Avocado Market Size

Avocado Market Analysis

The Avocado Market size is estimated at USD 22.69 billion in 2024, and is expected to reach USD 35.55 billion by 2029, growing at a CAGR of 9.40% during the forecast period (2024-2029).

• Avocados contain vitamins A, B, C, E, and K, including 25 essential nutrients. They also contain phytochemicals (like beta-sitosterol) and antioxidants (like lycopene and beta-carotene). These essential nutrients are boosting the demand for avocados globally, acting as major driving forces behind the growth of the market. The demand for avocados is increasing globally also due to their health benefits, as they improve vision, prevent heart-related diseases, and help improve digestion. The increased demand across the globe has resulted in increased production. According to the FAOSTAT, avocado production has increased by about 1 million metric tons, reaching 8.05 million metric tons in 2020. Mexico is the top avocado-producing country in the world, with an area of around 224,422 acres producing over 2.3 million tons in the year 2020. Other leading avocado producers include tropical countries such as Colombia, Peru, Dominican Republic, and Indonesia.
• Given their high perishability, avocados require timely and well-coordinated harvesting and post-harvest handling, and uninterrupted cold chains lead to the high price for these tropical fruits. Due to their high production and availability, avocados have become one of the most consumed tropical fruits in the world, especially in American and European countries, which is attributed to the high disposable income of the people and the inclusion of the fruit in their daily diets. The demand from these countries is expected to continue further due to increasing population, disposable incomes, and declining domestic production amid water and labor shortages.