Black Pepper Market was valued in USD 4.09 billion in 2021 & to grow USD 6.87 billion by 2029 at CAGR 6.7% till 2029 : GreyViews

Black Pepper Market was valued in USD 4.09 billion in 2021 & to grow USD 6.87 billion by 2029 at CAGR 6.7% till 2029 : GreyViews

GreyViews

GreyViews

Black Pepper Market Size By Product (Brazilian Black Pepper, Lampang Black Pepper, Sarawak Black Pepper, Vietnamese Black Pepper, India Black Pepper and Others), By Source (Organic and Inorganic) and By End Use (Food & Beverages, Pharmaceuticals and Cosmetics), Regions, Segmentation, and forecast till 2029.

Pune India, Dec. 15, 2022 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Black pepper market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the black pepper market are present across various countries in the above-mentioned regions.

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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product, source, end use, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.

The significant players operating in the global black pepper market are BARIA PEPPER, The British Pepper & Spice Company Limited, The Dharampal Satyapal Group (Catch Foods), Everest Spices, McCormick & Company, Mahashian De Hatti Limited, AGRIFOOD PACIFIC COMPANY, Akar Indo Lestari, Gupta Trading Company, Pacific Production Co., Ltd. among others. To achieve a substantial market share in the worldwide black pepper market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

Various cuisines employ black pepper, an overwhelming powdered spice made from ground and dried peppercorns, as a flavouring. Black pepper’s reputation as the king of spices is due to the abundance of antioxidants and other compounds it contains. A lucrative business opportunity for new vendors to enter the market is presented by the rising demand for pepper. According to the forecast for the market, the new crop of black pepper will make up between 30% and 35% of it. The price of black pepper is expected to rise due to the high demand, boosting the suppliers’ profit margin. The expansion of the world market for black pepper is anticipated to be influenced by the rising demand for natural and healthy products. In order to increase the absorption of essential minerals and nutrients like vitamin, potassium, and zinc, more black pepper will likely be used as a dietary supplement. In the stomach, hydrochloric acid produced by black pepper aids in intestinal cleaning, reducing constipation, and aids in the treatment of the common cold. Black pepper is also used to stop wrinkles from forming and to battle skin distortion and exfoliation. Dandruff is treated with black pepper, which also promotes hair development, making for lustrous, silky hair. There are many positive elements that are known to support the expansion of the black pepper market globally.

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Scope of Black Pepper Market Report

Report Metric

Information

Study Period

2021-2029

Base Year          

2021

Forecast Period

2022-2029

Market Share Unit

4.09 USD Billion

Segments Covered

By Product, By Source, By End Use and Regions

Regions Covered

North America, Europe, Asia-Pacific, South America, and Middle-East and Africa

Major Players

BARIA PEPPER, The British Pepper & Spice Company Limited, The Dharampal Satyapal Group (Catch Foods), Everest Spices, McCormick & Company, Mahashian De Hatti Limited, AGRIFOOD PACIFIC COMPANY, Akar Indo Lestari, Gupta Trading Company, Pacific Production Co., Ltd. among others.

Segmentation Analysis

The India Black Pepper segment is expected to be the fastest-growing segment in 2021. 

The product segment includes Brazilian Black Pepper, Lampang Black Pepper, Sarawak Black Pepper, Vietnamese Black Pepper, India Black Pepper and Others. The India Black Pepper segment is expected to witness the highest growth rate during the forecast period. Due to its potent therapeutic and medicinal effects. In particular, it is frequently used to treat menstrual, throat, ear, and sinus problems in several kinds of alternative medicine known as Ayurveda. Because it contains a lot of vitamin A and other minerals, Indian black pepper also helps people have good vision and a stronger immune system. Its exceptional anti-inflammatory properties help to lessen swelling in the eyes and other body parts.

Organic segment is expected to be the fastest-growing segment in 2021. 

The source segment includes Organic and Inorganic. The organic segment is expected to witness the highest growth rate during the forecast period. It aids in digestion and is nutrient-rich. The “adopt organic” trend is one of the main elements affecting the market’s growth. Global market expansion is being fueled by the associated benefits of organic products, such as their superior, quicker healing capacities and lack of chemicals. Additionally, the sterilising process is used to create these organic products rather than fumigation or radiation.

Cosmetics segment is expected to be the fastest-growing segment in 2021. 

The end use segment includes Food & Beverages, Pharmaceuticals and Cosmetics. The cosmetics segment is expected to witness the highest growth rate during the forecast period. Due to consumers’ rising desire for premium Black Pepper, new premium implants being introduced by key market participants, consumers’ rising disposable income, and consumers’ expanding understanding of premium Black Pepper, this market has expanded. Black pepper is anticipated to see an increase in demand from producers of skin care products, which are anticipated to be the fastest-expanding market segment, as a result of its many skin health benefits. The ingredient is frequently used in skin care products due to its benefits for wound healing, anti-inflammatory properties, and antibacterial properties.

Regional Analysis           

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the hair color include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

  • The North America region witnessed a major share. Because consumers’ preferences for wholesome and Ayurvedic spices have changed. Black pepper significantly reduces inflammation and improves blood sugar control. Because of how they live and eat, consumers are choosing healthier products, which has helped to prevent diseases like diabetes and cardiovascular disease, among others. Black pepper is crucial to the immune system’s health because of its antioxidant properties, which support cells in their fight against disease.

Country Analysis

Germany Black Pepper market size was valued at USD 0.06 billion in 2021 and is expected to reach USD 0.09 billion by 2029, at a CAGR of 5.5% from 2022 to 2029. The most prominent and widely used spice in Europe is black pepper, and consumers are well aware of its flavour because it has long been a component of their traditional food. In fact, pepper was so valuable in ancient Europe that it was frequently used as money. As a result, it is referred to as the “King of Spices.”

China’s Black Pepper’ market size was valued at USD 0.088 billion in 2021 and is expected to reach USD 0.14 billion by 2029, at a CAGR of 6.3% from 2022 to 2029. Growing demand for dietary supplements and an ageing population are driving the global market expansion. Since organic black pepper encourages improved absorption of nutrients like selenium, calcium, and other helpful compounds for plants, demand for it has increased significantly on the market.

India’s Black Pepper market size was valued at USD 0.084 billion in 2021 and is expected to reach USD 0.13 billion by 2029, at a CAGR of 6% from 2022 to 2029. Growing demand for dietary supplements and an ageing population are driving the Indian market expansion. Since organic black pepper encourages improved absorption of nutrients like selenium, calcium, and other helpful compounds for plants, demand for it has increased significantly on the market.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.

Furthermore, the growth of this market is mainly driven by growing consumer expenditure on healthcare and flourishing pharmaceutical sector.

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