Grapefruit is a citrus fruit that has a sour to semi-sweet flavor. It is a citrus hybrid, the consequence of an unintentional cross between two citrus species, pomelo, and sweet orange. It has a water content of 92 percent, making it one of the fruits with the greatest water content. The grapefruit market is being fueled primarily by rising consumer awareness of the many health advantages associated with grapefruit intake. Increased demand for grapefruit from end-use sectors such as food and beverages, among others, is likely to drive grapefruit market growth over the projected period. Furthermore, rising health consciousness and consumer expenditure are likely to drive market expansion. For example, according to the Centers for Medicare & Medicaid Services (CMS), healthcare expenditures in the United States grew by 4.6 percent in 2018 compared to 2017. According to The Institute of Food Technologists, In February 2020, global sales of naturally healthy foods surpassed $259 billion. However, Grapefruit consumption is subject to strict government regulatory rules, and grapefruit might create health problems when used with some cholesterol-lowering medicines hamper the growth of the market over the forecast period of 2021-2027. Also, leading companies are focused on new product releases including grapefruit extracts, and the growing use of grapefruit in the production of nutraceuticals is likely to increase the market growth during the forecast period.
Global Grapefruit Market is valued at approximately USD 8.48 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 3.75 % over the forecast period 2021-2027 and is estimated to reach USD 10.97 billion by 2027.
The regional analysis of the global market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the significant region across the world in terms of market share owing to the growing consumption of healthy food and beverages, adoption of a healthy lifestyle, and rapid urbanization. Whereas, Asia-Pacific is also expected to exhibit fast growth over the forecast period 2021-2027. Factors such as rising disposable income, growing food & beverages industry, changing lifestyle, and shift towards natural and healthy products would create lucrative growth prospects for the market across the Asia-Pacific region.
Major market players included in this report are Mountain Rose Herbs, Bontoux SAS, Citrus and Allied Essences Ltd, doTERRA International LLC, Eckes Granini Group, Hyatt Fruit Company, IMG Citrus, Lionel Hitchen Limited, Symrise AG, and Young Living Essential Oils.
The detailed segments and sub-segment of the market are explained below:
By Variety: Red/ Pink, White
By Consumption: Direct Intake, Grapefruit Oil Processing, Grapefruit Juice Production, Grapefruit Extracts Production, Others
By Distribution Channel: Business to Business, Business to Consumers, Others
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