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The powered by dynamic market drivers and emerging trends, the exotic fruit market has been experiencing robust growth. Notably, the size of the market is projected to rise from $16.89 billion in 2023 to $18.03 billion in 2024, reflecting a compound annual growth rate CAGR of 6.8%. The historic period has seen an increased interest in superfoods, veganism, expanding international trade, and growing popularity of smoothie bowls and juices, and functional foods.
What Does the Future hold for the Exotic Fruit Market?
In the forecast period, the exotic fruit market is expected to witness significant growth. The sector is projected to reach an impressive $23.52 billion by 2028, boasting a CAGR of 6.9%. Factors such as the growth in online grocery shopping, increasing global tourism exposure, the rise in the popularity of natural sweeteners, increase in disposable income, and an upward trend in the awareness of antioxidant-rich foods are anticipated to shape market growth. Major trends are expected to include innovative fruit preservation techniques, eco-friendly farming techniques, superfood powders based on exotic fruit, a shift towards clean-label products, and blockchain technology in exotic fruit supply chains.
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What Will Drive the Exotic Fruit Market Expansion?
An essential growth catalyst for the exotic fruit market is the escalating demand for organic fruits. As consumers increasingly prefer fruits grown without harmful pesticides or GMOs, fruits such as dragon fruit, rambutan, and guanabana offer unique, nutrient-rich options for those leaning towards healthier lifestyles. In fact, in 2021, organic fruits and vegetables generated over $21 billion in revenue, rising to $22 billion in 2022. Consequently, this escalating demand for organic fruits is poised to continue driving the growth of the exotic fruit market.
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How Are Key Players In The Exotic Fruit Market Staying Competitive?
Noteworthy industry players shaping the dynamics of the exotic fruit market have been investing in advanced packaging technologies to meet the growing consumer demand for environmentally friendly and ethically sourced products. As part of this undertaking, firms are focusing on sustainable consumption patterns. A prime example is Frieda's Branded Produce, a US-based food and beverage services company that launched Frieda’s Passion Fruit Three-Pack in September 2023. This innovative packaging approach is designed to ensure convenience and freshness while turning heads with its bold design.
How Is The Exotic Fruits Market Segmented?
The segments are:
1 By Type: Passion Fruit, Rambutan, Dragon Fruit, Durain, Other Types
2 By Category: Organic, Conventional
3 By Distribution Channels: Online Platforms, Offline Specialty Stores
4 By End-Use: Commercial, Residential
Browse Through More Similar Reports By The Business Research Company:
Fruit And Nut Farming Global Market Report 2024
Organic Fruit And Nut Farming Global Market Report 2024
Dried Fruits Global Market Report 2024
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