Avocado Market

1.8x increase in revenue in the global avocado market to be witnessed during 2017-2027

According to Persistence Market Research, the global avocado market is anticipated to show significant market share and a high growth rate during the period of forecast 2017-2027. The global avocado market has seen an upward trend since 2012. The global avocado market is projected to grow at a CAGR of 6.2% throughout the period of assessment to reach a valuation of about US$ 23 Bn by the end of the assessment year (2027) from a value a bit lower than US$ 13 Bn in 2017.

This significant growth can be attributed to growing awareness among consumers about health concerns coupled with increasing focus on healthy lifestyle promoting intake of healthy food items, increasing use of avocados across various end use industries and growing sales channel for distribution of avocados across the globe.

Latin America to surpass other regions with a high market valuation

Latin America is considered as the most lucrative region for avocados. The region is expected to reflect high market attractiveness in the coming years and is expected to lead the global market. In 2017, the avocado market in Latin America was valued at around US$ 5400 Mn and is estimated to touch a market valuation of more than US$ 9 Bn. A 1.7x leap in market revenue of Latin America avocado market is observed and it is projected to expand at a value CAGR of 5.5%.

Latin America avocado market is largely fuelled owing to high contribution from Mexico, Dominican Republic and Colombia. Mexico is the largest among these three and is estimated to touch a value of over US$ 3 Bn by 2027 end. Dominican Republic is the second most attractive region in Latin America. On the other hand, Guatemala avocado market is projected to expand at the highest CAGR during the forecast period.

Tough call between North America and Asia Pacific (APAC) – both regions to show strong growth potential in the coming years

Avocado market in North America and Asia Pacific regions is expected to showcase strong growth rate in the coming years. Comparatively, North America is estimated to reflect a higher market share in the avocado market. It is expected to register a significant growth rate during the forecast period to touch a noteworthy market valuation.

Asia Pacific avocado market is projected to expand at a relatively higher value CAGR of 7.5% throughout the period of assessment, 2017-2027. However, according to this research report, avocado market in Asia Pacific is anticipated to reach a value of about US$ 4 Bn by 2027 end whereas, the North America avocado market is expected to reflect an estimate a bit over US$ 5 Bn by 2027 end.

Retail sector to fuel revenue growth of the avocado market in Asia Pacific in the years to follow

Avocado market in Asia Pacific is expected to spearhead the growth rate of the global market. The increasing consumption of avocado in Asia Pacific can be attributed to the retail sector in the region that holds the maximum share with respect to avocados in the region. The retail end use segment in Asia Pacific is expected to lead the region and highly spur the growth of the APAC avocado market. In addition, APAC avocado market is also influenced by the increasing consumption of avocado in the food industry in Asia Pacific.

Market Segmentation