Pickles Market Share Worth US$ 12.3 Billion by 2024| CAGR of 3% - IMARC Group
Over the recent years, the global pickles market has witnessed a moderate growth. This can be attributed to numerous favourable factors like increasing awareness about the disadvantages of genetically modified organisms (GMO) products, rising demand for organic food items, thriving food industry, associated health benefits and an easy access to cross-culture cuisine.
According to the latest report by IMARC Group, titled “Pickles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global pickles market Trends reached a value of US$ 10.3 Billion in 2018. Pickles are prepared by using vegetables and fruits which are left for fermenting in a mixture of vinegar or brine, until they develop a strong and pungent taste. This aids in preventing the decaying of vegetables and fruits, thereby making them less vulnerable to spoiling. After the process of fermentation, various herbs and spices such as garlic, clove, mustard seeds, cinnamon, etc. are added to the mixture for enhancing the taste. Apart from this, pickles are a rich source of nutrients like iron, calcium, vitamins and potassium. They also have probiotic properties which assists in maintaining a healthy digestive system. As a result, pickles are extensively used in the food industry where they are consumed as a popular delicacy along with meals or snacks like sandwiches, hamburgers, pizza and hotdogs.
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One of the key trends that has been witnessed include a shift from genetically modified organism (GMO) products to organic food items. This can be highly accredited to the rising awareness amongst consumers about the health hazards caused by GMO products. Besides this, the thriving food industry has reinforced the demand for pickles across the globe. Further, in order to widen their consumer base, manufacturers are coming up with a wide variety of pickles and constantly investing in several promotional campaigns. Few of the other factors which are contributing towards the growth of the global pickles market include growing population, escalating disposable incomes and an increase in the cross-cultural cuisines. Looking forward, the market value is projected to exceed US$ 12.3 Billion by 2024, expanding at a CAGR of 3% during 2019-2024.
• On the basis of type, the market has been segmented as fruit pickles, vegetable pickles, meat pickles and others. Amongst these, fruit pickles which include pears, peaches, apples, mangoes, etc., account for the majority of the market share.
• Based on taste, the global pickles market has been segregated as sweet pickles, salty pickles and sour pickles.
• On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment followed by convenience stores, independent retailers, online and others.
• Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the leading market, accounting for the majority of the market share.
• The competitive landscape of the market has also been examined with some of the key players being ADF Foods, Pinnacle Foods Inc., Kraft Heinz, Del Monte Foods and Reitzel.
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