Avocado is a fruit that has
found impetus among people in the last few years, due to revelations about its
health benefits. The product has been in demand in the food industry and is
also finding application in the cosmetics and pharmaceutical sectors. Looking
at the vast business potential, Transparency Market Research has published a
report on the global avocado market.
The report is an extensive
analysis of the prevailing and future trends in the global avocado market.
Further, it provides detailed insights into the potential drivers, crucial
challenges, growth predictions, key strategies adopted by the major players,
and the geographical analysis.
According to TMR analysts, the
global avocado market was valued at US$13.64 bn in 2018 and is predicted to
attain an overall value of US$21.56 bn by 2026. The market is projected to grow
a healthy CAGR of 5.9% every year during the forecast period of 2018-2026.
Competition in the global
avocado market is strong as many new players are entering the market.
Considering it is a perishable commodity, the scope for growth and expansion is
very high in the global avocado market. Organic strategies like acquisition of
regional players, launching new operations, and expanding the product line are
some common efforts to sustain in the competition.
Geographically, Latin America is
believed to lead the global avocado market and North America is expected to
stay a close second in the league. Factors such as rising awareness about
health and importance of consuming natural food products is driving demand in
the avocado market here.
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High Nutritional Value
to Steer Demand in the Global Avocado Market
Research has proved that avocado
has high nutritional value. Rich in vitamins, it is a natural source of vitamin
B, K, C, and E. Further, it is also a rich source of potassium, carotenoids,
and phytosterols. With numerous nutritional benefits, avocado is preferred as a
natural ingredient in several food products today. This is a primary reason for
constant growth in the global avocado market.
Further, it is gaining
importance in the pharmaceutical and cosmetics industry. With its health
benefits, pharmaceutical companies and cosmetic product manufacturers feel it
could be a key ingredient in their products. Research is on to develop products
based on avocado extracts and ingredients. This attracts demand in the global
avocado market. Further, the fact that avocado is a natural source, it garners
increased interest among consumers.
Innovation to Create New
Avenues for Business
While avocado can be consumed
directly in its ripe form, food manufacturers feel it could be used in
different variations to attract consumers. Several avocado based products such
as jellies, jams, juice, dips, candies, chutney, etc. are being introduced
across various cuisines to kindle the interest among people. Several players in
the food market are exploring new products with the punch of avocado to open
fresh avenues for business. These aspects are predicted to drive growth in the
global avocado market.
Further, research has proved
benefits of using avocado on skin care products. Players in the cosmetic
industry are introducing skin care products with avocado as a key ingredient.
Positive results in terms of business hint at stable growth potential in this
new arena. Thus, consumption in the global avocado market is believed to shoot
up during the forecast period.
The study presented here is
based on a Transparency Market Research report titled “Avocado Market (Nature -
Organic, Conventional; Form - Raw, Processed; Source - Hass, Reed, Fuerte,
Others; Distribution Channel - Direct Sales, Indirect Sales; End-use - Food and
Beverages Industry, Retail Industry, Cosmetics and Personal Care, Others) -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 –
2026.”
Food
and Beverages Sector
The food and beverages
sector has cemented its place among the global populace firmly over the years.
This sector attracts considerable investments and subsidies from numerous
government and non-government organizations. The trends and popularity
regarding specific sub-categories are dynamic and help in structuring the
overall growth. The trends are a way of answering the needs of the consumer.
The players in the food and beverages sector have to adapt to the changing
trends, which helps increase revenue-generation opportunities
