As per the latest report by IMARC Group, titled “Black Pepper Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global black pepper market size reached US$ 3.6 Billion in 2018. Black pepper is a strong and hot-tasting spice, which is produced from dried and ground peppercorns. It belongs to the Piperaceae family and is widely known as the king of spices owing to the high content of antioxidants, carotenes, flavonoids and vitamins A and C. It stimulates digestion, improves blood sugar control, lowers cholesterol levels and has anti-inflammatory properties. Black pepper is also useful in curing neuralgia, scabies, stomach infections, bronchitis and vitiligo.
Global Black Pepper Market Trends:
Although mostly used in savory dishes, black pepper is also gaining traction as a taste booster in sweets and bakery products. The burgeoning food and beverage industry, along with the increasing consumption of bakery, fried, confectionery and ready-to-eat (RTE) food products, such as cakes, chocolates and garlic bread, is boosting the overall sales of black pepper around the world. Apart from this, the rising demand for natural flavor enhancers is also propelling the market growth. Moreover, owing to its antibacterial and antioxidant properties, black pepper is widely used in the production of numerous skincare products. With the rising health awareness among consumers about the benefits of black pepper, it is further being included in the daily diet. Apart from this, it is also used by smokers to minimize nicotine cravings. Looking forward, the market value is projected to reach US$ 4.9 Billion by 2024, expanding at a CAGR of 5.5% during 2019-2024.
- Based on the product, the market has been segregated into Brazilian, Lampang, Malabar, Sarawak, Talamanca, Tellicherry and Vietnamese black pepper.
- On the basis of the source, the market has been bifurcated into organic and inorganic black pepper. At present, inorganic black pepper exhibits a clear dominance in the market.
- The market has been analyzed on the basis of the form into ground, rough cracked and whole black pepper. Ground black pepper currently accounts for the majority of the total market share.
- Based on the distribution channel, the market has been divided into offline and online segments. Presently, the offline segment holds the biggest market share.
- On the basis of the application, black pepper is widely utilized in the food and beverage sector. Other major sectors include pharmaceutical, personal care and others.
- Region-wise, Vietnam represents the largest market. Other major regions include Indonesia, India, Brazil and Malaysia.
- The competitive landscape of the market has been examined with some of the key players being Baria Pepper (SAIGON HANOI IMEXCO LTD.), McCormick & Company, Inc., Everest Spices, Olam International Limited, The British Pepper & Spice Company Limited, Catch Foods (DS Group), Mahashian Di Hatti (MDH) Private Limited, Viet Delta Co., Ltd., Agrifood Pacific Company, Webb James SRL, Brazil Trade Business Group, Visimex (NIC GROUP), Indian Valley Foods Pvt. Ltd., DM AGRO FARMS and Pacific Production.
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