Guacamole is a thick or semi-liquid paste of the avocado fruit that is mixed with chopped tomatoes, onions, chilli peppers, and seasoning. Guacamole is a native dip/ spread from Mexico, first developed during the Aztec civilization. With globalization, guacamole has become a part of international cuisine, due to which, its demand has increased significantly. Guacamole is made up majorly of avocado, which is a rich source of vitamins, minerals, and fats. Guacamole is becoming very popular in the U.S., owing to the increasing consumption of fast food items and the health benefits that it offers. Since the U.S. government lifted the ban on avocados, the consumption of guacamole has increased significantly, which is expected to bolster the demand for guacamole over the forecast period.
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Increasing Hispanic Population in the U.S.
The Hispanic population in the U.S. is increasing at 2.0% annually, which is the second-highest in the region. Till 2016, this population accounted for around 58 Mn according to the United States Census Bureau. This population is considered as the major consumer of avocados and guacamole. The rise in this population in the region is expected to result in an increase in the consumption of guacamole and other related products over the forecast period. Moreover, food items with guacamole, in the region, are expected to witness high demand over the near future. The demand for products such as guacamole mayo, guacamole spreads, and guacamole salad dressers are already on the rise. Awareness about the benefits of guacamole is expected to increase through the Internet of Things and the media, which is expected to boost the demand for guacamole over the forecast period.
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Global Guacamole Market: Key Players
Some of the key players operating in the global guacamole market are Avo-King, Wholly Guacamole, Snowcrest Foods Ltd., SABRA DIPPING CO., LLC, Yucatan Foods, Westfalia Fruit, Frontera Foods, Calavo Growers, B&G Foods Inc., Ventura Foods, LLC, Casa Sanchez SF, and Woolworths Group Limited, among others. With a number of players entering the guacamole market, it’s anticipated that the demand will increase significantly, globally.
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Opportunities for Market Participants
The demand for processed food is increasing significantly. On-the-go food products with guacamole are expected to witness high demand in North America and Europe. Products such as guacamole mayo, guacamole dips, and guacamole salad dressers are gaining traction in the global market. North America and Europe are experiencing heavy demand in the healthy food segment, since the population in the region has high awareness about the contents in their food, and are aware about the contents of the products that they use. Guacamole is placed into the market as an immediate healthier alternative to tomato sauce, which at times is also processed artificially. Guacamole has taken its place in fast food chains, where it has become pretty much mainstream. This is expected to fuel the demand for guacamole, globally, as its nutrition content is higher than most edible sauces or dips. With innovative advertisements, there is still plenty of opportunities for guacamole manufacturers to increase the demand for guacamole. Despite the guacamole being popular in the U.S. and Europe region, the market is still lacking in terms of household penetration. Reaching new households with continued investments in media and encouraging current consumers with new varieties or flavored products are expected help guacamole continue its rapid global rise.
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