Press Release Description

Increasing Population of Vegetarians and Vegans Driving the Global Jackfruit Market

The Global Jackfruit Market size is valued at about USD 260 million in 2023 and is anticipated to grow at a CAGR of about 3.6% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The Global Jackfruit Market has grown significantly as a result of several factors, including the rising demand for natural and functional foods, increased awareness of environmental sustainability, increased investment and government support, an increase in the number of vegans and vegetarians, growing health benefits, rising disposable income, and more.

The primary factor propelling the jackfruit industry is the rise in vegan and vegetarian populations. As more individuals adopt plant-based diets for a range of reasons, including ethical, environmental, and health-related ones, the market for plant-based protein sources rises. Jackfruit is a nutrient-dense fruit that provides essential vitamins, minerals, and dietary fiber. This perfectly aligns with the health-conscious mindset of many vegans and vegetarians searching for wholesome and sustainable food options.

The global jackfruit market is expected to grow due to several factors and opportunities, but some obstacles could hinder it, such as short shelf life, unawareness among consumers of jackfruit, issues with the supply chain, limited processing technology, competition from other meat alternatives, a lack of standardized regulations, etc. Fresh jackfruit has a short shelf life, so there may be significant waste if it is not sold or consumed right away. Resource waste during cultivation and transportation may occur, which could affect the environment and the economy. For the Global Jackfruit Market to continue growing steadily during the projected period, all parties engaged in the jackfruit value chain, including farmers, processors, distributors, retailers, and consumers, must collaborate to overcome these challenges., further states the research report, “Global Jackfruit Market Analysis, 2024”.

Global Jackfruit Market

Jackfruit Market Segmentation Analysis

Fresh Consumption Segment Holding Major Market Share

Based on the application, the market is further bifurcated into fresh consumption, beverages, confectioneries, and others. Because eating fresh jackfruit is engrained in local cuisine and culture in jackfruit-producing countries, the fresh consumption segment is presently leading the Global Jackfruit Market based on application. It is a well-known and preferred option since customers are used to its flavor, texture, and culinary uses. Moreover, fresh jackfruit can be used in a broad range of savory and sweet recipes due to its exceptional versatility. Its adaptability to different dietary requirements and palates makes it appealing to a wider spectrum of customers.

Even though the fresh consumption segment now dominates the market in terms of application, the beverages & confectioneries segment of the Global Jackfruit Market is growing swiftly and has the potential to have a significant impact on the market's future direction. With processed and fresh jackfruit products coexisting and satisfying a variety of consumer preferences, it is projected that the market would undergo a shift toward a more balanced pattern of consumption.

Asia-Pacific Region Leading the Market

In the Global Jackfruit Market, the Asia-Pacific area leads by a wide margin, and this trend is anticipated to continue for some time. The region's leading position in the jackfruit market is cemented by a confluence of variables, including its original origin, prominence as a producer, rising demand, and rapid economic growth.

Jackfruit demand is growing swiftly throughout the Asia-Pacific area as more people become aware of the fruit's various health benefits, including its high fiber content, vitamins, and minerals. Jackfruit may be able to meet the region's increasing need for quick and convenient food options due to its growing population and urbanization. Also, because of an increase in disposable income, customers in this area can now afford to spend more on exotic and nutrient-dense fruits like jackfruit. The Asia-Pacific region is leading the Global Jackfruit Market due to the reasons mentioned above, and it is anticipated that this region will continue to contribute to the growth of the market over the forecast period.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Artocarpus Foods Pvt. Ltd., Anna Food Products, The Jackfruit Company, Island Valley Delights, Mother Dairy Fruit & Vegetable Pvt. Ltd, Madam Sun, Frubites, Natureloc, Jackfruit365, Nutty Yogi, and Others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends that have shaped the industry to its current form?
  3. What key factors would propel and impede the industry across the globe?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition shaped across various provinces, followed by their comparative factorial indexing?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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