Market Size of Dragon Fruit Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 14.73 Billion |
| Market Size (2029) | USD 18.27 Billion |
| CAGR (2024 - 2029) | 4.40 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
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Dragon Fruit Market Analysis
The Dragon Fruit Market size is estimated at USD 14.73 billion in 2024, and is expected to reach USD 18.27 billion by 2029, growing at a CAGR of 4.40% during the forecast period (2024-2029).
In addition to the serious implications on people's health and healthcare services, the COVID-19 pandemic has had a significant impact on the global dragon fruit market as well. In terms of demand, low demand was observed in supermarkets where consumers are mostly focused on healthy products with a long shelf life, and hence, demand for fruits remained low in many Asian countries, such as China. Further, as the restaurants were closed during the COVID-19 pandemic, the market demand for dragon fruit suddenly dropped. Intermediaries were afraid of unmarketable conditions, so they reduced their purchase volume in production areas. This widened the demand supply gap in many countries.
The dragon fruit market is growing at a robust rate, owing to the increasing demand for fresh dragon fruit. Additionally, the demand for exotic tropical fruit is on the rise in recent years due to various health benefits that they offer and an overall increase in disposable income of the consumers, especially in developing nations. In Europe, although the dragon fruit is relatively new and is not widely advertised, still the market is very promising and attracting more and more consumers. These are the major factors that are driving the market growth of dragon fruits.
Health-conscious consumers are increasingly demanding dragon fruit, especially in the United States. Dragon fruit is available in the United States year-round, however, is also imported from a few different countries. As the dragon fruit is considered a specialty product, the MRL (Maximum Residue Level) laws for dragon fruit in the United States are very different compared to traditional products like apples or cherries. Only about 13 chemicals can be used on the fruit to supply to the United States.
Asia-Pacific dominates the dragon fruit market both in terms of production as well as consumption. Dragon fruit is one of the prominent export fruit of Vietnam. The international trade in dragon fruit mainly revolves around major exporters like countries in South East Asia and Central America which represents the maximum share of the entire international trade of dragon fruits.
