Global Tropical Fruits Market - 2023-2030

Market Overview

Global Tropical Fruit Market reached US$ 4.5 billion in 2022 and is expected to reach US$ 6.7 billion by 2030 growing with a CAGR of 5.2% during the forecast period 2023-2030. The demand for tropical fruit is increasing as they are wide availability of different products such as kiwi fruits, papaya, banana, and some others.

The growing awareness about the health benefits of tropical fruits, such as their high vitamin and antioxidant content, is driving their demand. Tropical fruits are often associated with various health benefits, including improved digestion, immune system support, and reduced risk of chronic diseases. This health-conscious trend is expected to fuel the growth of the tropical fruits market.

Key players are also focusing on brand improvement, product innovation, and launches to increase revenue and market share. 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. This launch can help in raising the global tropical fruit market share value.

Market Dynamics

Rising Awareness About Health Among Consumers is Estimated to Drive the Tropical Fruit Market Growth.

Tropical fruits are composed of essential minerals, vitamins, fatty acids, dietary fiber, ascorbic acid (vitamin C), riboflavin, vitamin A, thiamine, niacin, pyridoxine, folic acid, and vitamin E. It provides several health benefits and is also available in wide varieties such as mango, pineapples, banana, papaya, kiwi, dragon fruits, and some others. Consequently, the market for Tropical Fruit would increase more during the forecast period.

People consuming tropical fruits help in improving heart health, as they are a rich source of potassium, and contain a protein-digestive enzyme that reduces the risk of inflammation. In addition to that tropical butter also provides several health benefits such as improved digestion, boost immunity, improve skin, hair quality, reduce risk of cancer, and some others.

Increasing Product Launches are Driving the Market Growth.

Increasing product launches are driving market growth. The popularity of tropical fruits is increasing as people are becoming more aware of the health benefits caused by fruits. Tropical fruits are available in different varieties such as pineapple, banana, guava, kiwi fruits, dragon fruits, mangoes, and some others. These products can likely impede market growth.

Major rivals are working assiduously to meet this demand by expanding their product offerings and keeping consumers' health in mind, which is driving the tropical fruit market growth. For instance, 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.

High Perishability and Environmental Challenges are Impledes are Market Growth.

Fruits are highly perishable food as they contain high moisture percentage, which can deteriorate the food very quickly. Due to deterioration the quality of fruits can reduce, and this impacts the tropical fruits market negatively. Additionally, there is a need for efficient handling and transportation of fruits which is increasing the price of fruits.

Climate change brings about unpredictable weather patterns, such as extreme temperatures, droughts, floods, and storms. Excessive usage of pesticides can deteriorate the soil which affects the yield. These conditions can negatively impact fruit production, affecting crop yields, quality, and overall availability.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

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. Consumers are becoming more eager to spend money on high-end goods, and they are especially willing to do good for their health.

Consumers prefer buying tropical fruits offline to ensure freshness and quality. Also, offline stores are available locally which provides convenience. When compared to online stores, offline stores provide fruits at lesser prices which attracts buyers to prefer offline stores. These factors make the offline segment holds the largest market share in the global tropical fruit market.

Geographical Analysis

The North America Region Held the Largest Share of the Tropical Fruit Market.

The global smoked fish market has been segmented by fish type into smoked salmon, smoked mackerel, smoked herring, and smoked trout. The smoked salmon segment held the largest smoked fish market share of 35.8% in 2022 in the smoked fish market analysis report. The growing urbanization and rising purchasing power of the users are leading to the increasing market chances for tropical fruit over the forecast period.

Health-related factors, monetary factors that affect population purchasing power, and changes in consumer lifestyle are the main factors influencing butter consumption across North America. Modern lives, which include flexibility, mobility, cultural diversity, and understanding of different cultures, are also having an impact on fruit consumption.

Competitive Landscape

The major global players in the market include Kendall Fresh Frozen Fruits, Inc., Del Monte Produce Inc., Nomad Foods, Product's Touch, Harvest Food Group, Titan Frozen Fruit, Meel Corp, Val-Mex Frozen Foods, Royal Ridge Fruits, and SunOpta.

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.

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 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies