Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Grapefruit Market- 2017-2027
Definition of Market/Industry:
A grapefruit is a citrus fruit with sour to semi-sweet taste. It is a citrus hybrid, which is a result of accidental hybrid between two citrus species, which include pomelo and sweet orange. The grapefruit comprises 92% water making it one of the fruits with highest water content. Moreover, consumption of this fruit keeps body hydrated. On the basis of variety, grapefruit market is further segmented into pink/red and white.
The grapefruit market was valued at US$ 7,939.7 Mn in 2018 and is expected to reach US$ 11,005.7 Mn by 2027, exhibiting a CAGR of 3.8% over the forecast period (2019 to 2027).
Various health benefits associated with the consumption of grapefruit is expected to boost demand for grapefruit during the forecast period. Grapefruit is a rich source of nutrients such as vitamins, minerals, and antioxidants. Apart from nutritional content, intake of grapefruit has various health benefits such as it lowers the risk of kidney stone, type 2 diabetes, and improves blood pressure and lipid levels in the blood.
Furthermore, increasing demand for grapefruit from end-use industries such as food & beverages, among others is expected to fuel growth of the grapefruit market over the forecast period. For instance, in the food and beverages industry, grapefruit is used in salads, smoothies, yoghurt loaf, and others owing to various nutrients content in grapefruit such as vitamin C, beta-carotene and others. These factors are expected to propel demand for grapefruit over the forecast period.
Figure 1. Global Grapefruit Market Share (%), By Region, 2018
However, stringent government regulations for consumption of grapefruit by human is expected to restrain growth of the grapefruit market over the forecast period. For instance, according to the U.S. Food & Drug Administration’s CPG Sec 510.700 Fortification of Standardized Juices, the grapefruit juice-based products are supposed to be manufactured as per the standard of identity for the unfortified juice and cannot be manufactured as per manufacturer’s product requirement.
Key players are focusing on new product launches associated with grapefruit extracts, which is expected to fuel the market growth over the forecast period. These product launches are expected to help the vendors in expanding their product portfolio and thereby gain a larger customer base in the market. For instance, in September 2017, DrinkStar GmbH, a subsidiary of Symrise AG, launched grapefruit flavor in its lemonade brand, DIET. Furthermore, in October 2018, DrinkStar GmbH launched its new brand Fruit-Cola mix. The product is available in 14 flavors including grapefruit.
Market Trends/Key Takeaways:
The increasing adoption of grapefruit for manufacturing nutraceuticals is expected to propel the global grapefruit market growth over the forecast period. Grapefruit is one of the important members of the Rutaceae family (citrus family). The grapefruit peel have high nutrient content and these peels are source of dietary fibers. In addition, doctors’ advice to maintain a threshold limit of fiber in diet for proper functioning of digestive system. Moreover, consumers are becoming health conscious and are inclining towards consumption of natural and healthy ingredients, which is expected to drive demand for grapefruit in the manufacture of nutraceuticals. For instance, according to Coherent Market Insights analysis, the U.S. nutraceutical ingredients market was valued at US$ 5.83 Bn in 2016 and is estimated to increase to US$ 10.70 Bn by 2025, exhibiting a CAGR of 7.42% during the forecast period (2017-2025).
Figure 2. Global Grapefruit Market Share (%), By Variety, 2018
On the basis on variety, red/ pink segment accounted for the largest revenue share of 80.6% in terms of value in 2018, followed by white segment.
- 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
- Young Living Essential Oils
Citrus and Allied Essences Ltd.
- In 2016, the company expanded their distribution network by holding inventories in South Korea. Moreover, the company has warehouses in Maryland, California, Mexico, and the Netherlands.