Packed Pickles Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
global packed pickles market size is expected to reach
USD 10.1 billion by 2025, according to a new report by Grand View Research,
Inc., registering a 3.5% CAGR over the forecast period. Increasing demand for
cross-cultural cuisines on a global level has played a crucial role in expanding
the market scope of packed pickles over the years. Innovative flavors in the
premium category is a lucrative opportunity for players to capitalize on
through 2025.
On the basis
of product, the fruits segment dominated the market in 2018 with a share of
over 46.0%. Fruits such as peaches, pears, mangoes, apples, olives, grapes and
currants, and various berries are used to make a variety of packed pickles.
Unripe or raw fruits soaked in a vinegar solution or sugar syrup have a
distinctive taste and texture. Often, spices such as cloves, cinnamon, and
allspice are added in the preparation of fruit-based pickles to elevate the
flavor. The vegetables segment is projected to exhibit the fastest growth over
the course of the forecast period. Rising awareness about the health benefits
and nutritional properties of these packed pickles is expected to fuel demand
in the coming years. These products are rich in antioxidants, aid in weight
management, and ease muscle cramps.
In 2018,
jars held the largest share in the market based on packaging solution,
accounting for more than 65.0% of the global revenue. Jars and bottles are
easier to store and are more cost-effective. On the other hand, the pouches
segment is expected to witness a significantly high growth rate in the near
future. Increasing demand for flexible and convenient packaging in the food
industry is anticipated to accelerate segment in the coming years. Pouches also
serve as refill packs and consumers looking to experiment with new flavors
often prefer purchasing smaller portions rather than an entire jar.
Based on
distribution channel, the market can be segmented into convenience stores,
supermarkets and hypermarkets, specialty stores, and online. Accounting for a
little over half the market revenue, supermarkets and hypermarkets held the
dominant share in 2018. Convenience, wide range of options, and various offers
and discount coupons are some of the benefits consumers reap by shopping at
these retain chains. The online channel is anticipated to witness the strongest
growth over the forecast period thanks to a booming e-commerce sector.
Geographically,
North America held the largest share in 2018, followed by Asia Pacific. In
North America, pickled olives and cucumbers are the most common variants
consumed and are also used in several fast foods such as burgers and hot dogs.
The APAC market is primarily driven by the fact that pickles form a part of
daily meals in most households, particularly in India. Middle East and Africa
is poised to witness the fastest growth through 2025.
Key players
in the market include Pinnacle Foods, Inc.; ADF FOODS LTD; The Kraft Heinz
Company; Reitzel S.A.; Mt Olive Pickles; Del Monte Foods, Inc.; Mitoku Company,
Ltd.; Peter Piper’s Pickle Palace, Inc.; Orkla ASA (MTR Foods); and Nilons
Enterprises Pvt Ltd. Product innovation is expected to remain a key strategy
among manufacturers of packed pickles over the next few years.
Further key
findings from the report suggest:
- By product,
packed fruit pickles held the largest share in the market in 2018, while
vegetables are expected to exhibit the highest growth over the forecast
period
- Pouches are
projected to register the highest CAGR among other packaging solutions,
fueled by the ease and convenience they offer
- On the basis of
distribution channel, supermarkets and
hypermarkets enjoyed the dominant position, with online portals likely to witness significant growth over the coming years - Based on
geography, North America held the largest market share in 2018. On the
other hand, Middle East & Africa will exhibit the fastest CAGR of 6.6%
from 2019 to 2025. Increased concentration of immigrants from South Asia
in Gulf countries such as Saudi Arabia, UAE, and Qatar is expected to
remain a key favorable factor for the industry.
Access
full research report on global packed pickles market:
www.grandviewresearch.com/industry-analysis/packed-pickles-market
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Created on Dec 30th 2019 08:52. Viewed 245 times.