Global production of green pepper has been steadily expanding over the past couple of years due to its growing application in the food and beverage sector. Compared to white and black pepper, green pepper has a lower penetration. Green pepper is usually available in either brine or vinegar mixture that prevents it from getting spoiled. However, pure form of green pepper is also popularly consumed in many countries. The product is used as a natural preservative in various processed food items and is rich in potassium, vitamin-C, iron, manganese and dietary fibers. In addition, green pepper has antioxidant properties – making it popular among consumers who seek to maintain a healthy diet. Green pepper is also beneficial in treating as well as preventing cancer, liver, and cardiovascular diseases. Moreover, increasing demand for exotic hot cuisines and rare green pepper variants is projected to positively impact the green pepper sales in the near future. According to the latest report published by Fact.MR, the global market for green pepper will expand at little under 4% CAGR during 2017 and 2022 to reach a valuation of around US$ 486.6 Mn.
Following points from Fact.MR’s global market for green pepper forecast will be crucial for market’s future prospects
- On the basis of form, the ground green pepper segment is expected to remain dominant throughout the assessment period. Currently, this segments holds close to 40% market share in terms of revenue. Over US$ 200 Mn worth ground green pepper is likely to be sold worldwide. Between 2017 and 2022, the segment is anticipated register an above average CAGR.
- Among regions, Europe will continue to be the most lucrative market for green pepper during the forecast period. The region currently commands for the largest revenue share of the global market. The market is projected to increase at close to 5% CAGR over the next five years.
- Demand for organic green pepper will be relatively higher as compared to the conventional variant during the forecast period. Rising preference for organic products and growing consumer awareness about health benefits of organic ingredients is boosting the demand for organic green pepper.
- In recent years, application of green pepper has expanded exponentially across industries. The Fact.MR report mentions the food and beverage application segment will continue to command for the dominant share of the market over 2022. In addition, the food & beverage segment currently accounts for around 27% revenue share of the market.
- On the basis of distribution channels, the modern trade segment is expected to surpass a market valuation of US$ 176 Mn over 2022. Currently, the segment accounts for over 35 % revenue share of the market.
Key players mentioned in Fact.MR’s report include Associated British Foods (Ach), Beidahuang Group, Bunge Limited, Fuji Vegetable Oil, Inc., Ach Food Companies, Inc., Marico Limited, Ruchi Soya Industries Ltd, The Adani Wilmar Ltd., Archer Daniels Midland Company, Cargill, Inc., ConAgra Foods (Agrotech Foods Ltd), Olympic Oils Limited, Borges Mediterranean Group, Adams Group, and American Vegetable Oils, Inc.
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