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Global Avocado Processing Market to Reach USD 2.9 Billion by 2026, Rising Demand for Processed Avocado

According to a new report by EMR titled, 'Global Avocado Processing Market Report and Forecast 2021-2026', the global market for avocado processing reached a value of almost USD 1.9 billion in 2020. The market is further expected to grow at a CAGR of 7.5% in the forecast period of 2021-2026 to reach a value of almost USD 2.9 billion by 2026.

The global market for avocado processing is being led by North America, owing to the rising demand for products that have processed avocado, including frozen guacamole, avocado and avocado oil, etc. Guacamole is the leading product type, exhibiting the largest share in the market. This can be attributed to the awareness regarding its essential benefits through multiple platforms such as social media, etc. In the United States, people were consuming 7 pounds of avocados per person each year in 2017. Increasingly more people are consuming avocados and related products, which are marketed as a rich source of beneficial monounsaturated oil and are recommended for those following a diabetic diet.

Calavo Growers (NASDAQ: CVGW) and Olivado Group are some of the key players in the avocado processing industry. In April 2020, CFC announced that it is supporting Olivado Group, one of the leading producers of organic avocado oil globally, so that the company can expand its output and export of organic avocado oil. This will assist in the further expansion of the processed avocado industry.

Market Analysis by Product Type, Application, Distribution Channel, and Region:

  • The avocado processing industry, on the basis of product type, is divided into guacamole, frozen avocado, avocado oil, avocado sauce, and others.
  • By application, the industry is categorised into food and beverages, cosmetics, pharmaceuticals, and others.
  • On the basis of distribution channel, the industry is segmented into supermarkets and hypermarkets, convenience stores, online, and others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for avocado processing is being driven by the inflating disposable income of the population.
  • The market is further aided by the rising awareness of the benefits of avocado, which has led to an increasing demand for the product in several industries, such as the food and beverage industry and cosmetics and wellness industry.
  • Owing to the changing and adapting food habits for new and exotic items, the market is further expanding. 
  • Accelerating acceptance of western food patterns and various cuisines has led to the invigoration of the avocado processing industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for avocado processing for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) market for the product types, applications, distribution channels, and regional markets of avocado processing. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

Calavo Growers and Olivado Group, among others, are the key players in the global avocado processing market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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