The South America avocado and avocado derivatives market was valued at US$ 1,039.72 million in 2022 and is projected to reach US$ 1,392.88 million by 2028; it is expected to grow at a CAGR of 5.0% from 2022 to 2028.
Avocados are majorly produced in tropical & subtropical South American countries such as Peru, Chile, and Columbia. Avocados contain antiaging, disease-fighting antioxidants and nearly 20 different vitamins and minerals which is driving their popularity among South American consumers. The avocado and avocado derivatives market is expected to witness significant growth in South America owing to the rising trend of healthy indulgence, the growing inclination toward avocado-enriched personal care products, and the increasing demand for organic products due to the rising health consciousness.
Leading avocado growers and product manufacturers in South America are expanding their businesses to other regions. In September 2021, Green SuperFood (GSF)—a producer–exporter of premium and sustainable fresh fruits, and a Hass avocado grower in Colombia and Brazil—officially announced the creation of its new European marketing and distribution arm “Farmers Home Europe” at Fruit Attraction 2021. The Farmers Home Europe has a transparent business model, directly exporting Hass avocados to importers and retailers across Europe, the UK, and Russia all year round. Similarly, the subsidiary of Westfalia Fruit operating in France announced the construction of its new facility in Graveson, in the Provence region in southeastern France, in October 2022. This facility will include avocado storage, ripening rooms, and packing facilities to support Westfalia's pan-European operations.
Impact of COVID-19 Pandemic on South America Avocado and Avocado Derivatives Market
The COVID-19 crisis triggered several health concerns among consumers, which influenced their buying behavior. According to a study conducted by the California Avocado Commission in 2020, 20% of the surveyed consumers admitted buying more avocados during the pandemic for reasons such as health and comfort. Thus, the demand for avocados increased massively in late 2020 and 2021 as consumers preferred food supporting health and immunity. This created a massive demand for avocados and avocado-based products across South America. Nevertheless, the decline in production caused by disruptions in supply chains and a shortage of skilled laborers created a demand and supply gap in the region.
With the relaxation of government restrictions and the rise in vaccination rates, in 2021, the South American marketplaces started recovering from losses incurred in 2020. Moreover, businesses regained traction due to a slowdown in the spread of COVID-19, the completion of vaccination, and the removal of government restrictions in various South American countries. Avocado cultivators and avocado-based product manufacturers are operating at full capacity, which has helped them overcome the demand and supply gap.
The COVID-19 pandemic has significantly altered the buying behaviors of consumers. They are seeking healthy food that helps them boost immunity and prevent infections and diseases. This factor is expected to open lucrative opportunities for avocado growers and avocado-derivative manufacturers in South America.
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South America Avocado and Avocado Derivatives Market: Strategic Insights
Market Size Value in US$ 1,039.72 Million in 2022 Market Size Value by US$ 1,392.88 Million by 2028 Growth rate CAGR of 5.0% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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South America Avocado and Avocado Derivatives Market: Strategic Insights
| Market Size Value in | US$ 1,039.72 Million in 2022 |
| Market Size Value by | US$ 1,392.88 Million by 2028 |
| Growth rate | CAGR of 5.0% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Market Insights
Rising Demand from Personal Care Industry in South America to Boosts Market Growth
Avocado extracts have been studied for their skin-healing properties as they are enriched with lecithin and phytosterols. It is comparable with lanolin due to its good skin penetration ability, high vitamin content, low odor, and excellent shelf life. Avocado extracts produce finer emulsions in products such as skin creams and lotions. Moreover, avocado oil is one of the most penetrating oils, and its skin tissue penetration ability is rated similar to lanolin. It, thus, serves as a "carrier" for other substances that lack penetrating ability. Due to this property, avocado oil is used in nourishing creams, massage creams, all-purpose creams, massage oils (muscle oils), and other preparations, facilitating penetration and lubrication. The rising disposable income across South American countries also favors the proliferation of the cosmetics & personal care industries in this region. Thus, the flourishing cosmetics and personal care industries bolster the avocado and avocado derivates market in South America.
Type-Based Insights
Based on type, the South America avocado and avocado derivatives market is segmented into whole, oil, puree, and others. The whole segment held the largest share of the market in 2021. Whole avocados are usually consumed directly by consumers, or they are processed into avocado oil, puree/pulp, and powder. Moreover, whole avocados are sliced/diced and packed into packages that are suitable for bulk and retail sales. Avocados are enriched with nutrients such as fatty acids, vitamins, minerals, protein, lecithin, and beta-carotene. Owing to their essential nutrient content, the demand for whole avocados is growing in industries such as food & beverages, personal care, and pharmaceuticals.
Category-Based Insights
Based on category, the South America avocado and avocado derivatives market is bifurcated into organic and conventional. The conventional segment accounted for a larger share of the market in 2021. Conventional farming involves planting these crops in full, direct sunlight, which leads to rapid crop growth and allows the growth of more plants in the given area. Conventionally grown avocados are cheaper than organic ones.
Application-Based Insights
Based on application, the South America avocado and avocado derivatives market is segmented into food & beverages, pharmaceuticals & nutraceuticals, personal care, and others. The food & beverages segment accounted for the largest share of the market in 2021. However, the personal care segment is anticipated to register the highest CAGR during the forecast period. In South America, the demand for avocados is increasing in food and beverage manufacturing with the growing popularity of high-nutrient food. According to a survey conducted by Tetra Pak in February 2021, consumers prefer avocado-based snacks with attributes, including healthy (56%), nutritious (51%), high in protein (40.8%), and calcium content (41.2%). The rising consumer inclination toward specialty products is encouraging companies in the food & beverages sector to incorporate such exotic ingredients into their processed food products.
Westfalia Fruit Pty Ltd, Salud Foodgroup Europe BV, Exportadora Propal SA, Berje Inc, Lemonconcentrate SLU, Avocado Brasil Comercio de Alimentos Ltda, ConnOils LLC, Mission Produce Inc, Calavo Growers Inc, and MERIDIAN FRUITS SPR de RL de CV are among the key players operating in the South America avocado and avocado derivatives market. These companies present wide product portfolios and are highly focused on developing high-quality and innovative products to meet the customers' requirements.
Report Spotlights
- Progressive industry trends in the South America avocado and avocado derivatives market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the South America avocado and avocado derivatives market from 2020 to 2028
- Estimation of regional demand for avocado and avocado derivatives
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the avocado and avocado derivatives industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the avocado and avocado derivatives market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- Size of the South America avocado and avocado derivatives market at various nodes
- Detailed overview and segmentation of the market, and the avocado and avocado derivatives industry dynamics
- Size of the South America avocado and avocado derivatives market in various regions with promising growth opportunities
Company Profiles
- Westfalia Fruit Pty Ltd
- Salud Foodgroup Europe BV
- Exportadora Propal SA
- Berje Inc
- Lemonconcentrate SLU
- Avocado Brasil Comercio de Alimentos Ltda
- ConnOils LLC
- Mission Produce Inc
- Calavo Growers Inc
- MERIDIAN FRUITS SPR de RL de CV
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Brazil, Chile
The List of Companies - South America Avocado and Avocado Derivatives Market
- Westfalia Fruit Pty Ltd
- Salud Foodgroup Europe BV
- Exportadora Propal SA
- Berje Inc
- Lemonconcentrate SLU
- Avocado Brasil Comercio de Alimentos Ltda
- ConnOils LLC
- Mission Produce Inc
- Calavo Growers Inc
- MERIDIAN FRUITS SPR de RL de CV
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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