A recent report has emerged from the Organization for Economic Cooperation and Development, or OECD, and the Food and Agriculture Organization of the United Nations, or FAO. This report is called the Agricultural Outlook 2021-2030 report. According to the study, avocados will be the best-selling fruit in the world by 2030. In 2030, the production of avocados is projected to reach 12 Metric tons. This means that in the next decade avocados will be the most commercialized tropical fruit on the planet.
Avocados already have high unit prices. By 2030, the value of world avocado exports could reach as high as 8.3 billion dollars; in the next decade, avocados will be one of the most valuable fruits in the global market.
What’s Driving Avocado To Be Best-Selling Fruit?
Broad worldwide demand for avocados and lucrative export prices are the main drivers behind the superfruit becoming the best-selling fruit. Many producers are investing considerable sums into expanding production in major avocado-producing countries. Even in countries just emerging into the market of avocado production, investors are looking to increase output.
So far, to date, avocado production has been concentrated in a small number of regions in an even smaller number of countries; 10 countries currently account for about 80% of all avocado production worldwide. While many countries might consider entering the market, the 2030 prediction shows the avocado’s homeland, Latin America and the Caribbean, accounting for over 70% of production in the future. These regions are simply the most favorable in which to grow everyone’s favorite superfruit.
Avocado Homeland: Best-Selling Fruit in Mexico
Scientists have traced the origin of the avocado to Mexico, and production there is expected to rise over 5% each year in the next decade. This rise is especially due to the continuous rise in demand for this fruit in the United States. This means that despite growing competition from other countries, Mexico will continue to dominate production due to its proximity to the U.S market. In 2030, researchers estimate Mexico will account for 63% of world exports.
Where Will the Best-Selling Fruit Go?
With all these countries ramping up avocado production in the next years, where will all these avocados go? Not as many places as you think. The United States is set to make up 40% of the world’s imports and the European Union will account for around 31%; these two areas will account for over 70% of the world’s avocado consumption. Over the next decade, we expect to see an increase in consumption in other countries like China and those in the Middle East as well.