Global Lychee Market (2020 to 2025) - Growth, Trends, and Forecast - ResearchAndMarkets.com
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“Lychee Market - Growth, Trends, and Forecast (2020 - 2025)”
The global lychee market is projected to witness a CAGR 3.5% during the forecast period (2020-2025).
China, India, and Vietnam are the major producers of lychee in the globe. According to the International Society for Horticultural Science (ISHS), China ranked first with a production volume of 2,000.0 thousand metric tons, followed by India and Vietnam with 677.0 thousand metric tons and 380.0 metric tons, respectively; in 2018. Vietnam has become the second-largest exporter of lychee despite its smaller output when compared to China and India. This is majorly due to favorable climatic conditions and seed quality, which has led to better fruit quality resulting in an increase in imports. Around 98-99% of the lychee produced in India is domestically consumed.
Key Market Trends
Increasing exports from Asian Countries
China and Vietnam are the two major exporters of lychee. According to the International Society for Horticultural Science (ISHS), Southeast Asian countries accounted for 19% of the global lychee market in 2018. China is a major producer and an exporter who accounted for a major market share of lychee exports from China. According to Litchi Cooperative, Guangdong, the cooperative has exported lychee valuing around USD 10.0 billion in 2018.
The United States, Canada, and Europe are the major importers of Lychee which accounted for 80% of China's lychee export market in 2018. Vietnam was the second-largest exporter of lychees during 2018. The major reason for the increase in exports of lychee is the increasing demand for Vietnam's lychee due to the better fruit quality when compared to India and China, the largest lychee producers in Asia during the same period.
Increasing Lychee Production in India
Lychee occupies a prominent place in the fruit platter of Indian households. This increase in demand has led to an increase in lychee production in the country. According to AGRICOOP, the production of lychee was 568.0 thousand metric tons in 2016, which has increased by 20.8% and reached 686.0 thousand metric tons in 2017. National Research Centre on Litchi (NRCL), has developed few lychee varieties that are suitable for agro-regions of South India such as Tamil Nadu and Andhra Pradesh. Bihar, Jharkhand, Chattisgarh, and Assam are the major lychee producing states in the country. Bihar accounted for 62.1% of the total country's production, followed by Jharkhand, Chattisgarh, and Assam, respectively; in 2017. Shahi litchi is one of the most cultivated varieties of litchi in the major litchi producing state in India.
