The Middle East & Africa avocado and avocado derivatives market is expected to grow from US$ 217.38 million in 2022 to US$ 272.00 million by 2028. It is estimated to grow at a CAGR of 3.8% from 2022 to 2028.
Rising Demand for Natural Ingredients in Various Industries in Middle East & Africa Avocado and Avocado Derivatives Market
Organic and natural products are gaining significant popularity owing to their perceived health benefits. People in the region are highly concerned about their health and wellness, and they pay more attention to ingredients used in processed products. They are willing to pay high prices for products that are free of synthetic ingredients. Thus, industries such as personal care, food & beverages, and pharmaceutical are incorporating plant-based ingredients such as avocado oil, powder, and extract into their products. With a focus on holistic and conscious food consumption, consumers prefer products made with natural and ethically sourced ingredients. Moreover, using natural substances for cosmetics manufacturing, which have no adverse effects on the skin, is common approach manufacturers use to attract more customers. Thus, the increasing demand for natural ingredients among various end-use industries is expected to further create a lucrative growth opportunity for the Middle East & Africa avocado and avocado derivatives market.
Middle East & Africa Avocado and Avocado Derivatives Market Overview
With a recovery in economic growth and appreciation of the local currency following the recession and severe depreciation in 2016, food & beverages, cosmetics & personal care, and pharmaceuticals industries witnessed significant growth in the region. Additionally, consumers’ inclination toward healthy choices offered by avocado and avocado-based products is fueling the growth of the food & beverages market in the region.
According to South Africa Online (Pty) Ltd., South Africa is one of the world's major avocado producers. However, its annual production of between 80,000 and 120,000 tons is far behind top producer Mexico's 1.5 million tons. The export estimate for the 2019 season from March to October was 14.5 million of 4 kg cartons, which amounts to 58,000 tons. Derek Donkin, CEO of the South African Subtropical Growers' Association (Subtrop), estimated that, till 2019, total 110,000 tons of crops would be planted. Therefore, future production of avocados in South Africa is expected to grow, with an additional 1000–1500 ha to be planted annually for at least the next five years from 2019 onward. Exports should exceed 20 million cartons at this growth rate and will expand if the industry continues to grow. As consumers across the region are becoming more sophisticated and health conscious, they are increasingly preferring natural and organic products to standard products. The growing awareness regarding the benefits of consuming avocado and avocado-based products is augmenting the market growth.
Middle East & Africa Avocado and Avocado Derivatives market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Avocado and Avocado Derivatives market Segmentation
The Middle East & Africa avocado and avocado derivatives market is segmented on the basis of type, category, application, and country. Based on type, the Middle East & Africa avocado and avocado derivatives market is segmented into whole, oil, puree, and others. The whole segment registered a larger market share in 2022.
Based on category, the Middle East & Africa avocado and avocado derivatives market is bifurcated into organic, and conventional. The conventional segment registered a larger market share in 2022.
Based on application, the Middle East & Africa avocado and avocado derivatives market is segmented into food and beverages, pharmaceuticals and nutraceuticals, personal care, and others. The food and beverages segment registered the largest market share in 2022.
Based on country, the Middle East & Africa avocado and avocado derivatives market is segmented into South Africa, Saudi Arabia, UAE, and the Rest of Middle East & Africa. Rest of Middle East & Africa dominated the market share in 2022.
Avocado Brasil Comercio de Alimentos Ltda, ConnOils LLC, Exportadora Propal SA, Lemonconcentrate SLU, Meridian Fruits SPR de RL de CV, Mission Produce Inc, Salud Foodgroup Europe BV, and Westfalia Fruit Pty Ltd are the leading companies operating in the Middle East & Africa avocado and avocado derivatives market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 217.38 Million |
| Market Size by 2028 | US$ 272.00 Million |
| CAGR (2022 - 2028) | 3.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
|
Regions and Countries Covered
|
|
| Middle East and Africa | South Africa, Saudi Arabia, UAE, Rest of Middle East and Africa |
| Market leaders and key company profiles |
|
The Middle East & Africa Avocado and Avocado Derivatives Market is valued at US$ 217.38 Million in 2022, it is projected to reach US$ 272.00 Million by 2028.
As per our report Middle East & Africa Avocado and Avocado Derivatives Market, the market size is valued at US$ 217.38 Million in 2022, projecting it to reach US$ 272.00 Million by 2028. This translates to a CAGR of approximately 3.8% during the forecast period.
The Middle East & Africa Avocado and Avocado Derivatives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Avocado and Avocado Derivatives Market report:
The Middle East & Africa Avocado and Avocado Derivatives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Avocado and Avocado Derivatives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Avocado and Avocado Derivatives Market value chain can benefit from the information contained in a comprehensive market report.
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