Segments - Pineapple Market by Source (Organic and Conventional), By Types (Fresh and Packaged (Shelf-Stable and Frozen)), By Varieties (Cayenne Pineapple, Queen Pineapple, Red Spanish Pineapple, MD2/MG3, and Others), By Application (Commercial (Beverages & Drinks, Bakery & Snacks, and Others) and Individual), By Distribution Channels (Supermarkets/Hypermarkets, Convenience Stores, Independent Retailers, Online Sales, and Others) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
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).
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.
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.
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.
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.
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.
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.
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.
Top players in the market include SOL SIMPLE LLC, Agricycle Global, Inc., ArdoChiquita Brands International, Sàrl, Fyffes, Earthbound Farm, Hawaiian Crown, Siam Pineapple, V & K Pineapple Canning Co., Ltd, SunOpta, Wawona Frozen Foods, Winz International Ltd, Dole Food Company, Inc., Fresh Del Monte Produce Inc., Del Monte Pacific Limited.
These companies are considered as key manufacturers of Global Pineapple based on their revenue, product offerings and supply chain management system. The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where there is potential opportunity for the Global Pineapple market.
Additional company profiles can be provided on request
According to this Growth Market Reports report, the global pineapple market is likely to register a CAGR of 5.7% during forecast period 2021-2028, with an anticipated valuation of USD 36,809.1 million by the end of the 2028.
In addition to market size (in US$ Million), Company Market Share (in % for base year 2020), Future Opportunities, Recent Developments & Impact Analysis, Regulatory Landscape, Technology Landscape, and quality parameter overview is provided.
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.
The major end-user industries of global pineapple are bakery & snacks, beverages and drinks.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The market is expected to slightly increase in growth between 2019 and 2020 owing to the COVID 19 pandemic on the Global Pineapple market.
The base year considered for the Global Pineapple market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 and 2019 are the historic years, and the forecast is provided from 2021 to 2028.
Factors such as population, consumption pattern, GDP, demand and supply, urbanization, packaged food industry etc. are analyzed in the final report.
Major manufacturers include Agricycle Global, Inc., Ardo, Chiquita Brands International Sàrl, Del Monte Pacific Limited, Dole Food Company, Inc., Earthbound Farm, Fresh Del Monte Produce Inc., Fyffes, Hawaiian Crown, Siam Pineapple, SOL SIMPLE LLC, SunOpta, V & K Pineapple Canning Co., Ltd, Wawona Frozen Foods, and Winz International Ltd.