The Business Research Company's latest report focused on the global pineapple market shows the commodity has grown strongly in recent years and is forecast to grow from $25.32 billion in 2023 to $27 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%.

According to the organization, the growth is 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.

Short-term growth is attributed mainly to the increase of people following vegan and flexitarian diets, which is expected to propel the market going forward.

The organization describes the vegan population as individuals who abstain from consuming animal products entirely, including meat, dairy, and eggs, and flexitarians as people who primarily follow a vegetarian diet but occasionally consume meat or fish in moderation.

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.

The company cites the report published by the United States Department of Agriculture in January 2023 which showed that in Germany, nearly 8 million people adhered to a vegetarian diet, 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. 

Long-term, the pineapple market is expected to grow to $35.34 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%, an increase mainly attributed to urbanization and population growth, adoption of sustainable agriculture practices, expansion of e-commerce platforms, and stringent food safety regulations.