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Pickle Market - Positive Outlook for Industry Opportunities & Trends for Expansion in 2018

05-07-2018 04:10 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Pickle is form of a relish that is made up of either vegetables or fruits that is preserved in brine or vinegar. Pickles are made my immersing the fruits or vegetables in the brine or vinegar solution and stored for a period of time during which the ingredients goes through the pickling process and acquire the desired taste. Pickles are usually sweet or sour in taste and are often spicy. They acquire the taste of the key ingredient which is the vegetable or fruit of which the pickle is made. Pickles are consumed both as savory items as well as accompaniments with main courses especially in the Indian cuisine. The global pickle market is segregated on the basis of type, distribution channel and region. Based on type, the global market for pickles is segmented into fruit and vegetables. Fruit pickles are further sub-divided into mango, cucumber, orange and others. Vegetable pickles are further sub-divided into chili, cabbage, carrots, bell peppers and others. Fruit pickles held majority market share in 2016 and is anticipated to hold its dominant market share throughout the forecast period. Vegetable pickles are anticipated to witness the fastest growth rate during the forecast period of 2017-2025.

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This is attributed to increased demand for these types of pickles in the Asia Pacific region as an accompaniment with food during meals. Based on distribution channel the global pickle market is segregated into supermarkets/hypermarkets, departmental stores and convenience stores. Supermarkets/hypermarkets held majority market share in 2016 and is anticipated to hold its position throughout the forecast period. This is attributed to large scale business that they do which leads to bigger revenue generation. This segment is also anticipated to witness the fastest growth rate during the forecast period of 2017-2025 owing to repeat business that they do through customers.

Major drivers driving the global pickle market include health benefits that pickles offer. Apart from being a taste enhancer in everyday foods, pickles also have numerous health benefits which is triggering market growth globally. Pickles are proven antioxidants which prevents free radicals to attack the human body. They also help in digestion as they have probiotic properties in them. They are also a source of natural nutrients such as iron, vitamin, calcium, potassium and others. They are also proven to be reducing ulcers and provide protection. Therefore, they are driving the market positively. In addition, rising awareness about GMO products is also triggering market growth for organic pickles. The growing awareness about the harmful effects of GMO products is shifting the demand trends towards organic pickles which is in turn, triggering market growth. Lack of use of preservatives in organic pickles reduces their shelf-life due to which they cannot be stored for a longer period of time. This is acting as a major restraint to the global pickle market. Rising demand for pickles in countries of Asia Pacific and Middle East & Africa will provide great opportunity to the global pickle market.

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Geographically, the global market for pickles is segregated to North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America and Latin America combined makes the most dominant region in the global market for pickles. This is attributed to larger consumption of pickles among the consumers in North America due to their differentiating taste and taste enhancing capabilities. Asia Pacific is anticipated to witness the fastest growth rate during the forecast period owing to increased demand for pickles among consumers as a savory product and also as food enhancers. Developing nations such as China and India are showing substantial growth rate in this region.

Major players of the global pickle market include ADF Foods (India), Del Monte Foods (U.S.), Mt. Olive Pickle Company (U.S.), Kraft Foods Inc. (U.S.), Reitzel International (Switzerland), Pinnacle Foods, Inc. (U.S) and Mitoku Company, Ltd. (Japan) among others.

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