Colombia Might Soon Surpass Asia & Africa on Avocado Production
Colombia's avocado output surged 218% since 2017, propelled by US demand and year-round farming.
Latin America continues to be a leader in avocado production, with countries like Colombia experiencing explosive growth in production.
According to Grand View Research, the global avocado market is valued at $14B and is expected to grow annually by 7.2% in 2022-2030. Latin America dominates the production of avocados, with 75% of the world's avocado-producing areas located in the region, primarily due to the fruit's origin in Mexico.
Mexico is the largest producer in this market, but Colombia's recent production increase is particularly noteworthy. In 2021, Colombia produced 970K tons of avocado, a 218% increase from their 2017 production, becoming the second-largest producer in the world (now on the verge of surpassing the production of entire continents like Asia and Africa). This growth can be attributed to the favorable farming conditions in the region, which allow for year-round avocado production.
Besides great farming conditions, what is driving the upward trend in avocado production observed in Colombia and elsewhere? The answer: Massive US demand.
Young Americans are becoming increasingly health-conscious, which has increased awareness in the nutritional value of avocados, and has created an emerging market for processed avocado products such as chips and oil (and, yes… avocado bowls). In 2021, an estimated 46% of the avocado market's revenue came from the US. The Superbowl also has a significant effect on the avocado industry, as consumption of avocados in the US increases around this time of year. It is estimated that 20% of the annual avocado sales in the US take place during the Superbowl weekend. In Avocados from Mexico’s world, there’s a future in which NYC’s nickname changes from the Big Apple to the Big Avocado.
Onwards, the fastest growth in the market is expected to come from the Asia-Pacific region, and countries like Colombia, which has expanded its Asian avocado export facilities, are positioning themselves to serve this market well and compete with Mexico, by far the world’s leader.
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