Guacamole is a thick or semi-liquid paste of the avocado fruitthat is mixed with chopped tomatoes, onions, chilli peppers, and seasoning.Guacamole is a native dip/ spread from Mexico, first developed during the Azteccivilization. With globalization, guacamole has become a part of internationalcuisine, due to which, its demand has increased significantly. Guacamole ismade up majorly of avocado, which is a rich source of vitamins, minerals, andfats. Guacamole is becoming very popular in the U.S., owing to the increasingconsumption of fast food items and the health benefits that it offers. Sincethe U.S. government lifted the ban on avocados, the consumption of guacamolehas increased significantly, which is expected to bolster the demand forguacamole over the forecast period.
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Increasing Hispanic Population inthe U.S.
TheHispanic population in the U.S. is increasing at 2.0% annually, which is thesecond-highest in the region. Till 2016, this population accounted for around58 Mn according to the United States Census Bureau. This population isconsidered as the major consumer of avocados and guacamole. The rise in thispopulation in the region is expected to result in an increase in theconsumption of guacamole and other related products over the forecast period.Moreover, food items with guacamole, in the region, are expected to witnesshigh demand over the near future. The demand for products such as guacamolemayo, guacamole spreads, and guacamole salad dressers are already on the rise.Awareness about the benefits of guacamole is expected to increase through theInternet of Things and the media, which is expected to boost the demand forguacamole over the forecast period.
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Global Guacamole Market: Key Players
Some ofthe key players operating in the globalguacamole market are Avo-King, Wholly Guacamole, Snowcrest Foods Ltd.,SABRA DIPPING CO., LLC, Yucatan Foods, Westfalia Fruit, Frontera Foods, CalavoGrowers, B&G Foods Inc., Ventura Foods, LLC, Casa Sanchez SF, andWoolworths Group Limited, among others. With a number of players entering theguacamole market, it’s anticipated that the demand will increase significantly,globally.
Opportunities for MarketParticipants
The demandfor processed food is increasing significantly. On-the-go food products withguacamole are expected to witness high demand in North America and Europe.Products such as guacamole mayo, guacamole dips, and guacamole salad dressersare gaining traction in the global market. North America and Europe areexperiencing heavy demand in the healthy food segment, since the population inthe region has high awareness about the contents in their food, and are awareabout the contents of the products that they use. Guacamole is placed into themarket as an immediate healthier alternative to tomato sauce, which at times isalso processed artificially. Guacamole has taken its place in fast food chains,where it has become pretty much mainstream. This is expected to fuel the demandfor guacamole, globally, as its nutrition content is higher than most ediblesauces or dips. With innovative advertisements, there is still plenty ofopportunities for guacamole manufacturers to increase the demand for guacamole.Despite the guacamole being popular in the U.S. and Europe region, the marketis still lacking in terms of household penetration. Reaching new householdswith continued investments in media and encouraging current consumers with newvarieties or flavored products are expected help guacamole continue its rapidglobal rise.
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