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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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.
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