GLOBAL – In a recent study conducted by Fact.MR, a prominent provider of market research and competitive intelligence, the global Dragon Fruit Market is on a trajectory to achieve a valuation of USD 526 million by 2024, with a robust Compound Annual Growth Rate (CAGR) of 6.9% expected until 2034.
The fruit’s surge in demand is a significant driver of market expansion, owing to its versatility and adaptability in diverse food and beverage products.
The fruit’s popularity in the food and beverage sector has allowed producers to innovate, introducing a variety of tropical food products tailored to meet the diverse preferences of consumers.
This phenomenon is further fueled by the increasing interest in exotic tropical fruits, perceived health benefits, and the rise in disposable income, particularly in developing nations.
To comprehensively analyze the market, the study categorizes key segments based on form, nature, end-use, and region.
Notably, the forms include powder and puree, nature encompasses organic and conventional, and end-use branches into food and beverages, food services, and retail/household.
Geographically, the regions covered are North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa.
While the dragon fruit market is still in its nascent phase in European markets, countries like Spain and Italy are experiencing a swift uptake in consumption.
The distinct appeal of dragon fruit has caught the attention of European consumers, hinting at its potential to become a staple in the region.
The global dragon fruit market is projected to expand at a CAGR of 6.9% through 2034, with estimated sales reaching USD 526.3 million in 2024.
The market is anticipated to reach an impressive US$ 1.02 billion by the end of 2034. North America expects a CAGR of 5.9% through 2034, while dragon fruit puree is expected to command a substantial 75.36% market share in 2024. East Asia is forecasted to claim 25.6% of the global market share by 2034.
A Fact.MR analyst notes, “More consumers are gravitating toward nutritional food items, benefitting the dragon fruit market, and businesses are seeing this as a feasible way to increase their customer base.”
Leading companies like Pitaya Plus, The Green Labs LLC, Song Nam Itd Co. LTD, Yanalla Farms Pty Ltd., and Steaz are making significant contributions to the market.
Pitaya Plus emphasizes innovation and sustainability, while The Green Labs LLC ensures supply chain efficiency.
The rise of dragon fruit puree in consumption is driven by growing awareness of its health benefits and its versatile applications across various food and beverage products.
Transformed from the vibrant pink or white flesh of the fruit, dragon fruit puree has found its way into smoothies, juices, jams, desserts, and alcoholic beverages, contributing to the expansion of this market segment.
As culinary preferences worldwide diversify, the sales of dragon fruit puree are expected to maintain an upward trajectory, providing a flavorful and nutritious option for innovative food and beverage creations.
Fact.MR presents a comprehensive analysis of the global dragon fruit market from 2018 to 2023, extending forecast market statistics for 2024 to 2034.
The study provides essential insights based on form, nature, end-use, and distribution channel across six major regions worldwide.
With the dragon fruit market’s upward trajectory, driven by its versatility and health benefits, it is poised to become a major player in the global fruit market.
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