WASHINGTON, March 16, 2023 (GLOBE NEWSWIRE) -- Global Pepper Market was valued at USD 4.5 Billion in 2022 and is projected to reach USD 5.3 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 2.5% over the forecast period 2023-2030.
Market Overview
Smokers who want to stop using tobacco use black Pepper oil to help them manage their caffeine consumption. In addition, increased production of perfume, Pepper sprays, and essential oils is anticipated to propel market expansion. The increasing strategic acquisitions will significantly impact the expansion of the world Pepper market among key competitors.
We forecast that the black Pepper category in Pepper market sales will account for more than 37% of total sales by 2028. The rise in consumption of prepared and fried foods, confectionery items, and bakery goods in industrialized economies is driving the demand for spice. The global black Pepper market has largely been driven by growing demand from Far Eastern countries that have started using more Pepper in cuisine.
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Market Dynamics
Rising Usage of Black Peppers Across the Supply Chain will Increase to Support Market Expansion
Black Pepper oil, liquor, and flavor are produced by cooking, cleaning, and drying the drupes. The demand for this product has greatly increased due to the rising consumption of fried, ready-to-eat, and bakery products. Some of the main products in black Pepper impart a particular flavor, including cakes, candy, and garlic bread. The practice of incorporating natural flavor enhancers into food products has also fueled industry expansion.
Use of Eco-friendly and Sustainable Packaging for Pepper to Drive the Market Growth
Distributors of Pepper use biodegradable packaging to meet their sustainability objectives. Customers' increasing demand for eco-friendly and sustainable Pepper packaging, combined with the expansion of government programs, is pressuring suppliers to switch from conventional containers to recyclable ones like cardboard and bioplastics.
Top Players in the Global Pepper Market
- Everest Spices (India)
- MDH Spices (India)
- Gupta Trading Company (India)
- SAIGON HANOI IMEXCO LTD (Vietnam)
- British Pepper & Spice Co Ltd (U.K.)
- McCormick & Company Inc. (U.S.)
- Olam International (Singapore)
- Intimex Group (Vietnam)
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Top Trends in Global Pepper Market
- One trend that Vantage Market Research (VMR) expects to see in the Pepper industry is the introduction of a minimum support prize. Suppliers engaged in illegal Pepper trade to avoid paying high import tariffs, which required them to go through the legal system. Prices were steadily dropping as a result of this. Governments have implemented a minimum import price to combat this and the deflationary tendency in Pepper prices.
- Another trend that VMR predicts will continue in the Pepper industry is its increased inventory stock. The inventory of Pepper vendors has grown due to increased global production. Additionally, some suppliers intentionally build up their inventories to sell at a greater price when the market corrects itself. Because of this, providers' storage expenses will grow due to increased Pepper inventory.
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Top Report Findings
- Based on Nature, the organic category controls most of the Pepper market's revenue. Digestive health is supported, and digestion is improved by organic black Pepper. Commonly referred to as the "king of spices," it is made from the dried, immature fruit of the indigenous Indian plant Piper nigrum. They are all-natural and free of pesticides. In cooking, both whole and ground Peppers are frequently used. This fosters the segment's growth.
- Based on the Product, the black Pepper category controls most of the Pepper market's revenue. In the current market climate, the fresh harvest of black Pepper will be projected to make up between 30% and 35% of the market. The price of black Pepper is projected to increase due to the rise in demand, enhancing the profit margins of businesses in this industry as it becomes more popular in people's diets.
- Based on Forms, most of the Pepper market's revenue is controlled by the powder category because it contains a lot of piperine, a potent antioxidant beneficial for avoiding form-free necessary cell transformation.
- Based on Applications, the beverages and food category control most of the Pepper market's revenue. The food and beverage industry commands a sizable market share, considering how frequently it is used in medications. Since people are becoming more health concerned, Pepper is even acceptable in diet items. It is virtually always used in cooking.
Black Pepper Category in Pepper Market to Generate a Substantial Revenue
For better understanding, based on the device type, the Pepper market is divided into White Pepper, Black Pepper, Green Pepper, and Red Pepper
During the forecast period, the Pepper market is anticipated to experience the highest CAGR for the black Pepper category. The market is being pushed by rising food product spending and increasing disposable incomes in developing nations. Black Pepper is also gaining popularity as a natural and efficient food preservative. Antibacterial drug agents are becoming more prevalent due to increasing food safety concerns.
On the other hand, the white Pepper category is anticipated to grow significantly. The dry fruit of the piper nigrum plant is used to make white Pepper. It is produced from fully mature berries. After the food has been prepared, white Pepper is added to enhance flavor and aftertaste. The distinctive aroma of the product and its expanding use in various segments are the main factors anticipated to propel the expansion of the white Pepper segment during the forecast period.
Asia Pacific Region in Pepper Market to Generate the most Revenue Globally
The Asia Pacific dominates the market throughout the projection period. Rising civic unrest in nations like China and India, among others, is an attempt to spur market expansion. Additionally, a sizable client base in the region is projected to fuel market expansion. The region's market is growing due to increased knowledge about using these goods for self-defense due to rising crime.
North America is projected to be the fastest region in the market during the forecast period. The significant market share of the region can be linked to the products' rising appeal with women consumers throughout the area. Additionally, the market is anticipated to increase during the forecast period due to supportive government legislation permitting the general public and law enforcement organizations nationwide to use Pepper for personality.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on Pepper Market Forecast Report (2023-2030).
Global Pepper Market Segmentation
By Nature
- Organic
- Conventional
By Product Types
- White Pepper
- Black Pepper
- Green Pepper
- Red Pepper
By Applications
- Food & Beverage
- Personal Care Products
- Other Applications
By Forms
- Whole Pepper
- Powdered Pepperage
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 4.5 Billion |
| Revenue Forecast by 2030 | USD 5.3 Billion |
| CAGR | 2.5% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Everest Spices, MDH Spices, Gupta Trading Company, SAIGON HANOI IMEXCO LTD, British Pepper & Spice Co Ltd, McCormick & Company Inc., Olam International, Intimex Group |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Key Questions Answered in the Report:
- What is the current size of the pepper market, and how is it expected to grow in the future?
- What are the main types of pepper available in the market, and what are their respective market shares?
- What are the key drivers and challenges facing the pepper industry?
- Who are the major players in the pepper market, and what are their market shares?
- What are the key trends and developments in the pepper market, such as new product launches and mergers and acquisitions?
- What is the level of competition in the pepper market, and what are the strategies employed by players to gain market share?
- What are the regional and country-level market trends and opportunities in the pepper industry?
- What are the pricing trends in the pepper market, and what factors are driving them?
- What are the key consumer preferences and behaviors regarding pepper consumption?
- What are the regulatory and policy frameworks impacting the pepper market, and how are they likely to evolve in the future?
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