Vazhakulam in Ernakulam district, Kerala, popularly termed the “Pineapple City,” functions as Asia’s largest pineapple market, handling nearly 80% of the state’s pineapple trade and contributing over 10% of India’s total production. Despite the premium positioning conferred by the Geographical Indication (GI) tag awarded to the Vazhakulam Mauritius variety in 2009, the sector faces acute economic instability, evidenced by an 80% decline in active farmers between 2021 and 2024 and extreme farm-gate price volatility. This study undertakes a descriptive-analytical examination of the growth trajectory and economics of pineapple cultivation in Vazhakulam using secondary data spanning 2021-22 to 2025-26. The analysis covers cost structure, price behaviour, varietal transition from Mauritius to MD2, export performance, value-addition potential, and marketing-channel preferences across farmer categories, tested using a chi-square test of independence. Results indicate that escalating planting-material costs, an 88–90% dependence on leased land, an under-developed processing base (below 15% of output against a 90% global benchmark), and acute export dependence on Gulf markets are the principal drivers of instability, compounded by a statistically significant association between farm size and marketing-channel choice (χ² = 25.87, df = 4, p < 0.05). The study concludes that integrated interventions in price stabilisation, planting-material subsidy, processing infrastructure and tenurial security are necessary to sustain the GI brand and reverse farmer attrition.