Black Pepper Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Olam International Limited, Ajinomoto Co. Inc., Givaudan SA, Sinochem Hebei Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Black Pepper Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $4.9 billion In 2028 At A CAGR Of 6.1%.

The black pepper market size has grown strongly in recent years. It will grow from $3.61 billion in 2023 to $3.86 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to culinary uses and flavor enhancement, traditional medicine and health benefits, globalization of food culture, growing popularity of ready-to-eat and convenience foods, increasing consumer awareness of natural ingredients.

The black pepper market size is expected to see strong growth in the next few years. It will grow to $4.9 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising interest in ethnic and exotic cuisines, health and wellness trends driving functional foods, exploration of black pepper in non-food applications, global expansion of foodservice and restaurant chains, sustainable and ethical sourcing practices. Major trends in the forecast period include product innovations, traceability and transparency in the supply chain, culinary exploration and ethnic flavor preferences, focus on sustainable and ethical sourcing, health and wellness positioning in marketing.

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Black Pepper Market Major Segments
The black pepper market covered in this report is segmented -

1) By Product: Brazilian Black Pepper, Lampang Black Pepper, Malabar Black Pepper, Sarawak Black Pepper, Talamanca Black Pepper, Tellicherry Black Pepper, Vietnamese Black Pepper
2) By Source: Organic, Inorganic
3) By Form: Ground Black Pepper, Rough Cracked Black Pepper, Whole Black Pepper
4) By Distribution Channel: Direct Sales, Supermarket, Convenience Stores, Specialty Store, E-Commerce, Other Distribution Channels
5) By End-Use: Pharmaceuticals, Food And Beverages, Personal Care, Other End Uses

Key Driver - The Black Pepper Revolution In The Culinary World

The growing penetration of the fast-food industry is expected to propel the growth of the black pepper market going forward. The fast-food industry refers to a segment of the food service sector that focuses on providing quick and convenient meals to customers. Black pepper is a commonly used spice in the fast-food industry for adding to various menu items to enhance flavor and give a spicy kick, versatile spice, a strong flavor, and a natural preservative, which makes fast food tastier. For instance, in October 2022, according to the reports shared by Visual Capitalist., a US-based online publishing company, the US Fast food business's worth was $331.4 billion in 2022. Furthermore, in 2023, according to Budget Branders, a US-based restaurant products supply company, in the US, people will spend $200 billion on fast food annually, or 2.2% of US people's fast-food consumption, and 50 million Americans will eat fast food daily. Moreover, the fast-food industry is expected to reach $931.7 Billion in 2027. Therefore, the growing penetration of the fast-food industry is driving the growth of the black pepper market.

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Prominent Trend - Innovative Trends In The Black Pepper Market: Next-Gen Extracts Revolutionize The Industry

The development of next-generation black pepper extracts is a key trend gaining popularity in the black pepper market. Major companies operating in the black pepper market are developing innovative, advanced black pepper extraction methods to sustain their position in the market. For instance, in March 2023, Natural Innovations Group, an Australia-based biotechnology company, developed PhytoCann BP, a next-generation black pepper extract enhanced with terpenes and other compounds. This makes it a more effective carrier for other ingredients. It is made from black pepper grown in the mountains of Sulawesi, Indonesia. The pepper is extracted using a proprietary process that preserves the beneficial compounds in the pepper. The extract is then titrated and other terpenes to create a product demonstrating activity. Additionally, it has provided such benefits as improved absorption of nutrients, enhanced cognitive function, reduced inflammation, improved sleep quality, and increased energy levels.

Black Pepper Market Players
Major companies operating in the black pepper market report are Olam International Limited, Ajinomoto Co. Inc., Givaudan SA, Sinochem Hebei Corporation, doTERRA International LLC, Catch Group, Robertet SA, Synthite Industries Private Ltd., Everest Food Products Pvt Ltd., DS Group, Jabs International Pvt. Ltd., Mahashian Di Hatti Private Limited, British Pepper And Spice Co Ltd., Webb James S.r.l., Visimex Corporation, Kancor North America Inc., Gupta Trading Company, McCormick And Company Inc., Pacific Production Services Inc., Baria Pepper Co Ltd., Aromaaz International Private Limited, Indian Valley Foods Pvt Ltd., S&S Flavors Inc., American Spice Trading Co., Agrospice Brasil, DM Agro Products Private Limited.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the black pepper market in 2023. The regions covered in the black pepper market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Black Pepper Market Report Structure
3. Black Pepper Market Trends And Strategies
4. Black Pepper Market - Macro Economic Scenario
5. Black Pepper Market Size And Growth
…..
27. Black Pepper Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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