DRAGON FRUIT MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2021 - 2027)

Dragon fruit is a natural product native to China. It has medicinal and nutritional values and is consumed in the raw form . It contains fibres and antioxidants, which help in lowering the risk of cancer. It is widely available in raw and powdered form and also used in the preparation of nutritional food & beverages. Amongst all producers, Vietnam is the largest producer of dragon fruit.

Companies covered

Pitaya Plus, Welch Foods Inc., Nam Viet Foods & Beverag Co., Ltd., Biourah Herbal (M) SdnBhd, Madam Sun Sdn.Bhd, Great Sun Pitaya Farm Sdn. Bhd., Bai Brands (Dr Pepper Snapple Group, Inc.), Raw Nice, Hybrid Herbs, Light Cellar, Wilderness Poets, Unicorn Superfoods, and SOL Organica

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Covid-19 Scenario Analysis:

Corona virus has spread all over the world and most of the countries are adopting lockdown measures to control the spread of the virus for securing public health. All business and production activities are fully shut down except food and medical sector or other, leading toward economic crisis in the country. Manufacturing and production functions are stopped which has slowed down the business and inactive trade and transportation has fully disrupted the supply chain because of which companies can face big losses in near future.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers And Impact Analysis

A considerable shift of preference toward plant-based food fuels the growth of dragon fruit. The expansion of dragon fruit market is due to the associated health benefits. Dragon fruit contains essential nutrients and good fibre and reduces the chances of occurrence of several cardiovascular diseases. It contains the necessary vitamins and keeps oneself hydrated. It ensures regular supply of blood in each part of the body and helps in boosting the immune system. Furthermore, dragon fruit contains prebiotics which help in maintaining the level of good bacteria. The increasing demand for the vegan food is propelling its growth. In addition to this ,it contains antioxidants which help in lowering the risk of cancer. Also ,the E-commerce sales are providing discounts on home delivery. These factors are helping in changing the market dynamics of dragon fruit. However, its small shelf life is a restraint in its growth.

The availability of dragon fruit powder and its juice as a health supplement is facilitating the growth of the market. Surge in the consumption of fresh fruits is also boosting its growth.

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The global dragon fruit market trends are as follows:-

New product launches to flourish the market

The introduction of new products with improved characteristic in the product portfolio of dragon fruit ingredients is stimulating the demand to a wide extent. The key market players are focusing on brand loyalty to extend their global footprint.
The consumers are inclined towards the nutritional products and the companies are considering this as a viable methodology to expand their customer base. The dragon fruit manufacturers are adopting robust tactics and engaged in advancement of packaging and labelling of the freshly produced dragon fruits. The manufacturers are opting for advanced technologies in order to increase the shelf life of the products and preventing them from getting spoiled. For instance-a company called Perfotec is extending the shelf life of these perishable foods by measuring the respiration rate of fruits & vegetables and adjusting the packaging accordingly. It will improve the product quality also.

Surge in usage in automotive and industrial applications

There is an increase in the consumption of dragon fruits as salads, cake toppings, and beverages. Hence, the usage of dragon fruit in food industry is witnessing a remarkable growth, Also, increased applications of dragon fruit in jams, sauce, bakery and confectionary has fueled the demand of dragon fruit.

Key Benefits of the Report:

This study presents the analytical depiction of the dragon fruit market along with the current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dragon fruit market share.

The current market is quantitatively analyzed from 2020 to 2027 to highlight the dragon fruit market growth scenario.

Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.

The report provides a detailed dragon fruit market analysis based on competitive intensity and how the competition will take shape in coming years.

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