The fruit, a small, round, black-purple drupe about 1 inch (25 mm) in diameter, similar in appearance and size to a grape but with less pulp, is produced in branched panicles of 700 to 900 fruits. Two crops of fruit are produced each year. The fruit has a single large seed about 0.25–0.40 inches (7–10 mm) in diameter. The exocarp of the ripe fruits is a deep purple color, or green, depending on the kind of açaí and its maturity. The mesocarp is pulpy and thin, with a consistent thickness of 1 mm or less. It surrounds the voluminous and hard endocarp, which contains a seed with a diminutive embryo and abundant endosperm. The seed makes up about 80% of the fruit (Schauss, 2006c).

The berries are harvested as food. In a study of three traditional Caboclo populations in the Amazon region of Brazil, açaí palm was described as the most important plant species because the fruit makes up such a major component of diet (up to 42% of the total food intake by weight) and is economically valuable in the region.

The juice and pulp of açaí fruits (Euterpe oleracea) are used in various juice blends, smoothies, sodas, and other beverages. In northern Brazil, açaí is traditionally served in gourds called "cuias" with tapioca and, depending on the local preference, can be consumed either salty or sweet (sugar, rapadura, and honey are known to be used in the mix). Açaí has become popular in southern Brazil where it is consumed cold as açaí na tigela ("açaí in the bowl"), mostly mixed with granola. Açaí is also widely consumed in Brazil as an ice cream flavor or juice. The juice has also been used in a flavored liqueur.

Recently, the açaí "berry" has been touted and marketed as a dietary supplement. Companies sell açaí berry products in the form of tablets, juice, smoothies, instant drink powders, and whole fruit.