Fresh Del Monte Unveils Red-Shelled Pineapple, the Rubyglow® Pineapple

Rhea-AI Summary

Fresh Del Monte Produce Inc. (NYSE: FDP) announces the launch of its latest pineapple innovation, the Rubyglow® pineapple, a red-shelled pineapple with a new, sweet flavor, targeting the Chinese market. The company aims to solidify its position as a global leader in pineapple innovation and cater to the luxury novelty items market in China. The Rubyglow® pineapple is a hybrid fruit produced through traditional crossbreeding techniques and has a registered plant patent in the United States. Fresh Del Monte has been leading pineapple innovation since the 1990s and continues to introduce new pineapple varieties to cater to consumers worldwide.

Insights

Market Research Analyst

The introduction of the Rubyglow® pineapple by Fresh Del Monte Produce Inc. represents a strategic product differentiation in the fresh produce market. By launching a unique product with a distinctive aesthetic and taste profile, they are targeting a niche segment that values novelty and exclusivity. The decision to enter the Chinese market aligns with the increasing purchasing power and appetite for luxury goods among Chinese consumers. The limited availability of the product could create a sense of urgency and drive demand, potentially allowing Fresh Del Monte to command premium pricing.

However, the success of this strategy will depend on the company's ability to effectively market the Rubyglow® pineapple and manage supply chain logistics in a new market. The Chinese market is known for its complexity and regulatory challenges, which means Fresh Del Monte will need to navigate these hurdles to establish a foothold. Additionally, the company's ability to scale production while maintaining quality will be critical to sustaining long-term growth in China and beyond.

Agricultural Economist

The development and patenting of the Rubyglow® pineapple underscore the importance of intellectual property in the agricultural sector. A registered plant patent provides Fresh Del Monte with exclusive rights to the Rubyglow® pineapple, potentially creating a barrier to entry for competitors. This exclusivity can justify the research and development investment over the past 15 years and may result in higher profit margins due to the lack of direct substitutes.

From an economic perspective, the cultivation of the Rubyglow® pineapple in Costa Rica likely benefits from the country's favorable climate for pineapple growth, as well as potentially lower labor and production costs. However, introducing a new agricultural product also carries risks, including the possibility of crop failure or unforeseen environmental impacts. The company must also consider the carbon footprint associated with transporting the fruit to China, which could influence consumer perception in an increasingly environmentally conscious market.

Brand Strategy Consultant

The launch of the Rubyglow® pineapple as part of Fresh Del Monte's entry into the Chinese market is a calculated brand expansion move. The timing of the launch to coincide with Chinese New Year, a period associated with gifting and celebration, is particularly astute. The choice of elegantly designed, crownless packaging not only differentiates the product but also caters to the premium segment of the market that values presentation and exclusivity.

However, brand positioning within the Chinese market will be key. Fresh Del Monte will need to navigate cultural nuances and consumer preferences to ensure the Rubyglow® pineapple resonates with local tastes. Building brand awareness and establishing distribution channels will be critical for market penetration. The company's track record of innovation with products like the Pinkglow® and Honeyglow® pineapples suggests a strong brand narrative that can be leveraged to build consumer trust and interest in the new Rubyglow® pineapple.

Company further cements its position as the world’s leader in pineapple innovation, makes its push into the Chinese market

MIAMI--(BUSINESS WIRE)-- Fresh Del Monte Produce Inc. (NYSE: FDP), one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruits and vegetables, today announced the launch of its latest pineapple innovation, the Rubyglow^® pineapple – a red-shelled pineapple. This pineapple has a red outer skin, bright yellow flesh, and a new, sweet flavor similar to Del Monte pineapples. The Rubyglow^® pineapple is first being launched in China, in time for Chinese New Year as part of the company’s grand debut in the Chinese market. A waitlist is available for consumers in other countries.

The Rubyglow® pineapple – a red-shelled pineapple by Fresh Del Monte Produce Inc. (Photo: Business Wire)

“We are proud to unveil our latest pineapple innovation to the world, the Rubyglow^® pineapple. This Del Monte exclusive pineapple further cements our global leadership position in the pineapple market,” said Mohammad Abu-Ghazaleh, Chairman and CEO of Fresh Del Monte. “Our scientists continue to elevate the bar by creating new pineapple varieties, with varied tastes and colors, that cater to more and more consumers worldwide. We believe that the Rubyglow^® pineapple is the perfect product to build our market presence in China.”

With around 5,000 pineapples available worldwide in 2024 and 3,000 in 2025, the pineapple’s rarity and limited inventory make Rubyglow^® pineapple a highly coveted item. This holds particularly true in the Chinese market, where consumers wield significant spending power and value luxury novelty items.

Grown in Costa Rica, the Rubyglow^® pineapple has been in development for more than 15 years and has a registered plant patent in the United States. It is a cross between a traditional pineapple and a Morada pineapple — which is typically inedible — making the Rubyglow^® pineapple a hybrid fruit produced through traditional crossbreeding techniques. Rubyglow^® pineapples are naturally ripened in Costa Rica on the plant and sold crownless in elegantly designed packaging.

Fresh Del Monte has been leading pineapple innovation since the 1990s with the debut of the Del Monte Gold® Extra Sweet pineapple, the first of its kind. The pineapple has a golden color and, at that time, was much sweeter than any other pineapple on the market. Since then, the company’s robust pineapple program has released the Pinkglow^® pineapple, the Honeyglow^® pineapple, the Del Monte Zero™ pineapple, and now the Rubyglow^® pineapple.

ABOUT FRESH DEL MONTE

Fresh Del Monte Produce Inc. is one of the world’s leading vertically integrated producers, marketers, and distributors of high-quality fresh and fresh-cut fruit and vegetables, as well as a leading producer and distributor of prepared food in Europe, Africa, and the Middle East. Fresh Del Monte Produce Inc. markets its products worldwide under the DEL MONTE® brand (under license from Del Monte Foods, Inc.), a symbol of product innovation, quality, freshness, and reliability for over 135 years. The company also markets its products under the MANN™ brand and other related trademarks. Fresh Del Monte Produce Inc. is not affiliated with certain other Del Monte companies around the world, including Del Monte Foods, Inc., the U.S. subsidiary of Del Monte Pacific Limited, Del Monte Canada, or Del Monte Asia Pte. Ltd. Fresh Del Monte Produce Inc. is the first global marketer of fruits and vegetables to commit to the “Science Based Targets” initiative. In 2022 and 2023, Fresh Del Monte Produce was ranked as one of “America’s Most Trusted Companies” by Newsweek based on an independent survey rating companies on three different touchpoints, including customer trust, investor trust, and employee trust. The company was also named a Humankind 100 Company for two consecutive years by Humankind Investments, which recognizes companies that substantially impact areas such as access to food and clean water, healthcare, and digital services. Fresh Del Monte Produce Inc. is traded on the NYSE under the symbol FDP.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240124934137/en/

Claudia Pou

Vice President, Global Head of Corporate Communications

communications@freshdelmonte.com

Source: Fresh Del Monte Produce Inc.

FAQ

What is the latest innovation announced by Fresh Del Monte Produce Inc. (FDP)?

Fresh Del Monte Produce Inc. (FDP) has announced the launch of its latest pineapple innovation, the Rubyglow® pineapple, a red-shelled pineapple with a new, sweet flavor.

Where is the Rubyglow® pineapple first being launched?

The Rubyglow® pineapple is first being launched in China, in time for Chinese New Year as part of Fresh Del Monte Produce Inc.'s grand debut in the Chinese market.

What makes the Rubyglow® pineapple unique?

The Rubyglow® pineapple is a hybrid fruit produced through traditional crossbreeding techniques and has a registered plant patent in the United States.

What is Fresh Del Monte Produce Inc.'s position in the pineapple market?

Fresh Del Monte Produce Inc. aims to solidify its position as a global leader in pineapple innovation and cater to the luxury novelty items market in China.

What are some of the previous pineapple innovations by Fresh Del Monte Produce Inc.?

Fresh Del Monte has been leading pineapple innovation since the 1990s and has introduced previous pineapple varieties such as the Del Monte Gold® Extra Sweet pineapple, the Pinkglow® pineapple, and the Honeyglow® pineapple.