). - Pickles and pickle products vary as per local taste and preferences and thus, many international, as well as regional players, are succeeding in this market by catering to the personalized needs of the citizens of a country.
New York, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Pickles and Pickle Products Market - Growth, Trends, and Forecast (2021 - 2026)" - https://www.reportlinker.com/p06009457/?utm_source=GNW
Large varieties, flavors, and major ingredients make this a huge market.
- The COVID-19 pandemic has led to surging demand for organic and sustainable foods across the globe. According to data from AI-powered food intelligence startup Tastewise, which tracks online consumer engagement, mentions of ‘immunity’ in the context of food searches rose 27% between February 2019 and March 2020. Kombucha, pickled vegetables and bitter melon are examples of grocery items that have specifically seen an uptick in interest since the onset of the virus, hence, this indicates a strong market growth during the forecast period.
- The price variation of raw materials and ingredients added to the preparation of pickles is one among the restrains in the pickles market. Therefore, in developing countries, like India, people are preferring more home-made pickles or pickles prepared by unorganized pickle industry, as it includes pure ingredients and can be customized on the basis of ingredients and packaging.
Key Market Trends
Increased Preference For Organic And Flavored Pickles
Globally, the market is largely influenced by factors, such as health benefits, taste enhancement, and the demand for pickles as a complementary product along with the main course of food. Furthermore, there has been a significant increase in the demand for natural/organic food products, including pickles, among consumers in recent years as they are becoming more aware of the adverse health effects associated with the consumption of various synthetic or artificial food ingredients that are used in non-complying quantities in food products, as per the government standards. In addition, food products made out of the ingredients, vegetables, and fruits are perceived to be healthy, as they contain more nutrients compared to other products that are made of meat, seafood, etc. Pickles are fat-free and low in calories, an average size dill contains only 15 calories, and an ounce of pickled pepper provides only 7 calories. The natural and organic claim products are soaring globally, and the concept has been invading other markets as well. Increased consumer demand for nutritious products and the rising clean-label claims on products accelerated the market growth in the region. Product launches with various label claims, such as “non-GMO” and “reduced sugar”, have been silently benefitting the customers over the years. For instance- In 2019, Gedney Foods Company, which produces and sells traditional, natural/organic, and clean-label pickles, launched an innovative full line of organic pickles where the Gedney production process allows the product to retain an incredible snap of crispiness and preserves the delicate flavor.
Asia Pacific Remains The Largest Market
Asia Pacific continues to lead the pickles and pickle products market, owing to its increased commercialization and industralization of pickle processing industry in developing countries like India. Additionally, the pickles market is expected to touch the highest CAGR during the predicted period, due to the accessibility of seasonal foods as pickles throughout the year. Moreover, the use of various pickled vegetables, fruits, seafood, and meat in the form of a meal accompaniment is projected to pave the way for the mushrooming growth of the pickles market in the Asia-Pacific region.
The market studied is highly fragmented, with a large number of regional, small-medium-scale players, and key global players operating in the market studied. The market is dominated by key players, like Conagra Brands Inc., Del Monte Foods Inc., The Kraft Heinz Company, and Orkla ASA, with The Kraft Heinz Company leading the global market share. Product innovation is the other prime strategy adopted by the leading players operating in the market. The market is poised to witness more innovations over the coming years, and going further, the industry might expect mergers and acquisitions. New product innovation is the key strategy adopted by these players. However, the global players are acquiring small and regional players for the broader reach of their pickles and pickle products. Hence, mergers and acquisitions also hold high prominence in the market. For Instance, in June 2018, Conagra Foods planned to acquire “Vlasic Pickles” from Pinnacle Foods for USD 10.9 billion. In order to sustain in the competitive environment, prevailing in the pickle industry, business activities, and constant developments are necessary to capture a greater market cap.
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