Dragon Fruit Market
Industry: Food and Beverages
Published Date: September-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 332
Report ID: PMRREP33542
The global dragon fruit market is forecasted to increase from a value of US$ 507.3 million in 2023 to US$ 973.6 million by the end of 2033, at a CAGR of 6.7%, according to a report by skilled analysts at Persistence Market Research. Dragon fruit thrives in warm and humid climates. Being evergreen and consistently available, tropical fruits maintain a stable presence throughout the entire year.
Dragon fruit's popularity arises from its rich nutrient content, which helps mitigate chronic ailments such as cancer and asthma, regulates blood sugar levels, and offers various benefits for skin and hair health. This is attributed to its abundant reservoir of fiber, vitamins, and antioxidants. In today's health-conscious society, individuals predominantly opt for nutritious diets and ingredients that align with their well-being.
Dragon fruit plays a multifaceted role in the food and beverage industry, contributing favorably to market expansion. This enables producers to create an array of tropical food products to meet varied consumer preferences.
| Attribute | Details |
|---|---|
| Dragon Fruit Market Size (2023E) | US$ 507.3 Million |
| Projected Market Value (2033F) | US$ 973.6 Million |
| Global Market Growth Rate (2023 to 2033) | 6.7% CAGR |
| Historical Market Growth Rate (2018 to 2022) | 5% CAGR |
| Revenue Share of Top Four Countries (2022E) | 41.7% |
“Increasing Consumption of Dragon Fruit by Health-conscious Consumers”
The popularity of dragon fruit is on the rise due to increasing health consciousness across the globe. Its rich vitamin and antioxidant content make it particularly appealing in the health industry, contributing to market growth. Consumption of dragon fruit may enhance health and potentially lower the risk of chronic conditions like diabetes, heart disease, cancer, and arthritis.
Research indicates dragon fruit helps address health issues such as fatty liver and insulin resistance if included in one’s daily diet. The significant prebiotic properties of this fruit support intestinal health and have been linked to alleviating symptoms of inflammatory bowel disease (IBD).
Dragon fruit is an ideal healthy, nutrient-dense option for consumers with potential benefits. Its impressive nutritional profile is a major factor driving its popularity, alongside its distinct and vibrant appearance. The captivating pink and white flesh, adorned with black seeds, has captured the attention of the younger generation, thus bolstering its demand. Additionally, the fruit's appeal has been enhanced by endorsements from food enthusiasts concerned about the nutritional value of their diets. The fruit's traction as a trending topic for health and wellness on social media is crucial for the industry's success.
“Growing Government Support for Dragon Fruit Imports”
Growing demand for dragon fruit is driven by its high water content and impressive nutritional profile, which includes iron, vitamin B, magnesium, protein, calcium, phosphorus, and fiber, and evolving dietary preferences among Chinese consumers. China predominantly imports dragon fruit from Vietnam, where a substantial portion of the country's produce is sent to China.
The General Administration of Customs in China has approved the import of various fresh dragon fruit varieties from Indonesia. These encompass purple-fleshed, red-fleshed, and white-fleshed dragon fruits. This development serves as a notable factor influencing China's dragon fruit industry.
“Improvements in Dragon Fruit Supply Chain Driven by High Demand for Exotic Fruits”
Increasing sales of dragon fruit can be attributed to several factors, including the rising consumer demand for exotic and nutritious fruits, improvements in logistics and transportation, and strategic efforts by international fruit exporters to enter new markets. With its unique appearance, refreshing flavors, and several health benefits, dragon fruit has become a highly sought-after commodity. Consequently, it has achieved widespread distribution and availability in international markets. As consumers seek diverse and wholesome alternatives, integration of dragon fruit into global fruit trading networks is expected to continue strengthening.
“Strong Demand for Dragon Fruit Peels in Animal Feed Industry”
The peel of the dragon fruit is a rich source of vitamins, fiber, and antioxidants that contribute positively to animal health. Additionally, incorporating dragon fruit peel into animal diets could potentially mitigate methane emissions, a significant driver of climate change. Utilizing dragon fruit peel as a dietary supplement offers benefits such as enhanced digestion, improved animal well-being, and reduced environmental repercussions.
Beyond repurposing the peel, which is presently discarded, the integration of dragon fruit into animal feed has the potential to open up new market opportunities. This strategic utilization of dragon fruit peel is expected to amplify the demand for the fruit itself. Furthermore, this approach could raise awareness about the multifaceted benefits of dragon fruit and drive market growth.
“Limited Global Availability of Dragon Fruit Due to Specific Climatic Requirements”
Dragon fruit, a tropical fruit native to Mexico, Canada, and South and Central America, faces the issue of limited global availability since its production is restricted to a particular region. Moreover, dragon fruit has specific climatic requirements, including abundant sunlight and high temperatures for optimal growth. However, these temperature conditions can be detrimental, making the fruit more susceptible to softness and fragility, and limiting its shelf life due to soil conditions.
Fruits like bananas, apples, pineapples, oranges, grapes, and watermelons enjoy higher popularity and consumption than dragon fruit. Despite several challenges associated with dragon fruit production, there is a growing demand for dragon fruit worldwide. The availability of this unique fruit is anticipated to expand as consumer awareness continues to rise.
How is the Dragon Fruit Market Shaping Up in the United Kingdom?
“High Demand for Food and Beverage Products with Organic & Natural Ingredients”
The dragon fruit market in the United Kingdom is valued at US$ 33.2 million in 2023. Demand for dragon fruit from the organic and natural ingredients industry is anticipated to increase at 8.3% CAGR during the forecast period. This is because manufacturers in the United Kingdom have begun using dragon fruit as a significant ingredient in a variety of food & beverage products such as jam, sauce, carbonated drinks, and juices, as demand for organic and natural ingredients is growing in the country.
What are the Demand Projections for Dragon Fruit in China?
“Increasing Utilization of Dragon Fruit in Bakery Products”
Demand for dragon fruit in China is anticipated to advance at a CAGR of 6.8% through 2033. Rapid increase in demand is the result of dragon fruit being used more frequently nationwide in food and beverage products such as fruit juices, carbonated beverages, sports drinks, and others. Therefore, the rising demand for dragon fruit and the associated flavors in the formulation of bakery & confectionery products, frozen desserts, and beverage products is expected to drive market growth in China.
Which Form of Dragon Fruit Accounts for Higher Sales?
“High Sales of Dragon Fruit Powder Driven by Need for Cost-effective Alternatives”
Sales of dragon fruit powder are valued at US$ 339.3 million in 2023 and are anticipated to rise at 6.6% CAGR through 2033. Prices of dragon fruit in the global market are on the rise due to the labor-intensive farming process and limited production in certain regions. Manufacturers are striving to stabilize the elevated cost of organic dragon fruit by incorporating synthetic dragon fruit powder and extracts to create more budget-friendly products.
Which Sector Extensively Utilizes Dragon Fruit?
“Utilization of Dragon Fruit in Food and Beverage Industry Increasing Significantly”
The food and beverage segment is predicted to expand at a CAGR of 6.9% from 2023 to 2033 in this market. Rising incorporation of dragon fruit in beverages, protein shakes, soft drinks, flavored jams, biscuits, and other items is driving market expansion.
The dragon fruit market, in 2023, comprises 46% to 50% of multinational companies with a global presence, including leaders such as Welch's, Bai Brands, Huang Huy, and Hung Phat Fruits. These major producers are focusing on adapting their product offerings to cater to diverse sectors, such as food, cosmetics, personal care, and other industries, due to dragon fruit's versatility. Regional enterprises account for 50% to 56% of the market share, while local players hold a share ranging from 21% to 24% in 2023.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | US$ Million for Value |
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| Key Market Segments Covered |
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| Key Companies Profiled |
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| Customization & Pricing | Available upon request |
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The global dragon fruit market expanded at a CAGR of 5% from 2018 to 2022.
Worldwide sales of dragon fruit are valued at US$ 507.3 million in 2023.
Europe occupies 35.8% of the global market for dragon fruit in 2023.
Global demand for dragon fruit is anticipated to reach a market value of US$ 973.6 million by 2033.
Worldwide sales of dragon fruit are forecasted to increase at a CAGR of 6.7% from 2023 to 2033.
The United States market is valued at US$ 104.6 million in 2023 and is set to expand at 7.3% CAGR through 2033.
Rising demand for organic dragon fruit and increasing adoption of healthy lifestyles are driving market growth.
Givaudan SA, Symrise AG, McCormick & Company, Inc., and Dragon Fruit Farm collectively account for a market share of 20% to 25%.
The top 3 demand countries for dragon fruit are the U.S., India, and China.
The market in China is forecasted to reach US$ 96.7 million by 2033, while that in India is expected to reach US$ 35.8 million.
