New York, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Worldwide consumption of dragon fruit is estimated at 116,786 tons in 2023 and is projected to increase at a CAGR of 6% to reach 208,972 tons by the end of 2033, as per the latest market report by Persistence Market Research. Demand for dragon fruit is on the rise due to its beneficial properties, including its ability to impart attractive yellow and orange colors to various product formulations.
The global dragon fruit market is forecasted to increase from a value of US$ 507.3 million in 2023 to US$ 973.6 million by the end of 2033
Dragon fruit is used in the food and beverage industry as a natural colorant in soft drinks, juices, dairy products, bakery & confectionary goods, and others. Shifting consumer preferences and urbanization with increased disposable incomes are expected to influence the dragon fruit market and its demand. The pursuit of natural, healthier alternatives is driving market growth, reflecting a growing emphasis on these factors.
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The versatility of the fruit is evident from its various applications, including its role as a nutritional supplement. Dragon fruit is rich in vitamin A, which helps maintain healthy vision, boosts immunity, and promotes skin health. The increasing appeal of dragon fruit among consumers seeking functional and fortified foods is driven by the additional benefits it offers.
Key Takeaways from Market Study
- The global dragon fruit market stands at a valuation of US$ 507.3 million in 2023.
- Demand for dragon fruit in Europe is expected to reach a volume of 63,108 tons by the end of 2033.
- In South Asia & Pacific, India is a lucrative market for dragon fruit and is projected to rise at 6.4% CAGR through 2033.
- Global consumption of dragon fruit in powder form stands at 78,250 tons in 2023, making it the most consumed form of dragon fruit.
- Based on end use, the global food and beverage industry accounts for a volume share of 60.9% in 2023.
- Through 2033, volume sales of dragon fruit are expected to increase at 4.8% CAGR in Brazil and 5.2% CAGR in Mexico.
“Growing preference for organic and natural products among consumers has heightened the demand for natural dragon fruit, leading manufacturers to employ several processes to manufacture dragon fruit products in different quality levels,” says a Persistence Market Research Analyst.
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Competitive Landscape
Dragon fruit suppliers are expanding their global operations and investing in research and development (R&D) to maximize yield and develop novel products that augment health and wellness. Additionally, they are focusing on increasing the product's effectiveness to provide application solutions across different industries to maintain their footprint in the global market.
- Song Nam ITD Co., Ltd., a Vietnamese manufacturer of dragon fruit products, serves a wide range of food and beverage companies such as bakery, confectionery, and frozen desserts. The company's pure dragon fruit extract is created using traditional techniques, ensuring artisanal quality and intensity to enhance the flavors of the end products.
Explore More Valuable Insights
Persistence Market Research, in its new report, offers an impartial analysis of the global dragon fruit market, presenting historical data for 2018 to 2022 and estimation statistics for 2023 to 2033. The study offers compelling insights based on form (powder, puree), nature (organic, conventional), end use (food & beverages, foodservice, retail/household, others), and distribution channel (business to business, business to consumer), across major regions of the world.
For additional insights on how the growth of the dragon fruit market will shape up over the decade, write to media@persistencemarketresearch.com
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About Food & Beverages Division at Persistence Market Research
The Food & Beverages team at Persistence Market Research provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports about the latest statistics and analyses from the food & beverages industry, the team is happy to help with every business intelligence research and consulting requirement.
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