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Spices have been an integral part of human diet that have significant therapeutic potential against various ailments. Chili peppers are one of the most common spices used for their strong flavor and pungent aroma. In the recent years, pepper extracts are increasing in popularity for their use in food & beverage industry as a flavoring and coloring agent and even in a range of hot sauces. Some pepper extracts are gaining momentum among fiery food chains, ranging from 1 million Scoville units to as high as 16 million Scoville units. With emerging trends of fusion of global cuisines, pepper extracts are expected to witness elevating demand for their application in foods all over the world.

Pepper Extracts Market – Notable Developments

Ashley Food Company, LAMEIZI, Guangdong Maodegong, Guilin Huajiao, Daesang Group, Armadillo Pepper, Laoganma, Sichuan Fansaoguang, and Foshan Haitian Flavouring & Food Co. Ltd. are among the key players operating in pepper extracts market.

  • In October 2018, Daesang Group, South Korea’s food-producing conglomerate and a leading player in pepper extracts market, announced that it has signed a contract to transfer the company’s lysine technology to Chengfu Group of China in 10 billion won deal. The two firms are planning to expand their alliance in other chemicals beyond lysine. In November 2016, the company completed 99.99% acquisition of Duc Viet Food Joint Stock Company, a Vietnamese meat processor and distributor, in a $32 million deal.
  • In October 2018, the Ashley Food Company introduced its new product – Mad Dog 357 Pain on a Chain – specially designed silver vial containing one gram of hottest ground pepper with a gasket-lined cap. According to company, it is developed to solve the consumers’ dilemma for instant seasoning, which is attached to a key chain, is convenient, and better alternative to bulky sauce bottles.
  • In September 2018, Laoganma, the world-renowned Chinese chili sauce brand, introduced a clothing range on its Tmall flagship store, in an effort to attract new generation of customers, after its logo appeared on a hoodie at New York Fashion Week.

Pepper Extracts Market Dynamics

Pepper extracts are being combined with a variety of dishes to increase the complexity, authenticity, and depth of flavor. Increasing interest among global consumers in spicy and tangy foods is considered to be one of the key factors influencing the development of pepper extracts market. According to a 2018 Flavorcon report on ‘The World of Specialty Chili Peppers’, 1 out of 5 Europeans and 1 out of 4 Americans are consuming spicy foods more often than they did a year earlier. These factors are expected to be significantly impactful on the growth of pepper extracts market. Rising adoption of hot sauces among consumers for enhancing the flavor of various foods will continue to augment the market growth. In addition, emerging trends of sweet-heat flavor combinations in dairy foods such as spicy yogurt and hot cheese are likely to create lucrative opportunities for key players participating in the pepper extracts market.

As consumers are increasingly exposed to global cuisines, they are willing to explore a range of spicier foods as well as unique flavor combinations which will possibly shape the future of pepper extracts market. Apart from their use in introducing heat into dairy products, pepper extracts also find applications in a number of cosmetic products such as deep cleansing body wash for their ability to fight against skin aging. This in turn is anticipated to complement the global expansion of pepper extracts market in the coming years.

Pepper Extracts Market Segmentation

On the basis of type, the pepper extracts market can be segmented into:

  • Hot Sauce
  • Hot Pepper Sauces

On the basis of application, the pepper extracts market can be segmented into:

  • Foods
  • Drugs
  • Cosmetics
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Pepper Extracts Market

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