diff --git a/utils/pythonutils/utils.go b/utils/pythonutils/utils.go
index 084d9f41..77aa0dc0 100644
--- a/utils/pythonutils/utils.go
+++ b/utils/pythonutils/utils.go
@@ -3,6 +3,7 @@ package pythonutils
 import (
 	"errors"
 	"fmt"
+	"github.com/jfrog/gofrog/version"
 	"path/filepath"
 	"regexp"
 	"strings"
@@ -167,6 +168,8 @@ func InstallWithLogParsing(tool PythonTool, commandArgs []string, log utils.Log,
 	downloadingRegexp := regexp.MustCompile(`^\s*Downloading\s([^\s]*)\s\(`)
 	usingCachedRegexp := regexp.MustCompile(`^\s*Using\scached\s([\S]+)\s\(`)
 	alreadySatisfiedRegexp := regexp.MustCompile(`^Requirement\salready\ssatisfied:\s(\w[\w-.]+)`)
+	pipEnvUsingCached := regexp.MustCompile(`^\s*Using\s*cached\s*`)
+	pipEnvRegexp := regexp.MustCompile(`.*`)
 
 	var packageName string
 	expectingPackageFilePath := false
@@ -253,11 +256,91 @@ func InstallWithLogParsing(tool PythonTool, commandArgs []string, log utils.Log,
 			return pattern.Line, nil
 		},
 	}
-
-	// Execute command.
-	_, errorOut, _, err := gofrogcmd.RunCmdWithOutputParser(installCmd, true, &dependencyNameParser, &downloadedFileParser, &cachedFileParser, &installedPackagesParser)
+	pipEnvVersion, err := getPipEnvVersion()
 	if err != nil {
-		return nil, fmt.Errorf("failed running %s command with error: '%s - %s'", string(tool), err.Error(), errorOut)
+		return nil, err
+	}
+	verifyPipEnvVersion := pipEnvVersion.Compare("2023.7.23") == -1 || pipEnvVersion.Compare("2023.7.23") == 0
+	if tool == Pipenv && verifyPipEnvVersion {
+		// Add verbosity flag to pipenv commands to collect necessary data
+		var usingCachedMode bool = false
+		var cache string
+
+		// Extract already installed packages names.
+		pipEnvUsingCachedPattern := gofrogcmd.CmdOutputPattern{
+			RegExp: pipEnvUsingCached,
+			ExecFunc: func(pattern *gofrogcmd.CmdOutputPattern) (string, error) {
+				// Check for out of bound results.
+				if len(pattern.MatchedResults)-1 < 0 {
+					log.Debug(fmt.Sprintf("Failed extracting package name from line: %s", pattern.Line))
+					return pattern.Line, nil
+				}
+				usingCachedMode = true
+				return pattern.Line, nil
+			},
+		}
+
+		// Extract already installed packages names.
+		pipEnvUsingCached := gofrogcmd.CmdOutputPattern{
+			RegExp: pipEnvRegexp,
+			ExecFunc: func(pattern *gofrogcmd.CmdOutputPattern) (string, error) {
+				// Check for out of bound results.
+				if len(pattern.MatchedResults)-1 < 0 {
+					log.Debug(fmt.Sprintf("Failed extracting package name from line: %s", pattern.Line))
+					return pattern.Line, nil
+				}
+				if usingCachedMode {
+					cache = strings.Join([]string{cache, strings.Join(pattern.MatchedResults, "")}, "")
+					if strings.Contains(cache, "(") {
+						usingCachedMode = false
+						cache, _, _ = strings.Cut(cache, "(")
+						_, cache, _ = strings.Cut(cache, "Using cached")
+						cache = strings.ReplaceAll(cache, " ", "")
+						// Save dependency information.
+						filePath := cache
+						lastSlashIndex := strings.LastIndex(filePath, "/")
+						var fileName string
+						if lastSlashIndex == -1 {
+							fileName = filePath
+						} else {
+							fileName = filePath[lastSlashIndex+1:]
+						}
+						dependenciesMap[strings.ToLower(packageName)] = entities.Dependency{Id: fileName}
+						cache = ""
+						expectingPackageFilePath = false
+
+						log.Debug(fmt.Sprintf("Found package: %s installed with: %s", packageName, fileName))
+						return pattern.Line, nil
+					}
+				}
+				return pattern.Line, nil
+			},
+		}
+		_, errorOut, _, err := gofrogcmd.RunCmdWithOutputParser(installCmd, true, &dependencyNameParser, &downloadedFileParser, &pipEnvUsingCachedPattern, &pipEnvUsingCached, &installedPackagesParser)
+		if err != nil {
+			return nil, fmt.Errorf("failed running %s command with error: '%s - %s'", string(tool), err.Error(), errorOut)
+		}
+
+	} else {
+		// Execute command.
+		_, errorOut, _, err := gofrogcmd.RunCmdWithOutputParser(installCmd, true, &dependencyNameParser, &downloadedFileParser, &cachedFileParser, &installedPackagesParser)
+		if err != nil {
+			return nil, fmt.Errorf("failed running %s command with error: '%s - %s'", string(tool), err.Error(), errorOut)
+		}
 	}
+
 	return dependenciesMap, nil
 }
+
+func getPipEnvVersion() (*version.Version, error) {
+	versionData, err := gofrogcmd.RunCmdOutput(utils.NewCommand(string(Pipenv), "--version", []string{}))
+	if err != nil {
+		return nil, err
+	}
+	_, versionData, found := strings.Cut(versionData, "version ")
+	if !found {
+		return nil, errors.New("couldn't find pipenv version")
+	}
+	versionData = strings.ReplaceAll(versionData, "\n", "")
+	return version.NewVersion(versionData), nil
+}