Cayenne Pepper Market is anticipated to grow at a CAGR of 5.00% from 2022 to 2028 globally - Axiom MRC
Cayenne Pepper Market is anticipated to grow at a CAGR of 5.00% from 2022 to 2028 globally - Axiom MRC
Date: February 2022
New York, Feb, 2022: Axiom Market Research & Consulting™ added a report on global cayenne pepper which includes study on type, nature, distribution channel across various countries of key regions across the globe. The global cayenne pepper was projected to grow at a CAGR of 5.00% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the cayenne pepper market.
The factors such as increased use of cayenne pepper in food and beverage industry and rising food consumption increased demand for cayenne pepper after COVID-19 outbreak. Adding to that cayenne pepper market is increasingly becoming more popular in many meals as it gives a vibrant taste and a spicy spice, resulting in increased demand for the cayenne pepper market. Cayenne pepper's health advantages are becoming more well-known among consumers all over the world.
The report analyses the global cayenne pepper industry based on type, nature, distribution channel and geography. The different cayenne pepper type studied in the market are raw, powder. The market has different nature of cayenne pepper segmented into organic and conventional. Several distribution channel of the market are direct, indirect. The global cayenne pepper market is studied across various key countries of regions such as, North America, Europe, Asia Pacific and Rest of the World.
The raw segment is expected to dominate the cayenne pepper during the forecast period
The raw type is expected to grow at the fastest rate. In addition, factors such as cayenne pepper use in food consumption and increasing demand for cayenne paper in food and beverage industry are boosting the market growth.
In 2021, organic segment is expected to lead in the cayenne pepper during the forecast period
Organic cayenne pepper is more growing segment and expected to grow more during the forecast period. As consumers are become health conscious so the number of people are shifted toward organic
The direct distribution channel accounted for the major market share
The direct distribution channel of products in the form of fresh cayenne pepper and dried cayenne pepper is the product flow in the supply chain of cayenne pepper. Farmers Province produce fresh cayenne, which is distributed through various direct distributor.
North America dominated Cayenne pepper in 2021 and is expected to witness the fastest growth in upcoming years
North America is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The growing demand for cayenne pepper in region is attributed by increasing legalisation of cayenne pepper for food consumption in North America, the industry is expanding across the region. United States followed by Canada and Mexico is projected to be the fastest growing market due to increasing consumers of products in the region.
Key Players:
The key player in global cayenne pepper are McCormick & Company, Zatarain's, Frontier Natural Products Co-op, Mars, Incorporated, Foodmax, HerbAffair, Indus Organics, Badia Spices, Adams Flavors, Foods & Ingredients LLC, Hoyt's Food, GYMA Food Industries LLC, Soofer Co., Inc, WILD OATS MARKETING, LLC, Spicely Organics, Starwest Botanicals, Greenfields among others.