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Avocado Market by Product and Geography - Forecast and Analysis 2022-2026

  • Published: Oct 2022
  • Pages: 131
  • SKU: IRTNTR40399
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The avocado market share is expected to increase by USD 4.8 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.04%.

This avocado market research report provides valuable insights into the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the avocado market segmentation by product (conventional and organic) and geography (North America, South America, APAC, the Middle East and Africa, and Europe). The avocado market report also offers information on several market vendors, including Aguacates Selecionales JBR SA de C.V., Brooks Tropicals LLC, Calavo Growers Inc., Costa Group Holdings Ltd., Del Monte Food Inc., Del Rey Avocado Co. Inc., Fresca Group Ltd., Greenyard NV, Henry Avocado Corp., Index Fresh Inc., McDaniel Fruit Co., Melissas World Variety Produce Inc., Nature's Touch Frozen Foods Inc., Propal, Rincon Farms Produce, Salud Foodgroup Europe BV, Tesco Plc, The Jupiter Group, West Pak Avocado Inc., and Westfalia Fruit Pty Ltd. among others.

What will the Avocado Market Size be During the Forecast Period?

Avocado Market Size

Download Report Sample to Unlock the Avocado Market Size for the Forecast Period and Other Important Statistics

 

Avocado Market: Key Drivers, Trends, and Challenges

Our researcher studied the historical data for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends and challenges for the global avocado market. During the COVID-19 pandemic, the demand in the avocado market has been impacted significantly, but a holistic analysis of drivers will help in estimating exact demands and refining marketing strategies to gain a competitive advantage.

Key Avocado Market Driver

The health benefits of avocados are a key factor driving the global avocado market growth. The health benefits of avocados and awareness among consumers about these health benefits can positively influence the growth of the global avocado market during the forecast period. Avocados are a good source of vitamins C, E, K, and B-6, and they are rich in nutrients, riboflavin, niacin, folate, pantothenic acid, magnesium, potassium, lutein, and omega-3 fatty acids. Moreover, avocados have high fiber content, which helps to improve digestion. Eating foods with high fiber content can prevent constipation, maintain a healthy digestive tract, and reduce the risk of colon cancer. Similarly, avocados help in improving bone health, as they are rich in vitamin K. Consuming a diet with adequate vitamin K can support bone health by increasing calcium absorption and reducing the amount of calcium excreted in the urine. Thus, various health benefits associated with the consumption of avocados will drive the growth of the global avocado market during the forecast period.

Key Avocado Market Trend

The adoption of new technologies will fuel the global avocado market growth. The adoption of new technologies by vendors can positively influence the growth of the global avocado market during the forecast period. Vendors are coming up with new technologies to increase the shelf life of avocado products. Moreover, smart packaging can relay real-time information about the ripeness of avocados. The packaging uses a radio-frequency identification (RFID) tag, which can detect certain dielectric variations in the fruit pulp, such as turgidity, acidity, water content, and sugar content, which are associated with ripeness. Coatings such as Naturcover from DECCO IBERICA POST-COSECHA, S.A.U., help in reducing losses caused by dehydration and allow fruits to retain their firmness and serve as a carrier of fungicides. Naturcover can be applied to various fruits, such as avocados, pomes, citrus fruits, and melons. Thus, the adoption of such new technologies will drive the growth of the global avocado market during the forecast period.

Key Avocado Market Challenge

The low popularity of avocado oil is the major challenge to the global avocado market growth. One of the biggest challenges for avocado oil is that most people are unaware of the product. Avocado fruit is quite popular in almost all parts of the world, but most consumers do not know about avocado oil. While other oils, such as olive oil, coconut oil, soybean oil, and canola oil, are more well-known than avocado oil and have higher demand than avocado oil. This is primarily due to the easy availability and lower price of these oils when compared to avocado oil. Similarly, olive oil is popular in the market as heart-healthy oil, and its promotions are in accordance with this attribute of olive oil. Thus, media channels play an important part in increasing product awareness among consumers. While there are limited advertisements and commercials for avocado oil, consumers are not quite aware of the benefits that avocado oil offers. These factors will negatively impact the growth of the global avocado market during the forecast period.

This avocado market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global avocado market as a part of the global agricultural products market under the global food products market of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the avocado market during the forecast period.

Who are the Major Avocado Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aguacates Selecionales JBR SA de C.V.
  • Brooks Tropicals LLC
  • Calavo Growers Inc.
  • Costa Group Holdings Ltd.
  • Del Monte Food Inc.
  • Del Rey Avocado Co. Inc.
  • Fresca Group Ltd.
  • Greenyard NV
  • Henry Avocado Corp.
  • Index Fresh Inc.
  • McDaniel Fruit Co.
  • Melissas World Variety Produce Inc.
  • Nature's Touch Frozen Foods Inc.
  • Propal
  • Rincon Farms Produce
  • Salud Foodgroup Europe BV
  • Tesco Plc
  • The Jupiter Group
  • West Pak Avocado Inc.
  • Westfalia Fruit Pty Ltd.

 

This statistical study of the avocado market encompasses successful business strategies deployed by the key vendors. The avocado market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • indexfresh.com - The company offers avocados such as Hass, Lamb Hass, and GEM avocados.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.

The avocado market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Avocado Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the avocado market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global food products market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Avocado Market?

Avocado Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

34% of the market’s growth will originate from North America during the forecast period. Mexico and the US are the key markets for the avocado market in North America. Market growth in this region will be faster than the growth of the market in other regions.

The health benefits of avocados will facilitate the avocado market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

The COVID-19 pandemic spread widely across North America, particularly in the US, in 2020. Various countries, such as the US and Canada, imposed lockdown restrictions in the region to contain the spread of the disease. The pandemic increased health concerns among people, and they started cooking at home, owing to the restrictions imposed by governments on their movement. This significantly increased the consumption of food products, such as avocados, in 2020. As a result, vendors witnessed growth in revenue in 2020. Additionally, the regional market in focus is anticipated to witness growth owing to the increasing consumption of avocados by people owing to their immunity-boosting properties and the resumption of normal operations in the food and beverage industry due to the lifting of the lockdown measures.

What are the Revenue-generating Product Segments in the Avocado Market?

Avocado Market Share

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The avocado market share growth in the conventional segment will be significant during the forecast period. The demand for conventional avocados is expected to increase during the forecast period, owing to awareness among people about the health benefits of avocados, as they are rich in essential vitamins and minerals. The use of avocados as an ingredient in the production of several food products will increase the demand for conventional avocados during the forecast period. Avocados are used to make avocado oil and in guacamole and salads. The launch of new products that have avocados as an ingredient will help the growth of the segment during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the avocado market size and actionable market insights on the post-COVID-19 impact on each segment.

 

Avocado Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.04%

Market growth 2022-2026

$4.8 billion

Market structure

Fragmented

YoY growth (%)

5.65

Regional analysis

North America, South America, APAC, the Middle East and Africa, and Europe

Performing market contribution

North America at 34%

Key consumer countries

Mexico, US, Indonesia, Chile, Colombia, and Peru

Competitive landscape

Leading companies, Competitive Strategies, Consumer engagement scope

Key companies profiled

Aguacates Selecionales JBR SA de C.V., Brooks Tropicals LLC, Calavo Growers Inc., Costa Group Holdings Ltd., Del Monte Food Inc., Del Rey Avocado Co. Inc., Fresca Group Ltd., Greenyard NV, Henry Avocado Corp., Index Fresh Inc., McDaniel Fruit Co., Melissas World Variety Produce Inc., Nature's Touch Frozen Foods Inc., Propal, Rincon Farms Produce, Salud Foodgroup Europe BV, Tesco Plc, The Jupiter Group, West Pak Avocado Inc., and Westfalia Fruit Pty Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Avocado Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive avocado market growth during the next five years
  • Precise estimation of the avocado market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the avocado industry across North America, South America, APAC, the Middle East and Africa, and Europe
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of avocado market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 24: Chart on Product - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
    • 5.2 Comparison by Product
      • Exhibit 26: Chart on Comparison by Product
      • Exhibit 27: Data Table on Comparison by Product
    • 5.3 Conventional - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Conventional - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Conventional - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Conventional - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Conventional - Year-over-year growth 2021-2026 (%)
    • 5.4 Organic - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Organic - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Organic - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Organic - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Organic - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 36: Market opportunity by Product ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 South America - Market size and forecast 2021-2026
      • Exhibit 46: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 Europe - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.8 Mexico - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Mexico - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Mexico - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Mexico - Year-over-year growth 2021-2026 (%)
    • 7.9 Chile - Market size and forecast 2021-2026
      • Exhibit 66: Chart on Chile - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on Chile - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on Chile - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on Chile - Year-over-year growth 2021-2026 (%)
    • 7.10 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.11 Indonesia - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Indonesia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Indonesia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Indonesia - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Indonesia - Year-over-year growth 2021-2026 (%)
    • 7.12 Colombia - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Colombia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Colombia - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Colombia - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Colombia - Year-over-year growth 2021-2026 (%)
    • 7.13 Peru - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Peru - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Peru - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Peru - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Peru - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Costa Group Holdings Ltd.
              • Exhibit 93: Costa Group Holdings Ltd. - Overview
              • Exhibit 94: Costa Group Holdings Ltd. - Business segments
              • Exhibit 95: Costa Group Holdings Ltd. - Key offerings
              • Exhibit 96: Costa Group Holdings Ltd. - Segment focus
            • 10.4 Del Monte Food Inc.
              • Exhibit 97: Del Monte Food Inc. - Overview
              • Exhibit 98: Del Monte Food Inc. - Business segments
              • Exhibit 99: Del Monte Food Inc. - Key news
              • Exhibit 100: Del Monte Food Inc. - Key offerings
              • Exhibit 101: Del Monte Food Inc. - Segment focus
            • 10.5 Del Rey Avocado Co. Inc.
              • Exhibit 102: Del Rey Avocado Co. Inc. - Overview
              • Exhibit 103: Del Rey Avocado Co. Inc. - Product / Service
              • Exhibit 104: Del Rey Avocado Co. Inc. - Key offerings
            • 10.6 Henry Avocado Corp.
              • Exhibit 105: Henry Avocado Corp. - Overview
              • Exhibit 106: Henry Avocado Corp. - Product / Service
              • Exhibit 107: Henry Avocado Corp. - Key offerings
            • 10.7 Index Fresh Inc.
              • Exhibit 108: Index Fresh Inc. - Overview
              • Exhibit 109: Index Fresh Inc. - Product / Service
              • Exhibit 110: Index Fresh Inc. - Key offerings
            • 10.8 McDaniel Fruit Co.
              • Exhibit 111: McDaniel Fruit Co. - Overview
              • Exhibit 112: McDaniel Fruit Co. - Product / Service
              • Exhibit 113: McDaniel Fruit Co. - Key offerings
            • 10.9 Melissas World Variety Produce Inc.
              • Exhibit 114: Melissas World Variety Produce Inc. - Overview
              • Exhibit 115: Melissas World Variety Produce Inc. - Product / Service
              • Exhibit 116: Melissas World Variety Produce Inc. - Key offerings
            • 10.10 Natures Touch Frozen Foods Inc.
              • Exhibit 117: Natures Touch Frozen Foods Inc. - Overview
              • Exhibit 118: Natures Touch Frozen Foods Inc. - Product / Service
              • Exhibit 119: Natures Touch Frozen Foods Inc. - Key offerings
            • 10.11 West Pak Avocado Inc.
              • Exhibit 120: West Pak Avocado Inc. - Overview
              • Exhibit 121: West Pak Avocado Inc. - Product / Service
              • Exhibit 122: West Pak Avocado Inc. - Key offerings
            • 10.12 Westfalia Fruit Pty Ltd.
              • Exhibit 123: Westfalia Fruit Pty Ltd. - Overview
              • Exhibit 124: Westfalia Fruit Pty Ltd. - Product / Service
              • Exhibit 125: Westfalia Fruit Pty Ltd. - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 126: Inclusions checklist
                • Exhibit 127: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 128: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 129: Research methodology
                • Exhibit 130: Validation techniques employed for market sizing
                • Exhibit 131: Information sources
              • 11.5 List of abbreviations
                • Exhibit 132: List of abbreviations
              • impact: The COVID-19 pandemic had a significant impact on the agricultural products market. The COVID-19 pandemic resulted in restrictions on the movement of workers who work in agricultural fields, changes in consumer demand, temporary closure of food production facilities, restricted trade in agricultural food products, and financial pressure on the overall agricultural products supply chain. Also, with a collapse in demand from restaurants, hotels, catering services, and the closure of open markets, the demand for agricultural products declined in 2020. However, as agricultural products are a basic necessity, the level of demand for agricultural products has been less affected by the COVID-19 pandemic when compared with other goods. The agricultural products market is expected to recover in 2021 and will grow at a moderate pace during the forecast period. The major reasons for the recovery of the agricultural products market are the relaxation of lockdown norms, the gradually reopening of the market in several countries, keeping social distancing norms in place, and the economic stimulus package announced by the governments of various countries.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                market growth will increase by $ during .
                The market is expected to grow at a CAGR of % during .
                Technavio has segmented the market by
                are a few of the key vendors in the market.
                will register the highest growth rate of % among the other regions. Therefore, the market in is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the market growth are:
                The market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
                • What are the key global market and the regional market share?
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                • What are the latest trends influencing the growth of this market?
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                • What are the factors influencing the growth of the parent market?
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