Rise in working population and increasing focus on healthy lifestyle is expected to drive the global avocado market in the forecast period.
According to TechSci Research report, “Global Avocado Market By Type (Hass, Bacon, Reed, Fuerte, Pinkerton, Others (Brogdon, Zutano)) By Form (Raw, Processed) By Nature (Conventional, Organic) By Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Others) By Distribution Channel (Direct (Online), Indirect (Supermarket/Hypermarket, Specialty Stores, Others (Drug Stores, Convenience Stores)), By Region, Company Forecast & Opportunities, 2026”, The global avocado market is expected to witness steady growth for the upcoming five years. Avocado consists of essential vitamins including A, B, C, E and K along with phytochemicals and antioxidants. Presence of large number of nutrients is accelerating the demand for avocado around the world. Health benefit of avocado owing to its health benefits such as improved digestion, increases vision, and prevention of heart-related diseases. Rise in demand for avocado world-wide as it is superfood rich in omega and contains other multi-nutrient quality. Avocado is the most nutrient dense fruit available. Launch of avocado based food items and for example dips in fast food retailing joints along with expanding food retail business is contributing to strengthen the market. High demand for avocado by restaurant chains for use in continental and other cuisines is fueling the demand for avocados.
The COVID-19 outbreak across the world which has been declared as pandemic by World Health Organization has affected several countries adversely. Leading authorities-imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus affected patients started suffering from shortness of breath along with coughing and sneezing. Leading authorities increased the capacity of hospitals as a greater number of patients were getting affected daily and getting admitted into the hospital facilities. Rapid decline in economic activity around the globe and international market, the disruption in supply chain was observed. Avocado production requires well-coordinating harvesting and post-harvesting care which was affected due to restrictions and precautionary measures such as the practice of social distancing.
However, changing environmental conditions may hamper the growth of global avocado market.
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Global avocado market is segmented into type, form, nature, application, distributional channel, regional distribution, and company. Based on type, market can be divided into hass, bacon, reed, fuerte, pinkerton, and others. The hass type segment is expected to account for major market share for the forecast period, 2022-2026. It finds wide food application and consists of pleasant, creamy, smooth edible fruit which is in high demand across the globe. Based on distribution channel, market can be divided into direct, indirect and, others. The direct segment is expected to dominate the market for the next five years due to rise in internet penetration and proliferation of smart devices across the globe. Increasing growth of e-commerce channels and adoption of attractive strategies by the market players to improve the brand image is expected to boost the demand for this segment. Offering of lucrative discounts and the facility for fast delivery along with ease and convenience of consumers is driving the growth of this segment.
Calavo Growers Inc., Costa Group Holdings Ltd., Henry Avocado Corporation, West Pak Avocado, Inc., Del Rey Avocado Co. Inc., AvoHealth Limited, Westfalia Fruit (Pty) Ltd., Camposol S.A., Avehass S.A., Del Monte Fresh Produce Co are the leading players operating in global avocado market. Producers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several avocado producers are coming up with their technologically advanced offerings.
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“Rise in health concerns and adoption of healthy eating habits by consumers as part of preventive healthcare is fueling the demand for avocados around the globe. Consumption of avocado helps in maintain healthy skin and protect the liver from damage and ailments along with other numerous health benefits. Growing sales of distribution channels and surging use of avocado in various end user industries is further expected to propel the growth of the global avocado market till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Avocado Market By Type (Hass, Bacon, Reed, Fuerte, Pinkerton, Others (Brogdon, Zutano)) By Form (Raw, Processed) By Nature (Conventional, Organic) By Application (Pharmaceuticals, Nutraceuticals, Cosmetics, Others) By Distribution Channel (Direct (Online), Indirect (Supermarket/Hypermarket, Specialty Stores, Others (Drug Stores, Convenience Stores)), By Region, Company Forecast & Opportunities, 2026” has evaluated the future growth potential of global avocado market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of global avocado market.
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