The Avocado Global Market: Trends and Insights (2022-2024)

The avocado global market experienced massive growth in recent years, especially since 2022 and till now in 2024, and like any popular product in the global trade industry, this market has certain key players. In this article, we’re navigating through the avocado’s recent global production regarding quantities and top producing countries. Moreover, we’re going to explore the types of avocado with its application in various industries and intriguing historical facts about it.

Recent avocado global production: quantities and leading countries

In recent years, the avocado global production had significant growth, with a total output of approximately 5.03 million metric tons in 2023. The leading producers included:

• Mexico dominated the market by contributing 30% of global production.
• Peru solidified its position as a major player, the Peruvian avocado industry has proven its ability for adaptation to market challenges such as climatic issues affecting production. Furthermore, the continuous advancements for agricultural practices have enabled Peruvian growers to maintain quality standards.
• Chile continued to be a significant contributor known for its high-quality avocado.Chile is predominantly known for producing HASS avocado which constitutes of 99% of its avocado exports

According to Rabobank’s recent report, global avocado exports are expected to exceed 3 million metric tons by 2025, with Mexico, Peru, and Colombia leading the charge in export volumes.

Avocado’s exports and imports statistics worldwide

Top Exporting Countries:

1.Mexico: Exported around 1.14 million metric tons in 2023, accounting for approximately 90% of U.S. imports.

2-Peru: Their Exports have increased significantly, reaching about 500,000 metric tons, primarily targeting the U.S. and Europe.

3-Chile: Contributed with around 300,000 metric tons, focusing on markets like Asia.

Top Importing Countries:

United States: The largest importer globally, with imports totaling approximately 1.26 million metric tons in 2023 (an increase of 11% year-on-year).

European Union: As a collective market, the avocado consumption in the EU is rising; Spain and the Netherlands are key importers.

China: emerged as a significant market with a reported increase in imports of 29% year-on-year.

Overall, the avocado market is predicted to grow from approximately $19.27 billion in 2024 to $34.18 billion by 2034, highlighting a compound annual growth rate (CAGR) of about 5.9%.

The key market players in the avocado market

Several companies have been dominating the avocado global market across production and trade in recent years. Here are the top 5 leading companies in this industry:

1.     Calavo Growers Inc.

Calavo Growers is considered one of the key players in the avocado industry; the company is known for its sustainable farming practices. They have a strong presence in North America and are experiencing a 15% increase in their sales, according to their annual report. This, of course, reflects the increasing demand for fresh avocados among health-conscious consumers.

2.     Mission Produce Inc.

Mission Produce comes as another key player in the market with an extensive distribution network and quality commitment. The company reported growing sales in 2023, with a 20% increase in avocado shipments compared to the previous year.

3.     West Pack Avocado Inc.

West Pack Avocado continues to experience massive growth due to their huge focus on exporting high-quality avocado sourced primarily from Mexico. The company reported a 30% increase in exports in 2023, benefiting from the growing demand in the U.S. market. Imports reached approximately 1.23 million metric tons in 2023.

4.     FreshDel Monte Produce Inc.

Fresh Del Monte is a well-established company in the avocado global market. The company relies on various regions for avocado sourcing, including Mexico and South America. Through this approach, they cater to various international markets. As a consequence, they highlighted an increase in avocado sales due to the rising of consumer interest in fresh production.

5.Westfalia fruit

Westfalia Fruit is a global supplier of avocados with operations spanning different markets, including South Africa, Peru, and Chile. Their export volumes have been growing significantly since 2022, where their strategic partnerships helped them to expand their market reach.

These are the key companies shaping the global landscape for avocado production and exporting.

Types of Avocados

The Hass variety dominates the market powerfully due to its popularity and superior taste. However, other varieties of avocado are still popular and have their own markets; these notable avocado types include:

• Fuerte
• Pacon
• Pinkerton
• Gwen

These varieties cater to different consumer preferences, contributing to a diverse market offering.

Avocado utilization in popular industries

Avocados have several applications in various industries, along with being a popular food item. These industries include:

• Culinary industry: Avocados can serve as a nutritious part of any meal, where it’s common to use them as an ingredient in smoothies or scrambled eggs, or as a substitute for other foods like mayo or sour cream. Besides, it can be used for producing healthy avocado cooking oils with high smoke points.
• Nutraceuticals: Avocado is used widely in nutraceutical products such as avocado-based protein powders and supplements. In addition, avocado oil is often used in dietary supplements due to its high mono-saturated fat content.
• Cosmetic: due to its moisturizing properties, it can be incorporated into skincare products and serve as a vital ingredient. This is because it is rich in fatty acids such as oleic acid (up to 66%) along with containing vitamin A, E, and D.

Because of avocado’s multiple applications in different industries, the avocado global market is getting more big and competitive over years.

Interesting facts about avocados

There are several funny facts about this amazing avocado fruit that might be quite interesting for everyone seeing it for the first time. Here are some of them:

• Technically, avocado is considered a berry, and it is often referred to as “superfood” due to its rich nutrient profile.
• Due to its creamy texture and rich flavor, avocados are considered an aphrodisiac in some cultures.
• The fruit has been cultivated for over 10.000 years, originating from central Mexico.

Conclusion:

The global demand for avocado is growing year after year, driven by health trends and culinary innovations. With Mexico and Peru seem to be dominating the landscape, and emerging markets keep expanding their import capacities, avocados are set to remain essential for health-conscious consumers worldwide. The avocado industry is more likely to keep growing in both production and consumption as long as consumer preferences continue to evolve towards healthier options.

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