The black pepper market value is expected to rise from US$ 2,476.4 million in 2024 to US$ 5,432.5 million by 2034. This growth is expected to be driven by a CAGR of 8.20% over the next decade.
Black pepper is popularly used in Indian households to prepare skin care formulas or so-called DIY, apart from its use in culinary dishes, from time immemorial. Taking a cue from this and gaining a comprehensive view of the uses and benefits of black pepper, manufacturers are incorporating black pepper in beauty products to level up their exfoliation game and promote healthier-looking skin.
Both men and women are becoming aware of the benefits of applying beauty products whose ingredients are found in nature. Thus, driving up the sales of similar cosmetic products. Skin care product manufacturers are opting for black pepper for its benefits like anti-inflammatory, wound healing, and anti-bacterial properties.
Organic black pepper is observed to have a greater purchase rate by consumers as this variant of black pepper is without any antibacterial toxins. Furthermore, millennials are choosing organic products as they help elevate the absorption rate of dietary supplements. Therefore, black pepper, which is sourced organically, is finding significant acceptance for direct consumption or as an additive in the food and beverage sector.
“Players in the black pepper market are expected to invest heavily in advertisements to increase their brand familiarity among consumers and drive up product sales,” says an analyst at Future Market Insights.
Key Takeaways from the Black Pepper Market Report
- In 2019, the black pepper market generated a value of US$ 1,657.4 million. In 2023, the market was valued at US$ 2,240.8 million, expanding at a CAGR of 7.8%.
- Over the next ten years, the United States market is anticipated to register a CAGR of 5.4%.
- In Europe, the market in Italy is estimated to register a CAGR of 11.3% over the forecast period.
- The United Kingdom market is expected to record a CAGR of 8.9% through 2034.
- By nature, the conventional segment is anticipated to acquire a massive share of 70.6% in 2024.
- Based on the form, the ground segment is expected to possess a value share of 39.20% in 2024.
Strategies Employed by Leading Players to Up Their Game in the Global Market
Market players are investing their efforts into developing differentiated pepper products, which include flavored peppers, specialty grinds, and organic options.
Players are leveraging the increasing interest in ethical sourcing and sustainability by highlighting eco-friendly packaging, trade practices, and responsible sourcing partnerships.
Industry participants are investing in research and development to develop new growing techniques, create new pepper varieties, and increase disease and pest resistance.
Increasing partnerships with processors and farmers to maintain a stable supply of superior-quality peppercorns. Strengthening relationships between retailers and distributors to effectively promote the products. Key players are opting for mergers and joint ventures to expand their resources, reach, and market share.
Notable Developments
- In June 2020, Ajinomoto Co., Inc. is a leading food and amino acid firm acquired Granules OmniChem Private Ltd. to particularly strengthen its biopharma market position, especially in Asia Pacific.
- In November 2023, IISR-Kozhikode developed a high-yielding pepper variety and named it IISR Chandra. Two pepper varieties, namely Thommankodi and Cholamundi, were crossed to develop this hybrid variety. This latest development is anticipated to be a game-changer for the black pepper industry.
Extensive Market Research: Complete Report and Findings
Black Pepper Market Segmentation
By Nature:
- Organic
- Conventional
By Form:
- Whole
- Ground
- Crushed
By End Use:
- Industrial
- Food and Beverages
- Bakery and confectionary
- Frozen food products
- Snacks and savory products
- Soups, sauces, and dressing
- Meat and seafood products
- Beverages
- Ready-to-eat food
- Others
- Dietary Supplement
- Pharmaceuticals
- Cosmetics and Personal Care
- Food and Beverages
- Food Service Provider
- Retail/household
By Distribution Channel:
- B2B
- B2C
- Store-based Retailing
- Hypermarket/Supermarket
- Convenience Stores
- Specialty Stores
- Independent Grocery Stores
- Others
- Online Retailing
- Store-based Retailing
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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