Pickles Industry Research Report Predicts Impressive Growth by 2023
Pickles are made of fruits and vegetables by adding salt and spices as well as reducing moisture. It is widely consumed as a savory or a side dish. Its lifespan is increased by reducing moisture and increasing acidity. Market Research Future (MRFR)’s analysis highlights that the global pickles market is expected to strike a steady growth pace over the forecast period 2018 to 2023.
Key players are focusing on innovation, which has led to the growth in demand for meat and seafood pickles. It is likely to gain quick mileage over the next couple of years. Also, the growth of the food & beverage industry is anticipated to motivate the growth of the Pickles Industry in the years to come. It is expected to gain further momentum as an accompaniment meal over the next couple of years.
The advantages offered by pickles in digestion is expected to boost its demand generation in the nearby future. Increasing awareness about the same is likely to have a positive influence on the expansion of the market. However, volatility in the price of raw materials is poised to pose a challenge to market players in the forthcoming years.
Market Segmentation:
On the basis of type, the global pickles market has been segmented into vegetable pickles, fruit pickles, meat and seafood pickles, and others.
On the basis of packaging type, the global pickles market has been segmented into pouches, tubs, jars, and others.
On the basis of distribution channel, the global pickles market has been bifurcated into store-based and non-store-based. The store-based segment is sub-segmented into convenience stores, supermarkets and hypermarkets, specialty stores, and others.
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Regional Analysis:
The global pickles market, for a detailed geographical analysis, has been segmented into four key regions - North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to dictate the future trajectory of the global market and grow rapidly in the years to come. The growth of the food & beverage industry of the region is anticipated to support the growth curve of the pickles market in the region over the next couple of years. Pickles are widely consumed in the region as a side along with convenience food. The growing demand for convenience food owing to the adoption of a sedentary lifestyle by the majority of the population is poised to drive the proliferation of the pickles market in the region across the assessment period. In addition, the increasing demand for pickles as an ingredient in dishes such as burgers, sandwiches, etc. is projected to catapult pickles market on upward trajectory.
Pickles witness high demand across the country-level markets in Asia Pacific. The region is also anticipated to earn remarkable revenue from the export of pickles over the next couple of years. Asia Pacific observed the availability of a wide range of seasonal fruits and vegetables. The flourishing agriculture sector of the region is forecasted to support the acceleration of the pace of growth of the pickles market in the years to come. The regional segment is anticipated to strike the highest CAGR over the forecast period. The increasing disposable income of the region has led to rising demand across the food & beverage industry. This, in turn, is poised to propel the growth of pickles market in the region over the next few years. In addition, the adoption of western food culture is also expected to boost the demand for pickles as a side dish in the forthcoming years.
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Competitive Dashboard:
The key players of the global pickles market studied in this MRFR report are Del Monte Food, Inc. (US), Pinnacle Foods Inc. (US), ADF Foods Ltd (India), the Kraft Heinz Co. (US), Mt Olive Pickles (US), Mitoku Co., Ltd (Japan), Hugo Reitzel (Switzerland), and Peter Piper’s Pickle Palace, Inc. (US).
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