IndexBox, Inc. has just published a new report “World – Avocados – Market Analysis, Forecast, Size, Trends, and Insights”. Here is a summary of the report’s key findings.
Avocado Imports
In 2017, approx. 2.1M tonnes of avocados were imported worldwide; going up by 12% against the previous year figure. Overall, avocado imports continue to indicate a remarkable expansion. The most prominent rate of growth was recorded in 2014, an increase of 21% year-to-year. Global import peaked in 2017, and are expected to retain its growth in the near future.
In value terms, avocado imports totaled $6B in 2017. In general, avocado imports continue to indicate a prominent expansion. Over the period under review, avocado imports attained its maximum level in 2017, and are likely to see steady growth in the immediate term.
Avocado Imports By Country
The U.S. (928K tonnes) was the major importing country with an import of around 928K tonnes, which finished at 43% of total imports. It was distantly followed by the Netherlands (207K tonnes), France (146K tonnes), Canada (123K tonnes), the UK (105K tonnes), and Spain (98K tonnes), together creating 32% share of total imports. Germany (71K tonnes), Japan (61K tonnes), and China (32K tonnes) followed a long way behind the leaders.
Imports into the U.S. increased at an average annual rate of +10.3% from 2007 to 2017. At the same time, China (+24.1%), Canada (+18.1%), the Netherlands (+15.2%), Spain (+14.8%), Germany (+13.1%), the UK (+8.8%), Japan (+8.6%), and France (+2.8%) displayed positive paces of growth. Moreover, China emerged as the fastest growing importer in the world, with a CAGR of +24.1% from 2007-2017. From 2007 to 2017, the share of Japan, France, Germany, the UK, Spain, Canada, the Netherlands, and the U.S. decreased by -1.6%, -1.6%, -2.3%, -2.8%, -3.4%, -4.7%, -7.3%, and -27.1% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the U.S. ($2.7B) constitutes the largest market for imported avocados worldwide, making up 45% of global imports. The second position in the ranking was occupied by the Netherlands ($553M), with the share of 9% of global imports. It was followed by France, with the share of 7%.
In the U.S., avocado imports expanded at an average annual rate of +16.1% over the period from 2007-2017. In the other countries, the average annual rates were as follows: the Netherlands (+19.2% per year) and France (+8.2% per year).
Avocado Import Prices By Country
In 2017, the average import price for avocados amounted to $2,810 per tonne, jumping by 13% against the previous year. Over the period from 2007 to 2017 it increased at an average annual rate of +4.6%. The pace of growth was the most pronounced in 2011 when import increased by 22% y-o-y. Over the period under review, average import price for avocado attained its maximum level in 2017, and is likely to see steady growth in the immediate term.
Import prices varied noticeably by country of destination; the country with the highest import price was Germany ($3,805 per tonne), while China ($904 per tonne) was among the lowest.
From 2007 to 2017, the most notable growth rate of import prices was attained by Germany (+6.5% per year), while the other global leaders experienced more modest paces of growth.
Description
Countries coverage: Worldwide – the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries (United States, China, Japan, Germany, United Kingdom, France, Brazil, Italy, Russian Federation, India, Canada, Australia, Republic of Korea, Spain, Mexico, Indonesia, Netherlands, Turkey, Saudi Arabia, Switzerland, Sweden, Nigeria, Poland, Belgium, Argentina, Norway, Austria, Thailand, United Arab Emirates, Colombia, Denmark, South Africa, Malaysia, Israel, Singapore, Egypt, Philippines, Finland, Chile, Ireland, Pakistan, Greece, Portugal, Kazakhstan, Algeria, Czech Republic, Qatar, Peru, Romania, Vietnam) + the largest producing countries.
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