Newark, NJ, Nov. 17, 2021 (GLOBE NEWSWIRE) -- As per the study published by Fior Markets, the global black pepper market is expected to grow from USD 3903.5 million in 2020 to USD 5990.65 million by 2028, at a CAGR of 5.5% during the forecast period 2021-2028.
The global black pepper market is growing at a steady pace. Healthy growth is expected during the forecast period. The market is driven by increased spending on food products and increased disposable income in developing countries. Black pepper is also gaining grounds as an effective and natural preservative in food products. Growing concerns about food safety are leading to the growth of new antimicrobial agents. Pepper essential oils not only improve flavour but also reduce microbial activity. Recent research shows that black pepper petroleum ether extract (BPPE) inhibits gene transcription, metabolic dysfunction, and cell death in microbes.
Black pepper is a plant that grows in the tropics. The plant is a perennial vine that bears flowers. Black pepper is the most important and most widely used spice globally, grown in more than 25 countries, and together they produce about 310,000 - 320,000 tons of pepper. Peppers are prized for their muscular strength contributed by the alkaloid piperine and the flavour of volatile oil, and people grow the pepper fruit plant. Pepper is also used as a seasoning or condiment. Usually, it makes things hot. Black pepper is produced from the immature green berries of the pepper plant. The berries are briefly cooked in hot water to clean them and prepare them for drying. Once dried, the fruits are called black peppercorns.
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The growing trend towards black pepper consumption as a health-promoting food in emerging economies boosts the black pepper market. Fast food companies may come forward, which is likely to open up new possibilities shortly. Moreover, the market is expected to see significant demand among cosmetic manufacturers, as black pepper is widely used in skin care formulations. A notable example is this, where farmers were selling their produce at unexpectedly low prices. Farm farmers in cost-sensitive markets have to bear the consequences of frequent lousy weather and the fluctuations of the monsoons. All these factors have slowed down the black pepper market to realize its full potential.
Key players operating in the global black pepper market include Pacific Production, Agri-food Pacific, PT AF, Everest Spices, Webb James, Baria Pepper, Brazil Trade Business, Visimex, Akar Indo, Gupta Trading, Vietnam Spice Company, Olam International Limited, DM AGRO, Silk Road Spices, British Pepper and Spice, Catch, The Spice House, MDH and McCormick.
The organic segment is anticipated to show significant growth over the forecast period.
Based on type, the global black pepper market is segmented into organic and inorganic. The organic segment is anticipated to show significant growth over the forecast period. The increasing level of health awareness in the country is an essential factor driving the demand for the organic sector. Consumers have started to take an interest in nutritional content and quality, which has led to increased demand. In addition, consumer spending on health and wellness products has increased significantly due to factors including strong economic growth, urbanization, and rising income levels.
The foodstuff and drinks segment dominated the market and held the largest market share of 30% in the year 2020
Based on application, the global black pepper market is segmented into fitness maintenance, private upkeep, foodstuff and drinks, makeup. The foodstuff and drinks segment dominated the market and held the largest market share of 30% in the year 2020. Black pepper is one of the healthiest spices and seasonings. Now in the increasing days, the adoption of black pepper in bakery and confectionery products like cakes, chocolates and snacks has led to the growth of the global black pepper market. For example, black pepper is used in rosemary bread, garlic bread, and other bakery products.
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Regional Segment of Black Pepper Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Based on geography, the global black pepper market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The global black pepper market is booming in all regions for a variety of reasons. Increasing food products, types of black pepper and growing penetration of the fast-food business are driving the market in Vietnam. The Asia Pacific black pepper market is expected to witness growth during the forecast period. Increasing family income, growing food business, and lifestyle changes and the popularity of traditional medicine drive up the demand for black pepper in significant markets of developing countries like China and India. The increasing demand for confectionery and bakery products and the use of black pepper in beauty products is expected to drive the market in Europe.
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About the report:
The global black pepper market is analyzed based on value (USD million). All the segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insights into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors' position grid analysis.
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