The
global black pepper market is expected to witness robust growth
during the forecast period. This growth is expected to be primarily
driven by a rising number of mergers and acquisitions, product
innovation and increasing inclination of consumers towards seasoning
in their diets. “Black Pepper Market: Global Industry Analysis 2012
– 2016 and Forecast 2017 – 2025,” is a new report published by
Persistence Market Research that tracks the performance of the global
black
pepper market for a projected period of eight years, i.e.
2017-2025. According to this report, in 2017, global black pepper
market is estimated to be valued at US$ 3761.2 Mn, which is estimated
to increase at a CAGR of 6.1% over the forecast period to reach US$
5701.0 Mn by the end of 2024.
Global
Black Pepper Market: Regulatory Requirements
- American spice trade association (ASTA) is dedicated to providing clean, safe spice to their customers and consumers. ASTA provides a range of programs and publications to ensure companies have the tools they need to meet that goal.
- In Europe, the safety of spices is guided under the European spice association (ESA). European Spice Association, ESA, is a non-profit association representing the interests of its members in all matters pertaining to the processing, packing, quality assurance and food safety and/or marketing of herbs, spices and spice products. Moreover, European Commission is also particular about the product claims thereby offering products that are safe, high in quality
- New South Wales Food Authority (NSWFA) is an Australian government statutory authority, responsible for food safety and food labelling regulations in the state as well as consumer food safety promotion
- Spices Board is the flagship organization for the development and worldwide promotion of Indian spices
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Global
Black Pepper Market: Forecast by Form
By
form segment of the global black pepper market includes, ground black
pepper, rough cracked black pepper, and whole black pepper. Of the
different forms, in terms of revenue, ground black pepper segment is
estimated to dominate the market with 47.7% share in 2016 end. Whole
black pepper segment is expected to grow at a CAGR of 6.0% in terms
of value during the forecast period i.e. 2017 to 2025.
Global
Black Pepper Market: Forecast by Application
Application
segment consists of food and beverages, pharmaceuticals and personal
care. By application, the food and beverages segment is expected to
remain dominant during the forecast period. Food and beverages
segment is estimated to account for highest market share of 65.6% in
2016 and is expected to reduce at 61.1% in 2024. The segment is
estimated to be valued at US$ 3821.6 Mn by the end of 2024. The
segment has been estimated to create absolute $ opportunity of US$
1497.4 Mn between 2016 and 2024.
Global
Black Pepper Market: Forecast by Source
Source
segment includes organic and conventional segments. Conventional
black pepper segment is estimated to account for highest market share
of 82.5 % in 2016 and is expected to lose 1.1 BPS by 2024 as compared
to that in 2016. The segment is estimated to be valued at US$ 1055.6
Mn by the end of 2024. Conventional black pepper segment is expected
to expand at highest CAGR in terms of both value and volume over the
forecast period.
Global
Black Pepper Market: Forecast by Region
North
America, Latin America, Europe, Japan and MEA are the five regions
which are covered in this report. APAC black pepper market is
expected to contribute US$ 2607.8 Mn to the overall black pepper
market by the end of 2024. Consumer’s shifting preference towards
organic black pepper due to rising trend of organic products
worldwide and the increasing trend of natural ingredient’s demand
for black pepper in various industries such food and beverages,
personal care, and health care are the reasons behind black pepper
market growth in APAC region.
Global
Black Pepper Market: Key Vendors
Olam
International, Kancor Ingredients Ltd., McCormick & Company,
Ajinomoto Co., Inc., The British Pepper & Spice Co., Ltd.,
Mahashian Di Hatti Pvt., Ltd., Webb James Srl, doTERRA International,
Robertet SA, DS Group, Baria Pepper, Everest Spices, Synthite
Industries Ltd., Foodchem International Corporation, The Lebermuth
Company Inc., Givaudan AG, Visimex Joint Stock Company, Vietnam
Hanfimex Corporation, and Indian Valley Foods Pvt. Ltd. are some of
the companies which are covered in this report.
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