HONG KONG, July 27, 2023 /PRNewswire/ — Agroforestry Group announced today a remarkable surge in business across North America, Europe, and Africa. This growth is propelled by the resurgence of international travel, mounting consumer interest, and businesses seeking innovative selling propositions.
Prior to the COVID-19 pandemic, the demand for durian primarily originated from the Asia-Pacific region. Domestically, Malaysia led the way, followed by Singapore, Hong Kong, and China. While these countries remain crucial markets for the company, Agroforestry Group has witnessed a surge of inquiries from new markets, indicating a significant expansion in interest.
Mr. Paul Martin, Managing Director of Agroforestry Group, stated, “The surge in enquiries from new markets, particularly North America, Europe and Africa, has been staggering. The unexpected volume of interest from these regions was almost non-existent before the pandemic.”
The resurgence of international travel has played a significant role in opening up new markets for durian. Tourists visiting Asia inevitably encounter durian in various forms, as durian products are widely available throughout the region, both in Malaysia and other countries. Notably, The United Nations World Tourism Agency (UNWTO) reports a remarkable 200% year-on-year surge in international tourism, with travel figures reaching 80% of pre-pandemic levels in Q1 2023.
The post-pandemic shift in consumer and business sentiment in new markets has emerged as a significant driving force. Consumers have become more curious and adventurous, eager to explore diverse products and experiences. In response, businesses are strategically catering to this evolving consumer landscape, offering unique and innovative products. As a result, durian has been gaining traction internationally, with F&B companies introducing it in North America, Europe, and even Africa.
Mr. Martin emphasized, “The heightened international exposure of durian has significantly benefited both Agroforestry Group and Malaysia as a whole. Among all the durian varieties, Musang King stands out as Malaysia’s premium choice, undoubtedly the most alluring durian for global consumption.”
About Agroforestry Group
Established in 2015, Agroforestry Group have applied their thirty years of private forestry management into the establishment and commercial development of durian and agarwood plantations, product distribution and sales. As an asset class, agriculture and forestry has expanded rapidly over the last decade due to interest from risk-averse private investors attracted by the green credentials of the industry and the long-term high returns of agroforestry.
SOURCE Agroforestry Group