Global avocado industry worth $18 billion, industry growth far from over

The industry research report "2023 World Avocado Report: Global Growth is Far from Over" released by Rabobank shows that the global production and trade of avocados have experienced rapid growth in the past decade. The attractive characteristics of avocados have driven demand, Profit drives the increase in production. In the next few years, the avocado trade will continue to grow, but the market competition will become increasingly fierce, and practitioners need to choose more efficient and sustainable development methods. The overall supply of avocado is expected to remain stable , consumers in major markets will benefit from relatively affordable prices, and the popularity of avocado will further increase. Total global avocado production will exceed 8.4 million tons in 2022, and global production has grown at a compound annual growth rate (CAGR) of approximately 7% over the past decade. Attractive prices and returns over the period have prompted major production regions to ...