Turns out almost 87.3 million pounds of this luscious stone fruit will be consumed—that's 175 million individual avocados. Right now, you’re probably thinking - no way you should be missing out on this avocado avalanche of opportunity. And you’re right. But are you tapping into the full retail power of this event?
Two key drivers behind the price surge have been weak harvests and, most importantly, increasing demand. This growth shows no sign of slowing as health-conscious consumers show interest in avocados not only as a versatile and well-loved food but in cosmetics and pharmaceuticals as well.
In 2018, analysts valued the global avocado market at $13.64 billion US, predicting an overall value of $21.56 billion2 US by 2026—a healthy compound annual growth rate of 5%.
As Cinco de Mayo approaches, more and more consumers will seek out this superfood for its high nutrient value, rich flavor and buttery texture. Retailers looking to satisfy the demands of health-conscious customers should not overlook the opportunity frozen avocados offer to drive demand well after the celebrations are over.
Looking to add frozen avocados to your private label line-up? Contact-us!
FreshFruitPortal.com, U.S.: Avocado price spike ‘largely the result of undersupply’, suppliers say, April 2019
Transparency Market Research, Global Avocado Market to Reach US$21.56 bn by 2026