Packed Pickles Market Projected To Exhibit Robust CAGR of 3.5% For The Forecast Period From 2019 To 2025: Grand View Research Inc.

 

The global packed pickles market size is expected to reach USD 10.1 billion by 2025, according to a new report by Grand View Research, Inc., registering a 3.5% CAGR over the forecast period. Increasing demand for cross-cultural cuisines on a global level has played a crucial role in expanding the market scope of packed pickles over the years. Innovative flavors in the premium category is a lucrative opportunity for players to capitalize on through 2025.

On the basis of product, the fruits segment dominated the market in 2018 with a share of over 46.0%. Fruits such as peaches, pears, mangoes, apples, olives, grapes and currants, and various berries are used to make a variety of packed pickles. Unripe or raw fruits soaked in a vinegar solution or sugar syrup have a distinctive taste and texture. Often, spices such as cloves, cinnamon, and allspice are added in the preparation of fruit-based pickles to elevate the flavor. The vegetables segment is projected to exhibit the fastest growth over the course of the forecast period. Rising awareness about the health benefits and nutritional properties of these packed pickles is expected to fuel demand in the coming years. These products are rich in antioxidants, aid in weight management, and ease muscle cramps.

In 2018, jars held the largest share in the market based on packaging solution, accounting for more than 65.0% of the global revenue. Jars and bottles are easier to store and are more cost-effective. On the other hand, the pouches segment is expected to witness a significantly high growth rate in the near future. Increasing demand for flexible and convenient packaging in the food industry is anticipated to accelerate segment in the coming years. Pouches also serve as refill packs and consumers looking to experiment with new flavors often prefer purchasing smaller portions rather than an entire jar.

Based on distribution channel, the market can be segmented into convenience stores, supermarkets and hypermarkets, specialty stores, and online. Accounting for a little over half the market revenue, supermarkets and hypermarkets held the dominant share in 2018. Convenience, wide range of options, and various offers and discount coupons are some of the benefits consumers reap by shopping at these retain chains. The online channel is anticipated to witness the strongest growth over the forecast period thanks to a booming e-commerce sector.

Geographically, North America held the largest share in 2018, followed by Asia Pacific. In North America, pickled olives and cucumbers are the most common variants consumed and are also used in several fast foods such as burgers and hot dogs. The APAC market is primarily driven by the fact that pickles form a part of daily meals in most households, particularly in India. Middle East and Africa is poised to witness the fastest growth through 2025.

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Key players in the market include Pinnacle Foods, Inc.; ADF FOODS LTD; The Kraft Heinz Company; Reitzel S.A.; Mt Olive Pickles; Del Monte Foods, Inc.; Mitoku Company, Ltd.; Peter Piper’s Pickle Palace, Inc.; Orkla ASA (MTR Foods); and Nilons Enterprises Pvt Ltd. Product innovation is expected to remain a key strategy among manufacturers of packed pickles over the next few years.

Packed Pickles Market Report Highlights

• By product, packed fruit pickles held the largest share in the market in 2018, while vegetables are expected to exhibit the highest growth over the forecast period
• Pouches are projected to register the highest CAGR among other packaging solutions, fueled by the ease and convenience they offer
• On the basis of distribution channel, supermarkets and hypermarkets enjoyed the dominant position, with online portals likely to witness significant growth over the coming years
• Based on geography, North America held the largest market share in 2018. On the other hand, Middle East & Africa will exhibit the fastest CAGR of 6.6% from 2019 to 2025. Increased concentration of immigrants from South Asia in Gulf countries such as Saudi Arabia, UAE, and Qatar is expected to remain a key favorable factor for the industry.

The market is primarily characterized presence of a large number of small and local producers, which accounts for a significant share in the market revenue. Over the past few years, manufacturers in this industry have been emphasizing on product innovation to cater to evolving tastes and gain a competitive advantage. In July 2016, The Kraft Heinz Company launched two new flavors of pickle chips: Spicy Garlic Pickle Chips and Sweet & Spicy Pickle Chips at a local festival in Pittsburgh, Pennsylvania. These packed products are available in 16-ounce glass jars and distributed through leading retailers like Walmart and Target. Some of the prominent players in the packed pickles market include:

• ADF FOODS LTD
• Pinnacle Foods, Inc.
• The Kraft Heinz Company
• Del Monte Foods, Inc.
• Reitzel S.A.
• Mt Olive Pickles
• Mitoku Company, Ltd.
• Peter Piper’s Pickle Palace, Inc.
• Orkla ASA (MTR Foods)
• Nilons Enterprises Pvt Ltd

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.