Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Pineapple Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global pineapple market is set for substantial expansion, with projections indicating growth from USD 27.08 billion in 2023 to USD 36.80 billion by 2028, reflecting a noteworthy CAGR of 6.33% during the forecast period (2023-2028).
Key Highlights
- Abundant Opportunities: The pineapple market is teeming with opportunities, propelled by rising consumer demand, increased awareness of health and wellness, and significant investments from private investors and companies.
- Global Producers: In 2021, Costa Rica, Indonesia, and the Philippines emerged as the top three pineapple producers worldwide. These countries cater to both fresh fruit markets and the processing industry. Pineapple cultivation thrives in tropical regions, with the smooth Cayenne cultivar being extensively cultivated in various countries, including Hawaii, Australia, South Africa, Kenya, and Mexico. Notably, Costa Rica produced a substantial 2.9 million metric tons of pineapples in 2021.
- Asian Dominance: The Asia-Pacific region dominates pineapple production, accounting for 41% of global production in 2021, with a staggering 13 million metric tons. Indonesia led the region with 2.88 million metric tons, followed closely by the Philippines with 2.86 million metric tons and India with 1.7 million metric tons.
- Growing Fresh Fruit Demand: Rising concerns about health and wellness, along with a shift toward vegan diets, have spurred the demand for fresh fruits, particularly in Europe and North America. Pineapple production has surged to meet the requirements of the food processing industry, resulting in 28.6 million metric tons of global pineapple production in 2021.
- Asia-Pacific Imports: Countries with heavy reliance on imports, such as Costa Rica and the Philippines, play a crucial role in meeting the year-round demand for tropical fruits, including pineapples. Costa Rica, for instance, exported USD 1.0 million worth of pineapples globally in 2021, with the United States, Netherlands, Belgium, Spain, and Italy as major importers.
Pineapple Market Trends
- Fresh Pineapple Demand: The increasing demand for fresh fruits, driven by health-conscious consumers in Europe and North America, is a notable trend. Pineapple's versatile use in healthy snacks and its role in the food processing industry have contributed to the growth of the fresh pineapple market.
- Asia-Pacific Dominance: Asia-Pacific stands out as both the largest producer and consumer of pineapples. Indonesia, the Philippines, and India lead the region in production, with China emerging as a significant importer to meet its consumption demands. Pineapple is not only consumed as a fresh fruit but is also increasingly utilized in beverages across the Asian region.
- Nutritional Value and Flavor: Pineapple's tangy flavor and nutritional value make it a sought-after ingredient in food extracts and beverages. The growing popularity of pineapple flavor and its usage in products like pineapple powder, known for its extended shelf life, are expected to further drive market growth in the food and beverage and pharmaceutical sectors.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5 MARKET SEGMENTATION (Production Analysis (Volume), Consumption Analysis (Volume and Value), Import Market Analysis (Volume and Value),Export Market Analysis (Value and Volume), and Price Trend Analysis
5.1 Geography
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/7zrpm5
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