Pineapples Global Market Projected to Experience a Growth Rate of 7.0% CAGR, Reaching over $35.34 Billion By 2028 | HJ Heinz Company, Dole plc, McCain Foods Limited, SunOpta Inc., Fyffes PLC

"""The Business Research Company recently released a comprehensive report on the Global Pineapples Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The pineapples market size has grown strongly in recent years. It will grow from $25.32 billion in 2023 to $27.00 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to increasing awareness of the health benefits associated with pineapple consumption, rising disposable incomes, a rise in government support, and shifting consumer preferences towards healthy and natural food options.

The pineapples market size is expected to see strong growth in the next few years. It will grow to $35.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to urbanization and population growth, adoption of sustainable agriculture practices, expansion of e-commerce platforms, and stringent food safety regulations. Major trends in the forecast period include innovations in agricultural technology, advancements in sustainable farming practices, research and development in genetic engineering technologies, advances in post-harvest technologies, and innovation in product development.

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Market Drivers and Trends:

An increasing vegan and flexitarian population is expected to propel the pineapples market going forward. The vegan population refers to individuals who abstain from consuming animal products entirely, including meat, dairy, and eggs. Flexitarians primarily follow a vegetarian diet but occasionally consume meat or fish in moderation. The surge in vegan and flexitarian populations is due to growing concerns about animal welfare, health considerations, and the availability of a wider variety of plant-based food options, fueling demand for alternative agricultural products. Pineapples are valued in vegan and flexitarian diets for their versatility as a flavorful ingredient in savory and sweet dishes, providing a delicious and plant-based option for diverse culinary preferences. For instance, in January 2023, according to a report published by the United States Department of Agriculture, a US-based federal department responsible for various aspects including farming, forestry, and food, nearly 8 million people adhered to a vegetarian diet in Germany, with 1.58 million identifying as vegan in 2022. Moreover, approximately 55% of the population in Germany is classified as part-time vegetarians or flexitarians, demonstrating a growing concern about meat consumption. Therefore, the rise in the vegan and flexitarian population is driving the growth of the pineapples market.

Major companies operating in the pineapples market are focusing on developing innovative products, such as red-shelled pineapple, to meet changing consumer demands. Red-shelled pineapple is a unique variety characterized by its vibrant red outer skin. This pineapple retains the same sweet and tangy flavor as traditional yellow pineapples but features a striking red hue on the exterior. For instance, in January 2024, Del Monte Foods Inc., a US-based canned vegetable and fruit production and distribution company, launched the Rubyglow pineapple in China, a Red-shelled pineapple that features a distinctive red outer skin, bright yellow flesh and a sweet flavor. The Rubyglow pineapple is positioned as a high-end luxury novelty item due to its rarity and limited inventory. Developed over 15 years in Costa Rica, Rubyglow is a hybrid fruit from traditional crossbreeding techniques, combining traits from traditional Morada pineapples.

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Major Key Players of the Market:

HJ Heinz Company, Dole plc, McCain Foods Limited, Chiquita Brands International Sàrl, Del Monte Pacific Limited, Ardo NV, Goya Foods Inc., Seneca Foods Corporation, Wawona Frozen Foods, SunOpta Inc., Fyffes PLC, Siam Food Products Public Company Limited, Fruit d'Or Inc., Capfruit, Agricycle Global Inc., Hawaiian Crown Company LLC, SOL SIMPLE LLC, V And K Pineapple Canning Co. Ltd, Winz International Ltd, Paradise Juice Pvt Ltd, Pacific Coast Fruit Products Ltd., Frutex Australia Pty Ltd, Sunrise Holding Inc.

Pineapples Market 2024 Key Insights:

• The pineapples market size is expected to see strong growth in the next few years. It will grow to $35.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%.
• Vegan And Flexitarian Populations Are Fueling Pineapples Market Growth
• Innovative Pineapple Varieties Del Monte's Rubyglow Redefines Luxury In The Market
• Asia-Pacific was the largest region in the pineapples market in 2023

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