The global grapefruit market was valued at US$ 7,939.7 million in 2018, according to Grapefruit Market Report, by Variety (Red/ Pink, and White), by Consumption (Direct Intake, Grapefruit Oil Processing, Grapefruit Juice Production, Grapefruit Extracts Production, and Others), by Distribution Channel (Business to Business and Business to Consumers), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global grapefruit market is expected to reach US$ 11,005.7 Million by 2027, exhibiting a CAGR of 3.8% during the forecast period (2019-2027). The market for grapefruit is majorly driven by increasing awareness among populace about various health benefits associated with the consumption of grapefruit. Grapefruit offers various advantages such as it boosts heart health, weight loss, prevents kidney stones, in treatment of asthma, and gum disease, among others which has led to a growing demand for grapefruit among consumers. Moreover, growing health awareness and consumer spending are expected to the fuel the market growth. For instance, according to Centers for Medicare & Medicaid Services (CMS), in 2018, healthcare spending in the U.S. increased by 4.6% compared to 2017.
However, growth of the global grapefruit market is expected to be hampered by various government regulations regarding human consumption of grapefruit. For instance, according to the U.S. FDA, grapefruit can cause health issues upon interaction with some drugs that are indicated for lowering cholesterol such as Zocor (simvastatin) and Lipitor (atorvastatin), anti-anxiety drugs such as buspirone, and antihistamines such as Allegra, among others.
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https://www.coherentmarketinsights.com/market-insight/grapefruit-market-3622
Browse 50 market data tables* and 40 figures* on "Grapefruit Market” - Global forecast to 2027.
Key Trends and Analysis of the Grapefruit Market:
- Key players in grapefruit market are majorly focusing on expansion of their business activities, in order to strengthen their market position. These business expansions are further expected to drive growth of the global grapefruit market over the forecast period. For instance, in May 2016, Eckes Granini Group acquired Rynkeby Foods, a Denmark-based company, which is one of the leading producers of fruit juices in Europe. Furthermore, in April 2018, the company announced its partnership with true fruits GmbH, a Germany-based provider of fruit smoothies and fruit drinks.
Key Takeaways of the Market:
- Among distribution channel, business to consumer segment is expected to witness significant growth over the forecast period. The business to consumer segment includes hypermarkets & supermarkets, specialty stores, and online channels, among others. Local residents and small businesses that periodically need to replenish their stock of household products are primary customers of hypermarkets and supermarkets. These stores have established trust among consumers due to their convenient services and attractive offers. However, busy lifestyle and increasing preference for online shopping may hamper growth of this sub-segment over the forecast period.
- Significant growth of the e-commerce packaging sector is expected to drive the growth of the online segment. The increasing number of online portals such as Amazon Fresh, Nature’s Basket Limited, and Big Basket for buying groceries are expected to boost the segment growth over the forecast period.
- Latin America is expected to hold a significant market share over the forecast period, owing to favorable weather and the increasing amount of area for cultivation of grapefruit. For instance, according to the United States Department of Agriculture’s document on Citrus: World Markets and Trade published in January 2020, the production of grapefruit in Mexico is estimated to increase by 3% and reach 468,000 tons by the end of 2020. Moreover, according to the same source, the increasing production of grapefruit is expected to drive the consumption and exports of grapefruit from Mexico. These are expected to be the major factors facilitating growth of the Latin America grapefruit market over the forecast period.
- Major players operating in the global grapefruit market include Bontoux SAS, Citrus and Allied Essences Ltd., doTERRA International, LLC, Eckes Granini Group, Hale Groves, Hyatt Fruit Company, IMG Citrus, Lionel Hitchen Limited, Mountain Rose Herbs, Symrise AG, and Young Living Essential Oils
