The global market reports from The Business Research Company have been updated with the most recent market sizing data for 2024 and projections extended to 2033
The Business Research Company's "Avocado Global Market Report 2024" is a comprehensive source of information that covers every facet of the market. As per TBRC's market forecast, the avocado market size is predicted to reach $21.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
The growth in the avocado market is due to the increasing demand from end users such as the food and beverage industry. North America region is expected to hold the largest avocado market share.
The avocado market size has grown strongly in recent years. It will grow from $15 billion in 2023 to $16.24 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to health and nutrition trends, changing dietary preferences, culinary trends, supply chain improvements, globalization of markets.
The avocado market size is expected to see strong growth in the next few years. It will grow to $21.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to continued health consciousness, diverse culinary applications, sustainable agriculture practices, expanding global production, exploration of new markets.
The increasing demand from end users such as the food and beverage industry is expected to boost the growth of the avocado market going forward. The food and beverage industry refers to all businesses that handle the processing, packaging, and distribution of uncooked food. Avocados are highly nutritious and versatile and can help improve heart health, digestion, and weight management. Incorporating avocados into a healthy diet can provide multiple health benefits and help individuals focus on a healthier lifestyle.
Enhanced avocado storage, ripening, and pan-European packing capabilities
Several new storage facilities, with avocado storage and ripening rooms are being developed and implemented in the avocado industry to improve efficiency, reduce waste, and enhance product quality.
AI-driven platforms for precision farming and personalized supply chain optimization
Major companies operating in the avocado are focusing on technological advancements such as personalized Al-driven for personalized recommendations, enhancing farming practices, and optimizing supply chains to improve production efficiency and meet market demand.
Source: thebusinessresearchcompany.com