Sweet Success: Global Mango Market Analysis 2024

"The Business Research Company recently released a comprehensive report on the Global Mango Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The mango market size has grown strongly in recent years. It will grow from $63.65 billion in 2023 to $67.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to rise in disposable income, increase in growth rate of exports, consumer preferences towards mango flavored drinks, emerging markets growth and rising awareness associated with benefits of plant-based food products..

The mango market size is expected to see strong growth in the next few years. It will grow to $89.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to increased awareness about the health benefits, rapid growth in ecommerce, increasing population and government initiative. Major trends in the forecast period include investing in new processing technologies to combat fungal infection and reduce physiological degradation, leveraging edible coatings for better shelf life and protection from microbes, adopting new storage technologies to preserve fruit quality and shelf life and developing and launching new and better product variants..

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Market Drivers and Trends:

The rapid growth in e-commerce supports the growth of the mango market. E-commerce is the process of exchange of money and data to transact business through the internet. E-commerce stores offer a wide range of groceries, fruits, vegetables, and farm produce. The produce goes through high standards of quality control and testing in terms of shelf life, grade, packing materials, and organic characteristics. For instance, in September 2022, according to the International Trade Administration, a US-based government agency, consumer eCommerce currently makes up 30% of the UK's overall retail industry, up from 20% in 2020, and generates over $120 billion in yearly sales. In 2021, 82% of people in the UK made at least one online purchase. Thus, the rapid growth in e-commerce supports the growth of the market.

The mango market growth is supported by government initiatives to recognize the nutritional need for suitable alternatives for other food in public health schemes. Mangoes are rich in vitamins, minerals, and antioxidants, and it has been associated with many health benefits, including potential anticancer effects, as well as improved immunity and digestive and eye health. For example, in March 2022, in a major boost to export, the Agricultural and Processed Food Products Export Development Authority (APEDA) (Indian Apex-Export Trade Promotion Active government body) facilitated the season's first consignment of fresh Mangoes exported from Mumbai to Japan. A mango festival is being organized in Tokyo, Japan as a part of Azadi ki Amrit Mahotsav, in collaboration with the Embassy of India, Japan & Invest India, wherein mango exhibition & tasting will be done at various outlets of Lawson supermarkets. APEDA has taken a number of export promotion activities and initiatives, by way of the development of virtual portals for organizing Virtual Trade Fairs, Farmer Connect Portal, e-office, Hortinet Traceability system, Buyer Seller Meets, Reverse Buyer Seller Meets, product-specific campaigns, etc. APEDA has been closely working with the state government to create infrastructure and promotion of exports from the state. Thus, the government initiatives on plant-based food products will support the growth of the mango market.

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Major Key Players of the Market:

Huya Inc, ViacomCBS Inc, Afreecatv Corp, Twitch Interactive Inc, Scienjoy Holdings Corporation, Alphabet Inc, Meta Platforms Inc, Vimeo Inc, Microsoft Corporation, Dacast, Douyin, Kuaishou, Yizhibo, Bolo Live, Uplive, Hakuna Live, Movistar+, Tf1, Rakuten Tv, Maxdome, Britbox, Dazn, Spiideo, Kinopoisk, Rutube, Amediateka, Okko, Romania Tv, Antena3, Film Web, Amazon, Boxcast, Empire Video Productions Llc, Facebook Inc, Flux Broadcast, Google LLC, IBM Corporation, Instagram Inc, Periscope, Pluto Inc, Calypso, Story Max, Zetenta, Creatives Rd, Globant, Axented, Ripenapps Technologies, Elevate Marketing Agency, Fasmedia.Ae, Zapio Technology, Marketing Window, Gravity Production, Takkah Production, Dice, Rightclick, Livestreaming Kenya, Showmax, Flash Forward Productions, Protel Studios, Streamlab Za

Mango Market 2024 Key Insights:

• The mango market size is expected to see strong growth in the next few years. It will grow to $89.55 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• E-Commerce Boom Drives Accelerated Growth In The Mango Market
• Government-Backed Initiatives Propel Mango Market Growth, Expanding Export Opportunities And Nutritional Recognition
• Asia-Pacific was the largest region in the mango market in 2022

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