Guacamole Market size is estimated at $1.2 billion in 2020, projected to grow at a CAGR of 7.2% during the forecast period 2021-2026. Guacamole is a sauce, dip, spread or salad made from avocado that was initially made in Mexico. It may also include other ingredients like tomatoes, white onions, cilantro and chili peppers. Avocado is a well-endowed source of vitamins, minerals and fats. It is a healthful alternative for purchasers owing to the availability of large fiber content. Furthermore, guacamole is stuffed with potassium which supports the body to keep up the suitable liquid equilibrium. These health benefits are fuelling the growth of the Guacamole market. There are also guacamole salad dressers available. A salad dresser is a sauce made for salads, generally containing oil and vinegar. The benefits of including guacamole mayo as salad dresser is that it imparts smooth texture and casts a merry flavor and also increases the fat content. The guacamole market is being driven by rising worldwide integration which has led to guacamole being included in various international cuisines in addition to Mexican cuisine. This has culminated in a compelling boost in demand which in turn is propelling the Guacamole market during the forecast period 2021-2026.
Guacamole Market Segment Analysis – By Type:
Based on Type, Organic Guacamole Market accounted for the largest revenue market share in 2020 owing to the people’s increasing inclination towards healthier diet options amidst the crisis created by the COVID-19 Pandemic. Customers worldwide opted for plant-based diet like salad dressers options owing to increased mindfulness of health and switching customer preferences. The Organic segment is estimated to grow with the fastest CAGR of 8.1% during the forecast period 2021-2026 owing to changing lifestyles and increased inclination of the population towards natural diet options at a global level.
Guacamole Market Segment Analysis – By Application :
Based on Distribution Channel, Hypermarkets and Supermarkets dominates the Guacamole Market in 2020 owing to great demand for avocado fruits in retail. All the supermarkets and hypermarkets, convenience stores, specialist retailers, restaurants and online stores have contributed to the growth of the Guacamole Market. Availability of wide options of salad dressers the product at one place is significantly contributing to the growth of indirect sales channel. The Online sector is estimated to dominate the Guacamole Market during the forecast period 2021-2026 owing to global lockdowns and stay-at-home restrictions enforced by the pandemic crisis.
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Guacamole Market Segment Analysis – By Geography:
Based on Geography, North America Guacamole Market accounted for the dominant revenue share of 43% in 2020. Guacamole was initially prepared in Mexico and then spread to other parts of the world. Furthermore, it is prepared from Avocados which are extensively harvested in Mexico and the U.S.A. These determinants have propelled the growth of the Guacamole market in the North American region. South America is estimated to grow with the fastest CAGR in the forecast period 2021- 2026 owing to countries like Dominican Republic and Peru being the significant avocado generating countries. The Guacamole market is rapidly spreading to Europe owing to boost in globalization which has caused guacamole to be included in different international cuisines and used as salad dressers apart from the conventional Mexican cuisine. The health benefits of avocados coupled with the increase in average consumption of avocados are driving the growth of the Guacamole market during the forecast period 2021-2026.
Guacamole Market Drivers
Increased Worldwide Integration, Changing Diet Preferences And Increased Infiltration of Social Media:
The rapid globalization has caused guacamole to expand its reach from its native Mexico to different parts of the world. Guacamole has now been accepted as part of different international cuisines. This has pushed up the demand for guacamole. Furthermore, the progress of the fast-food industry worldwide is propelling the growth of the guacamole market owing to the reason that guacamole is being used as a dressing and dip in the fast food industry. The increased worldwide integration has resulted in the customer base of guacamole spreading from its conventional markets in North America to different European and Asian nations. The altering diet preferences to plant-based food products like salad dressers and increased infiltration of social media platforms are driving the growth of the Guacamole market.
Guacamole Market Challenges
Price Constraints Imposed By Avocadoes And Constraints Imposed By Short Shelf Life Of Guacamole :
Avocados are expensive and thus it becomes an out of reach product for a middle-income group posing significant challenge to the guacamole market. Many customers consider avocados too perishable to purchase and efforts to make them last long pose a further challenge for its acceptance. Though there is great demand for avocados, maintaining supplies and managing a greatly perishable commodity that has a short shelf life and can result in wastage of food are some issues that are challenging the guacamole market.
Guacamole Market Landscape:
The Guacamole Market’s main strategies include innovative product launches, mergers and acquisitions, joint ventures, and regional expansion. Guacamole Market top 10 companies are Avo-King, Wholly Guacamole, Snowcrest Foods Ltd., SABRA DIPPING CO., LLC, Yucatan Foods, Westfalia Fruit, Frontera Foods, Calavo Growers, B&G Foods Inc., and Ventura Foods, LLC,.
Acquisitions/Product Launches:
In August 2020, the manufacturers of WHOLLY GUACAMOLE introduced a novel package refresh encouraged by the brand’s value scheme – ALL REAL.NO DRAMA. – the dedication to support customers appreciate the benefits of avocado without the fuss. WHOLLY commodities are prepared with hand-scooped Hass avocadoes, true constituents and no added preservatives owing to the utilization of high-pressure technology. To set their product apart from rivals and to attract customers, the brand sought the help of creative agency, Chase Design Group, to create a fundamental and clear packaging remodel.
Key Takeaways
Guacamole Market growth is being driven by the inclination of purchasers towards avocados which are recognized as healthy and having good fats.
Geographically, North America Guacamole Market dominated the market share in 2020 owing to Guacamole being of Mexican origin and avocadoes being gathered in abundance in Mexico. Furthermore, the health advantages offered by Avocados are fuelling the Guacamole market during the forecast period 2021-2026,
Guacamole is a valuable source of powerful oxidants and moderate quantities of unsaturated fats which enhance health. Some of the other associated beneficial effects of consuming guacamole are a healthy weight of body, decreased bloating and a sparkling skin. These advantages are propelling the guacamole market during the forecast period 2021-2026.
Boost in disposable incomes and altered lifestyles are propelling the Guacamole market during the forecast period 2021-2026.
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