Pickles Market Worth USD 14.6 Billion by 2027 at 5.1% CAGR - Report by Market Research Future (MRFR)

New York, US, Jan. 26, 2023 (GLOBE NEWSWIRE) -- Pickles Market Overview:

According to a Comprehensive Research Report by Market Research Future (MRFR),  Pickles Market Information By Type, Packaging Type, Distribution Channel And Region - Forecast till 2027"; the market will reach USD 14.6 Billion by 2027, an 5.1% CAGR.

Market Synopsis

Pickles are vegetables or fruits preserved in vinegar or salt water for a long time to give them a strong, astringent flavor. They may also be sliced into pieces. The appetite for pickles as a supplemental product to the main course of food and their health advantages are among the major market drivers worldwide. Additionally, as consumers become more aware of the negative health effects associated with the intake of various synthetic food ingredients used in products in non-compliant quantities with government standards, there has been a significant rise in the need for organic and natural foods, including pickles, in recent years. Additionally, food products consisting of ingredients, veggies, and fruits are healthier than those made of meat and seafood since they include more nutrients.

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Report Scope:

Market Competitive Landscape:

The notable contenders in the pickles market are:

• ADF Foods Ltd (India)
• McClure's Pickles
• Van Holten's Pickles
• Peter Piper's Pickle Palace, Inc. (US)
• Mt Olive Pickles (US)
• Mitoku Co., Ltd (Japan)
• Bluebonnet Creek Farms
• Orkla ASA (MTR Foods)
• Nilons Enterprises Pvt Ltd
• SuckerPunch Gourmet
• Del Monte Foods
• Best Maid Products
• Pinnacle Foods Inc. (US)
• Mt. Olive Pickle Company
• The Kraft Heinz Co. (US)
• Del Monte Food, Inc. (US)
• Hugo Reitzel (Switzerland)

Market U.S.P. Covered:

Market Drivers:

Organic and non-GMO pickles have become more popular among people concerned about their health in recent years. These goods are produced without preservatives and other artificial chemicals that may harm one's health. Additionally, producers are creating new flavors in response to regional consumer interests and preferences. To make pickles easier to use and consume while on the go, the top businesses also provide affordable and practical packaging alternatives. Glass jars, PET jars, single-serve packs, stand-up, multi-layered coextruded pouches, and polypropylene injection molded jars with bendable heat-sealable and peelable lids are just a few examples of the packaging options available. Additionally, the market for packaged pickles is positively impacted by a rise in disposable income, changes in consumer lifestyle, an increase in population worldwide, and fast urbanization.

A significant trend in the food sector is the change in consumer preferences and the rise in demand for organic products. In line with this, to meet consumer demand, producers of packaged pickles use organic fruits and vegetables. Health professionals also advise eating pickles, albeit in moderation. These products' vinegar, potassium, and salt content aid in avoiding muscle cramps and improving performance. Because it offers a wide variety of products on a single platform, most consumers perceive this distribution channel to be more convenient. In addition, there are now more huge supermarkets and hypermarkets in rising nations like China and India due to increasing urbanization and infrastructure development. These stores retain customers by providing lots of discount coupons and loyalty programs.

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Market Restraints:

The industry's growth is anticipated to be hindered by worries about the short shelf life of fermented products. The market for packaged pickles is anticipated to have challenges over the forecast period due to the leaching of the packaging material.

COVID 19 Analysis     

Global demand for organic and sustainably produced foods soared due to the COVID-19 pandemic, with kimchi particularly in demand in the aftermath of the virus's breakout. As a result of more people eating meals at home, the demand for kimchi surged by 60.8% in May 2020 at Tokyo supermarkets compared to the same month the previous year. Local tastes and preferences influence the variety of pickles and pickled goods. As a result, many regional and international firms prosper in this market by meeting the unique needs of their residents. This market is very large because of the wide variety, distinctive flavors, and key ingredients.

Market Segmentation

Based on type, the market includes fruit pickles, vegetable pickles, meat pickles, and seafood pickles.

The market includes pouches, tubs, and jars based on packaging type.

The market includes supermarkets or hypermarkets, specialty retailers or wholesalers, convenience and grocery stores, and stores based on distribution channels.

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Regional Insights

The region's market, which accounted for the largest portion of the global market, is anticipated to maintain its dominance throughout the forecast period thanks to the rising popularity of pickled cucumber and olives in the United States and Canada. These items are frequently used as an element in burgers, sandwiches, hot dogs, and a variety of street meals, in addition to being eaten on their own. Due to the biggest intake of cucumber pickles and olives, North America has the largest pickle market. This is also expected to fuel the pickle market's expansion. The European continent is growing and has a substantial market share in the pickle sector.

This is due to consumers' shifting eating habits and the rising adoption of new and diverse cuisines. The Asia-Pacific region will continue to experience rapid growth. A viable market for pickle producers is in the developing world. This is due to the simple accessibility of the seasonal fruits and vegetables used to make pickles. This region will see the highest CAGR over the forecasted time frame. In terms of revenue, the Asia-Pacific region also contributes significantly. The main factor driving this industry is that pickles are a staple of most households' daily meals, especially in India.

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