According to the latest report by IMARC Group, titled “Guacamole Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 921 Million in 2018. Guacamole refers to a dip or a sauce prepared by combining mashed avocados with tomatoes, onions, chili peppers and seasonings. Originating from Mexico, guacamole first came into recognition during the Aztec civilization. While there are various types of avocados available across the world, Hass avocados are considered ideal for making guacamole as they are available all year round. At present, guacamole is utilized in the preparation of several dishes including wraps, salads, deviled eggs and tacos. It is also used as an additional ingredient in different types of pasta, grilled fish dishes, fajitas and soups.
Global Guacamole Market Trends:
Guacamole is considered as a rich source of vitamins C and E, and unsaturated fats. These nutrients help in lowering bad cholesterol and blood pressure; strengthening blood vessels, tendons and ligaments; and preventing nerve damage and muscle weakness. Awareness about these benefits has led to a rise in the demand for guacamole-based food items worldwide. In line with this, manufacturers in the industry are introducing different variants of guacamole products such as spread and salsa. They have also started using organic ingredients to produce guacamole as consumers across the globe have become aware of the harmful effects of pesticides and herbicides utilized in agricultural processes. These factors are currently supporting the rising sales of guacamole. Looking forward, the market is anticipated to grow at a CAGR of around 8% during 2019-2024, reaching a value of US$ 1.4 Billion by 2024.
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The market has been segmented on the basis of the form which mainly includes frozen, dried and ready-to-make. Amongst these, ready-to-eat guacamole is gaining immense popularity across the globe as it is convenient to consume.
Based on the end use, the market has been segregated as the food processing industry, food service industry and households.
On the basis of the packaging, the market has been categorized as glass bottles, plastic containers and stand-up pouches. Currently, stand-up pouches account for the majority of the market share.
Based on the distribution channel, the market has been bifurcated into business-to-business and business-to-consumer. Amongst these, the business-to-business distribution channel represents the largest segment.
On a regional basis, the report has analyzed the market in North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. North America presently represents the biggest market for guacamole, holding the majority of the total market share. This can be attributed to the rising popularity of different guacamole products in the region such as mayonnaise, sandwich spreads, and salad dressings.
The competitive landscape of the market has also been examined with some of the key players being Wholly, Yucatan, Sabra, PL, Calvio, Salud Food Group, and Westfalia Fruit.
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