The Mangosteen market has been witnessing significant growth over the past few years on account of growing demand for fruits that offer nutritional advantages. Mangosteens are tropical fruits known for their deep purple color and sweet, tart taste. They contain numerous antioxidants like xanthones, anthocyanins, and polyphenols that provide protective effects against free radicals. This antioxidant-rich fruit helps in boosting the immune system and reducing inflammation. Moreover, mangosteens have anti-microbial, anti-viral, and anti-cancer properties that support overall health and wellness. The exotic looking appearance and nutritional benefits of mangosteens have prompted a surge in demand from the superfood and health-conscious consumer base in recent times.
The global mangosteen market is estimated to be valued at USD 382.2 Mn in 2024 and is expected to reach USD 534.3 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Key Takeaways
Key players operating in the Mangosteen are Olam International, A.P. Moller-Maersk, The Spice House, KSP Spices, McCormick & Company, Inc., T. Hasegawa Co., Ltd., A. J. Walter Aviation Ltd., Starwest Botanicals, Inc., Frontier Co-op, Badia Spices, Spice Islands, and S&B Foods Inc. Key players dominating the market space are investing heavily in technological advances to enhance productivity and efficiency of mangosteen farming. For instance, Olam International has collaborated with universities and research institutions to develop varieties of mangosteens that offer higher yields.
Mangosteen market demand for mangosteen is across regions due to increasing recognition of its nutritional superiority. The high contents of antioxidants present in mangosteens that support immunity, heart health, brain function, and anti-aging have propelled demand. Moreover, the changing consumer preferences towards exotic and superfood fruits have stimulated sales of mangosteens across retail channels. The Asia Pacific region accounts for the bulk of the worldwide production and consumption of mangosteens.
The global mangosteen market is anticipated to witness a period of expansion in the coming years on account of rising health and wellness trend. Numerous producers are eyeing profitable growth opportunities in Brazil, Mexico, Southeast Asia, and China due to availability of suitable agro-climatic conditions. Moreover, growing numbers of imports and exports between countries indicate stagnating demand from non-traditional regions. Transition toward organic mangosteen crops is expected to further bolster revenue streams for market players going forwards.
Market key trends
One of the major trends fueling expansion of the mangosteen market is the surging popularity of superfruit dietary supplements and beverages. These value-added processed products enriched with mangosteen extracts are high in demand from health-conscious consumers. Various beverage manufacturers are innovating new product lines infused with mangosteen juice considering its refreshing taste and antioxidant properties. Moreover, the adoption of innovative technologies like gamma irradiation is allowing year-round availability of mangosteens while keeping them fresh for longer duration. This is supporting strong growth of the frozen and canned mangosteen segments.
Porter's Analysis
Threat of new entrants: New entrants face high costs and investments to cultivate mangosteen and build branding in the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like citrus and berries.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to supply constraints as mangosteen is only grown in specific climatic conditions.
Threat of new substitutes: Substitutes like citrus fruits and berries pose threat as they can be used in similar applications as mangosteen.
Competitive rivalry: Competition is moderate to high as established players compete on the basis of brand, quality and supply consistency.
Geographical regions
The Asia Pacific region accounted for the largest share in the global mangosteen market in terms of value in 2021. Countries like Thailand, Vietnam and Indonesia have ideal climatic conditions for mangosteen cultivation. According to data, Thailand is the largest producer and exporter of mangosteen in the world.
The North America region is expected to grow at the fastest CAGR from 2024 to 2031. The increasing awareness about the health benefits of mangosteen along with the growing demand for exotic fruits in the US and Canada is supporting the growth of the market in the region. Moreover, the growing Asian immigrant population is influencing the exposure to Southeast Asian fruits like mangosteen in the region.
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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