According to a new report published by Allied Market Research, titled, “Guacamole Market,” The guacamole market was valued at $852.30 million in 2021, and is estimated to reach $1.5 billion by 2031, growing at a CAGR of 5.8% from 2022 to 2031.
Guacamole has several health advantages and is a fantastic source of potassium, antioxidants, and healthy fats. As a result, the demand for guacamole is expected to rise dramatically as more people try to lead healthier lives by eating wholesome meals. Guacamole 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 full until their next meal by encouraging satiety.
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Top Key Players In Guacamole Market:
The major players operating in the guacamole industry focus on key market strategies, such as mergers, product launches, acquisitions, collaborations, and partnerships. Some of the key players in the guacamole market 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.
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Key findings of the study
- By end-user, the food service industry segment was the highest revenue contributor to the market with $394.5 million in 2021, and is estimated to reach $675.2 million by 2031, with a CAGR of 5.7%.
- By packaging, the glass bottles segment was the highest revenue contributor to the market, with $417.1 million in 2021, and is estimated to reach $720.4 million by 2031, with a CAGR of 5.8%.
- By distribution channel, the specialty store was significant revenue contributor to the market, with $164.6 million in 2021, and expected to grow at CAGR of 5.8% during forecast period.
- Region-wise, North America was the highest revenue contributor, accounting for $412.5 million in 2021, and is estimated to reach $653.3 million by 2031, with a CAGR of 4.9%.
Regional Outlook:
In 2021, North America accounted for a 48.4% share of the guacamole market and is expected to maintain its dominance during the forecast period. The popularity of Mexican food outside of Mexico is helping the guacamole business expand. Major market participants are also all concentrated in North America, where domestic production of raw material is declining. As a result of the favorable trade relations between the two regions, Mexico has become a popular destination for guacamole manufacturers looking to either, buy raw ingredients or establish processing facilities. Thus, the above factors are likely to supplement the North America guacamole market growth during the forecast period.
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