Dragon Fruit Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation

Dragon Fruit Market Overview:

Several elements, including as environmental dangers, bio stress, and governmental legislation, have a significant impact on dragon fruit market. Stem rot, anthracnose, mealybugs, aphids, and other pests and diseases that harm dragon fruits are among the most common. Unfavorable environmental circumstances, such as persistently low temperatures, have a negative impact on dragon fruit market growth.

 

The dragon fruit is native to Chinese culture. It is ingested uncooked and has healing and nourishing properties. It has high fiber and antioxidants, both of which help to reduce the risk of cancer. It's commonly available in raw and powdered form, and it's also used to make healthy foods and beverages. Vietnam is the biggest producer of dragon fruit among all producers.

 

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Covid-19 Impact:

The COVID-19 pandemic has had a substantial influence on the global dragon fruit market, apart from the serious implications for people's health and healthcare systems. In terms of demand, poor demand was found in supermarkets, where consumers are primarily interested in healthy products with higher shelf life, and so demand for fruits remained low in many Asian nations, such as China. Furthermore, because restaurants were closed during the COVID-19 outbreak, demand for dragon fruit plummeted dramatically. Fearing unmarketable conditions, intermediaries restricted their buying volume in production zones. In many nations, this worsened the demand-supply disparity.

 

Dragon Fruit Market Dynamics:

Dragon fruit is grown in Central America and is commercially produced in Vietnam, Malaysia, Thailand, Taiwan, Sri Lanka, China, and Israel. 70 % of the overall dragon fruit produced in Vietnam is consumed by Chinese people. Vietnam's Ministry of Industry and Trade states that, 80 percent of the country's dragon fruits are exported to China, while 99 % of dragon fruits sold in China are shipped from Vietnam. The Vietnamese dragon fruits are in high demand due to its large production and economic value. It's known to be a high-value crop, and the Vietnamese fruit sector enjoys a competitive advantage.

 

Dragon fruit is an adequate source of iron, magnesium, vitamin B, phosphorus, protein, calcium, and fiber, and has a high-water content. The edible seeds of the fruit are also healthy, as they are high in polyunsaturated fats such as omega-3 and omega-6 fatty acids, which have been shown to reduce the risk of cardiovascular disease. Dragon fruit is a low-calorie fruit with a high fiber content and a variety of vitamins and minerals.

 

The demand for dragon fruit is expanding as a result of the aforementioned benefits, as well as a changing food pattern among the Chinese people, resulting in an increase in imports. It is said that the dragon fruit was produced thousands of years ago during a battle between two dragons. They believe in the good fortune offered by the dragon fruit's name, form, and colors since the dragon is said to have blown a burst of fire carrying the fruit. This is one of the elements propelling the dragon fruit market in China.

 

The addition of new goods with improved characteristics to the dragon fruit ingredient product portfolio is significantly increasing demand. To expand their global footprint, key market players are focusing on brand loyalty. Consumers are gravitating toward nutritional items, and businesses are seeing this as a feasible way to increase their customer base. Manufacturers of dragon fruits are employing aggressive methods and investing in the innovation of packaging and labelling for newly produced dragon fruits. Advanced technologies are being used by producers to extend the shelf life of their products and prevent them from spoiling. Surtec Agri, for example, is improving the shelf life of perishable goods by analyzing the rate of respiration of fruits and vegetables and adjust packaging according to this. This would eventually improve quality too.

 

Dragon fruits have become more popular as salad toppings, dessert toppings, and beverages. As a result, the use of dragon fruit in the food business is on the rise. Dragon fruit demand has also been fueled by growing applications of the fruit in jams, sauces, pastry, and confectionary.

 

Dragon Fruit Market Segment Analysis:

By Type, Dragon Fruit Market is segmented into Hylocereus undatus, Hylocereus costaricensis and Hylocereus megalanthus.

 

 

By Application, Dragon Fruit Market is segmented into Direct Consumption, Jams, Sauce, Ice cream, Salad and Others.

Dragon Fruit Market Regional Insights:

According to regional analysis, Asia-Pacific dominates the market. The main producers of dragon fruit in Asia Pacific are Vietnam, China, and Indonesia. Vietnam alone produced more than 50.0 % of the world's dragon fruit, with the majority of the fruit destined for export instead of domestic consumption. It's known to be a high-value crop, and the Vietnamese fruit sector enjoys an advantage in the marketplace.

 

In 2019, the overall sector under dragon fruit production in Vietnam was around 55,000.0 hectares, with the white flesh variety accounting for more than 95% of production and the red flesh type accounting for 4.5 %. Dragon fruit is mostly farmed in the provinces of Binh Thuan, Long An, and Tien Giang, with over 48,000.0 acres dedicated to its production each year. However, dragon fruit cultivation in Vietnam has recently faced a number of challenges, including the influence of climate change and the emergence of disease.

 

In Asia, Vietnam is the largest provider to the Chinese market, while nations such as Taiwan, Thailand, and Malaysia have become increasingly competitive in markets such as ASEAN and Hong Kong. In addition, Asia is not only the largest producer of dragon fruit, but also the largest consumer of the fruit, particularly among the Chinese. China is the world's largest consumer of dragon fruit, as well as the largest in Asia.

 

Vietnam and the European Union have concluded a free trade agreement called as the European Union-Vietnam Free Trade Agreement (EVFTA). This deal allowed Vietnamese imports to essentially trade tariff-free, allowing them to keep a lid on the price of red skin red pulp dragon fruit throughout the region. As a result, it is expected that exports of red skin red pulp dragon fruits from Vietnam to the European Union will expand at a quicker rate throughout the forecast period. ?

 

The report aims to provide industry stakeholders with a comprehensive analysis of the Dragon Fruit market. The report includes the most dominant trends in the Dragon Fruit market and how these trends affect new business investment and market development during the forecast period. The report also helps to understand the dynamics of the Dragon Fruit market and the competitive structure of the market by examining market leaders, market followers, and regional players.

 

Qualitative and quantitative data provided in the Dragon Fruit Market Report will drive market-influencing factors and industry and market growth, which market segments and regions are expected to grow at a faster rate. The forecast period is designed to help you understand the critical areas of opportunity to do. The report also includes the competitive landscape of key industry players, as well as recent developments in the Dragon Fruit market. The report looks at factors such as company size, market share, market growth, sales, production, and profits of key players in the Dragon Fruit market.

 

The document affords Porter's Five Force Model, which facilitates designing the enterprise techniques withinside the marketplace. The Report facilitates in figuring out what number of competitors are existing, who they are, and the way their product exceptional is withinside the Global Dragon Fruit marketplace. The Report additionally analyses if the Global Dragon Fruit marketplace is straightforward for a brand-new participant to benefit a foothold withinside the marketplace, do they input or go out the marketplace often if the marketplace is ruled via way of means of some Players, etc.

 

The document additionally consists of a PESTEL Analysis, which aids withinside the improvement of enterprise techniques. Political variables assist in identifying how an awful lot a central authority can have an impact on the Global Dragon Fruit marketplace. Economic variables useful resource withinside the evaluation of monetary overall performance drivers which have an effect at the Global Dragon Fruit marketplace. Understanding the effect of the encircling surroundings and the have an impact on of environmental issues at the Global Dragon Fruit marketplace is aided via way of means of felony factors.

 

Dragon Fruit Market Scope:

 

Dragon Fruit Market Scope
Market Size in 2023	USD 14.73 Bn.
Market Size in 2030	USD 19.25 Bn.
CAGR (2024-2030)	3.90%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Hylocereus undatus Hylocereus costaricensis Hylocereus megalanthus
	By Application Direct Consumption Jams Sauce Ice cream Salad Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Dragon Fruit Market Key Players:

• Pitaya Plus (U.S.)
• Welch Foods Inc. (U.S.)
• Nam Viet Foods & Beverage Co., Ltd. (Vietnam)
• Biourah Herbal (Malaysia)
• Great Sun Pitaya Farm Sdn. Bhd. (Malaysia)
• Bai Brands (Dr Pepper Snapple Group, Inc.) (U.S.)
• Raw Nice (Delhi)
• Hybrid Herbs (U.K.)
• Light Cellar (Canada)
• Wilderness Poets (U.S.)
• Unicorn Superfoods (Australia)