Jackfruit Market Outlook
According to the report by Expert Market Research (EMR), the global jackfruit market size is projected to grow at a CAGR of 3.40% between 2024 and 2032. Aided by the rise in popularity of jackfruit, and the consequent increase in demand, the market is expected to grow significantly by 2032.
Jackfruit is a tropical fruit native to South and Southeast Asia. It is renowned for its versatile culinary applications and its substantial nutritional profile. As the largest tree-borne fruit, it can weigh up to 55 pounds (25 kilograms) and is distinguished by its spiky outer skin and fibrous interior. Jackfruit’s flavour is unique, often described as a blend of apple, pineapple, mango, and banana.
Nutritionally, jackfruit is a powerhouse, packed with vitamins, minerals, fibre, and antioxidants. It is particularly noted for its high vitamin C content, which boosts immunity, and its significant levels of dietary fibre, beneficial for digestive health. Additionally, jackfruit contains protein, making it a popular meat substitute in vegetarian and vegan diets.
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The surge in the jackfruit market demand can be attributed to several factors. Firstly, the global rise in veganism and plant-based diets has positioned jackfruit as an ideal meat substitute due to its texture, which closely resembles pulled pork when cooked. This characteristic has led to its increasing use in vegan and vegetarian recipes, significantly driving its popularity in Western countries.
Moreover, the growing awareness of jackfruit’s health benefits has influenced the jackfruit market outlook. Its rich nutritional profile aligns well with the global trend of health-conscious eating. Consumers are increasingly seeking out natural, nutrient-rich food options, and jackfruit fits this bill perfectly.
In addition, the expansion of international trade and the globalisation of food cultures have facilitated the accessibility of jackfruit in non-native regions. This increased availability has led to a broader consumer base and a deeper integration of jackfruit into diverse culinary traditions, thereby, boosting the jackfruit market growth.
Beyond its culinary uses, jackfruit has found a niche in various industrial applications. Its seeds, rich in protein and other nutrients, are used in animal feed and as an ingredient in various food products. The wood of the jackfruit tree is valued for its durability and is used in furniture making and construction.
Asia Pacific accounts for a significant portion of the jackfruit market share, with countries like India, Bangladesh, Thailand, and Indonesia being major producers. The fruit is deeply ingrained in the culinary traditions of these regions, contributing significantly to its dominant market share. However, the market is rapidly expanding in North America and Europe, driven by the growing popularity of vegan diets and the increasing presence of ethnic foods in these regions.
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Jackfruit Market Segmentation
The market can be divided based on type, application, distribution channel, and region.
Market Breakup by Type
- Cheena
- Golden Pillow
- Tabouey
- Black Gold
- Cochin
- Others
Market Breakup by Application
- Fresh Consumption
- Processed
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Speciality Stores
- Retail Stores
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global jackfruit market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cabefruit Produce LLC
- The Jackfruit Company
- Mother Dairy Fruit & Vegetable Private Limited
- Kiril Mischeff Limited
- Samroiyod Corporation Ltd.
- Others
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