The Global Mango Market Dynamics and Growth Creating Opportunities

Published Jun 21, 2024
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The global mango industry is experiencing robust growth, driven by increasing disposable incomes, expanding export capabilities, and technological advancements. Projected to grow from USD 63.65 billion in 2023 to USD 89.55 billion by 2028, the market benefits from rising demand in regions like North America and Europe, supported by improved logistics and refrigeration. Consumer preferences for healthy, tropical fruits are boosting mango popularity, alongside culinary versatility and health benefits. Importers and exporters can capitalize on these trends through quality control measures, market diversification, and digital platforms to meet global demand effectively.

Industry Overview

Mangoes have seen rising popularity and demand globally over the years, and the global market size is expected to see strong gains, increasing from USD 63.65 billion in 2023 to USD 67.91 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%, and further growing by a CAGR of 7.1% to USD 89.34 billion by 2028.

Figure 1. Global Mango Market Size Growth Projection

Source:RMResearch and Markets

Mango is a tropical fruit that peaks in popularity during the summer. Seasonality impacts demand, with harvests from March to July in India and Pakistan, April to September in Mexico, and November to April in the Southern Hemisphere. Advances in logistics and refrigeration enable year-round availability, though prices are lower during peak seasons and higher off-season due to import costs.

Production has significantly increased in tropical and subtropical regions. For the 2023/24 season, the global landscape of mango production will be led by India, which will solidify its dominance with a staggering 25 million metric tons (mmt), far surpassing other major producers. Following India, the next largest mango-producing countries will include China with 3.8 mmt, Indonesia with 3.6 mmt, Pakistan with 2.7 mmt, and Mexico with 2.4 mmt. These countries, along with Brazil, Malawi, Thailand, Bangladesh, and Vietnam, form the top ten mango producers worldwide, highlighting the tropical and subtropical regions' prominence in mango cultivation. This significant production volume reflects the growing global demand for mangoes.

Figure 2. Top Mango Producers (2023/24 Forecast)

Source:Adda247

Industry Trends

The mango industry is experiencing several key trends that are driving its growth and shaping its future, including:

Export Growth: The availability of mangoes in global markets has significantly increased due to improved export capabilities and international trade agreements. This surge has satisfied the rising demand in regions like North America and Europe, where mangoes are increasingly valued for their unique flavor and nutritional benefits.

Technological Advancements: Advances in agricultural practices, storage, and transportation technologies have been crucial in reducing post-harvest losses and extending the shelf life of mangoes. These improvements ensure year-round availability, meeting the constant demand from consumers worldwide.

Rising Disposable Incomes: Higher disposable incomes, particularly in developing countries, have led to increased consumption of premium fruits like mangoes. As more consumers can afford these high-value fruits, the demand for mangoes continues to grow, supporting market expansion.

Consumer Preferences: There is a growing trend toward tropical and exotic fruits, with mangoes becoming a standout favorite. The increasing popularity of mango-flavored products, such as smoothies, juices, and desserts, has further fueled demand. Consumers are drawn to the sweet and refreshing taste of mangoes, making them popular in various forms.

Health and Nutritional Benefits: Greater awareness of the health benefits of mangoes has appealed to health-conscious consumers. Rich in vitamins, antioxidants, and fiber, mangoes are a nutritious addition to the diet. This health appeal is a major factor in the rising consumption of mangoes.

Plant-Based Food Trends: The rise of plant-based diets and the trend toward natural and organic food products have boosted the demand for fresh fruits, including mangoes. Consumers seeking healthier and more sustainable food options are increasingly turning to mangoes as a tasty and nutritious choice.

Culinary Uses: Mangoes' versatility in various culinary applications has broadened their appeal across different cultures and cuisines. From traditional dishes to contemporary fusion cuisine, mangoes are used in a wide range of recipes, enhancing their popularity and demand.

Key Takeaways

The global mango industry is poised for substantial growth, driven by a combination of rising disposable incomes, enhanced export capabilities, consumer preferences, and technological advancements. With the market size expected to grow from USD 63.65 billion in 2023 to USD 89.55 billion by 2028, the opportunities for both importers and exporters are abundant.

Exporters should implement stringent quality control measures to meet international standards, including proper grading, packing, and ensuring the organic characteristics of the mangoes. Expanding into emerging markets in Asia, Africa, and Latin America, where the demand for mangoes is increasing, is also essential. Building relationships with local distributors and understanding regional consumer preferences will be crucial. Investing in new processing technologies such as edible coatings and multi-purpose processing machines can improve the shelf life and quality of mangoes, making them more appealing to international buyers. Engaging in strategic partnerships with other companies can help strengthen market positions and expand distribution networks. Collaborations can enhance the ability to meet the growing global demand efficiently.

On the other hand, importers and retailers should diversify their sourcing regions to ensure a steady supply throughout the year, taking advantage of different harvest seasons in regions like India, Mexico, and the Southern Hemisphere. Utilizing e-commerce platforms to reach a broader consumer base is crucial. Products must meet high-quality standards and be marketed effectively to appeal to health-conscious consumers. Highlighting the nutritional and health benefits of mangoes in marketing campaigns can attract health-conscious consumers and capitalize on the growing trend towards plant-based and organic foods.

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