The latest Hass Avocado Market Global Industry Overview and Forecast report for 2022-27 shows the industry's total revenue is expected to grow by a little over 5% in five years.

The increase in revenue is attributed to a growing number of health-conscious consumers and a rising middle-class population becoming aware of the value of healthy foods and their health benefits.

The report examines the market's growth drivers and segments. Data is provided by Hass avocado market participants across North America, APAC, Europe, MEA, and South America.

Hass avocado is one of the most in-demand varieties in the world. According to the United States Department of Agriculture, per capita Hass avocado consumption in the U.S. has tripled since the early 2000s. The U.S. demand for avocados has grown steadily over the past two decades.

According to the Hass Avocado Board (HAB), sales volume for Easter, Cinco De Mayo, and Memorial Day numbered 133 million units and nearly $160 million in retail sales.

These dates are especially important for the industry since the fruit is an essential ingredient in many dishes served during these celebrations.

The world's largest producers of this variety are Mexico, Peru, Chile, California, and Colombia. According to the report, "Mexico accounted for 30% of avocado production, the largest share in the world," and the country's investment area grows at a rate of 3% annually.

The Hass avocado variety makes up 97% of Mexico's total avocado production. The Michoacán region accounts for 75% of the national output and 81% of the total production. Colombia and the Dominican Republic are also significant producers of Hass avocados.

North America is forecasted to rule the Hass avocado market due to it's large output and consumption of the variety. According to the release, the United States plays an important role since the country is "driven by increased exposure to healthy food consumption," combined with a growing global workforce and higher wages. 

Europe is also expected to show significant growth thanks to an increase in younger generations. The UK, France, Germany, and Italy are performing well in the Hass avocado market due to the fruit's health benefits.

The Global Avocado Summit, organized by the Chilean Avocado Committee and the Yentzen Group, will be held on November 21 at the Casino Monticello event center in Chile.