The Global Pitaya Market is projected to register a CAGR of 3.8% over the forecast period. The global Pitaya Market (henceforth, mentioned because the market studied) is growing at a strong rate, due to the increasing demand for fresh dragon fruit. High production capabilities and luxurious weather contribute to the assembly of dragon fruits. The production of dragon fruits is majorly suffering from several factors, like environmental hazards, bio stress, and government policies of the country. Some of the major pests and diseases affecting dragon fruits are stem rot, anthracnose, mealybugs, aphids, etc. The unfavorable climate, like continuous low temperatures, even has a negative influence on the expansion of dragon fruits. Dragon fruit is that the leading fruit export of Vietnam. Major export destinations for these fruits are China, Thailand, and Indonesia. The fruit is additionally entering the new markets, including India, New Zealand & Australia, and Chile.
Top Driver: changing the diet pattern among the Chinese population, the demand for dragon fruit is growing
The demand for the Vietnamese Pitaya is especially thanks to its sizable production and high economic importance. It is categorized as a high-value crop, and therefore the local fruit industry in Vietnam features a competitive advantage. Dragon fruit has high water content and may be a good source of iron, magnesium, vitamin B, phosphorus, protein, calcium, and fiber. The fruit’s edible seeds are also nutritious, as they are high in polyunsaturated fats, like omega-3 and omega-6 fatty acids, which have been proved to lower the risk of cardiovascular disorders. Dragon fruit is a low-calorie fruit that is high in fiber and contains a good amount of vitamins and minerals. Owing to the aforementioned benefits, including changing the diet pattern among the Chinese population, the demand for dragon fruit is increasing, thereby, escalating the imports. Ancient Chinese legends believed that the pitaya was created thousands of years ago by a pitaya in a battle. The dragon is believed to have blown a burst of fire containing the fruit, hence, they believe in the good fortune brought by the pitaya name, shape, and colors. This one among the factors that’s driving the marketplace for dragon fruit in China.
Regular Pitaya to Make Crucial Contribution for Growth of Global Pitaya Market
The global pitaya market is often segmented on the source type, applications and distribution channels. Supported the source type, the dragon fruit powder market is often segmented as per the sort Regular Pitaya, Organic Pitaya. Supported the applications, the worldwide pitaya market are often segmented into cosmetics, pharmaceuticals, food & beverages, dietary supplements et al. . . . supported the channel , the worldwide pine needle oil market are often segmented into modern trade, specialty stores, franchise outlets, online channels et al.
Vietnam Is the Leading Producer of Dragon Fruit
The production of pitaya in Vietnam was 11, 98,854.1 metric tons in 2019, and it’s projected to succeed in 17, 06,065.3 metric tons by 2028, registering a CAGR of 6.0% during the forecast period. In Vietnam, the entire area under the assembly of dragon fruit is approximately 50,000 hectares with the white flesh variety accounting for quite 95% of production, followed by red flesh variety at 4.5%. Majority of the fruit production is supposed for exports instead of domestic consumption. Dragon fruit is especially grown in Binh Thuan, Long An, and Tien Giang provinces with quite 37, 000 ha being dedicated to its production, annually. the typical annual yield of the fruit is 22.7 metric tons/ha. However, the dragon fruit production in Vietnam is facing many difficulties, including the impact of global climate change and diseases (like brown spot disease, insects, and pests).
Players to Focus on Global Pitaya Market
various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and production by manufacturers during the forecast period of 2019 to 2028.
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