Kiwi Fruit Market - Growth, Trends, and Forecast (2023 - 2028)

Kiwi Fruit Market - Growth, Trends, and Forecast (2023 - 2028)

Key Highlights

• The kiwi market is projected to register a CAGR of 5.8% during the forecast period.
• Kiwifruit is available year-round. It is enriched with vital nutrients, such as vitamin E, copper, vitamin K, choline, magnesium, and phosphorus. The antioxidant properties of kiwi fruit make it an exotic fruit and a natural remedy for all respiratory issues. Along with this, the fruit is an excellent source of vitamin C which helps to fight cancer boosts the immune system, and prevents many diseases. Furthermore, the U.S. Food and Drug Administration approved the nutrient content of kiwi fruit as low-fat, saturated fat-free, sodium-free, cholesterol-free, high in fiber, high in vitamin C, a good source of vitamin E, and a good source of potassium. The growing awareness of health benefits among the population boosted the demand for kiwi.
• Along with this, kiwi fruit can be used and consumed by including them in salads, cakes, beverages, etc. There is an increased application of fruit in the food and beverage industry which increased the market for kiwi fruit. Additionally, the increased demand in major markets, a booming fruit juice industry, and increasing health consciousness is driving the market’s growth. On the other hand, trade barriers related to exports and high prices of fruit in major markets restrained the market.
• The demand has increased globally, especially in the Far East. China is the leading producer, with imports increasing and reaching 121,940 metric ton in 2021 which was valued at 550,482 USD thousand. Thus, the increased imports in the far eastern countries are driving the market's growth.

The demand for kiwi is gaining traction among consumers worldwide, strengthened by consumers’ growing concern for health and wellness. Compared to other fruits, kiwis are naturally lower in sugar and higher in fiber. Therefore, this fruit is witnessing immense demand from global consumers, especially in United States and Europe. The higher-income groups in these regions are even willing to pay additional amounts to safeguard their health conditions driving them to increase in consumption. Kiwis are high in vitamin C and dietary fiber. One serving of kiwi fruit provides 117% of the daily vitamin C intake and 21% of dietary fiber. The vitamin C content in kiwifruit is twice that of oranges or lemons. This tart fruit can support heart health, digestive health, and immunity. Thus, the increased benefits of this fruit lead to more consumption.

Furthermore, consumers are inclined toward nutritional products, and the companies consider this as a potential strategy to grow their clientele. For this, companies are launching new products with kiwi fruit as a major ingredient which has stimulated the demand to a wide extent. Additionally, some of the major businesses are supplying fresh kiwi fruits with attractive packaging which is attracting customers and thereby, increasing consumption.

Moreover, the increased application of kiwi fruit in the food and beverage industry is pushing the demand for consumption. The production is increasing to meet the demand. The production of kiwi increased by 9.3% from 2017 to 2020 which is from 4 million ton in 2017 to 4.4 million tons in 2020. Also, the area harvested under kiwi increased by 6.8%, accounting for 270 thousand ha in 2020. Due to the increasing demand, production is also anticipated to grow further during the forecast period.

Kiwi fruit originated in China. In terms of production and consumption, China dominates the market. The tropical climatic conditions across the country favor kiwi fruit production. According to the Food and Agriculture Organization, kiwi production in the country accounted for 2,230.01 thousand metric ton in 2020, which is 256 times more than the production in the second-largest producing country. The area harvested under kiwi fruit increased to 184,554 ha in 2020 from 182,566 ha in 2019. China is experiencing a rise in kiwi fruit demand due to its health benefits and premium status. The huge market for kiwi fruit is enabling some well-known companies to invest totally in the kiwi fruit business. For instance, DUnited Kingdomang Distillers is a firm that is involved in making and selling baijiu previously. But, in 2021, the company changed its name to China Shenshen, stopped its operations of baijiu, and started its business in the kiwi sector. This type of development also boosted kiwi fruit sales.

Additionally, according to a kiwifruit specialist in Shenzhen, China is the world's largest consumer of kiwifruit, accounting for 2.2 million ton and 57% of total global consumption. China has a large consumer base and is responsible for more than half of the total revenue generation in the market for kiwi fruit. It is considered a major producing and exporting country, contributing to an increased supply of kiwifruit on the world market.

Despite being the largest producer, the demand is also met through imports. In 2020, 116,864 metric ton was imported, valued at USD 450,424 thousand. New Zealand is the major exporter, accounting for 89.7% of total import value. China accounts for 22% of the total kiwi fruit exports in New Zealand. The growing consumption among the population increases the demand for kiwi fruit in China, and the growth is anticipated to continue during the forecast period, making it the fastest-growing market.

• The market estimate (ME) sheet in Excel format
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