Pineapple Market Size, Share & Industry Trends | Report 2030

Report Description

The global pineapple market size was valued at USD 24,088.4 Mn in 2020 and is projected to reach USD 36,809.1 Mn by 2028, expanding at a CAGR of 5.7% during the forecast period, 2021-2028. The pineapple market has immense opportunities owing to the rise in demand for the product and increases in awareness in consumers along with growth in investments from private investors and companies.

The pineapple (Ananas comosus) is a tropical plant in the Bromeliaceae family that produces edible fruit. It is thought that the pineapple originated in Brazil. It spread from Brazil to other tropical parts of the world. The name ananas is derived from the Indian term nana. The wild Brazilian pineapple is likely to be its ancestor (Ananas microstates Lindle).

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Pineapple Market Macro-Economic Factor

Consumption pattern: Consumption patterns is the expenditure patterns of income groups within or across categories of products, such as clothing, discretionary items, and food. These pattern includes a process by which consumers search, purchase and consume produces.

Consumption pattern: Consumption patterns is the expenditure patterns of income groups within or across categories of products, such as clothing, discretionary items, and food. These pattern includes a process by which consumers search, purchase and consume produces.

Pineapple Market Dynamics

Drivers

Growing demand for frozen pineapples

Growing demand for frozen pineapples around the world as a consequence of increased consumer awareness of various frozen fruits is expected to propel the global frozen pineapple market. Increasing number of working people around the world, as well as a hectic lifestyle, are factors that are expected to promote the growth of the global frozen pineapple market during the forecast period.

Improvements in logistic and packaging by developing methods to use air temperature for highest shelf-life and to prevent them from damage, cuts, abrasions, bruising, and crushing, is projected to drive for market players to increase their production and improve supply chain during the forecast period.

Increasing demand for product made from organic pineapples

The increase in demand is mostly due to an increase in demand for organic pineapple fruits. Usage of organic fresh produce in processing increased as a result of lifestyle changes in many emerging countries. A work-focused existence with little time for one's personal self is becoming the norm. This fast-paced lifestyle considers how little time people have to have a nutritious supper.

As a result, consumers are interested in ready-to-eat processed foods. It is currently one of the most important necessities in today's fast-paced society. Diced organic pineapples, pineapple pulp and juice, and instant dehydrated powder form of organic pineapples are highly demanded by consumers.

Restraints

The nutritional value and overall quality of fresh produce and processed meals that reach customers are significantly reduced. These losses are particularly severe in many parts of the world, including underdeveloped countries, due to lack of modern storage and processing facilities. Endogenous variables have a significant impact on the ripening, senescence, and degradation of fruits.

Damages caused to fresh fruits and products lead to increased water loss and postharvest decay. Punctures, cuts, abrasions, bruising, and crushing cause substantial quality losses. Loss of fruit quality during postharvest handling is the result of physiological breakdown, decay, and dehydration. Quality loss during postharvest handling is projected to hamper the market during the forecast period.

Opportunities

Vacuum frying is a technology where food products are deep fried under vacuum or near vacuum conditions to reduce the fat content as compared to normal deep frying. Vacuum frying is frying process under a vacuum condition to prevent material object deterioration due to excessive heat caused by high temperature. It is a process that produces healthy fruit snacks (pineapple chips), which partially preserve the original color and nutritional compounds of the fruit and have high hydrophilic antioxidant capacity.

Pineapple can increase energy, which in turn, is driving the demand for pineapple. Growing use of pineapple in healthy snacks is projected to boost the fresh pineapple market growth.

Pineapple Market Segment Insights

On the basis of type, the global pineapple market is bifurcated into fresh and packaged. The packaged segment further bifurcated into shelf stable and frozen. The fresh segment held 82.0% share of the market in 2020 owing to the increasing consumption of natural fruit. The packaged segment is anticipated to expand at a significant rate during the forecast period owing to its affordable and convenient.

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In terms of Varieties, the Pineapple market is segmented into Cayenne Pineapple, Queen Pineapple, Red Spanish Pineapple, and MD2/MG3. The MD2/MG3 segment is expected to dominate the market during the forecast period, as it has longer shelf life. Over the forecast period, the demand for Cayenne pineapple is expected to increase, as it mostly used in processing for packaging.

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On the basis of application, the market is classified as business-to-business (Commercial) and business-to-consumers (Individual). The business-to-business (Commercial) segment is further divided into, bakery & snacks, beverages and drinks, and others. The Commercial segment accounted for significant share of the market in 2020 and is expected to expand at a considerable CAGR during the forecast period, owing to the rising occurrence of health problems associated with food products, increasing vegan and flexitarian population, and high consumer preference for functional food.

Based on distribution channels, global pineapple market is classified as hypermarkets/supermarkets, independent retailer, convenience store, and online sales and others.

The hypermarkets/supermarket segment accounted for significant share of the market in 2020 and is expected to expand at a substantial CAGR during the forecast period. The online sales segment is anticipated to expand at a significant CAGR during the forecast period owing to increasing online shopping to avoid crowded places and physical contact.

Pineapple Market Regional Outlook

Based on regions, the Pineapple market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. LATAM is a promising region of the market. The region constituted 27.9% share in 2020. The market in this region is expected to grow due to increasing awareness regarding health among consumers. The market in the Middle East & Africa (MEA) is projected to expand at a CAGR of 6.4% during the forecast period owing to the increasing trend of healthy snacking.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Pineapple Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Pineapple Market Performance