Tropical Fruits Market Size
Global Tropical Fruit Market reached USD 4.5 billion in 2022 and is expected to reach USD 6.7 billion by 2030 growing with a CAGR of 5.2% during the forecast period 2024-2031. The primary driver for the tropical fruit market's expansion is the increasing demand for passion fruit, kiwi fruits, mangoes, pineapple, and others.
Consumers are becoming more health-conscious and are seeking nutritious and flavorful options, which tropical fruits can provide. The unique taste profiles and nutritional benefits of tropical fruits are expected to drive their popularity and market growth. The tropical fruits be divided into six products according to products: mango, dragon fruit, papayas, pineapples, bananas, guavas, and others.
The growing popularity of locally available nutritious foods among consumers is fueling the global tropical fruit market growth during the forecast period 2024-2031. The tropical fruit market offers customers a wider range of varieties, which is also healthful. The industry expansion of fruits has been encouraged by the rising demand for tropical fruit products, which in turn, is estimated to drive the tropical fruit market demand.
Market Scope
| Metrics | Details |
| CAGR | 5.2% |
| Size Available for Years | 2022-2031 |
| Forecast Period | 2024-2031 |
| Data Availability | Value (US$) |
| Segments Covered | Product, Distribution Channel, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights. |
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Market Dynamics
Rising Awareness about Health Among Consumers is Estimated to Drive the Tropical Fruit Market Growth.
Tropical fruits provide essential minerals, vitamins, fatty acids, dietary fiber, ascorbic acid), riboflavin, vitamin A, thiamine, niacin, pyridoxine, folic acid, and vitamin E. Presence of these nutrients helps in reducing the risk of cancer, improve digestion, reduce inflammation, improve digestion, and some other health benefits. Thus rising awareness about the health benefits caused by tropical fruits is driving the global tropical fruit market.
Kiwi fruits, bananas, and papaya are primary products in the growing market for tropical fruit goods. Globally, consumers are growing more knowledgeable about health and well-being, also changes in the lifestyles of individuals, eating habits, and increasing awareness about weight and heart-related diseases. The increase in consumer’s preference to have organic or natural & tropical fruits instead of artificial flavoring is driving the market growth.
Increasing Demand for New Products is Driving the Market Growth.
An increase in health-conscious consumers, clean-label and organic tropical fruit is the preferred bread category globally. In addition, they want a greater variety of fruit items. As a result, botanists are producing tropical fruit with different grafting techniques to produce high-quality tropical fruits in order to suit the consumer’s preferences and changing desires, which is driving the tropical fruit market growth.
The producers of tropical fruit are utilizing consumers approval for innovative varieties to develop value-added items that will diversify their product lines. For instance, in April 2021, Aussie Frozen Fruit an Australian company launched frozen pineapples product as their fifth product in the range - 400g packs of 100% Australian-grown. Thus increasing product launches are driving market growth.
High Perishability and Environmental Challenges are Impledes are Market Growth.
The tendency of fruits to deteriorate quickly leads to reduced shelf life and quality, including moisture content, temperature sensitivity, and enzymatic activity. Fruits that perish quickly have compromised quality by the time they reach consumers. This can result in customer dissatisfaction, reduced repeat purchases, and damage to brand reputation. Proper high-end equipment is needed to avoid the deterioration of fruits, which can show its effect on the price of the product.
Environmental challenges such as extreme temperatures, droughts, floods, and storms. These conditions can negatively impact fruit production, affecting crop yields, quality, and overall availability. Water scarcity is a growing concern in many regions. Thus high perishability and environmental challenges are restraining the growth of the global tropical fruit market.
Market Segment Analysis
The global tropical fruit market is segmented based on product, distribution channel, and region.
In the Global Market of Tropical Fruit, the Offline Segment Holds the Largest Market Share.
The global tropical fruit market has been segmented by distribution channels: offline and online The artisanal segment held the largest tropical fruit market share of 35.8% in 2022 in the Tropical Fruit market analysis report. The offline stores include supermarkets and hypermarkets, convenience stores, independent retailers, specialist retailers, and others. Customers enjoy offline stores since they provide convenience and easy availability. This helps in driving the market.
Other significant factors influencing the growth of the offline segment include as these channels allow for immediate purchase and consumption, and also ensuring freshness and quality of fruits. Some of the popular stores include Central Market in Texas, Wegmans in the Atlantic, Heinen's in Ohio and Chicagoland, Gelson's in Southern California, New Seasons Market in Oregon, Washington, and some others.
Market Geographical Share
The North America Region Held the Largest Share in Tropical Fruit Market.
The global tropical fruit market is segmented into five parts of the world based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North America tropical fruit market held the largest market share of 42.6% in 2022 in the tropical fruit market analysis. Increasing awareness about the health benefits caused by tropical fruits such as reduced cancer risk and promoting heart health are attributed to an increase in consumption of tropical fruit in this region.
According to statistics reported by the USDA, the U.S is reported as the largest importers of papaya with 198,639 tons in 2022 with 85% globally. This can be explained by the fact that the majority of households in this region consume tropical fruits as part of their diet. This is due to the diverse consumer base in this area, as there is increasing in awareness about the health benefits caused by fruits, conveniences, and ready-to-eat are anticipated to support market expansion in the North America region.
Tropical Fruits Key Players
The major global players in the market include Kendall Fresh Frozen Fruits, Inc., Del Monte Produce Inc., Nomad Foods, Nature's Touch, Harvest Food Group, Titan Frozen Fruit, Meel Corp, Val-Mex Frozen Foods, Royal Ridge Fruits, and SunOpta.
COVID-19 Impact on Market
Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 had a profound effect on the tropical fruit industry. Covid-19 has had a considerable impact on the phases of the global tropical fruit supply chain that involve tropical fruit production, processing, distribution, and consumption as a result of lockdowns and restrictions imposed by various governments.
Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry in the world, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence and could have an impact on interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.
The COVID-19 pandemic issue has had an impact on the tropical fruit industries as well. The COVID-19 pandemic is upending life, and the fruit processing sector is seeing an increase in trends like kiwi fruits, dragon fruit, passion fruits, and exotic fruits. The tropical fruit businesses are launching innovative programs, including mangoes, pineapples, bananas, guavas, papayas, and others. Which are readily available and simple to consume.
By Product
- Mango
- Dragon Fruit
- Papayas
- Pineapples
- Bananas
- Guavas
- Others
By Distribution Channel
- Online
- Offline
- Hypermarkets/Supermarkets
- Independent Retailers
- Specialist Retailers
- Convenience Stores
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In March 2022, Alphonso mango farmers from the Konkan region partnered with Innoterra, a Swiss-Indian food and tech platform company to launch their brand, Ekyaam.
- In February 2022, Sanlucar, a Spain-based company that grows bananas exclusively in Ecuador's coastal region of “Los Ríos” partnered with Vinylic. Through modern, sustainable, and careful ripening technology, the company aims to address the fruit's needs and ripen the bananas in a controlled manner.
- In March 2021: Malaga-based company, Trops launched a campaign to promote avocado consumption in the market under the slogan "TROPS Avocado, the best avocado in the history of avocados".
Why Purchase the Report?
- To visualize the global tropical fruit market segmentation based on product, distribution channel, and region and understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of tropical fruit market level with all segments.
- The PDF report consists of a cogently put-together market analysis after exhaustive qualitative interviews and an in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global tropical fruit market report would provide approximately 54 tables, 57 figures and 190 Pages.
Target Audience 2024
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
