NEWARK, Del, Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global black pepper market is predicted to reach a value of US$ 7991.9 Mn in 2032, with the market expanding at a healthy CAGR of 6.2% from 2022 to 2032. Driven by increasing spending on healthcare, an advancing pharmaceutical sector, and the rapidly expanding nutraceutical sector, the target market will likely reach an estimated US$ 4400 Mn by the end of 2022. The growing adoption of black pepper in food and beverage processing sector will further aid the market growth of the same during the forecast period.
An upsurge in the demand for natural and healthy items will likely contribute to the growth of the black pepper market in the upcoming years. A notable rise in the consumption of black pepper as a dietary supplement will further amplify the demand for black pepper. Black pepper contains brilliant anti-inflammatory properties and also aids in the absorption of necessary minerals and nutrient such as vitamin, potassium, and zinc. Hence, a rising awareness of these beneficial characteristics of black pepper is propelling the market growth of the same.
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Again, black pepper is also used to fight skin exfoliation and deformation along with working as a protection against wrinkles. It is also used to treat dandruff and facilitate hair growth, making the hair shiny and smooth. All of these aspects spur its demand in beauty and the personal care sector. In addition, increasing awareness of health-related advantages of black pepper, rising consumer knowledge and concerns regarding synthetic ingredient additives have intensified the demand for organic black pepper. All of these considerations, in addition to others, work together to foster an environment of growth for the black pepper market during the forecast period.
“Rising demand for healthy and natural products along with the growing popularity of ayurvedic products is expected to drive the global growth of the black pepper market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Rising awareness of medicinal and therapeutic benefits of black pepper stimulate market prospects for the same.
- The Black pepper market in Europe will account for 40.1% of the overall market share.
- North America’s black pepper market will hold about 33.4% of the global market share.
- United States is expected to continue to be one of the highest importers of black pepper.
- Germany, France, the U.K., Netherlands, Italy, and Poland offer profitable opportunities to the target market.
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Competitive Landscape
Baria Pepper, The British Pepper & Spice Co., Ltd., Catch, Everest Spices, McCormick, MDH, Agri food Pacific, Akar Indo, Brazil Trade Business, DM AGRO, Gupta Trading, Pacific Production, PT AF, Silk Road Spices, The Spice House, Vietnam Spice Company, Visimex Joint Stock Company, Webb James, Olam International Limited, Kancor Ingredients Ltd., Ajinomoto Co., Inc., Mahashian Di Hatti Pvt., Ltd., doTERRA International, Robertet SA, DS Group, Synthite Industries Ltd., Foodchem International Corporation, The Lebermuth Company Inc., Givaudan Schweiz AG, Vietnam Hanfimex Corporation, Indian Valley Foods Pvt. Ltd., among others are some of the major players in the black pepper market profiled in the full version of the report.
Leading market players are focusing on significantly increasing their strategic acquisition, mergers, and acquisitions to expand their product portfolio. These market participants also engage in diverse activities to enhance their market position.
More Insights into Black Pepper Market Report
In its latest report, FMI offers an unbiased analysis of the global black pepper market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (Lampang black pepper, Brazilian black pepper, Indian black pepper, Talamanca black pepper, Tellicherry black pepper, Sarawak black pepper, Vietnamese black pepper), form (rough cracked black pepper, ground black pepper, whole black pepper), source (Organic, Inorganic), end user (pharmaceutical, food & beverage, personal care, others), and region.
According to the latest FMI reports, based on region, the black pepper market in North America will present remarkable growth during the forecast period. The target market in this region will account for 33.4% of the global market share. Rising preference for a healthy lifestyle is encourage consumers to use healthy and ayurvedic spices. In addition, the growing awareness of benefits associated with black pepper propels the growth of the black pepper market in this region.
Europe’s black pepper market, too, will exhibit impressive growth during 2022-2032. This region is anticipated to hold about 40.1% of the total market share. Europe is considered as one of the biggest importers of black pepper owing to a rising demand for the target product in confectionary, bakery, and beauty products. Germany, France, the U.K., Netherlands, Italy, and Poland offer several lucrative opportunities to the black pepper market during the forecast period.
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Key Segments of the Black Pepper Market
By Product:
- Lampang Black Pepper
- Brazilian Black Pepper
- India Black Pepper
- Talamanca Black Pepper
- Sarawak Black Pepper
- Tellicherry Black Pepper
- Vietnamese Black Pepper
By Form:
- Rough Cracked Black Pepper
- Ground Black Pepper
- Whole Black Pepper
By Source:
- Inorganic
- Organic
By End Use:
- Pharmaceuticals
- Food & Beverage
- Personal Care
- Others
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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