|Fastest Growing Market:||Asia|
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The pineapple market is projected to register a CAGR of 3% during the forecast period (2022-2027).
Due to the pandemic, pineapple production decreased in terms of production, trade, and consumption compared to the previous year. A huge shortage of sufficient labor, logistics breakdown, and disruptions in the value chain occurred due to lockdowns in many countries.
Over the years, the production of pineapple at a global level has been increasing, with a slight dip in 2020 due to COVID-19. On the other hand, the area under pineapple production has been continuously decreasing since 2018 and was further affected by the pandemic.
The demand for pineapples in Europe has been growing in recent years, and it relies on many tropical countries to meet the demand. Costa Rica and the Philippines are the main exporters of the fruit in the world, while the United States and the Netherlands are the top importers of pineapple.
Scope of the Report
The report on the pineapple market provides key insights into the latest developments in the market. A brief analysis of the recent trends, drivers, and restraints affecting the global market is offered in the report. The study gives an elaborated analysis of production (volume), consumption (value and volume), import (value and volume), export (value and volume), and price trends of the pineapple market in the emerging and established markets in the world, including North America, South America, Asia, Africa, and Oceania.
Key Market Trends
Increasing Demand for Fresh Fruits
The demand for fresh fruits is increasing, especially in Europe and North America, due to consumers' growing concerns over health and wellness and a shift toward vegan foods. Due to a lack of sufficient human resources in agriculture production, the countries are heavily relying on imports to meet the demand. The tropical fruits have a stable demand across the year, and it is met with imports from countries like Costa Rica and the Philippines. Europe and North America alone constitute over 50% of the total world's imports. In addition, the demand for organic fruits is rising after the onset of COVID-19, and there is an increasing effort to grow locally. The pineapple demand took a slight dip after the COVID-19 pandemic, but it is expected to regain due to the lifting of restrictions in many countries.
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Asia Leads Pineapple Consumption and Production
Asia is the largest region in the world both in terms of production and consumption. This is due to large local consumption and the highest area under pineapple production. The Philippines is the top producer in the region, followed by Indonesia and India. China imported USD 172 million worth of pineapples in 2020 to meet its consumption demand. Much of these imports are from its neighboring countries like the Philippines and Chinese Taipei. Pineapple is consumed directly as a fresh fruit and is now increasingly utilized in beverages in the Asian region. Despite the rising demand, the area under production has been falling over the last four years since 2018, and it is expected to fall further.
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Ananas Anam is a textile company that innovated a new material called Pinatex. It is made from pineapple leaf fiber and is used in the fashion and upholstery industries. The usage of Pinatex is growing due to its natural, sustainable, and plant-based properties.
In India, the state government of Tripura has launched an initiative called the Tripura Pineapple and Jackfruit Mission ( TPJM) to increase the production and export of both fruits. The region is already exporting pineapples to the United Kingdom and Germany, and the mission has allocated a fund of USD 19 million for the next five years from April 2022.
Table of Contents
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, Consumption Analysis, Import Market Analysis by Value and Volume, Export Market Analysis by Value and Volume, and Price Trend Analysis)
5.1.1 North America
220.127.116.11 United States
18.104.22.168 Costa Rica
22.214.171.124 Rest of North America
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 Rest of Asia
5.1.4 South America
5.1.5 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
7. THE COVID-19 IMPACT ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Pineapple Market market is studied from 2017 - 2027.
What is the growth rate of Pineapple Market?
The Pineapple Market is growing at a CAGR of 3% over the next 5 years.
Which region has highest growth rate in Pineapple Market?
Asia is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Pineapple Market?
Asia holds highest share in 2021.