Global Pepper Ingredient Powder - Market Outlook
Pepper is used as a spice from ancient times and has strong antioxidant properties. The pepper oleoresins are known to maintain these antioxidant properties are therefore commonly used in both foods as well as pharmaceutical industries. Black pepper (Piper nigrum) and long pepper (piper longum) are the widely loved species and are possibly one of the world's best-known spices.
The oleoresin of the pepper has antioxidant and anti-inflammatory properties. Furthermore, due to the aromatic properties of pepper oleoresin, it has several applications, especially for aromatherapy.
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Unique pepper flavor gaining popularity
Flavors have a large share in the food industry as a whole and are on the verge of a huge production. Growth of the flavors market is driven by evolving customer preferences, rising demand for convenient food and improving the global beverage industry in terms of packaging and, for example, healthy logistics
Considering health and wellness problems, the demand for natural ingredients is expected to increase significantly. North America and Europe dominate the overall market. New companies entering the ingredient market will find it extremely competitive and will have to compete not only on cost but also on innovation and quality.
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Wide application in the food industry is boosting the demand if pepper ingredient
Major drivers of the pepper ingredient market is increased demand for packaged foods and beverages, increased demand in various food applications, and the rising popularity of exotic flavors.
The consumer concern about the long-term health effects of artificial ingredients and additives in food products has increased the demand for natural and safe ingredients in food products, which mainly drives growth in the market for pepper ingredient.
Another growing trend in the ethnic food category is the availability of exclusive food ingredients and seasonings. The millennial who currently dominate the food room is known to enjoy food filled with flavor and out of the ordinary products
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Global Pepper ingredient market – Segmentation
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Global Pepper Ingredient Market – Key players
Some of the key players of the global pepper ingredient market are Kancor Ingredients Limited Plant Lipids (P) Limited, McCormick & Company, Inc, AOS Products Private Limited. Ungerer & Company, Vidya Herbs, IndoVedic Nutrients Pvt. AVT Natural Products Limited and others. Manufacturers focus on the constant production of new products such as essential oils, and fragrances. Companies are also working on creative pepper powder packaging to increase sales.
The major companies in ingredient manufacturing place their product line in the global market as a strategy for directly entering the consumer market through multiple retail outlets, convenience stores, and e-commerce platforms.
Impact of COVID-19 on global pepper ingredient market
Due to the longer shelf life, the market for packaged and processed foods is expected to grow. Also, manufacturers track closely the distribution of the commodity to major retailers via specialized communication networks to enhance the restocking process. Furthermore, packaged food manufacturers have advised both the suppliers of ingredients and contract packagers to ensure steadiness
The need for accountability in food space has driven businesses to clean up their production processes to appeal to customers. The primary sectors of the manufacturing industry suffered during COVID-19. Their major obstacles were lower demand and fragmented supply chain. Post pandemic era, developing and adapting over time will be important for manufacturers to stay sustainable.
The shutdown brought the manufacturing plants to a standstill that threatened the entire global supply chain. In the current situation, food ingredients suppliers face reduced demand as well as supply chain problems.
The high demand of oleoresin creating space for new entrants
According to the trend of usage and use, Europe is the largest producer and consumer, accounting for more than half of the global intake led by North America and the Asia Pacific. India is Asia Pacific’s largest pepper producer, but pepper oleoresin use is more prevalent in Europe and North America.
Europe is the largest spice and herbal extract market worldwide. Given low demand, Europe is focusing on importing spice, herbs, and their extracts from developing regions such as Asia-Pacific and the Middle East and Africa.