The grapefruit market in Vietnam has shown significant growth from 2014 to 2023, with a consistent upward trend observed. In 2023, the market stood at 698.0 thousand metric tons, marking a year-on-year increase of 2.05%. One of the notable growth periods was from 2016 to 2018, with year-on-year increases reaching up to 20.7%. However, a slight decline occurred in 2019, with a -3.19% change. Over the last five years, the market has seen an average annual growth rate (CAGR) of 1.16%. Moving forward, the forecasted CAGR from 2024 to 2028 is 1.47%, culminating in a projected market size of 767.0 thousand metric tons in 2028.
Future trends to watch for include:
- Technology-driven improvements in grapefruit farming techniques.
- Rising consumer awareness of the health benefits of grapefruit.
- Potential trade policies affecting grapefruit imports and exports.
- Fluctuations in global demand impacting local market dynamics.
