U.S. On Track to Consume More Avocados in 2020 Than Ever Before, Mission Produce Reports
December 17 2020 - 4:45PM
Avocado consumption data from Mission Produce, Inc. (NASDAQ:AVO)
(“Mission”), the world leader in sourcing, producing, and
distributing fresh avocados, shows that this year is set to be a
banner year for the fruit, with the U.S. consuming more avocados in
2020 than ever before. The U.S. is on track to consume 6.25 billion
avocados this year, up from just 3.81 billion in 2014, according to
shopper data, showing that avocados have become a staple in the
U.S. diet and are no longer a luxury fruit. In fiscal 2019, Mission
distributed 559 million pounds of avocados, which is 58% more than
the closest competitor in terms of volume.
Breaking that 6.25 billion number down, the average person in
the U.S. will consume about 8.5 pounds of avocados in 2020, up from
only seven pounds in 2014. Additionally, the data estimates that
71% of U.S. households will have purchased avocados in 2020, with
the average household spending around $34 on avocados per year, up
from $22 in 2014. The data also shows that purchase frequency has
increased steadily, with the U.S. consumer buying avocados at an
average of 11 times per year, up from eight in 2014.
“Since we introduced ready-to-eat, ripe avocados to the market,
we’ve seen a significant and steady upswing in the popularity of
avocados in the U.S.,” said Mission CEO and President Steve
Barnard. “Ripe avocados mean Americans can enjoy them right away.
Plus, avocados are nutrient-dense, versatile, and delicious, and as
soon as Americans – millennials in particular – started noticing
that, the fruit really took off.”
This overall growth is driven by multiple factors, including a
continued increase of avocado supply in the market, versatility and
industry marketing and promotion. Mission Produce has driven
category growth through value-added programs tailored to consumer
needs: ‘Minis,’ Small, but Mighty; ‘Emeralds in the Rough;’
‘Jumbos,’ More to eat, More to love; ‘Ready;’ and ‘Size Minded.’
Nutrition is also a factor driving growth. According to a 2019
Mintel survey, over 60% of millennials believe their generation is
more focused on health than any other generation, favoring less
processed foods with fewer artificial ingredients.
“We’ve seen that as restaurants are closed during the pandemic
and everyone is staying home, people are looking for nutritious
ingredients that they can get creative with to please the whole
household,” added Barnard. “Since avocados fit that need, they’ve
become even more of a staple to a large percent of the
population.”
About Mission Produce, Inc.: Mission Produce is
the world’s most advanced avocado network. For more than 35 years,
Mission Produce has been recognized as the leader in the worldwide
avocado business, sourcing, producing and distributing fresh
avocados, servicing retail, wholesale and foodservice customers in
over 25 countries. The vertically integrated Company owns and
operates four state-of-the-art avocado packing facilities in key
growing locations globally including California, Mexico & Peru
and has additional sourcing capabilities in Chile, Colombia,
Dominican Republic, Guatemala, New Zealand, & South Africa.
Mission’s global distribution network includes eleven forward
distribution centers in North America, China & Europe that
offer value-added services such as ripening, bagging, custom
packing and logistical management. In addition, Mission owns over
11,000 acres globally, allowing for diversified sourcing and access
to complementary growing seasons, while ensuring its customers
receive the highest quality fruit possible. Mission is the
largest global supplier of the World’s Finest Avocados, for more
information please visit worldsfinestavocados.com.
ContactDenise JunqueiroSenior Director of
Marketing and CommunicationsMission Produce,
Inc.press@missionproduce.com
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