The Guacamole Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Guacamole Global Market Report 2024, The guacamole market size has grown rapidly in recent years. It will grow from $1.15 billion in 2023 to $1.27 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increased demand for ready-to-eat snacks, availability of hass avocado varieties, expansion of fast food and casual dining, influence of culinary trends and food blogging, health-conscious consumer choices.
The guacamole market size is expected to see strong growth in the next few years. It will grow to $1.81 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth in the forecast period can be attributed to expanding avocado production, focus on sustainable and ethical sourcing, health benefits of avocado consumption, global culinary fusion trends, focus on premium and gourmet offerings. Major trends in the forecast period include flavor innovation and varieties, clean label and natural ingredients, plant-based and vegan diets, snacking on the go,marketing and branding initiatives, diversification of distribution channels.
The rising demand for wholesome foods and plant-based diets is expected to propel the growth of the guacamole market going forward. Wholesome foods are those that promote good health and meet all quality and labeling requirements required by local laws or regulations. Foods that help people stay healthy and meet all quality and labeling criteria specified by local laws or regulations are referred to as healthy foods. A plant-based diet consists of plant foods such as fruits and vegetables, nuts, whole grains, seeds, and legumes. Guacamole is avocado-fruit-based and is considered safe for a plant-based diet as it contains no animal products. Hence, the growth of the guacamole market is supported by a rise in demand for wholesome foods and plant-based diets. For instance, in 2021, according to the Good Food Institute, a US-based non-profit international network of organizations that accelerates alternative protein innovation, retail sales of plant-based food in the USA increased by 6% to USD 7.4 billion in 2021. Therefore, the rising demand for wholesome foods and plant-based diets is driving the growth of the guacamole market.
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The guacamole market covered in this report is segmented –
1) By Nature: Organic, Conventional
2) By Packaging: Glass Bottles, Glass Jars, Plastic Containers, Stand-Up Pouches
3) By Form: Frozen, Dried, Ready to make
4) By Distribution Channels: Supermarkets/Hypermarkets, Convenience Stores, Online, Specialty Stores
5) By End-use: Households, Food Processing Industry, Food Service Industry
Top Major Players:
Avo-King International Inc.
Sabra Dipping Company LLC
Westfalia Fruit (Pty) Ltd.
Calavo Growers Inc
Ortega – B&G Foods Inc
North America was the largest region in the guacamole market in 2023.
Product innovations are a key trend gaining popularity in the guacamole market. Major companies operating in the guacamole market are focused on developing new solutions to strengthen their position in the market. For instance, in May 2021, Sabra Dipping Co. LLC, a US-based company that produces Middle Eastern-style and other food products, including hummus and guacamole, launched its new Mexican Street Corn-Inspired Guacamole. The new product is available in a 1 lb (16 oz) package with a resealable lid and is made with lime, juicy sweet corn, chipotle, and hand-picked, Mexican-grown Hass avocados.
The guacamole market report table of contents includes:
1. Executive Summary
2. Guidewires Market Characteristics
3. Guidewires Market Trends And Strategies
4. Guidewires Market – Macro Economic Scenario
5. Global Guidewires Market Size and Growth
……
31. Global Guidewires Market Competitive Benchmarking
32. Global Guidewires Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Guidewires Market
34. Guidewires Market Future Outlook and Potential Analysis
35. Appendix
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