Global Avocado Market Size was $22.62 Billion in 2023

Global Avocado Market Overview

According to Global Market Monitor, the global avocado market size was $22.62 billion in 2023 with a CAGR of 5.08% from 2023 to 2028.

Avocados are rich in phytosterols, vitamins E and C, minerals, fiber, antioxidants, amino acids, and monounsaturated fatty acids. It helps relieve arthritis pain, improve cholesterol levels, reduce the risk of atherosclerosis, maintain healthy vision and digestive system, and improve the antioxidant properties of individuals. The global avocado market has continued to grow over the past few years and is expected to continue to grow in the coming years. Latin America is the largest production and export region, leading the global market.

Overview of Avocado Downstream Consumption

Research has proved that avocado has high nutritional value. Rich in vitamins, it is a natural source of vitamins B, K, C, and E. Further, it is also a rich source of potassium, carotenoids, and phytosterols. Avocado 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. Research is on to develop products based on avocado extracts and ingredients. This attracts demand in the global avocado market.

Further, research has proved the 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. However, there are some challenges in the avocado market, such as climate change, diseases, and pests, which can have an impact on the production and quality of avocados. In addition, the price of avocados is also affected by market supply and demand, seasonality, and other factors, and the price fluctuates greatly. Overall, the avocado market has great prospects, but it is necessary to pay attention to market changes and risks to develop a reasonable market strategy.

Drivers	High nutritional value
	Gaining importance in the pharmaceutical and cosmetics industry
	Increasing demand for avocados
Challenges	Specific needs for the growing environment
	Substitutes threat