Tropical Fruits Market Report 2024

This Tropical Fruits market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The tropical fruits market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.64 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth during the historic period can be attributed to several factors, including rising global tourism exposure, the growing popularity of natural sweeteners, an increase in disposable income, a rise in veganism, and the expansion of international trade.

The tropical fruits market size is expected to see strong growth in the next few years. It will grow to $5.85 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth during the forecast period can be attributed to the increasing popularity of superfoods, the rising trend of smoothie bowls and juices, a growing interest in functional foods, and heightened awareness of antioxidant-rich foods. Key trends in this period include technological advancements in storage and transportation, AI-based crop monitoring, the use of blockchain for supply chain transparency, automated irrigation systems, and innovations in fruit preservation techniques.

The growing awareness of health and wellness is projected to drive the expansion of the tropical fruits market in the coming years. This shift towards health and wellness is fueled by a heightened understanding of how lifestyle choices affect overall well-being, supported by increased access to information regarding nutrition, fitness, and preventive healthcare. Tropical fruits are valued for their nutrient-rich profiles, providing benefits such as improved digestion, boosted immunity, and higher energy levels. For instance, in May 2022, the International Food Information Council, a U.S.-based nonprofit organization, reported that in 2022, 52% of Americans had followed a specific diet or eating pattern in the previous year, a significant increase from 39% in 2021. Thus, the growing awareness of health and wellness is contributing to the rise of the tropical fruits market.

Leading companies in the tropical fruits market are focusing on launching initiatives related to tropical fruits, such as mango programs, to enhance consumer interest and diversify their product ranges. A mango program refers to efforts aimed at promoting the cultivation, processing, marketing, or consumption of mangoes. For example, in April 2024, Dole Food Company, an agricultural firm based in the U.S., introduced a comprehensive mango program that expands its selection of tropical fruits. This initiative features various mango varieties, including Ataulfo, Tommy Atkins, Kent, Keitt, and Haden, all categorized as tropical fruits. These mangoes are sourced from tropical countries such as Mexico, Guatemala, and Costa Rica, showcasing Dole's dedication to broadening its tropical fruit offerings following the successful launch of dragon fruit.

In December 2023, GrubMarket Inc., a U.S.-based eCommerce firm, acquired A&B Tropical Produce for an undisclosed sum. This acquisition aims to enhance GrubMarket's presence on the East Coast and strengthen its position within the food supply chain. By integrating A&B Tropical Produce, GrubMarket intends to improve its sourcing capabilities and provide a wider selection of premium tropical fruits and vegetables to its clientele. A&B Tropical Produce is a U.S.-based company specializing in tropical and exotic fruits and vegetables.

Major companies operating in the tropical fruits market are Dole plc, Chiquita Brands International Inc., ALDI SOUTH Group, Alfa Laval AB, Del Monte Foods Inc., Fyffes International Holdings Limited, FreshPoint Inc., Citrofrut, Ocean Spray Cranberries Inc., Sraml, Sunich, TropicalFruit Export SA, Vegaproduce, Lemonconcentrate S.L.U., Tropical Fruit Box, Best Tropical Fruits Ltd, Melissa’s, Pineapple India, Tropical Green, Thai Agronomy Products Co.Ltd.

North America was the largest region in the tropical fruits market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the tropical fruits marker report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the tropical fruits marker report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Tropical fruits are those that grow in tropical climates, typically characterized by warm temperatures and high humidity throughout the year. These fruits thrive in regions near the equator, where the conditions are ideal for their growth. Known for their vibrant flavors and nutritional benefits, tropical fruits are rich in vitamins, minerals, and antioxidants, making them popular in both fresh and processed forms.

The primary products in the tropical fruits market include mangoes, dragon fruit, papayas, pineapples, bananas, guavas, and others. Mangoes, in particular, are sweet and juicy tropical stone fruits high in vitamins A and C, often enjoyed fresh, dried, or as juice, and incorporated into a variety of culinary dishes around the world. Distribution channels for these fruits include both online and offline platforms, serving various end users, including households and commercial entities.

The tropical fruits market research report is one of a series of new reports that provides tropical fruits market statistics, including tropical fruits industry global market size, regional shares, competitors with a tropical fruits market share, detailed tropical fruits market segments, market trends, and opportunities, and any further data you may need to thrive in the tropical fruits industry. This tropical fruits market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The tropical fruits market consists of sales of rambutans, lychees, passion fruits, and coconuts. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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