Report : US and Canada Dragon Fruit Market Forecast to 2027 - COVID-19 Impact and Country Analysis by Type (Red Dragon Fruit, White Dragon Fruit and Yellow Dragon Fruit); Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online and Others)
Increasing Focus on Research and Development to Drive Dragon Fruit Market Growth at 4.7% CAGR during 2019-2027
According to our latest market study on "US and Canada Dragon Fruit Market to 2027 - COVID-19 Impact and Analysis - by Type (Red Dragon Fruit, White Dragon Fruit and Yellow Dragon Fruit) and Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online and Others), and Country)," the market was valued at US$ 129.15 million in 2018 and is projected to reach US$ 194.10 million by 2027; it is expected to grow at a CAGR of 4.7% from 2019 to 2027. The report highlights key factors driving the market growth, and prominent players along with their developments in the market.
Dragon fruit, also called as pitaya, pithaya, or strawberry pear, is a fruiting tree that belongs to cactus family; its varieties belong to Hylocereus spp. Three varieties of dragon fruits are grown commercially—H. undatus (white flesh with pink-red skin), H. polyrhizus (red flesh with pink-red skin), and Selenicereus Megalanthus (white flesh with yellow skin). Dragon fruit is often classified under exotic varieties of fruits and vegetables. The fruit consists of natural dietary fiber along with vitamins and potent antioxidants, and it has low calorie content. The consumption of dragon fruit minimizes the risk of several diseases such as cancer, diabetes, high blood pressure, and heart disease; it also helps prevent the miscarriage. Upon dermal application, the fruit assists in wound healing. Apart from this, dragon fruit finds its application in preparation of marmalades, jams, juice, jellies, wine, and beverages in the food and beverages industry. It has extensive demand in the preparation of medicines, and food coloring and thickening agents.
Several research studies have been carried out with an aim to enhance production and sale of dragon fruits in the US and Canada. Many of these studies focus on the post-harvest management and marketing activities related to the fruit.. New varieties of dragon fruits such as red flesh variety named LD1 as well as purple and pink flesh variety named LD5 have been introduced to the US and Canada, which are significantly contributing to the growth of the dragon fruit market. The LD5 dragon fruits can be preserved for long periods; they exhibit better quality and superior appearances, with resistance to several diseases. Also, such diversifications of dragon fruit varieties may lift competitive pressure from conventional white flesh variety. Beside this, plant material of 18 commercially grown varieties of dragon fruit have been identified as self-fruitful, and field trials are being conducted to evaluate the performance under different cultivating growing conditions in Southern California. Such research and development activities pertaining to dragon fruits are promoting the growth of the market in the US and Canada.
The COVID-19 pandemic has been affecting economies and industries in various countries, including the US, Brazil, India, Russia, Italy, the UK, Iran, and Spain. Food and beverages is one the world’s major industries suffering serious disruptions in the form of supply chain breaks, events cancellations, and office shutdowns as a result of the lockdowns imposed in various countries to contain the disease spread. China is the global manufacturing hub and is the largest raw material supplier for various industries; it is also one of the worst-affected countries by the COVID-19 pandemic. The lockdown of various plants and factories in China is affecting the global supply chains and adversely impacting the manufacturing and sales of various chemical and materials. These factors are likely to restrain the growth of various markets related to the food and beverages industry in next few financial quarters.
A Natural Farm; J and C Tropicals; Miami Fruit; Moonland Produce; Frieda's; Melissa's; Hoang Hau Dragon Fruit Farm Co., Ltd; and Freshway are among the well-established players in the US and Canada dragon fruit market.
