Over
the past few decades, the world has witnessed a rapid growth in
veganism especially in the Asia Pacific, Europe, and the North
America regions. The confluence of factors such as the rise in
awareness about the health benefits on consumption of vegan products
and the consumers' desirability of adopting a healthier lifestyle has
been driving the consumers to shift into the vegan diet. Owing to
this factor, the products such as the pimento has been gradually
gaining traction among its target segments. Pimento and its various
formats such as the pimento extract has witnessed large scale
application in the pharmaceutical, cosmetics as well as in the food
industry.
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Owing
to the rise in awareness about health benefits associated with the
consumption of natural and organic food and beverages products, there
is rising in demand for the same over the past couple of decades.
Consequently, taking into account the fact that consumers' rising
preference for the natural food product, manufacturers are
increasingly looking out for natural ingredients no matters it's in
cosmetics, pharmaceutical or the food industry. Pimento Extract is
one such natural ingredient that is used in large scale in these
industries. In the food industry, Pimento Extract is famously used as
a stuffing for green olives, in pimento cheese and pimento loaf.
Pimento Extract is also used in the bakery as well as in the ice
cream segments. In the pharmaceutical industry, Pimento Extract is
also being used for flatulence, indigestion and cramps healing.
Pimento extract is also used as a preferred ingredient for the
production of several cosmetic products.
According
to internal analysis, the North America region is being considered as
the most attractive market for personal and organic cosmetic products
which sights an opportunity for Pimento Extract Market. Similarly,
for functional food ingredients market, North American and the
European regions have been considered as the dominant players which
have the potential to drive the global Pimento Extract Market.
Some
of the key players operating in the global
Pimento Extract market are B&G Foods, Inc., Synergy
Flavors, Spice Mountain LTD, Geneza, Naissance, Natures Flavors,
Inc., Lionel Hitchen Limited, Blue Pacific Flavors among others.
Major
shareholding companies for Pimento Extract have been expanding its
operation and presence through several critical acquisitions.
Moreover, the companies have been executing several promotional
strategies in order to bring awareness about its products and
services among its target segments.
In
2017, B&G Foods announced the acquisition of Back to Nature Foods
Company, LLC a leader in the better-for-you snack foods category,
from Mondel?z International and certain other entities and
individuals for approximately $162.5 million.
Naissance
has been active in online social media channel promoting its products
and services to its target customers.
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