US-based Calavo Growers believes that the fundamental consumption trends for its products, including avocados, continue to be favorable.
First, U.S. avocado demand continues to grow, with per capita consumption in 2021/2022 according to the USDA reaching 8.4 pounds per person, and approximately 65% higher than the estimate from a decade ago.
Calavo Growers believes that the healthy eating trend that has been developing in the U.S. is contributing to that growth, as avocados contain no cholesterol or sodium, are dense in fiber, vitamin B6, antioxidants, potassium, folate and contain unsaturated fats, which help lower cholesterol.
Results of Calavo Growers
In addition, a growing number of research studies seem to suggest that phytonutrients, in which avocados are rich, help fight chronic diseases, such as heart disease and cancer.
Calavo Growers
The company also projects that demographic changes in the United States will have an impact on the consumption of avocados and avocado products.
Currently, the Hispanic community represents approximately 20% of the U.S. population and it is estimated that the total number of Hispanics will double by 2050.
Avocados are considered a staple for Hispanic consumers, as per capita avocado consumption in Mexico is significantly higher than in the United States.
Calavo Growers anticipates that avocado products will further penetrate the U.S. market, driven by the year-round availability of imported fresh avocados, the rapid growth of the Hispanic population and the promotion of avocado health benefits.
As one of the largest marketers of avocado products in the United States, the company believes it is well positioned to take advantage of this trend and grow its avocado and guacamole products business.
In addition, it also believes that avocados and avocado-based products will further penetrate other markets in which we currently operate as interest in avocados continues to grow.
As of October 31, 2022, the company had 3,266 employees, of which 1,464 worked in the United States and 1,802 in Mexico.
It does not have a significant number of employees in the United States covered by a collective bargaining agreement.
Approximately 1,600 of Calavo’s Mexican employees are represented by a union.
