The mangosteen market has been gaining significant traction over the recent past owing to increasing demand for nutritional and dietary supplements. Mangosteen is native to Southeast Asia and is widely cultivated in Thailand. It is often referred to as the 'queen of fruits' due to its rich nutrient profile and aromatic taste. The fruit offers a wide range of health benefits such as antioxidant, anti-inflammatory and antimicrobial properties which help support overall well-being. It helps boost immunity, protect cells from damage and reduce the risk of chronic diseases like heart disease and cancer. The expanding pharmaceutical industry has also been utilizing mangosteen extracts in various medicinal formulations due to its therapeutic qualities. With growing health awareness, consumers are increasingly preferring foods and beverages with medicinal properties and health claims. This is expected to drive the demand for mangosteen and related products in the coming years.
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 market 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. The key players are focused on strategic partnerships and new product launches to expand their market share.
The Asian countries, especially Thailand, Vietnam and Indonesia, provide significant growth opportunities due to ability to cultivate mangosteen on a large scale. mangosteen market demand from western countries, the producers are increasing investments in agriculture to boost production volumes.
The manufacturers are enhancing their global footprint through trade agreements and collaborations with key importers across North America and European nations. New formulations involving mangosteen extracts are gaining popularity owing to associated health claims. This is helping drive broader market penetration.
Market drivers
Rising health consciousness among consumers is one of the major drivers for the mangosteen market. Research studies validating the various medicinal properties of mangosteen supplement are increasing its demand globally. The proliferating retail landscape with supermarkets offering unique foreign fruits is also propelling the market growth. Furthermore, growth of medicinal plant-derived products industry will continue spurring market expansion over the forecast period.
PEST Analysis
Political: The mangosteen market is subject to regulations on pesticide use and food safety laws. New regulations can impact farming practices and exports.
Economic: The global economy and consumer spending directly impact demand for mangosteen products. Economic downturns may negatively affect sales of luxury items like mangosteen products.
Social: Consumer preference for exotic, novelty fruits is driving demand for mangosteen products. Increased awareness of its antioxidant properties is also boosting demand for mangosteen supplements.
Technological: Developments in farming techniques, supply chain management and food processing help improve yields and lower costs. Better storage and transport solutions aid international trade of mangosteens.
Geographical Regions
The Asia Pacific region accounts for a major share of the global mangosteen market value-wise, driven by countries like Thailand, Malaysia, and Indonesia where the fruit is indigenous. Being the top producer, consumer and exporter, Thailand dominates the Asian mangosteen market.
The mangosteen market is projected to witness the highest growth in the North America region over the forecast period. Rising health consciousness among consumers and increasing adoption of exotic fruits are supporting the demand growth. The number of suppliers and product ranges are expanding in the region to cater to this demand.
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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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