The import of avocados to the US has shown a steady increase over the last decade, rising from $1.1418 billion in 2013 to $3.2138 billion in 2023. The year-on-year growth exhibited significant variations, with notable peaks in 2014 (40.39%) and 2017 (36.88%) and a decline in 2018 (-10.25%). For the last two years, the year-on-year growth rate has moderated to 4.62% in 2022 and 4.32% in 2023. The 5-year CAGR leading up to 2023 was 5.59%, indicating solid yet slowing growth.
Looking forward, the forecast data shows the import value steadily climbing to $3.8409 billion by 2028. The projected 5-year CAGR from 2024 to 2028 stands at 2.81%, reflecting a more gradual growth trajectory compared to the previous decade. Over the next five years, the cumulative growth is expected to be 14.85%.
Future trends to watch for include potential changes in trade policies, the impact of climate change on avocado production, shifts in consumer preferences towards sustainable and locally sourced produce, and economic factors that could influence import volumes. Additionally, the development of new markets and innovations in agricultural practices may play significant roles in shaping the avocado import landscape.
