The global guacamole market share was valued at $852.3 million in 2021 and is projected to reach $1.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
Guacamole is a thick and creamy avocado-based spread that is prepared with lime, onion, chili pepper, garlic, tomato, and spices. It enhances heart health, prevents stroke, lessens liver damage, and fights inflammation. It also helps the brain and liver to operate better. It also helps to reduce deeper visceral belly fat and keeps a person satisfied until their next meal by encouraging satiety. The regular and moderate use of it prevents bloating, moisturizes the skin, and delays aging. As a result, it is frequently used as a salad element and condiment in many different cuisines in the food and beverage (F&B) business.
The growing demand for quick meals that need little energy and time to prepare is being driven by rapid urbanization and an increase in the number of people working globally. This is one of the main elements boosting guacamole market demand. In addition, as a result of globalization, people are becoming more open to trying different cuisines. This increases demand for sandwiches, burritos, and salads with guacamole on top, coupled with the expansion of fast food restaurants. In addition, the growing acceptance of a better lifestyle brought on by changing consumer preferences is boosting the demand for guacamole, which is high in antioxidants, good fats, fiber, and potassium. Furthermore, the industry is being positively impacted by the growing appeal of wholesome, nutrient-dense snacks served with dips. In addition, Food processing industries are increasingly focusing on plant-based and clean-label food products, owing to the rising adoption of a healthy lifestyle. Guacamole is generally considered in the plant-based category.
Plant-based diets enhance gut health, which promotes improved nutrient assimilation and immune system function. In addition, In addition, the industry is expanding as a consequence of the new trend of food vlogging and increased usage of social media platforms. Due to growing urbanization and the population that is mostly focused on their jobs, there is an increased need for quick meals. These elements highlight the necessity for meals that need the least amount of time and energy to prepare. For this, guacamole is perfect. Another consideration is the long shelf life, and to preserve the flavor and seasonality of guacamole, manufacturers have developed the newest cold-press technologies, such as high-pressure processing.
Moreover, some of the major producers are also making significant investments to guarantee the freshness of the avocado which is used as the raw material for making high-quality guacamole. From 2001 to 2018, the per capita consumption of avocados in the North America region, which is a significant producer and consumer of guacamole, tripled. Despite the fact that domestic production of the fruit has decreased, large manufacturers have been obliged to import it from close by nations like Mexico and process it to make guacamole, due to the huge demand. Due to avocados’ many health advantages and adaptability, the demand for avocados and avocado-based goods has increased. It has been a successful replacement for traditional meal options as a healthier and tastier option. Thus, the above factors are likely to support the growth of the guacamole market size.
Low avocado output is the cause of the high price of guacamole. The primary component of guacamole is avocado. The increasing scarcity of avocados is likely to limit the guacamole market growth during the forecast period. Prices for guacamole are rising along with the fruit's rising consumption because of its health benefits. Another big worry is fruit rotting and ripening. If the fruit is unattended for a long time, it may become oxidized and develop a brown covering, which causes it to ripen quickly and become spoiled. Thus, such factors are restraining market growth.
The guacamole market is segmented on the basis of end-user, packaging, distribution channel, and region. As per end-user, the market is classified into the food processing industry, food service industry, and households. By packaging, the market is divided into glass bottles, plastic containers, and stand-up pouches. Depending on the distribution channel, the market is categorized into business-to-business, supermarket and hypermarket, convenience stores, specialty stores, and online stores. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Belgium, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Thailand, Indonesia and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, Chile, Turkey, South Africa and Rest of LAMEA).
By end-user, the food service industry segment accounted for a major share of the guacamole market in 2021 and is expected to sustain its share throughout the guacamole market forecast period. Growing demand for customization and innovation in food menu options is among the key factors driving the food service industry. Consumers are provided with a wide variety of alternatives to customize their meals according to their taste, dietary, and budget preferences.
By packaging, the glass bottle segment accounted for a major share of the guacamole market in 2021 and is expected to grow at a significant CAGR during the forecast period. Glass bottle packaging is safe and convenient because there is little to no chance of chemicals contaminating the finished product. In addition, glass bottle packing preserves the flavor of the food or drink.
By distribution channel, the offline segment accounted for a major share of the market in 2021 and is expected to grow at a significant CAGR during the forecast period. In the offline segment, supermarket & hypermarkets dominated the guacamole market in 2020, owing to the great demand for avocado fruits in retail.
By region, North America is projected to dominate the market during the forecast period. The guacamole was invented in Mexico and immediately became popular everywhere. In addition, it is made with avocados, which are commonly harvested in Mexico and the U.S. These components have encouraged the guacamole industry in North America.
The major players operating in the market focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the guacamole industry include Avoking, Calavo Growers, Inc, Casa Sanchez SF, Hormel Foods Corporation, Sabra Dipping Co., LLC, Salud Foodgroup Europe b.v, Snowcrest, Westfalia Fruit Ltd, Woolworths Group ltd, and Landec Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the guacamole market analysis from 2021 to 2031 to identify the prevailing guacamole market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the guacamole market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global guacamole market trends, key players, market segments, application areas, and market growth strategies.
Guacamole Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.5 billion |
 Growth Rate | CAGR of 5.8% |
 Forecast period | 2021 - 2031 |
 Report Pages | 343 |
 By Distribution Channel |
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 By End User Industry |
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 By Packaging |
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 By Region |
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 Key Market Players | Hormel Foods Corporation, Avoking, Snowcrest, Westfalia Fruit Ltd,, Casa Sanchez SF, Salud Foodgroup Europe b.v, Sabra Dipping Co., LLC, Woolworths Group ltd, Calavo Growers, Inc, Landec Corporation |
Analyst Review
According to the insights of the CXOs, the guacamole market is expected to witness robust growth during the forecast period. The guacamole market is expanding as a result of the rising urbanization and a dominating work-centric population. These elements highlight the necessity for meals that need the least amount of time and energy to prepare, for which, guacamole is ideal. Another factor is the long shelf life, and to preserve the flavor and seasonality of guacamole, manufacturers have developed the newest cold-press technologies, such as high-pressure processing. Some of the major producers are also making significant investments to guarantee the freshness of the avocado used as the raw material for making high-quality guacamole.
There is rise in demand for guacamole from the food & beverage industry as it is one of the good plant-based fats that can help lower risk of heart disease and stroke. The demand for guacamole products has increased in the developed countries, such as the U.S. and Germany, owing to its health benefits. Guacamole helps in reducing bloating, keeping a healthy body weight, and maintaining youthful skin. In many different cuisines, guacamole is used in a broad variety of ways as a condiment, dip, and salad element. Increasing prices of the avocado owing to limited area under avocado production and constraints imposed by the short shelf life of guacamole are the factors that are restraining the growth of the guacamole market.
The global guacamole market size was valued at $852.3 million in 2021, and is estimated to reach $1,464.9 million by 2031.
5.8% is the CAGR of guacamole market.
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2021 is the base year calculated in the guacamole market report.
Avoking, Calavo Growers, Inc, Casa Sanchez SF, Hormel Foods Corporation, Sabra Dipping Co., LLC are some of the top companies in the guacamole market report.
The guacamole market is segmented into end user industry, packaging, distribution channel and region.
Growing popularity for avocado-based food products & its rising health benefits and rise in demand for plant based dips and spreads from food service industry are some of the key factors shaping the growth of the guacamole market.
North America region holds the maximum market share of the guacamole market.
Outbreak of COVID-19 was negatively impacted the growth of the guacamole market in 2020.
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