Green Pepper Market Analysis with Growth Forecast during 2017-2022

Green pepper is referred to the dried berries of a plant known as capsicum annuum, which is a subspecies of genus capsicum plant native to northern South America and southern North America. While in other parts of the world it commonly goes by the name capsicum or pepper, in America, green pepper is also called as bell pepper. In many instances, other hot pepper or chili peppers that are green in color are also considered as green pepper.

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The global green pepper output has soared substantially owing to its increasing use in a wide range of food products. However, green pepper still accounts for a lower market penetration as compared to black and white pepper. Mostly, green pepper is available in vinegar or brine mixture, which prevents it from spoilage but sometimes it is directly sold without any additional condiment. Green pepper is considered as an excellent natural food preservative and is rich in dietary fibers, manganese, iron, vitamin-C, and potassium. Moreover, the product also has antioxidant properties, which is further driving its popularity among consumers who are highly health conscious. Green pepper can also help in preventing liver, cardiovascular, and cancer diseases. In addition, rising demand for different hot pepper varieties and exotic hot cuisines is expected to make a favourable impact on the global sales of green pepper.

Following points from Fact.MR’s global market for green pepper forecast will be crucial for market’s future prospects
1) On the basis of form, the ground green pepper segment is expected to remain dominant throughout the assessment period. Currently, this segments holds close to 40% market share in terms of revenue. Over US$ 200 Mn worth ground green pepper is likely to be sold worldwide. Between 2017 and 2022, the segment is anticipated register an above average CAGR.

2) Among regions, Europe will continue to be the most lucrative market for green pepper during the forecast period. The region currently commands for the largest revenue share of the global market. The market is projected to increase at close to 5% CAGR over the next five years.

3) Demand for organic green pepper will be relatively higher as compared to the conventional variant during the forecast period. Rising preference for organic products and growing consumer awareness about health benefits of organic ingredients is boosting the demand for organic green pepper.

4) In recent years, application of green pepper has expanded exponentially across industries. The Fact.MR report mentions the food and beverage application segment will continue to command for the dominant share of the market over 2022. In addition, the food & beverage segment currently accounts for around 27% revenue share of the market.

5) On the basis of distribution channels, the modern trade segment is expected to surpass a market valuation of US$ 176 Mn over 2022. Currently, the segment accounts for over 35 % revenue share of the market.

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Europe’s Leadership in the Global Green Pepper Market to Remain Unchallenged
In terms of revenue, Europe currently dominates the global green pepper market and the trend is projected to continue in 2017 and beyond. Europe’s green pepper market is expected to grow at a CAGR of 4.9% over the forecast period.

Organic green pepper will continue to outperform the conventional variant in terms of sale during the next five years. This is primarily owing to increasing consumer demand for organic products as they are healthier and usually do not have any risks of side-effects.

Competition Tracking
The Adani Wilmar Ltd., Associated British Foods (Ach), Ruchi Soya Industries Ltd, Beidahuang Group, Archer Daniels Midland Company, Borges Mediterranean Group, Cargill, Inc., Bunge Limited, Adams Group, Fuji Vegetable Oil, Inc., American Vegetable Oils, Inc., Ach Food Companies, Inc., Olympic Oils Limited, Marico Limited and ConAgra Foods (Agrotech Foods Ltd) are the key companies profiled in the Fact.MR’s report.

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This release was published on openPR.