Jackfruit Market Analysis

Mainly grown in tropical areas, jackfruit is native to western ghats of India and Sri Lanka. However, its also grown in Philippines, Malaysia, and Indonesia. Jackfruit is the largest of all tree born fruits in the world. It can be eaten raw of cooked in various recipes. Jackfruit can weight up to as high as 20 kilograms. It is also termed as veg meat. Jackfruit is a rich source of vitamins, minerals and phytochemicals.

Global jackfruit market has generated revenue of over USD 297.77 million in 2021. It is expected to exhibit CAGR of over 3.42% during the forecast period to reach over USD 382.48 million by the end of 2028. While, cumulative growth opportunity offered by the global jackfruit market stood above USD 2,250 million for the analysis period ranging between 2022 to 2028. Global jackfruit consumption in 2021 was record at around 600 kilo tons.      

Interesting Facts about Jackfruit Industry

• Jackfruit is tropical fruit mainly growth in South and Southeast Asia
• Jackfruit is national fruit of Bangladesh and Sri Lanka
• Jackfruit is growing in its popularity as a meat substitute
• Jackfruit is rich source of vitamin, mineral and phytochemicals
• Jackfruit is largest tree born fruit in the world which can weigh up to 40 pounds

Strong Demand as a Meat Substitute

Owing its stringy and tender texture, jackfruit pulp resembles that of shredded chicken and pork. Moreover, it has neutral or slightly sweet flavour and hence it has ability to take on the flavours of seasoning or sauces applied to it. Hence, jackfruit is growing as a meat alternative. Secondly, its mineral, vitamin and phytochemical rich pulp making it increasingly being adopted in diet for health benefits.

Secondly, go vegan trend is one the rise around the world. Although currently just one percent of world population is vegan the number of vegan populations is rising across the globe. 

Golden Nugget to Dominated the Demand

Golden Nugget, Cheena, Golden Pillow, Tabouey, Black Gold, Cochin and Others are major species of jackfruits are being grown and consumed across the world. Golden Nugget species of jackfruit is widely grown and consumed in the world and held over 25% share in total revenue generation in 2021. Cheena and Golden Pillow are also expected to increase in its revenue share over the forecast period.

Health Benefits of Jackfruit

Growing demand for healthy fruits is another reason behind the growth of global jackfruits market. Jackfruit offers many health benefits such as healthy digestion. It contains vitamin c, pyridoxine, niacin, riboflavin, folic acid, calcium, magnesium, potassium, phosphorus, etc. Fibre, potassium and antioxidants in combination offer good heart health. Jackfruit is being used as a medicine from ancient time. Its long been used in the treatment as antimicrobial and antifungal. However, scientifically none of the above claims are proved and supported. However, people with chronic or acute kidney diseases should avoid consumption of jackfruit either raw or in cooked form. Moreover, excess consumption can result into build-up of potassium ends up into weakness, paralysis, and heart attack. This in turn arresting the growth of global jackfruit market. Moreover, changing climate also one of the major factor in fluctuation in harvesting of jackfruit.   

Fresh Consumption Segment Held the Largest Share

Fresh Consumption, Beverages, Confectionery, Aroma, and Others are some of the major applications of jackfruit. Fresh consumption accounted for over 40% share in total revenue generation of jackfruit market in 2021. However, jackfruit is growing in popularity to be used as a flavouring or aromatic agent in various food & beverages. Increasing demand canned food and fruits also fuelling the growth rate of global jackfruit market. 

Asia Pacific to Dominate the Demand

Global Jackfruit market is mainly driven by the strong demand from South and Southeast Asia. Almost over 60% of the jackfruits are growing in this region. Jackfruit is widely being used in local cuisine in South and Southeast Asia. India, Bangladesh, Sri Lanka, Indonesia, Philippine, Malaysia, etc. are major consuming countries in the world. There is little or no impact of Russia – Ukraine war on jackfruit industry as none of these countries are major producer or consumer. North America and Europe are also expected to witness moderate growth in demand for jackfruit. 

Large number of Players in Global Jackfruit Market

Anna Food Product, Artocarpus Foods Pvt. Ltd., Frubites, Island Valley Delights, Jackfruit365, Madam Sun, Mother Dairy Fruit Vegetable Pvt. Ltd, Natureloc, Nutty Yogi and The Jackfruit Company are some of the key players operating in the global jackfruit market. Increasing processed food demand, growing consumption of canned fruits and food, rise in demand from beverage industry is mainly driving the demand for jackfruit.