The global pickles and pickle products market is expected to register a CAGR of 3.2% during the forecast period, 2018 to 2023. North America held the highest market share of 47.43%, with US being the major contributor to the pickles and pickle products market growth. There is a moderate level of competition in the global market as the industry is very scattered. Pickles by regional players using local products are preferred in the market. It is relatively easy for new entrants due to the trend of customer shifting from one brand to another.
Increasing Demand for Organic and NonGMO Pickles Triggering the Market Growth
Pickle and pickle products vary as per local taste and preferences and thus, many international, as well as regional players, are succeeding in this market. Large varieties, flavors, and major ingredients make this a huge market. The market is largely influenced by factors such as health benefits, taste enhancement and demand of food complimentary products. The price variation of raw materials is restraining the pickles market. The rising popularity of nonGMO, organic pickles and the introduction of innovative products with better taste and targeting health concerns are exploitable opportunities in the pickles and pickle products market.
Hypermarkets/Supermarkets Continue to Lead the Market by Distribution Channel
On the basis of product types, the market can be segmented into fruits, vegetables, meat, seafood, relish etc. On the basis of distribution channels, the market is divided into grocery retailers, hypermarket/ supermarkets, online retailers, and others etc. hypermarkets/supermarkets is likely to hold major share in the market, due to their large scale business which further results in bigger revenue generation. Also, the segment is expected to witness strong growth during the forecast period, owing to repeat business that these supermarkets/hypermarket do through customers.
AsiaPacific is Likely to Witness Highest Growth Rate during the Forecast Period
North America continues to lead the pickle and pickles product market, owing to its' larger consumption because of its differentiating taste and taste enhancing properties. There has been growing demand for vegetable pickles, particularly in the AsiaPacific region and consumed as an accomplishment with food during meals; which in turn is anticipated to be major driver for the APAC region to witness highest growth rate during the forecast period.
MAJOR PLAYERS: PINNACLE FOODS, ADF FOODS, ALAM GROUP, ANGEL CAMACHO, BLACKPOWDER FOODS, DESAI GROUP, DEL MONTE FOODS, FREESTONE PICKLE COMPANY, HOI VU COMPANY, KRAFT HEINZ, MITOKU COMPANY, REITZEL INTERNATIONAL, MTR FOODS, MT. OLIVE PICKLE COMPANY and NILONS ENTERPRISE, amongst others.
Key developments
December 2017: Pinnacle Foods, parent company of Vlasic Pickles was named as the processor of the year by the Food Processing Magazine. Notably, the pickle products come from its Imlay City facility.
July 2016: Heinz Pickles has had launched its two new pickle flavor at Picklesburgh, which was attended by more than 70,000 people. The new flavors namely, Sweet Spicy Chips and Spicy Garlic Chips were launched in 16ounce glass jars.
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