USD 8.84 billion
Report ID:
SQSG30I2056 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
120
|Figures:
67
Packed Pickles Market was valued at USD 8.84 billion in 2022 and it is expected to reach a value of USD 11.48 billion by 2031, at a CAGR of 3.8% over the forecast period (2024-2031).
Rising number of products launches in the packed pickle category by several major companies including The Kraft Heinz Company and GLK Foods is the major factor driving the growth of the global packed pickles market over the forecast period. Furthermore, shifting consumers preferences and interests towards new flavors and cuisines is also projected to have a positive impact on the growth of the market.
Increasing recommendation for the consumption of pickles from various health experts and albeit in moderation, which helps in the prevention of muscle cramps and many other problems in the body is also propelling the growth of the global packed pickles market in the coming years. Increasing disposable income of consumers is also encouraging them to increase spending on these products, as a result the demand for packed pickles is growing at a significant rate. According to our findings, an average American consumes around 9 pounds of pickle in a year, and about 245.85 million Americans consumed pickles in the year of 2020.
An extensive surge in the promotional activities by manufacturers of pickles across the globe through several online platforms and channels has impacted global packed pickles market positively. Moreover, increasing investment by key players for the innovation of cost-effective and convenient packaging solutions to gain the large consumer base and make their market position strong is likely to boost the market in the coming years.
US Packed Pickles Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 8.84 billion
Largest Segment
Fruit Pickles
Fastest Growth
Fruit Pickles
Growth Rate
3.8% CAGR
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Global packed pickles market is segmented on the basis of product, distribution channel, packaging, and region. By product, the market is segmented into fruit pickles, vegetable pickles, and others. By distribution channel, the Packed Pickles Market is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, and online. By packaging, the market is classified into jars, pouches, and others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.
Packed Pickles Market Analysis by Product
By product, the fruit pickles segment dominated the market and accounted for a significant market share in 2021. Unique taste offering and increasing awareness towards health benefits of fruit pickles are the major factor driving the segment growth over the forecast period. Furthermore, continuous change in consumer preferences and increased demand for organic products across the world is further expected to drive the growth of the segment in the coming years.
Moreover, the vegetable pickles segment is witnessing fastest CAGR during the forecast period. The several characteristics of vegetable pickles such as prevention of insulin resistance, aiding weight management, helps in reducing muscle cramps, and highly antioxidants rich products are projected to be the key driving factor for the segment growth in the near future.
Packed Pickles Market Analysis by Distribution Channel
By distribution channel, the supermarkets & hypermarkets segment dominated the market in 2021, and accounted for a significant market share. The numerous features of supermarkets like availability of various brands, wide range of product accessibility and providing original product checking capabilities to customers are the major factors propelling the segment growth. In addition, rapid urbanization and high technological advancements across the globe and especially in emerging countries such as India and China are impacting the global packed pickles market positively. For instance, in July 2022, UAE based LuLu Group has opened their fourth mall in Lucknow, India. It also includes LuLu Hypermarket and LuLu Fashion Store among others.
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Globally, North America held the largest market share in packed pickles market, with aa significant market share in 2021 and is anticipated to maintain its dominance throughout the forecast period owing to increased popularity of pickles in countries like United Stares and Canada coupled with the growing awareness regarding benefits of pickles among consumers. Furthermore, the presence of major market players like Del Monte Food Inc., and The Kraft Heinz Co. and increasing innovation to introduce new and more attractive flavours is also expected to contribute to the growth of the market in the region.
Furthermore, Asia Pacific region is also expecting a significant growth over the forecast period due to the high demand for pickles, as it is a part of daily meals in most of the households, particularly in India, and introduction to several new flavours with very attractive taste. In addition, increased disposable income of consumers and increasing spending by key players to promote their products are also projected to fuel the demand for the packed pickles in the region. For instance, Nilon Enterprise, has escalated their online presence with several types of campaigns and advertisements such as AchaarWithVichaar to create product image in the consumers mind, and this campaign have reached around 13 million Indian consumer screens.
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Packed Pickles Market Drivers
Packed Pickles Market Restraint
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Global Packed Pickles Market is highly competitive with the presence of many regional, medium-sized and large players operating around the globe. However, the market is dominated by top 5 market players including Del Monte Foods Inc., The Kraft Heinz Company, and Conagra Brands Inc. Various market players are implementing on several business strategies such as new product launches, acquisition, collaboration, and technological advancement for strengthen their market position and expanding product portfolio.
Packed Pickles Market Top Player’s Company Profiles
Packed Pickles Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global packed pickles market is witnessing a strong growth during the forecast period owing to the rising consumer interests towards pickles due to its several benefits in the body. Moreover, increasing investment by key players of the market in research & development sector and growing number of pickle flavours available in the market is further expected to propel the growth of the market. However, pickles contains high amount of salt content and thereby it increase the risk of hypertension and in heart diseases as well, which is projected to restrain the global market in the near future.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 8.84 billion |
Market size value in 2031 | USD 11.48 billion |
Growth Rate | 3.8% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Packed Pickles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Packed Pickles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Packed Pickles Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Packed Pickles Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONPacked Pickles Market was valued at USD 8.84 billion in 2019 and it is expected to reach a value of USD 11.48 billion by 2031, at a CAGR of 3.8% over the forecast period (2024-2031).
Packed Pickles Market is highly competitive with the presence of many regional, medium-sized and large players operating around the globe. However, the market is dominated by top 5 market players including Del Monte Foods Inc., The Kraft Heinz Company, and Conagra Brands Inc. Various market players are implementing on several business strategies such as new product launches, acquisition, collaboration, and technological advancement for strengthen their market position and expanding product portfolio. 'The Kraft Heinz Co. (US)', 'Del Monte Food Inc. (US)', 'Mitoku Co. Ltd (Japan)', 'ADF Foods Ltd (India)', 'Pinnacle Foods Inc. (US)', 'Hugo Reitzel (Switzerland)', 'Conagra Brands Inc. (US)', 'Nilons Enterprise Pvt Ltd (India)', 'Mt Olive Pickles (US)', 'Peter Piper’s Pickle Palace Inc. (US)'
Increasing consumption of pickles by several food chains including McDonald’s and Burger King coupled with the rise in consumption in households as a daily meal in countries like India and China are the major factors expected to drive the packed pickles market throughout the forecast period. Countries like India and China have very large population, which requires pickles in their daily meals as they quite like the taste and aware about the benefits of that. Therefore, the demand for pickles are likely to have a boom in the coming years.
Increasing preference for organic and flavored pickles across the globe due to the rising health awareness and benefits of organic pickles is creating huge demand and expected to boost the packed pickles market in the next few years. Consumers are extensively shifting towards the best products for their health, thereby the demand for organic products are highly in trend. To fulfill the consumer need, SIMFED and Qseal Agritech Pvt Ltd. have announced a collaboration. The main aim behind this collaboration is to create highly influenced organic products and provide a better experience to the consumers of packed pickles.
Globally, North America held the largest market share in packed pickles market, with aa significant market share in 2021 and is anticipated to maintain its dominance throughout the forecast period owing to increased popularity of pickles in countries like United Stares and Canada coupled with the growing awareness regarding benefits of pickles among consumers. Furthermore, the presence of major market players like Del Monte Food Inc., and The Kraft Heinz Co. and increasing innovation to introduce new and more attractive flavours is also expected to contribute to the growth of the market in the region.
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Report ID: SQSG30I2056