Pepper Market
to Reach US$ 6,104.7 Mn by 2023
According to a new
market report published by Credence Research Inc., “Pepper Market (By Product
Type (Black, White and Green), By Application (Food & Beverages, Health
Care, Personal Care & Cosmetics and others)) - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the worldwide
pepper market was valued at US$ 3,676.3 Mn in 2015. In terms of volume the
global market stood at 410.1 kilo tons in 2015.
Market
Insights:
The global pepper
market is driven by factors such as rising demand for convenient foods, bakery
products and processed foods. In addition, rise in disposable income, changing
food consumption patterns, rapid urbanization and rise in meat consumption is
escalating the demand of spices and particularly for pepper. Pepper due to its
antibacterial and antioxidant properties is also extensively used in health
care and personal care & cosmetics industries.
Adulteration is one of
the major concerns for the spice industry. All spices whether, rare or common
have their particular adulterants that they are mixed while preparation of the
spices or entirely substitute the original spices. The black pepper is
adulterated with dried seeds of papaya which look exactly like the real black
pepper. It is almost next to impossible to detect this adulteration in large
quantities of pepper. In the course of steaming process, whole pepper’s volatile
oil is extracted and then its seeds are colored and mixed with unutilized
pepper seeds in minute ratios.
The high growth
potential in emerging markets and untapped regions which have started using
more pepper in cooking, provide new growth opportunities for the market
vendors.
Competitive
Insights:
The global pepper
market is highly competitive with presence of various international and
regional players. The market players are adopting various strategies to
increase their market position. Some of the key vendors present in this market
are Baria Pepper, British Pepper and Spice, Everest Spices, MDH and Catch among others.
Key Trends:
Focus on enhancing new
application area for pepper
Untapped and emerging
regions provides huge market potential
Rising demand for
health and wellness products
Blog:
http://www.mobilecomputingtoday.co.uk/4534/global-pepper-market-reach-6104-7-2023-credence-research/
About Us:
Credence
Research is a worldwide market research and counseling firm that serves driving
organizations, governments, non legislative associations, and not-for-benefits.
We offer our customers some assistance with making enduring enhancements to
their execution and understand their most imperative objectives. Over almost a
century, we’ve manufactured a firm extraordinarily prepared to this task.
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