Dragon Fruit Market Set to Grow at 6.9% CAGR, Aiming for US$ 1.02 Billion by 2034: Fact.MR Study
FACT.MR
5 min read
FACT.MR
Puree Form of Dragon Fruit to Account for Around Three-fourths Market Share
Rockville, Feb. 27, 2024 (GLOBE NEWSWIRE) -- According to a new study by Fact.MR, a market research and competitive intelligence provider, the global Dragon Fruit Market is estimated to account for a valuation of US$ 526 million in 2024. Worldwide demand for dragon fruit is projected to increase at a CAGR of 6.9% through 2034.
Dragon fruit plays a key role in the food and beverage industry, positively contributing to market expansion. It empowers producers to develop a diverse range of tropical food products that cater to varied consumer preferences. Increasing interest in exotic tropical fruits driven by their health benefits and growing disposable income of consumers, particularly in developing countries, are contributing to this trend.
Key Segments of Dragon Fruit Market Research Report
By Form
By Nature
By End Use
By Region
Powder
Puree
Organic
Conventional
Food & Beverages
Foodservices
Retail/Household
North America
Latin America
Europe
East Asia
South Asia & Oceania
Middle East & Africa (MEA)
While still in its early stages and with relatively minimal promotion across European markets, consumption of dragon fruit is rapidly gaining traction in countries such as Spain and Italy. The unique appeal of dragon fruit has piqued the interest of European consumers, with a notable surge in demand being observed. This burgeoning interest not only showcases the untapped potential of the European dragon fruit market but also hints at the prospect of it becoming a staple in the region.
Key Takeaways from Market Study
The global dragon fruit market is projected to expand at a CAGR of 6.9% through 2034.
Global sales of dragon fruit are estimated at US$ 526.3 million in 2024.
The market is forecasted to reach US$ 1.02 billion by 2034-end.
The North American market is anticipated to expand at a CAGR of 5.9% through 2034.
The puree form of dragon fruit is projected to account for 75.36% market share in 2024.
East Asia is forecasted to account for 25.6% of the global market share by 2034.
“More consumers are gravitating toward nutritional food items, which are benefitting the dragon fruit market, and businesses are seeing this as a feasible way to increase their customer base,” Says a Fact.MR analyst.
Market Developments
Leading companies operating in the market are Pitaya Plus, The Green Labs LLC, Song Nam Itd Co. LTD, Yanalla Farms Pty Ltd., and Steaz.
Pitaya Plus leads the way with its high-quality dragon fruit products, emphasizing innovation and sustainability.
The Green Labs LLC plays a significant role by sourcing premium dragon fruit ingredients and ensuring supply chain efficiency.
The Rise of Dragon Fruit Puree in Food and Beverage Innovation
In recent years, the consumption of dragon fruit puree has surged significantly, propelled by growing consumer awareness of its health benefits and its versatile applications across various food and beverage products. Derived from the vibrant pink or white flesh of the fruit, dragon fruit puree has garnered popularity among health-conscious consumers seeking natural and nutritious alternatives.
Its versatility extends to a wide range of products, including smoothies, juices, jams, desserts, and alcoholic beverages, contributing to the expansion of this market segment. Moreover, the demand for exotic and visually appealing ingredients in the food industry has further fueled the market for dragon fruit extract and puree.
As global culinary preferences continue to diversify, the sales of dragon fruit puree are expected to maintain their upward trajectory, providing a flavorful and nutritious option for innovative food and beverage creations.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global dragon fruit market for 2018 to 2023 and forecast market statistics for 2024 to 2034.
The study divulges essential insights into the market based on form (powder, puree), nature (organic, conventional), end use (food & beverages, foodservice, retail/household), and distribution channel (business to business, business to consumers), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Checkout More Related Studies Published by Fact.MR Research:
Packaged Fresh Fruits Market: Fact.MR, a market research and competitive intelligence provider, asserts through its newly published analysis that East Asia is projected to hold 25.6% of the global dragon fruit market share in 2034.
Canned Fruits Market: The value of the global canned fruits market is US$ 9.8 billion in 2022, which is projected to climb to US$ 12 billion by 2032-end, increasing at a CAGR of 2% through 2032.
Gold Kiwifruit Market: Newly-released Gold Kiwifruit Market analysis report by Fact.MR reveals that global sales in 2022 were held at US$ 1.5 Billion. With 9.8% projected growth from 2023 to 2033.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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