In 2022, the worldwide black pepper market is assessed at US$ 4400 Million. The market is probably going to reach almost US$ 7991.9 Million by 2032, with a developing CAGR of 6.2% from 2022 to 2032.
Food is seasoned with black pepper, a savoury powder spice made from dried and ground peppercorns. It is known as the “King of Spices” because of how many antioxidants and other nutrients it contains. For new suppliers, the rising demand for peppers offers a profitable market opportunity. In the current economic scenario, it is projected that the fresh crop of black pepper will make up 30% to 35% of the market. Black pepper prices would rise as a result of increased demand, increasing market vendors’ profit margins.
As a result of its broad use in culinary applications and acknowledged health benefits, the black pepper market is expanding quickly. As people have become more health conscious, black pepper’s medicinal benefits, such as its anti-inflammatory and antioxidant capabilities, have gained in popularity. The spice’s adaptability in many cuisines helps to the rise in demand for it globally, which is fostering market expansion.
In addition, medications are created using black pepper powder. It is widely used to treat stomach problems, pneumonia, and cancer. It is occasionally administered directly to the skin to treat scabies, a skin disorder, and nerve pain (neuralgia). Painkillers frequently contain black pepper.
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Black Pepper Market: Drivers & Restraints
The black pepper market is directly influenced by the growing processed food industry. The rise in consumption of bakery products, confectionery products, and ready-to-eat and dried food in the developed economies is driving the market for the spice. The recent trend of using natural flavor enhancers has also catalyzed the growth of the global market. In the year 2013-15, the global pepper consumption is estimated at around 400,000 tons and has been increasing steadily. Increasing demand from Far East countries, which have started using more pepper in cooking, has been quite significant in driving the global black pepper market. Growth in the cosmetics industry is also directly influencing the pepper market. Due to the antioxidant and antibacterial properties of black pepper, it is often included in skin care products.
As stated earlier, the market is experiencing a major year-on-year increase in demand for black pepper. But unfortunately, this demand is not backed by adequate supply, which has proved to be a major restraint in this market. This is majorly due to the intensive crop losses in various parts of the world, especially in India & Brazil. Sudden climatic changes and untimely rainfall has significantly led to the fall in the yield of black pepper.
Black Pepper Market: Segmentation
The global black pepper market can be broadly segmented on the basis of; type, end use and application. On the basis of type, the market can be further segmented into – organic and inorganic. Based on end use, the market can be segmented into bakery and confectionery products, frozen products, soups, sauces & dressing, beverages, meat & poultry products, snacks and convenience food, and others. Based of application, the black pepper market can be segmented into food & beverages, health care and personal care & cosmetics.
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Black Pepper Market: Region Wise Outlook
Geographically, the global black pepper market is segmented into seven regions which are ; North America, Latin America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East and Africa (MEA) and Japan.
Vietnam, followed by Brazil, India & Indonesia are the leading producer of black pepper in the year 2014 globally.India saw a fall in its average production in the same year. The leverage of large scale production and productivity helps Vietnam growers to offer world’s lowest price tags.
In terms of export, Vietnam leads the market globally. U.S. market continues to be the largest importer of black pepper from Vietnam. While most markets like India, Saudi Arabia, Pakistan, Netherlands, Spain have seen an increase in their imports, except Germany. German market recorded a drop in imports from Vietnam. Thus, with a market share of approximately 50% per cent in the global market, Vietnam has been able dominate the market.
Black PepperMarket: Key Players
Some of the major companies operating in the global black pepper market are Baria Pepper, British Pepper and Spice, 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, and Webb James, Olam International Limited.
The report covers an exhaustive analysis on:
- Black Pepper Market Segments
- Black Pepper Market Dynamics
- Historical Actual Market Size, 2013 – 2015
- Black Pepper Market& Forecast 2016 to 2026
- Supply & Demand Value Chain
- Black Pepper Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
- Black Pepper Market Drivers and Restraints
Regional analysis for Black Pepper Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
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