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The papaya market size is estimated to grow at a CAGR of 3.61% between 2022 and 2027. The market size is forecast to increase by 2,852.59 thousand tons. The growth of the market depends on several factors, including the increased consumption of fruits to maintain a healthier diet, the growing demand for papaya pulp, and the growing demand for papaya in key markets.
This papaya market report extensively covers market segmentation by application (pharmaceutical and healthcare, cosmetics, and others), distribution channel (offline and online), and geography (APAC, Middle East and Africa, South America, North America, and Europe). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for papaya pulp is notably driving the market growth, although factors such as the high dependence on weather conditions may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing demand for papaya pulp is the key factor driving the growth of the global papaya market. The growing popularity of flavored beverages and changing consumer preferences for fruits and ready-to-eat foods have increased the demand for papaya extract in the food industry. The papaya's soft, fleshy pulp is consumed either raw or cooked. The papaya pulp is processed or sieved to create papaya puree, a thick liquid. It can be consumed as a beverage or used as an ingredient in recipes. Papaya pulp is a common ingredient in a variety of beverages, including smoothies, fruit juices, and cocktails. It enhances the nutritional value of the drink and gives it a unique taste and texture.
In infant food products such as baby food, toddler food, and junior food, papaya puree is a common ingredient. It supplies infants with vital nutrients and aids in the development of their immune systems. Papaya pulp is a common ingredient in baked goods and snacks such as pizza, pastries, cookies, bread, cakes, and chocolates. It gives bakery and snacks product a sweet and tangy flavor. Ice creams and yogurt products such as frozen yogurt, sherbet, and sorbet use papaya pulp as an ingredient. It enhances the nutritional value of these dairy products while also giving them a distinctive flavor. Thus, the growing demand for papaya pulp is one of the major factors which is expected to drive the growth of the global papaya market during the forecast period.
Growing demand for organic fruits is the primary trend in the enterprise indoor global papaya market. The busy lives of today's consumers demand easy-to-handle and convenient foods. Fruit grown without the use of pesticides and chemicals is also in demand. Consumers tend to buy nutritious, high-quality organic fruits. Several vendors are working to understand the growing need for nutritious foods and are developing new varieties of organic fruit. It is becoming more and more popular around the world because it is produced without the use of substances, or genetic engineering.
Organic agriculture is preferable to chemical-based agriculture since it preserves soil health and protects the environment. Organic farming improves soil nutrients, resulting in high-quality agricultural products grown in such soils. Organic fruits offer an ideal solution for consumers who are seeking healthy food products made from flavorful and organic ingredients. Organic fruits contain various minerals, vitamins, omega-3, and some antioxidant properties. Therefore, the rise in the demand for organic fruits will drive the growth of the global papaya market during the forecast period.
High dependence on weather conditions is a major challenge to the growth of the global papaya market. Bad weather hinders the production of agricultural products such as papaya. Fluctuations in weather conditions adversely affect papaya production as it requires specific climatic conditions. Natural disasters such as heavy rains, floods, tropical storms, and droughts can affect apple production, posing a major threat to the growth of the global papaya market. Natural disasters lead to the destruction of irrigation systems and crop failures. Climate change and weather conditions can affect yield and quality.
Climatic conditions are changing globally, with severe droughts and floods in different parts of the world. Weather conditions in the past few years have severely affected papaya production in India. Papaya growers in India are incurring major crop and profit losses due to climatic changes. As a result of the intense and extreme weather conditions, papaya harvests are getting wiped out entirely. Thus, a decrease in the production of papaya due to natural calamities, such as drought and floods, and adverse weather conditions can negatively impact the global papaya market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Papaya Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
ABC Fruits: The company offers papaya solutions such as IQF papaya dice. Also, the company focuses on manufacturing, supplying, and exporting fruit pulps and concentrates.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the pharmaceutical and healthcare segment will be significant during the forecast period. The use of papaya in the pharmaceutical and healthcare sector is expected to increase during the forecast period owing to the health benefits associated with the consumption of papaya. Various parts of papaya, such as the leaves, fruit, seed, flower, and root, are used to make medicine. Papaya is taken orally to prevent cancer, diabetes, a viral infection called human papillomavirus (HPV), dengue fever, and other conditions. The fruit has been used as medicine in various forms, both ripe and unripe forms.
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The pharmaceutical and healthcare segment was valued at 4,483.63 thousand t in 2017 and continued to grow until 2021. Papaya extract has been shown to be beneficial in treating conditions such as asthma, heart disease, and digestive disorders and may help control glucose levels in the body. Usage is expected to increase during the forecast period. For instance, Micro Labs Ltd., a Bangalore-based pharmaceutical company, has launched its product Caripill, which is made from papaya extracts. The product will help increase the platelet count in people with dengue.
Moreover, papaya extracts are used in skincare products such as face wash, scrubs, and masks. Papaya extracts can help reduce skin break out issues and are used by several skincare product manufacturers as an ingredient in their products. Such factors will increase the segment's growth during the forecast period.
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APAC is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Domestic demand for papaya is strong in India due to its sizeable population, significant increase in per capita income, and growing interest in healthier foods. Recent gains in global papaya production are mainly the result of India's significant increase in harvested area and fruit yield. Even though the country is the largest producer of papayas, the production caters to domestic demand, as the country's share in the total global export value of papaya was 0.96% in 2020 (the country exported 7,346 tons of papaya in 2020). Countries like Malaysia and China, on the other hand, exported 22,487 tons of papaya and 10,912 tons of papaya in 2020, respectively. These exports from APAC are made to countries in North America, such as the US, which imported 177,933 tons of papaya in 2020 and has the largest global share in papaya imports. Such factors will increase the market growth in this region during the forecast period.
The papaya market in APAC was adversely affected by the COVID-19 pandemic during the first half of 2020, which forced many countries in the region, such as India, China, and Malaysia, to impose strict restrictions and lockdowns. However, in 2021, the availability of vaccines and the vaccination drives carried out by the governments of countries in APAC, the pandemic is now under control in the region. With the economy getting stronger, the papaya market in APAC has been recovering, and the demand for papayas will increase during the forecast period.
The papaya market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global papaya market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats products market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Papaya Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.61% |
Market growth 2023-2027 |
2,852.59 thousand t |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
3.01 |
Regional analysis |
APAC, Middle East and Africa, South America, North America, and Europe |
Performing market contribution |
APAC at 46% |
Key countries |
Mexico, India, Indonesia, Dominican Republic, and Brazil |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABC Fruits, Brooks Tropicals LLC, Calavo Growers Inc., Galla Foods, Harvest Fresh Farms, Riverford Organic Farmers Ltd., RK Growers Srl, and Super Starr International |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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