US and Canada Dragon Fruit Market to Grow at a CAGR of 4.7% to reach US$ 194.10 Million from 2020 to 2027

The US and Canada dragon fruit 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. In 2018, US held a larger share in the US and Canada dragon fruit market.

The market growth in the country is primarily attributable to the rapid rise in population demanding more of healthy products. Further, increase in the disposable income and shift in focus toward the consumption of exotic varieties of fruits are driving the growth of the dragon fruit in the US. Further, mounting focus toward research and development activities has propelled the productivity of dragon fruit in the country. The growth of the industries such as food and beverages, and pharmaceuticals is also expected to stimulate the demand of dragon fruit in the country. The escalating preference for organic farm products is expected to have a positive impact on the dragon fruit market in the coming years. The US market is characterized by the strong presence of players such as A Natural Farm, J and C Tropicals, Miami Fruit, and Moonland Produce.

The COVID-19 pandemic originated in Wuhan (China) in December 2019, and since then, it has spread across the globe at a fast pace. The US, Brazil, India, Russia, Italy, China, Spain, France and Germany are among the worst-affected countries in terms confirmed cases and reported deaths as of June 2020. The pandemic has affected economies and industries due to enforced lockdowns, travel bans, and business shutdowns. The global food and beverages industries are suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this outbreak. The global economic breakdown due to COVID-19 is also affecting the growth of the dragon fruit market growth mainly due to obstacles in supply chain.

US and Canada Dragon Fruit Market

Market Insights

Beneficial Culinary and Medical Properties of Dragon Fruit Drives Market Growth

Dragon fruit or dragon fruit (Hylocereus undatus) is one of the exotic fruits. Dragon fruit tree is regarded as an ornamental vine in gardens and landscapes. In the food & beverages industry, the fruit finds application as a flavoring agent in drinks, fruit bars, smoothies, pastries, juices, jellies, alcoholic beverages, and sorbet. The fruit is a rich source of protein, fiber, iron, and antioxidants. The fruit pulp is composed of antioxidants along with vitamin B and C, polyunsaturated (good) fatty acids, carotene, proteins, and minerals. Also, its seeds are rich in polyunsaturated fats such as omega-3 and omega-6 fatty acids, which help minimize the formation of triglycerides. Essentially, the fruit portrays several medicinal values. The consumption of dragon fruit is often linked to health benefits such as improving metabolism, strengthening bones and teethes, purifying blood, assisting tissue formation, boosting immune system, healing bruises and wounds, and others. The consumption of dragon fruit is believed to reduce the cholesterol concentration, create balance in blood sugar concentration, prevent colon cancer, and facilitate harmonious kidney and brain function. It also helps eliminate the toxic products from body and enhances eyesight. The presence of Lycopene, which imparts red color in the fruit, has been associated with lowering of prostate cancer risk.

Due to its nutritional and therapeutic properties, dragon fruit is increasingly being used in the preparation of herbal medicines in the pharmaceuticals industry. Other than the abovementioned applications, the fruit is also used in preparation of natural dyes or colorants and several cosmetic ingredients. The rising trend of choosing products of natural origin or those containing natural ingredients also supports the growth of the dragon fruit market. Further, the growth of the food & beverages, cosmetics, and other related industries propels the demand for dragon fruits in the US and Canada.

Increasing Focus on Research and Development Related to Dragon Fruits Fuels Market Growth

Dragon fruit is a vining cactus grown as a backyard plant in San Diego and other counties in California for its edible fruit. However, despite the rising popularity of the fruit, the local supply of the fruit is almost nonexistent. Also, bans on imports of fresh dragon fruit in the US have generated significant interest among local cultivators and marketers to tap the potential amount of opportunities for commercializing dragon fruit in US and Canadian market. 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. Also, several researches have been focused towards to treat the diseases and pests occurring on dragon fruit plant. Researchers are keen to understand the effects of virus which may affect the productivity of dragon fruit and, therefore, focused upon developing immunostrip for field testing.

Type Insights

Based on type, the US and Canada dragon fruit market has been segmented into white dragon fruit, red dragon fruit, and yellow dragon fruit. In 2018,the white dragon fruit segment held the largest share in the US and Canada dragon fruit market in 2018. It is attributable to increase in the imports of white dragon fruit from South Asian, Central American, and other countries, coupled with growing demand of the fruit from the food and beverages, and pharmaceutical industries. Further, the growing consumer awareness regarding the nutritional and therapeutic profile of the white dragon fruit has, further, promoted its demand in the US and Canada. Moreover, the growth of the segment is also supported by rising health consciousness among consumers, coupled with increasing consumer preference towards exotic varieties of fruits.

US and Canada Dragon Fruit Market by Type

Distribution Channel Insights

The US and Canada dragon fruit market, by distribution channel, has been segmented into supermarket/hypermarket, convenience store, online, others. In 2018, the supermarkets/hypermarkets segment dominated the market, whereas the market for the online segment is expected to grow at the fastest CAGR during 2020–2027. Hypermarkets and supermarkets are self-help stores where products are placed in an organized manner in different sections and shelves to attract customers. These types of stores offer an extensive choice of dragon fruit products by the means of different types and sizes, in affordable prices compared to other distribution channels. This factor has led to the elevated sales of dragon fruits through supermarkets and hypermarkets.

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US and Canada Dragon Fruit Market: Strategic Insights

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A Natural Farm; Hoang Hau Dragon Fruit Farm Co., Ltd.; Frieda's; Melissa's; and J&C Tropicals are among the key players operating in the US and Canada dragon fruit market. Their fruits are used in various industry applications as well as by individual consumers. They also operate their distribution facilities for dragon fruit in various countries worldwide, which helps them in catering to a wider customer base. These market players are highly focused toward the offering high-quality products to fulfillcustomer requirements. The companies are highly involved in the expansion of their distribution capabilities in different regions.

US AND CANADADRAGON FRUIT MARKET SEGMENTATION

By Type

• Red Dragon Fruit
• White Dragon Fruit
• Yellow Dragon Fruit

By Distribution Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Online
• Others

By Country

• US
• Canada

Company Profiles

• A Natural Farm
• J & C Tropicals
• Miami Fruit
• Moonland Produce, Inc.
• Hoang Hau Dragon Fruit Farm Co., Ltd
• Frieda's
• Melissa's
• Freshway Produce