White Pepper Market Analysis by Size & Share by 2022
The global white pepper market experiences growth opportunities which can be attributed to the pungency along with their aroma owing to which they are used in different applications. It is used in food items, to impart a typical aroma and taste to the food item and is a much preferred choice than black pepper. It also has several health benefits, such as it facilitates proper digestion owing to higher hydrochloric acid secretion, it reduces the chances of cancer as well as is a good anti-oxidant. These characteristic features have propelled its use in the nutraceutical industry. Moreover, since it comes from a natural origin, it is more often used as a natural enhancer to add value to flavors. However, some factors pose challenge to the growth of the white pepper market, such as its side effects of developing skin rashes when used directly on skin along with price fluctuations can hamper the growth of the white pepper market. The global white pepper market is expected to witness a CAGR of 3.7% over the forecasted period of 2012 to 2022.
The research report on global white pepper market also follows a detailed market segmentation which includes all the vitals governing the market. Below is a detailed segmentation of the market.
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Europe Expected to the Most Dominating Region Among Others
The global white pepper market is consumed on a larger scale in the European region, making it the most lucrative region for the white pepper market. Following Europe, Asia Pacific excluding Japan, seems to be the second most vital region in terms of market attractiveness. The region is characterized by both producers as well as consumers whereas Europe is a major consumer region. North America shows steady growth owing to less consumption compared to Europe. Moreover, the cosmetic industry and the food industry in Europe seems to have significant growth, hence positively influencing the white pepper market from a global perspective.
Online Segment Reflects Higher Growth Rate in the Forecasted Period
The online segment in the distribution channel analysis is expected to witness higher growth rate owing to several aspects. The prominence of this segment is increasing, however, it shows a less market revenue share. It is expected to reflect a CAGR of 4.5% over the forecasted period of 2017 to 2022. In competition with this segment, the grocery stores segment is second in line with not much difference in the CAGR, yet it holds a higher revenue share in the market as compared to the online segment. The other distribution channels are poised to grow at moderate to sluggish pace owing to the rise in the online and grocery stores segments. These segments are also expected to enjoy huge gain in the BPS while other segments are experiencing loss in the BPS since couple of years. The grocery stores segment possess higher market revenue share since it was established earlier as compared to the online stores segment.
Conventional Segment by Product Type Experiences Loss in BPS
The organic segment by product type has gathered significant market share by revenue since past couple of years and also reflects a comparatively higher growth rate than the conventional segment. The conventional segment is expected to witness a loss in BPS, the number being more than 60 by the end of 2022 and on the contrary the organic segment enjoys a higher BPS during the same period. The CAGR of organic segment is 4% during the forecasted period of 2017 to 2022, as per market observations.
Personal Care Segment to witness higher CAGR in the Forecasted Period
The food and beverage segment is an attractive segment for the white pepper market. Moreover, the personal care segment has taken good pace and is expected to reach a CAGR of 3% in the forecasted period of 2017 to 2022. It also experiences a higher gain in the BPS by the end of 2022. Other segments show moderate growth rate in the period of forecast.
Competitive Intelligence: Understand Who All Are Serving
The research report includes a competitive landscape chapter which details out all the important key players in the market. The product portfolios, innovations, expansion strategies, global presence, mergers or acquisitions, etc., of these players in included in the study giving a detailed outline of the major players. Key players in the global whute pepper market include Everest Spices Company, McCormick and Company Inc., The British Pepper and Spice Co. Ltd., Kancor Ingredients Ltd., Ajinomoto co. Inc., and Olam International limited.
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