Guacamole Global Market Report 2024

The guacamole market 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 observed during the historical period can be attributed to factors such as the heightened demand for ready-to-eat snacks, the availability of hass avocado varieties, the expansion of fast food and casual dining establishments, the influence of culinary trends and food blogging, and the increasing preference among consumers for health-conscious food choices.

The guacamole market 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 anticipated growth in the forecast period can be attributed to several factors, including the expansion of avocado production, an increased emphasis on sustainable and ethical sourcing practices, the recognition of health benefits associated with avocado consumption, global culinary fusion trends, and a heightened focus on premium and gourmet offerings. Key trends expected in the forecast period include ongoing innovation in flavors and varieties, a focus on clean label and natural ingredients, the growing popularity of plant-based and vegan diets, a rise in on-the-go snacking habits, strategic marketing and branding initiatives, and the diversification of distribution channels.

The guacamole market is poised for growth due to the increasing demand for wholesome foods and plant-based diets. Wholesome foods, meeting quality and regulatory standards, contribute to good health. Plant-based diets, consisting of fruits, vegetables, nuts, whole grains, seeds, and legumes, align with the growing preference for healthier dietary choices. Guacamole, being avocado-fruit-based and free from animal products, is deemed suitable for plant-based diets. The guacamole market benefits from this trend, supported by the surge in demand for wholesome foods and plant-based diets. In 2021, retail sales of plant-based food in the USA, as reported by the Good Food Institute, increased by 6% to USD 7.4 billion, highlighting the driving force of the guacamole market.

The guacamole market is also expected to thrive due to the increasing demand for ready-to-eat products. Ready-to-eat foods, requiring no additional preparation, appeal to consumers seeking convenient and healthy meal options. Guacamole, known for its nutritional benefits, dietary fiber, flavor enhancement, and antioxidant properties, aligns with this demand. In 2021-22 (April-October), India's exports of ready-to-eat foods surged by 24% to $394 million, indicating a growing market for such products. The incorporation of guacamole into ready-to-eat offerings propels the guacamole market's growth, driven by consumer preferences for flavorful and convenient food choices.

A notable trend in the guacamole market is the emphasis on product innovations by major companies. These companies are actively developing new solutions to strengthen their market positions. For instance, in May 2021, Sabra Dipping Co. LLC introduced its Mexican Street Corn-Inspired Guacamole, featuring lime, sweet corn, chipotle, and Mexican-grown Hass avocados. Such innovations contribute to the dynamic growth of the guacamole market, meeting evolving consumer tastes and preferences.

Advanced solutions, such as the introduction of Guac-a-rita, are driving revenues in the guacamole market. Guac-a-rita, a novel beverage combining margaritas and guacamole, offers a unique and enjoyable experience. The product's design allows consumers to simultaneously enjoy chunky guacamole and a refreshing margarita. In July 2023, Good Foods Group LLC launched Guac-a-rita, providing a distinctive and convenient way to savor two popular summertime treats together. This creative product reflects the market's adaptability to consumer trends, contributing to the continued growth of the guacamole market.

In February 2023, Flagship Food Group, LLC made a strategic move by acquiring Yucatan Foods, LLC, further enhancing its position in the guacamole market. This acquisition strengthens Flagship's portfolio in the Hispanic and South-western categories, incorporating Yucatan guacamole and dips into its offerings. Yucatan Foods, LLC, known for manufacturing and marketing fresh guacamole and salsa, complements Flagship's diversified food product range, illustrating the industry's proactive approach to expansion and innovation.

Major companies operating in the guacamole market report are Avo-King International Inc., Sabra Dipping Company LLC, Westfalia Fruit (Pty) Ltd., Calavo Growers Inc., Ortega - B&G Foods Inc., Ventura Foods LLC, Casa Sanchez SF, Hormel Foods Corporation, Woolworths Group Limited, Wholly Guacamole, Salud Foodgroup Europe BV, MegaMex Foods LLC, Simpson Farms Pty. Ltd., Frontera Foods Inc., UTZ Brands Inc., McCormick & Company Inc., The Bloch & Guggenheimer Foods Inc., Conagra Brands Inc., Snowcrest Foods Ltd., General Mills Inc., Landec Corporation, Fresh Del Monte Produce Inc., Verfruco Foods Inc., Goya Foods Inc., Mission Foods Corporation, Garden of Eatin' Inc., Late July Snacks LLC, Simply Organic, Fresh Express Inc., Grupo Herdez.

North America was the largest region in the guacamole market in 2023. North America is expected to be the fastest-growing region in the global guacamole market during the forecast period. The regions covered in the guacamole market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the guacamole market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of guacamole include nature, organic, and conventional variations. Organic guacamole is derived from avocados grown on organic plants, ensuring they are free from pesticides, fertilizers, and synthetic hormones. The absence of these potentially harmful chemicals makes organic guacamole a safer food option, containing healthy monounsaturated fats that offer benefits such as enhancing brain function and promoting overall health. Guacamole products are available in various packaging formats, including glass bottles, glass jars, plastic containers, and stand-up pouches, and are offered in frozen, dried, and ready-to-make forms. These products are distributed through supermarkets/hypermarkets, convenience stores, online platforms, and specialty stores, catering to households, the food processing industry, and the food service sector.

The guacamole market research report provides guacamole market statistics, including guacamole industry global market size, regional shares, competitors with an guacamole market share, detailed guacamole market segments, market trends and opportunities, and any further data you may need to thrive in the guacamole industry. This guacamole market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The guacamole market consists of sales of guacamole-based spreads, sauce, dips, or salads. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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