Avocado-based Products Market: Introduction
A recent study published by Transparency Market Research on the avocado-based products market includes North America and Europe industry analysis and opportunity assessment for 2020-2030. Revenue generated from the avocado-based products market in North America is estimated to be valued over ~US$ 4.3 Bn in 2020, which is estimated to rise at a CAGR of 5.4%, to surpass US$ 7.3 Bn by 2030.
Revenue generated from the avocado-based products market in Europe is estimated to be valued over ~US$ 2.3 Bn in 2020, which is projected to rise at a CAGR of 7.3%, to cross US$ 4.8 Bn by 2030.
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Avocado-based Products Market: Players
- Some of the key actors including producers, cultivators, and brands operating in the avocado-based products market, as profiled in the study, are
- Nestle SA
- Döhler GmbH
- Stonehill Produce
- Florigin Limited
- Simped Foods Pty Ltd.
- The FoodFellas Ltd.
Rising Consumer Awareness toward Organic Products to Boost Sales for Avocado-based Products
Organic food, when compared to conventional food, possesses more nutrients and antioxidant properties. Consumers have the confidence that organic food does not cause allergies, owing to the absence of fertilizers, pesticides, or any other chemicals, while harvesting crops. Organic avocado-based products are being preferred. Versatile applications of organic avocado-based products in food beverages and foodservice industries, and the household use of avocado-based products is winning customers. Thus, rising consumer awareness toward organic products is benefiting the market.
Development of Modern Distribution Channels Leading to Increased Outreach of Avocado-based Products
Rapid urbanization, rising per capita income, Internet facilities, and increasing social media influence are factors that have contributed to the growth of online business in North America and Europe. This has shown positive impact on the growth of the online retail market leading to increased sales for avocado-based products.
A large number of manufacturers has started marketing avocado-based products via e-Commerce websites such as Amazon, Walmart, etc. Many emerging players are also looking to expand their business lines by selling their products through e-Commerce. Online retailing is the new era of and advanced platform for selling avocado-based products, which is expected to positively impact the market growth.
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Spotlight on Better-for-you Snacks to Drive Sales of Avocado-based Products
Consumers are more frequently including smaller meals throughout the day, and are in search for healthier options. The demand for better-for-you snacks are being projected to grow at a significant rate. Fresh snacks, primarily fruits, including avocados are popular among consumers.
Avocado is known to have high calories, fibers, and low sugar. Inclusion of half avocado in a day makes one feel full for longer duration of time. A healthy lifestyle that includes nutritious food can help prevent various diseases. Avocados are healthy food and can be added in the healthy diet. Vitamins, minerals, and healthy fats from avocados help to prevent diseases and keep the body in good working order.
Avocado-based Products Market: Overview
- The avocado-based products market value in North America is estimated to cross US$ 3Bn in 2020, finds Transparency Market Research (TMR) in a recent study. According to the report, the market is expected to surpass US$ 7.3 Bn by 2030, at a CAGR of 5.4% in North America. The revenue from the Europe avocado-based products market is estimated to be valued over US$ 2.3 Bn in 2020, and expected to cross US$ 4.8 Bn by the end of 2030.
- The processed avocado is majorly used in the production of sauces and dips. The increasing demand for avocado sauces and dips from the food processing industry is expected to drive the demand for avocado-based products market in Europe.
- The demand for avocado-based products is rising from the food beverages industry, as it enhances the nutritional profile and taste of food products. Awareness regarding good quality food contributing toward healthy lifestyle is driving consumers to natural and organic products. Moreover, consumers are curious about the quality of ingredients used in food products, and prefer healthy, nutritious, tasty, and innovative food products.
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Avocado-based Products Market: Strategies
- Leading players in the avocado-based products market landscape are involved in geographical expansion and enhancement of business activities globally. Companies are also focusing on expanding presence in local markets.
- Leading players operating in avocado-based products market are also focusing on offering premium quality product to customers to add value to their health. Companies are conducting regular audits for high-quality products and complying with different international standards for quality assurance.
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