Capsicum Market Worth 10950 Million USD by 2024

Capsicum Market

Capsicum, the pepper, is a genus of flowering plants in the nightshade family Solanaceae, Its species are native to the Americas, where they have been cultivated for thousands of years. Following the Columbian Exchange, it has become cultivated worldwide, and it has also become a key element in many cuisines. Additionally, Capsicum species have also been used as medicines and lachrymatory agents.

North America is the largest exporter of regular and chili peppers in the world. Consequently, these products are considered strategic crops for the Ministry’s National Agricultural Planning 2017-2030. “International demand has increased in twenty countries in America, Asia, and Europe and also in countries where Mexico does not have a free trade agreement. That makes our country one of the biggest international competitors.

Peppers are not very popular among Chinese consumers; however, hot peppers are very popular. Most of the fresh peppers that are produced are intended for export to other countries in Europe and North America. However, the transport costs are high, because the shelf life of these products is not very long, so most Chinese companies first process the peppers before exporting or reselling the product. In order to guarantee a longer shelf life, many peppers are dried or pickled.

Furthermore, many peppers in China are processed into paprika powder after the harvest and then exported to other countries or sold in China. Last August, there was a lot of rainfall in Shandong and that resulted in flooding, which caused a lot of damage to the vegetable greenhouses in the area. The prospect is for this damage to be fully repaired by next year. In Xinjiang, the harvesting of red peppers has just been completed and these are now on the market.

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According to this study, over the next five years, the Capsicum market will register a 5.2% CAGR in terms of revenue, the global market size will reach US$ 10950 million by 2024, from US$ 8497.8 million in 2019. In particular, this report presents the global market share sales and revenue of key companies in Capsicum business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Capsicum market by product type, application, key manufacturers and key regions and countries.

This study considers the Capsicum value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.

Fresh Capsicum
Dried Capsicum

Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.

Daily Cooking
Food Processing Industry
Pharmaceutical Industry
Other

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.

America
APAC
Europe
Middle East & Africa

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The key manufacturers covered in this report: Breakdown data in in Chapter 3.

Levarht
Lipman Produce
J&J Family of Farms Corporate
Pero Family Farms Inc.
Oakes Farms
Southern Paprika Limited SPL
Fruit Farm Group
NatureFresh™Farms
Fresh Start Produce Sales
GK Fresh Greens
Paprika Oleo’s India Limited
Titan Farms Inc
Lewis Taylor Farms

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

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Research objectives

Study and analyze the global Capsicum consumption value & volume by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
Understand the structure of Capsicum market by identifying its various subsegments.
Focuses on the key global Capsicum manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in the next few years.
Analyze the Capsicum with respect to individual growth trends, future prospects, and their contribution to the total market.
Share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks.
Project the consumption of Capsicum submarkets, with respect to key regions along with their respective key countries.
Analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Strategically profile the key players and comprehensively analyze their growth strategies.

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