Global Dragon Fruit Market Research Report: Forecast (2022-2027)
Market Definition
A dragon fruit tree is a fruit exhibiting numerous health benefits and is popularly used in various dishes across the food & beverages industry. Here, the fruit is extensively used as a flavoring agent in drinks, smoothies, fruit bars, pastries, jellies, juices, alcoholic beverages, & sorbet, among others, and is a prominent source of nutrients like protein, fiber, iron, & antioxidants. The pulp of the dragon fruit composes of antioxidants and Vitamins B & C, carotene, Polyunsaturated (good) fatty acids, proteins, & minerals.
The seeds of this fruit are also nutritious and exhibit high content of polyunsaturated fats like omega-3 & omega-6 fatty acids, which helps in minimizing the overall formation of triglycerides. Principally, the fruit offers numerous medicinal values and is linked to numerous health benefits like improving metabolism, boosting the immune system, strengthening bones & teeth, blood purification, assisting tissue formation, healing bruises & wounds, and others.
Moreover, the consumption of dragon fruit is also believed to show reduced cholesterol concentration, balance in blood sugar, prevention of colon cancer, & facilitation of harmonious kidney & brain function. Hence, the consumption of dragon fruit is growing swiftly throughout the world and stimulating the industry.
Market Insights
The Global Dragon Fruit Market is projected to grow at a CAGR of around 4.1% during the forecast period, i.e., 2022-27. The market is driven by the growing health consciousness among people & their swift inclination toward eating healthy food like fruits & vegetables, including dragon fruit, owing to its expansive effects on health. In addition, as people are becoming more aware of the medicinal effects of dragon fruits, their demand & sales are upsurging rapidly & positively influencing the market. It, in turn, is also instigating the leading players to increase their production & distribution capacities to cater to the burgeoning demands worldwide.
Besides, as the affordability of the people to buy exotic fruits is increasing, the sales of these fruits are escalating too. In fact, rising tourism is also influencing the demand for dragon fruit and its utilization of diverse food & beverages, either for direct consumption, in jams, sauces, ice creams, salads, & or others like juice concentrates and more. Although some geographies find the demand for dragon fruit relatively low due to less advertisement & awareness about the benefits & awareness, it exhibits promising potential to attract a substantial consumer base in the coming years.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2017-20 |
| Base Year: 2021 | |
| Forecast Period: 2022-27 | |
| CAGR (2022-2027) | 4.1% |
| Regions Covered | North America: The US, Canada, Mexico, Rest of North America |
| South America: Brazil, Argentina, Columbia, Rest of South America | |
| Europe: Germany, France, Italy, The UK, Spain, The Netherlands, Rest of Europe | |
| Asia-Pacific: India, China, Japan, Australia, South Korea, New Zealand, Indonesia, Malaysia, Vietnam, Rest of Asia-Pacific | |
| Middle East & Africa: GCC, Egypt, Israel, South Africa, Rest of Middle East & Africa | |
| Key Companies Profiled | Biourah Herbal (M) Sdn Bhd, Bai Brands (Dr. Pepper Snapple Group, Inc.), Great Sun Pitaya, Farm Sdn. Bhd., Hybrid Herbs, Light Cellar, Wilderness Poets, Madam Sun Sdn.Bhd, Nam Viet Foods & Beverage JSC (VINUT), Pitaya Plus, Raw Nice, SOL Organica, Unicorn Superfoods, Welch Foods Inc., Others |
| Unit Denominations | USD Million/Billion |
Moreover, owing to the growing demand for these fruits, many countries are also expanding their trade chains & rigorously & exporting fruits throughout the world. It, in turn, is also playing a prominent role in catering to the mounting demand for dragon fruits and contributing substantially to the overall market growth during the forecast period.
Impact of Covid-19 on the Global Dragon Fruit Market
While the advent of the Covid-19 pandemic had significant effects on most industries worldwide, the Global Dragon Fruit Market was no exception and witnessed dual impacts of the global crisis. As the governments of different countries worldwide imposed stringent movement restrictions & lockdowns to curb the spread of this disease owing to its severity, people shifted their finances toward necessities only, which in turn, minimized the sales of dragon fruits.
Besides, since travel restrictions affected the supply chains across locations, the unavailability of fresh dragon fruits also brought challenges to the market expansion. Yet, on the other hand, as the pandemic situation gradually was coming under control, the governments partially uplifted the restrictions, allowing the recommencement of business operations while abiding by the social distancing & safety norms. It, in turn, reinstated the availability of dragon fruits across different sales channels.
Moreover, people were becoming more aware of the positive influence of dragon fruits on health improving metabolism, boosting the immune system, strengthening bones & teeth, blood purification, assisting tissue formation, healing bruises & wounds, and others. It, in turn, demonstrated an upswing in the demand for these fruits amidst the crisis, leading to a temporary hike in revenue generation for the leading players.
Furthermore, with the complete upliftment of limitations by the governments, the market is on the track to recovery and witnessing active participation of the prominent players, expanding their production & distribution capacities, leading the market toward substantial growth.
Market Segmentation
Based on the Type:
White Dragon Fruit (Hylocereus undatus) is anticipated to dominate the Global Dragon Fruit Market with the largest share during the forecast period. It owes principally to the easy availability of the white dragon fruits across different sales channels and their immense popularity in salads & beverages with a similar taste to that of a kiwi.
Besides, the versatile application of white dragon fruit in multiple dishes adds up to a greater inclination toward this type, contributing to the overall market growth. Moreover, increasing trade chains across regions for the utilization of these fruits in food & beverages & dietary supplements, alongside pharmaceutical applications, further adds to the high demand for white dragon fruits.
On the other hand, the demand for Red Dragon Fruit shall also witness an upsurge in the demand and contribute to the overall market growth during the forecast period. It owes principally to the attractive look of these fruits, demonstrating greater inclination of hotels, cafes, resorts, and other such facilities toward using these fruits in their menu for the growing tourist influx.
Besides, red dragon fruit exhibit higher content of antioxidants than white dragon fruits & is a great food for maintaining eyes, blood, and skin health. Hence, the demand for red dragon fruits is anticipated to accelerate and contribute to the overall market growth in the coming years.
Based on Distribution Channel:
Here, Offline channels like Supermarkets/Hypermarkets are anticipated to dominate the Global Dragon Fruits Market with the largest share during the forecast period. It owes principally to these stores being a Go-To place for shopping for fruits & vegetables among people, giving them a sense of selecting fresh fruits. Besides, the widespread establishment of such stores and the convenience of finding a variety of fruits, including dragon fruits, in one place is also attracting a substantial consumer base across the world.
Moreover, as supermarkets/hypermarkets are self-help stores where products are available in an organized manner across sections & shelves, more consumers are attracted to such sectors and explore an extensive variety of dragon fruit. Hence, the inclination toward these distribution channels to purchase dragon fruits is gaining popularity, instigating the leading players to increase their production & distribution capacities to cater to easy availability for consumers. Such aspects shall further lead the Global Dragon Fruit Market toward substantial growth in the coming years.
Regional Landscape
Geographically, the Global Dragon Fruit Market expands across:
Here, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. It owes principally to the tropical weather across different countries in the region, favoring the production of dragon fruits, especially in countries like Vietnam, China, and Indonesia, among others. Across the region, Vietnam is a dominant country contributing more than half to the overall market share across the region and has a vast export business for the same.
The dragon fruit is put under the category of the high-value crop and makes Vietnam a competitive benefitted country. Vietnam is also a prominent exporter of dragon fruit to China and has competition in business with countries like Taiwan, Thailand, & Malaysia, among others. Moreover, Vietnam signed a Free Trade Agreement with the European Union, called European Union-Vietnam Free Trade Agreement (EVFTA), which allows the country to export products easily.
China, on the other hand, is a prominent consumer of dragon fruits in the region. In fact, the demand for dragon fruit imported from Vietnam is substantial in China owing to the sizable production & high economic importance. Hence, the market is anticipated to expand swiftly in the coming years.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Dragon Fruit Market is projected to grow at a CAGR of around 4.1% during 2022-27.
A. Growing awareness among people about the medicinal effects of dragon fruits is fueling their demand & sales rapidly & positively influencing the Global Dragon Fruit Market growth.
A. Red Dragon Fruit (Hylocereus costaricensis) is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Dragon Fruit Market during the forecast period.
