Global Pimento Extract Market Outlook
Over the past few decades, the world has witnessed a rapid growth in veganism especially in the Asia Pacific, Europe, and the North America regions. The confluence of factors such as the rise in awareness about the health benefits on consumption of vegan products and the consumers' desirability of adopting a healthier lifestyle has been driving the consumers to shift into the vegan diet. Owing to this factor, the products such as the pimento has been gradually gaining traction among its target segments. Pimento and its various formats such as the pimento extract has witnessed large scale application in the pharmaceutical, cosmetics as well as in the food industry.
Global Pimento Extract Market: Reasons for Covering this Title
Owing to the rise in awareness about health benefits associated with the consumption of natural and organic food and beverages products, there is rising in demand for the same over the past couple of decades. Consequently, taking into account the fact that consumers' rising preference for the natural food product, manufacturers are increasingly looking out for natural ingredients no matters it's in cosmetics, pharmaceutical or the food industry. Pimento Extract is one such natural ingredient that is used in large scale in these industries. In the food industry, Pimento Extract is famously used as a stuffing for green olives, in pimento cheese and pimento loaf. Pimento Extract is also used in the bakery as well as in the ice cream segments. In the pharmaceutical industry, Pimento Extract is also being used for flatulence, indigestion and cramps healing. Pimento extract is also used as a preferred ingredient for the production of several cosmetic products.
Global Pimento Extract: Market Segmentation
On the basis of organic, the global Pimento Extract market has been segmented as –
On the basis of form, the global Pimento Extract market has been segmented as –
On the basis of the application, the global Pimento Extract market has been segmented as –
- Food & Beverages Industry
- Pharmaceutical Industry
- Cosmetic Industry
On the basis of the end use, the global Pimento Extract market has been segmented as –
On the basis of the distribution, the global Pimento Extract market has been segmented as –
- Convenience Store
- Specialty Store
Global Pimento Extract Market: Key Takeaway
According to internal analysis, the North America region is being considered as the most attractive market for personal and organic cosmetic products which sights an opportunity for Pimento Extract Market. Similarly, for functional food ingredients market, North American and the European regions have been considered as the dominant players which have the potential to drive the global Pimento Extract Market.
Global Pimento Extract Market: Key Players
Some of the key players operating in the global Pimento Extract market are B&G Foods, Inc., Synergy Flavors, Spice Mountain LTD, Geneza, Naissance, Natures Flavors, Inc., Lionel Hitchen Limited, Blue Pacific Flavors among others.
Key Trends: Global Pimento Extract Market
Major shareholding companies for Pimento Extract have been expanding its operation and presence through several critical acquisitions. Moreover, the companies have been executing several promotional strategies in order to bring awareness about its products and services among its target segments.
Global Pimento Extract Market: Key Developments
- In 2017, B&G Foods announced the acquisition of Back to Nature Foods Company, LLC a leader in the better-for-you snack foods category, from Mondel?z International and certain other entities and individuals for approximately $162.5 million.
- Naissance has been active in online social media channel promoting its products and services to its target customers.
Opportunities for Pimento Extract Market Participants
Due to rise in awareness about the critical health benefits associated with consumption of natural and organic products, the segment (natural and organic foods) has gradually started gaining traction in major shareholding regions such as Asia Pacific, Europe, and North America. The confluence of factors such as consumers’ desire of adapting themselves into healthier lifestyle and rise in per capita income which has been triggering the demand for natural and organic products. Taking this account into consideration, the food processing industry, as well as the cosmetic industry, has been stressing over using natural or functional ingredients in its products. Hence the consumers’ preference for natural and organic products paves an opportunity for Pimento Extract market, especially in the food industry.
Brief Approach to Research
A modeling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the Pimento Extract market, including background and evolution
- Macroeconomic factors affecting the Pimento Extract market and its potential
- Pimento Extract Market dynamics, such as drivers, challenges, and trends
- Detailed value chain analysis of the Pimento Extract market
- The cost structure of the products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major Pimento Extract market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports, and overall trade scenario
- Analysis of the market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the Pimento Extract market, including detailed profiles of the top players in this market
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.