Report ID: SQSG30I2056
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.
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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