NEW YORK, June 22, 2021 / PRNewswire / – The global Guacamole market will grow at a CAGR of around 7% through 2031 and will be valued at US $ 2.3 billion, with the demand for organic guacamole growing faster in all regions.
The increasing awareness of environmentally friendly cultivation practices and the need for natural and nutritious foods lead to a steadily increasing demand for certified organic foods. Guacamole is no exception, even if its market share is smaller compared to traditional guacamole. Still, the year-over-year growth points to optimistic growth for organic guacamole.
Guacamole can be used as a dip for chips, meat, fish, vegetables, and fruits, and can also be used as a salad dressing. The versatility that guacamole has to offer has enabled manufacturers to recommend their products as a simple food. With the growing demand for certified organic foods, organic guacamole is expected to have a CAGR of more than 8% over the next ten years.
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Important findings from the market study
- The guacamole market in India and China is expected to grow at CAGRs of 9.3% and 8.6% respectively through 2031.
- Unflavoured, unflavoured guacamole will have an outstanding market share of up to 70% by 2031. This is due to the low cost compared to flavored guacamole.
- North America and Latin America hold more than half of the world market, mainly due to the high consumption of avocado-based products in these regions.
- in the Asia Pacific, manufacturers represent due to the importance of avocado as an ambitious lifestyle and the rising standard of living in countries like. increasingly new and regional special flavors for guacamole India, China, Indonesia, and Thailand.
- The demand for guacamole is expected to have a CAGR of more than 6% in. climb Europe and the US in the forecast period.
- Spain, Germany, France, Russia, and BENELUX hold significant shares in guacamole in Europe.
- COVID-19 had little impact on the advancement of the guacamole industry. Supply chain disruptions have been observed but the market is expected to recover in the short term.
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“Guacamole includes avocados and tomatoes, which are heart-healthy monounsaturated fats and are also a rich source of potassium, vitamins E and C, and antioxidants that are driving demand worldwide,” says an analyst with Persistence Market Research.
Guacamole makers are focused on increasing their market share by investing in research and development to develop new flavors to suit consumers’ changing taste preferences, as well as acquiring trendy labels. The manufacturers are constantly striving to increase sales in different regions.
- in the July 2020, Westfalia Fruit Group launched two rootstocks after testing avocados under various infection pressure conditions in order to obtain the fruit that can be further used to make guacamole.
- In 2020, Verfruco Foods Inc. invested in the research and development of technologies to purify and simplify the processing of avocados as a raw material for making guacamole.
- Landec Corporation, which owns the major guacamole brands, Ortega and. owns Cabo Fresh, is working on product development to keep pace with the demand for herbal products.
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Discover other valuable insights
Persistence Market Research offers impartial analysis of the global Guacamole Market in its new report, presenting historical data (2016-2021) and estimation statistics for the forecast period 2021-2031.
The study provides compelling insights based on nature (organic and conventional), taste (unflavoured / natural and flavored), end use (food processing, hospitality and retail / household) and distribution channel (B2B and B2C) across seven major regions of the world.
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