Jalapeno
pepper Market: Introduction
The
Jalapeno pepper is a medium sized, pod type chili pepper belonging to
the capsicum family with mild to medium pungency and originating from
Mexico. The growing period for jalapeno is around 65-75 days, while
each plant produces approximately 20 to 35 pods. Moreover, the
pungency of jalapeno depends on the ripening of the pod, as jalapeno
pepper ripens it changes its color to red hence making them more
pungent than the green jalapeno pepper. Furthermore, the corking on
jalapeno also have the correlation with the heat level of jalapeno as
the jalapenos with more corking tends to be more pungent. However,
the corking in the jalapenos is perceived as unattractive in North
America market while in the Latin America market, it is looked as a
favorable trait for pickling of jalapeno. Attributed to the
increasing consumer demand, jalapeno pepper is used as topping
ingredient by major fast food chains around the globe which have
resulted in the increased traction of jalapeno products in the market
thus driving the growth of jalapeno pepper market over the forecast
period. In addition, to cater the growing appetite of jalapeno
pepper, key players are offering various processed forms such as
pickles, sauces, powders etc. of jalapeno pepper in the untapped
market.
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Jalapeno
pepper Market Segmentation
Global
Jalapeno pepper market can be segmented on the basis form, nature,
distribution channel, and region. On the basis of form, Jalapeno
pepper market is segmented into processed, dry and raw. The processed
sub-segment is further sub-segmented into pickles, powdered, sauce,
chipotle and others. On the basis of nature, jalapeno pepper market
is segmented into organic jalapeno pepper and conventional jalapeno
pepper. On the basis of the distribution channel, Jalapeno pepper
market is segmented into direct and indirect sales. Indirect sales
can be sub-segmented into modern trade, specialty stores, online
retail, and convenience stores. Under indirect sales segment, online
retail sub-segment is anticipated to increase with highest CAGR owing
to increasing preference among millennials to shop from e-commerce
coupled with increasing penetration high-speed internet globally
Jalapeno
pepper Market: Regional Outlook
On
the basis of geography, the Jalapeno pepper market is segmented into
North America, Latin America, Europe, Asia-Pacific, and MEA.
Globally, among all regions, Latin America is expected to be the
largest market for the Jalapeno pepper, owing to the relatively high
consumption, as Jalapenos are native to the region and has been used
traditionally in their cuisines. Furthermore, Latin America region is
also the largest producer of jalapeno pepper globally. In Latin
America region Mexico is anticipated to be the largest market of
jalapeno owing to the high production and consumption of jalapeno
pepper as they have been originated in the Veracruz state of Mexico.
After Latin America, North America is anticipated to hold substantial
market share over the forecast period owing to increasing consumer
preference for Mexican food. In addition, Asia Pacific is anticipated
to witness significant growth over the forecast period owing to the
increasing product visibility in the supermarket and fast food
chains.
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Jalapeno
pepper Market: Dynamics
Growing
processed food industry has direct impact on jalapeno pepper market
as increasing disposable income of middle-class groups of emerging
and developed economies has resulted in an increased per capita
spending on processed food products thus enabling consumers to try
out different regional processed food products which is anticipated
to drive the growth of global jalapeno pepper market over the
forecast period. Furthermore, growing demand for hot and spicy fast
food products among younger demmography is also anticipated to boost
the sales of jalapeno pepper products in the near future. However,
low level of calibration between supply and demand due high
concentration of production in Latin America region coupled with
variation in production yield of jalapeno pepper crop due to climatic
factors and other macroeconomic factors are anticipated to restrain
the growth global jalapeno market over the forecast period
Jalapeno
pepper Market Key Player:
Some
of the major players operating in Jalapeno pepper market includes
Vilore Foods Company, Inc. The Padilla Group, Inc., G. L. Mezzetta,
Inc, Seminis, Ricos Products Inc, The Kraft Heinz Foods Company and
Consolidated Mills Inc. other regional players.
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