Market Research Report
Global Mangosteen Market - 2021-2028
|Global Mangosteen Market - 2021-2028|
Published: August 20, 2021
Content info: 180 Pages
Delivery time: 2 business days
Mangosteen is a tropical plant native to tropical countries. Mangosteen grows mainly in Southeast Asia, southwest India and other tropical areas such as Puerto Rico, Columbia and Florida. The plant has an edible fruit that is used widely as an active pharmaceutical ingredient. The mangosteen fruit is sweet and tangy, juicy and fibrous with purple colored rind when ripe. Mangosteen is a rich source of vitamin C and B9 that pose high antioxidant capacity. Also, the fruit consists of fiber, minerals such as copper and magnesium, and protein. Leaves, bark, seeds and other plant parts of mangosteen are also often used for their nutritional properties.
The medicinal properties of mangosteen led to a market for its extract in pharmaceutical, food, supplement and animal feed applications. Natural products, such as mangosteen peel, have been used as reducing agents to generate AuNP using a greener approach. Gold nanoparticle (AuNP) has been promoted as a drug and antibody delivery system due to its multiple surfaces functionality. The global Mangosteen market valued USD XX million in 2020 and is estimated to reach USD XX million by 2028, growing at a CAGR of xx%.
The health benefits of the mangosteen fruit is likely to favor the market growth
The rich nutritional profile of mangosteen and its potential health benefits in human health is the major factor driving the growth of global mangosteen market. It is loaded with essential nutrients and pose antioxidant, anti-inflammatory and anti-aging properties, resulting in use cases across various industries. Antioxidants are compounds that neutralize the damaging effects of potentially harmful molecules called free radicals, which are linked to various chronic diseases. Also, these fruits are proven to be an anti-diabetic and anti-cancer agent, driving its demand in high-value pharmaceutical applications. Also, its aids in treatment for conditions such as diarrhea, osteoarthritis, gonorrhea, menstrual disorders and intestinal infections
The unique antioxidant found in abundance that gives the fruit a superior edge is a naturally occurring polyphenol compound known as Xanthones. Mangosteen fruit contains at least 20 known Xanthones found in the fruit wall or pericarp of the fruit. Xanthones work to reduce oxidative stress caused by free radicals. These antioxidants protect the body from various diseases by damaging the free radicals, ranging from common cold and flu, cancer risk, and heart disorders.
Adverse health effects of mangosteen and history of its ban are hindrances to the market
Mangosteen has been found to slow down the blood clotting, thus increasing the risk of bleeding in susceptible individuals. Consumption of mangosteen pose a risk of severe lactic acidosis. Lactic acidosis a medical condition characterized by the build-up of lactate in the body. This happens mainly due to the formation of excessively low pH in the bloodstream. Also, the USFDA imposed ban on import of mangosteen in to the U.S., owing to concern towards Asian fruit flies present on the fruit. The ban was lifted in 2007 with precautionary irradiation of the fruit. However, this is likely to result in degradation of nutrition in the fruit
Pharmaceuticals and nutraceuticals are offering growth avenues for mangosteen owing to its usability in broad range of health conditions
The use of mangosteen in pharmaceuticals is likely to grow at a rapid rate during the forecast period. Mangosteen is an important medicinal plant with several medicinal uses in traditional medication systems. The different parts of mangosteen, mainly the fruit hull, the bark, and the roots, have been utilized for hundreds of years in Southeast Asia as an herbal medicine within a great variety of medical conditions. In China, India, Thailand and other parts of Asia, the dried and powdered fruit hull is used as antimicrobial agents and anti-parasitic treatments in dysentery and externally for healing wounds and chronic ulcers. Approximately 40 of over 200 naturally occurring xanthones are found in mangosteen. The most studied xanthones are α-, B- and γ-mangostins, garcinone E, 8-deoxygartanin and gartanin. They possess antioxidant, anti-tumoral, anti-allergic, anti-inflammatory, anti-bacterial, anti-fungal and anti-viral properties.
Use in traditional medicinal practices such as Ayurveda and TCM led Asia Pacific to the top of the Mangosteen market
Asia Pacific evolved as the largest market for Mangosteen, accounting for nearly XX% of the global sales revenue in 2020. China, India, Malaysia and Indonesia are the major national markets, holding a significant share of the regional revenue. According to China Customs statistics, mangosteen imports to China in 2014, 2015 and 2016 reached USD 158 million, USD 238 million and USD 149 million, respectively. Imports from Thailand accounted for the vast majority of all mangosteen imports, with a market share of 90.97%, 92.68%, and 84.66% for the three consecutive years, respectively. The next largest importer was Malaysia with a 9.1%, 7.3%, and 15.3% share of China's imported mangosteen market; Indonesian mangosteen only accounted for a negligible 0.02% in 2016. In 2017, China imported USD 54.63 million worth of mangosteen, of which over 99% originated from Thailand. Data from the International Trade Center has shown that imports of mango, guava and mangosteen from Vietnam to the Russian market went up sharply in the 2016-2020 period, increasing 68.4 percent per year on average. Import values reached USD 83.46 million last year, up 187.7 percent over 2019 and 612.2 percent higher than 2016. Russia imported the most significant amounts of mangoes, guavas and mangosteens from Peru in January 2021. The proportion of imports from this market accounted for 69.4 percent of the total import volume of Russia. In India, mangosteen is being grown only in the south. At 1,000 tons, Kerala is India's leading mangosteen producer, followed by Tamil Nadu, where an estimated 200 tons of mangosteen is grown in Pollachi, Upper Palani hills and Coonoor. Karnataka comes third on the list.
Competitive Landscape: Mangosteen production is largely confined to few countries, leading to price and supply competition in the market
The global mangosteen market is moderately fragmented with the presence of small to medium range companies. Herbo Nutra, Kodai Fresh, Thongpad Fruits Vegetable Limited, Lakewood Juice Company, Bali Glow, Genesis Today, Cresco World Trading Co. Limited, Maha Chokdee Company Limited, Organics & Community Co. Limited and Thiptipa Company Limited are some of the key players operating in the market. In addition, the major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the mangosteen market globally
COVID-19 Impact: Pandemic had a mixed impact on the global Mangosteen market
Globally, agri-food systems faced multiple challenges with COVID-19, calling for a more resilient agri-value chain, both domestically and internationally. According to experts, the lockdown and other restrictions to contain the pandemic have led to supply chain disruptions and shrinking demand for many agricultural products. These disruptions have affected farmers and other stakeholders in the agri-value chain, including input suppliers, processors, agri-transporters, and extension officers. The closure of herbal markets, particularly in India led mangosteen exporters to withdraw from the industry. In addition, COVID-19 has fundamentally changed the markets by altering the eating habits and spending pattern of people across the globe. The pandemic has escalated the trend for immunity-boosting foods and supplements. This is likely to drive the sales of mangosteen based supplements in near future. According to a recent industry survey, the pandemic has prompted 45% of consumers in Europe to add more nutrients into their diet and 29% reported being more interested in foods that can support the immune system.