Avocado Market: Introduction: Avocado fruit is obtained from the plant family Lauraceae which is a flowering plant. The avocado fruit is native to the Latin American region and nowadays also produce throughout the tropical regions such as Kenya, New Zealand, South Africa and India. Avocados are famous for their nutritional content and benefits related to its consumption. There are different varieties of avocado available in the market such as Bacon, Fuerte, Gwen, Hass, Reed, etc. Mexico is the largest producer in the global avocado market. U.S. is the largest importer and consumer of avocado in the global avocado market. The avocado market is expected to see high growth rate over the forecast period owing to its increasing demand for comparatively new regions. The millennial population is the largest consumer base of the avocado related products globally.
Avocado Market: Segmentation: The avocado market is segmented on the basis of origin, type, offerings, end-use and distribution channel.
On the basis of origin, the avocado market can be segmented into organic and conventional. The conventional avocado segment is expected to stay dominated over the forecast period in terms of volume share but a decline in growth is expected to owe to increasing demand for organic avocado across the global avocado market.
On the basis of type, the avocado can be segmented into has, Fuerte, bacon, gwen, reed, zutano and others. The hass segment is expected to dominate the global avocado market owing to its widely accepted texture and taste characteristics followed by higher oil content. Fuerte segment to follow the second position resulted in high consumption in traditional regions.
On the basis of offering the avocado market can be segmented into, fresh fruit, puree, guacamole, oil, and others. The fresh fruit segment is expected to dominate the global avocado market over the forecast period owing to the high consumption of fresh form and utilization in culinary recipes throughout the major consuming regions. The oil segment is expected to witness high CAGR growth over the forecast period owing to its increasing demand as a healthier alternative for olive oil.
On the basis of End-use, the avocado market can be segmented into, Commercial, Household, and HoReCa. The commercial segment is further sub-segmented into food and beverage, cosmetics and personal care, medicinal and others. The household segment is expected to dominate the global avocado market owing to the large consumption of fresh avocado by consumers.
On the basis of the distribution channel, the avocado market can be segmented into indirect and direct. The indirect segment is further sub-segmented into modern grocery retailers, traditional grocery retailers, and e-commerce. Further categorization of modern grocery retailers includes hypermarket/supermarket, departmental stores, convenience stores, and others. Traditional grocery retailers are categorized into food & drink specialty store, independent small groceries, and others.
Avocado Market: Region-wise Outlook: North America is anticipated to dominate the global avocado market owing to the rising Hispanic population whose traditional cuisine involves avocados extensively. Europe to capture second place resulted in increased consumption of healthier food sources and ingredients. Latin America to capture a significant amount of share in terms of volume consumption resulted being a traditional market for avocado and avocado products. Asia Pacific to experience high growth rate over the forecast period owing to the increasing penetration of healthier food and produce. The Middle East and Africa to witness significant growth rate and is expected to form prime production zone for the global avocado market over the forecast period.
Avocado Market: Drivers and Restraints: The global avocado market is expected to be driven by the increasing social media imprints about the avocado benefits in the developed region. The millennial population has been identified as the prime consumer base for avocado and avocado products according to California avocado commission. Avocado oil is nutritionally superior to a number of edible oil present in the market and carries a very smoke value which makes it perfect for deep frying foodstuffs and also used as a base in many cosmetics and personal care products. This is attributed fuel demand for avocado across different oil producers over the forecast period as a significant demand for avocado oil is anticipated.
The avocado market is expected to face restraint resulted in limited volume production and diseases related problems which are expected to drive away potential consumer base to easily available alternatives over the forecast period.
Avocado Market: Key Players: The global player for the Avocado market are Calavo Growers, Calpure Foods, Olivado USA, Mt. Kenya Fresh Avocados, Del Rey Avocado, Hormel Foods Corporation, Yucatan Foods and Houston Avocado Co.
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Regional analysis for Avocado Market includes: