Capsicum Market Expected to Hit US$ 6.8 billion by 2031: Levarht, Lipman Family Farms, J&J Family of Farms Corporate.

Capsicum Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Capsicum market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Capsicum market from 2024 to 2031, and what is the market value expected to change by 2031?

The Global Capsicum Market reached US$ 4.8 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 6.8 billion by 2031. The market is growing at a CAGR of 4.5% during the forecast period 2024-2031.

What is Capsicum Market?

Capsicum refers to a genus of flowering plants in the nightshade family Solanaceae, known for producing various types of peppers, including bell peppers, chili peppers, and other hot and sweet varieties. Native to the Americas, capsicums are cultivated worldwide as vegetables and spices and are commonly used in cooking for their flavor and color. They are rich in vitamins A and C, antioxidants, and capsaicin-a compound that adds heat to some pepper varieties and is studied for potential health benefits. Varieties of capsicum range in spiciness, which is measured by the Scoville Heat Scale.

Growth Driver

The growing food industry is indeed a significant driver of the capsicum market. As consumer interest in nutritious and flavorful foods grows, manufacturers are increasingly incorporating capsicum in sauces, seasonings, and condiments. Capsicum adds not only color and flavor but also nutritional benefits, as it is rich in vitamins A and C, antioxidants, and anti-inflammatory compounds. The popularity of capsicum-based products caters to a health-conscious consumer base looking for convenient yet nutrient-dense options. This shift in consumer preference, coupled with expanding processed food applications, is anticipated to further propel capsicum market growth over the coming years.

Key Players:

Profiles of some of the major players in the global Capsicum market, which include:

Levarht, Lipman Family Farms, J&J Family of Farms Corporate, Pero Family Farms Inc., Oakes Farms, Southern Paprika Limited (SPL), Fruit Farm Group., GK Fresh Greens, Titan Farms Inc., and Lewis Taylor Farms.

Industry Development:

On October 3, 2022, researchers at Sher-e-Kashmir University launched new varieties of colored capsicums noted for their significant medicinal properties and high antioxidant content. These capsicums, available in shades like red, yellow, and green, are developed to boost the crop's health benefits, adding value beyond their nutritional contributions. The introduction aims to support both agricultural diversification and health-conscious consumers, highlighting the role of antioxidants in combating oxidative stress and inflammation. This innovation underscores the university's focus on agricultural research to improve crop quality and meet market demand for functional foods.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Capsicum market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

By Form: Powder, Oleoresin, Whole.

By End-User: Food, Pharmaceuticals, Cosmetics

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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