August 14, 2019 by Amanpreet
Turkey’s one of the fast growing businesses is the pepper trade. While the population in countries such as Turkey, Spain, and Greece consume green pepper and other varieties in every possible variation, research reveals that the entire Mediterranean region includes green pepper in the daily local menu. Looking at sustained consumption of green pepper in this regional territory and surging popularity of green pepper in other regional markets for its vitamin and nutrient rich content will continue to create attractive opportunities for green pepper producers over the next few years.
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With demand for green pepper on a steady rise, the growth prospects for the global green pepper market remain moderate over 2017-2022. Growing incorporation of green pepper in a heap of culinary products will continue to translate into a promising sales revenue of green pepper market over the next few years. However, although green pepper that is prominently found in brine mixture or vinegar, it represents lower market penetration compared to white and black pepper. Excellent preservative characteristic of green pepper enables it to be used widely as a premium quality natural food preservative, pushing adoption among food processors and processed food manufacturers for applications such as freezing and canning.
High antioxidant nature of green pepper will continue to enable it to be in high demand among the health conscious consumer base, whereas increasing recommendation for the use of green pepper in dietary regime of patients afflicted by cancer, liver, and cardiovascular conditions. Leading food innovation experts and chefs are also increasingly including green pepper and its rare varieties in designing new exotic cuisines, which is expected to further propel the sales revenue of green pepper over the next few years. Growing awareness about high calcium, potassium, iron, dietary fiber, manganese, and vitamin C content of green pepper is also likely to fuel the demand at a steady rate.
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By the form of green pepper available in the market, the global revenue sales of ground green pepper is anticipated to exceed the value of US$ 200 Mn towards the end of 2022. Similarly, the sales of organically sourced green pepper will continue to outweigh conventional green pepper throughout the forecast period, attributed to escalating consumer inclination towards organic food ingredients. A majority of revenue is expected to be brought in to the green pepper market through modern trade, estimated to account for a value of over US$ 175 Mn by 2022 end.
With an estimated 5% CAGR over the next five-year period, Europe’s market for green pepper will continue to lead in the global green pepper market through 2022. Decent demand from German, Spanish, Scandinavian, and Eastern European territories will continue to contribute the highest share to Europe’s green pepper market.
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