Global avocado update 2024: Trade gradually shifting as industry expands

Production and exports are poised to expand, with varying growth rates across different production regions. By 2026, we expect Mexico, Peru, and Colombia to be the largest avocado exporters. While Latin America will continue to dominate the avocado export market, production and exports will diversify globally. To remain profitable, industry players must innovate in response to increasingly competitive markets and supply-side challenges.

The US will continue to be the largest avocado importer, increasingly relying on imports. Mexico is well-positioned to supply over 90% of US imports. In Europe, avocado consumption levels vary significantly by nation, but lagging countries are catching up. There is substantial growth potential in Asian and Latin American markets.

While Hass avocados will continue to dominate, Hass-like varieties that have higher yield potential and improved efficiencies, will gradually gain adoption in the coming years.

The industry’s landscape remains fragmented in some countries. Increasing competition and margin pressures will drive consolidation, particularly in certain areas of South America.