New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Guacamole Global Market Report 2023" - https://www.reportlinker.com/p06479710/?utm_source=GNW
, Simpson Farms Pty. Ltd., Frontera Foods, UTZ Brands INC., McCormick & Company INC., and The Bloch & Guggenheimer Foods INC.
The global guacamole market is expected to grow from $1.04 billion in 2022 to $1.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The guacamole market is expected to reach $1.66 billion in 2027 at a CAGR of 9.4%.
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.
Guacamole refers to avocado-based cold food from Mexico made as a dip, spread, or salad with other ingredients such as tomatoes and chilies.It is prepared with mashed, raw avocados mixed with other ingredients, such as tomatoes and onions, to taste.
It is good for heart health, skin, and hair care.
North America was the largest region in the guacamole market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in guacamole report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of guacamole nature, organic, and conventional.Organic guacamole is guacamole obtained from avocados produced by organic plants that are free from pesticides, fertilizers, and synthetic hormones.
Organic guacamole is free from these hazardous chemicals and therefore represents a safer food option containing healthy monounsaturated fat with benefits like boosting brain function and health.The guacamole are available in glass bottles, glass jars, plastic containers, and stand-up pouches packaging in the form of frozen, dried, and ready-to-make.
The guacamole products are distributed through supermarkets/hypermarkets, convenience stores, online, and specialty stores that supplied to households, food processing industry, and food service industry.
The rising demand for wholesome foods and plant-based diets is expected to propel the growth of the guacamole market going forward.Wholesome foods are those that promote good health and meet all quality and labeling requirements required by local laws or regulations.
Foods that help people stay healthy and meet all quality and labeling criteria specified by local laws or regulations are referred to as healthy foods.A plant-based diet consists of plant foods such as fruits and vegetables, nuts, whole grains, seeds, and legumes.
Guacamole is avocado-fruit-based and is considered safe for a plant-based diet as it contains no animal products.Hence, the growth of the guacamole market is supported by a rise in demand for wholesome foods and plant-based diets.
For instance, in 2021, according to the Good Food Institute, a US-based non-profit international network of organizations that accelerates alternative protein innovation, retail sales of plant-based food in the USA increased by 6% from USD 6.9 billion in 2020 to USD 7.4 billion in 2021. Therefore, the rising demand for wholesome foods and plant-based diets is driving the growth of the guacamole market.
Product innovations are a key trend gaining popularity in the guacamole market.Major companies operating in the guacamole market are focused on developing new solutions to strengthen their position in the market.
In May 2021, Sabra Dipping Co.LLC, a US-based company that produces Middle Eastern-style and other food products, including hummus and guacamole, launched its new Mexican Street Corn-Inspired Guacamole.
The new product is available in a 1 lb (16 oz) package with a resealable lid and is made with lime, juicy sweet corn, chipotle, and hand-picked, Mexican-grown Hass avocados.
In February 2023, Flagship Food Group, LLC, a US-based diversified food company, acquired Yucatan Foods, LLC, for an undisclosed amount.Through this acquisition, Flagship strengthens its offerings in the Hispanic and South-western categories by adding Yucatan guacamole and dips to its portfolio.
Yucatan Foods, LLC, is a US-based company that manufactures and markets fresh guacamole and salsa under its brands.
The countries covered in the guacamole market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
The guacamole market research report is one of a series of new reports that 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.
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