Avocado Puree Market Expected to Reach $726.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Avocado Puree Market," The avocado puree market size was valued at $480.30 million in 2021, and is estimated to reach $726.6 million by 2031, growing at a CAGR of 4.3% from 2022 to 2031.

Avocado is usually found in the warm and tropical climate of Mexico and Central & South America. It serves as a rich source of monosaturated fats. It is used as an active ingredient in salads, savory dishes, desserts, and milkshakes. It is rich in potassium; fiber; and vitamins such as A, B, C, E, and K. Moreover, avocados contain phytochemicals such as beta-carotene, lycopene, beta-sitosterol, and anti-oxidants. 

One of the major factors that drives the growth of the avocado puree market are changes in lifestyle across the globe coupled with increase in awareness about health. People are searching for healthy alternatives to combat health issues such as heart disease and obesity. This oil has gained popularity among these people because of its health benefits. Thus, driving the Avocado Puree Market Demand

There are many competitive products of avocado available at low cost in the market. These include extra virgin hemp oil, olive oil, chia seed oil, and others. This limits the growth of the avocado puree market. The rise in awareness for avocado puree in untapped regions and growth in trading relations, especially with Latin American countries, act as an opportunity for the Avocado Puree Industry.

Rise in concern of the people toward the healthy foods habits, awareness toward healthy lifestyle, rising prevalence of health & cardiovascular diseases, and increasing cholesterol levels due to consumption of fast foods are the Avocado Puree Market Trends that are driving the Avocado Puree Market Growth.

The avocado puree market is segmented into category, application, and sales channel. By category, the market is segmented into organic and conventional. The application are infant foods, beverages, smoothies and yogurt, dressings and sauces, and others. Based on the sales channel, the market is segmented into direct and indirect channel. Further, the indirect sales channel are classified into supermarket/hypermarket, convenience stores, and e-retailers.Region wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Belgium, Netherland, Russia, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Thailand, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, Chile, and Rest of LAMEA).

By category, the conventional segment is expected to witness a major growth rate during the forecast period. The conventional segment is estimated to reach $241.3 million by 2031, at a significant CAGR of 4.7% during the forecast period.

By application, the infant food held the major Avocado Puree Market Sharein the market in 2021. Infant formula consists of various nutrients, such as carbohydrates, fats, proteins, vitamins, minerals, and others (linoleic acid, prebiotic, and others), that are fed to babies for their overall development.

By sales channel, indirect sales held the major share in the market in 2021, owing to increase in urbanization, rise in working class population and competitive pricing is boosting the popularity of hypermarket/supermarkets, convenience stores and e-retailers in the developed and developing region.

By region, North America region held the major share in the market and is expected to remain dominant throughout the forecast period. North America was the highest revenue contributor, accounting for $232.2 million in 2021, and is estimated to reach $342.6 million by 2031, with a CAGR of 4.0%.

Asia-Pacific countries such as India and China are the most emerging economies of the world and have a high demand for healthy food items due to rise in population and increase in disposable income of the middle-class people and rise in health diseases in these countries.

The key players studied in Avocado Puree Market are DMH Ingredients Inc., Ferreiro and Company, Florigin Limited, Florigin Limited, Lemon concentrate S.L.U, Markon, SFI Rotterdam BV, Stonehill Produce, Simped Foods Pty Ltd, The Berry Man, The Food Fellas, The Wilatta Group, and Wholly Guacamole.

Key findings of the study

• On the basis of category, the conventional segment is expected to be the fastest growing segment during the forecast period.
• On the basis of application, the infant formula segment was the dominating segment in 2021.
• On the basis of sales channel, the direct sales channel segment is expected to be the fastest growing segment during the forecast period, with the CAGR of 5.2%.
• On the basis of region, LAMEA is expected to be the fastest growing segment during the forecast period with the CAGR of 5.9%.