Crushed red pepper or commonly known as red pepper flakes is a spice that consists of peppers in dried and crushed forms. The market for crushed red pepper is vast because there are a number of pepper varieties available that the commercial crushed red pepper producers can use as the base raw material. The cayenne type peppers are the most commonly used ones. Crushed red pepper is either based on a specific red pepper variety of a blend of multiple red pepper varieties. Another segment of crushed red pepper type arises just by the addition of seeds for additional flavour and hotness. Some manufacturers also provide the crushed red pepper in different flavours. This explains the vast market for crushed red pepper which offers different crushed red pepper to satisfy all kinds of customer needs by providing the right amount of hotness or colour or flavour in their spicy crushed red pepper products.
Increasing Demand for Crushed Red Pepper in Pizzerias and Restaurants
In households, crushed red pepper is a staple condiment. Besides their use in households, most of the produced crushed red pepper goes through the indirect supply chain for consumption at pizzerias or other fine dining restaurants as a seasoning agent. The number of outdoor eating outlets is increasing at a fast pace, particularly in the developed regions such as the United States and for such reasons, the crushed red pepper demand is increasing. Also, the demo graph of working individuals and more specifically working women is increasing. With no time to spend on the kitchen, they are willing to spend more on confectionery food served in restaurants (away from home) which is, in turn, is driving the demand for crushed red pepper by the chefs. Not only in present, but this demand is likely to grow in coming years as well. This sets a stable record of growth for crushed red pepper market. Although this growth for crushed red pepper might be suffering from the point of saturation and stagnancy regions like the United States or Western Europe, it still foresees an opportunity to grow in other regions such as the Asia Pacific and MEA.
Crushed Red Pepper Market: Segmentation:
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Crushed Red Pepper Market: Key Participants
Examples of some of the market participants in the crushed red pepper market identified are McCormick & Company, Inc., TABASCO, Olde Virdens, Sullivan Street Tea & Spice Company, Red Stick Spice Company, Atlantic Spice Company, driedredpepper.com a subsidiary of Bling Power Network Inc. and many others.
Crushed Red Pepper Market: Key Developments
The global spice industry is majorly restrained by factors such as contamination and adulteration. The market for crushed red pepper is not left untouched by it. Hence, the government is investing heavily in developing key tests and regulatory standards for pure and unadulterated crushed red pepper production to gain customer satisfaction.
McCormick & Company, Inc. is one of the key company involved in crushed red pepper production. It is trying to gain a larger market share in the market with major acquisitions and mergers. On the other hand, it is developing in the market for crushed red pepper by launching new products in its crushed red pepper product portfolio. For instance, in the month of September 2017, it announced the launch of 40 new products. Crushed Red Pepper Oregano and Garlic, a type of flavoured crushed red pepper was one among them.
Opportunities for Crushed Red Pepper Market Participants
The market for crushed red pepper foresees a great opportunity in the Europe market where companies are constantly looking for trustworthy suppliers that can offer organic and sustainable supplies of crushed red pepper that meet with their safety standards and help them meet consumer demands. Besides that the market sees great opportunities with organic production and manufacturing processes as the demand for the organic segment in food and beverages is increasing worldwide.
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