Ackee Market Size Worth $35.23 Billion By 2032 | CAGR: 3.0%

The global ackee market size is expected to reach USD 35.23 billion by 2032, according to a new study by Polaris Market Research. The report “Ackee Market Share, Size, Trends, Industry Analysis Report, By Type (Fresh Ackee, Canned Ackee, Frozen Ackee); By Application; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Islands are known to witness higher tourism due to their pleasant atmosphere. It is not only limited to the environment but also to food. The great dishes also work effectively to attract consumers from various places, fueling their traction all over the world. One of the nation's most reliant on tourism is the Caribbean. The World Tourism Organization (WTO) estimates that the tourism industry contributes almost 50% of the GDP of United Nations Member States and is the main driver of job growth and foreign exchange earnings for the Caribbean economy. Jamaica's export of ackee brought in about USD 33,026 for fresh ackee and a staggering USD 24.9 million for canned ackee in 2022 alone, demonstrating the crop's rising importance in the global market. This trend is projected to continue soon.

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Governments are focused on enhancing their country's development process by increasing their ability to export finished products and raw materials to other nations, which ultimately increases the flow of money into their economy. Ackee is a widely used fruit in traditional Jamaican cuisine, and the Jamaican Ministry is currently seeking partnerships with private investors and agricultural entrepreneurs to help achieve the objectives of the New FACE (Food Security, Climate Change Technologies, Agribusiness Development, Export Expansion) of the Food Initiative.

Public-private partnerships (PPPs) provide a promising opportunity to combine the knowledge and resources of the government with the ingenuity and capital of the private sector, creating a dynamic ecosystem that can boost ackee production to new heights. The Ministry of Agriculture and Fisheries is strategically focused on establishing organized ackee orchards to improve productivity and enhance food security. All of Jamaica's parishes are suitable for growing ackee trees, but St. Elizabeth and Clarendon are particularly well-suited for forming organized orchards. This expansion may further drive demand for the ackee fruit during the study period.

Ackee Market Report Highlights

• The canned segment is anticipated to witness the highest growth in the coming years due to its convenience for households, primarily working professionals.
• The culinary use segment accounted for the larger market share owing to the growing awareness of international cuisines through tours and trips to the islands.
• The online segment is projected to experience a larger revenue share due to the availability of products without geographical barriers.
• North America is projected to register the largest growth rate in the study period owing to the rising adaptability of ackee fruit throughout the region.
• The global players include Caribbean Food Delights, Chaokoh, Jamaican Teas Limited, Jamaica Valley & King Pepper Products.

Polaris Market Research has segmented the ackee market report based on type, application, distribution channel and region:

Ackee, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Fresh Ackee
• Canned Ackee
• Frozen Ackee

Ackee, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Culinary Use
• Catering and Foodservice
• Snacks and Ready-to-eat

Ackee, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Hypermarkets and Supermarkets
• Convenience Stores
• Online Retail

Ackee, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Ackee Market Report Scope