Avocado: The global consumer boom is set to continueAvocado: The global consumer boom is set to continue

Over the last decade, global avocado production has grown by around 7% per year, reaching just over 8.4 million tonnes in 2022. This increase in production has made it possible to offer avocados all year round in key markets, including the United States, the EU and certain Asian markets.

 

According to a Rabobank study, over the last decade, avocado production in Mexico (30% of world production) has grown by around 6% a year, in Colombia by 15% a year, in Peru by 12% a year and in Kenya by 11% a year.

 

Consumer demand has risen sharply, driving up exports: Mexico is the world's No. 1 exporter of avocados, with an average annual growth rate of around 8% over the last decade, topping 1 million tonnes by 2022. Exports are also growing from Peru (+22% per year), Spain (+6%) and Kenya (+15%), as well as Colombia, Chile, South Africa, Israel and Morocco.

The study estimated the global market value of fresh avocados in 2022 at USD 18 billion. The United States and Canada accounted for around 27%, Europe 22%, Asia 11%, Oceania 4% and Africa 4%.

 

Over the next few years, the study predicts that the avocado trade will continue to grow in several markets around the world. Particularly in Asia, where per capita consumption (production+imports-exports) is much lower than in North America and Europe.