The growing demand for premium pickles is one of the major trends being witnessed in the global pickles market. At present, several players are developing new product ideas and launching premium pickles to drive consumer engagement and revolutionize the stagnant pickle market. Players feel that launching premium pickles can revive the pickles market as over the years consumers have started perceiving pickles as old-fashioned and dull due to lack of product innovation.
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In this report, Technavio analysts highlight new product launches as a key factor contributing to the growth of the global pickles market:
Global pickles market: New product launches
New product development, improved taste, and versatility often accelerate the demand for packaged food products such as packaged pickles. Over the last few years, the global pickles market has witnessed a rise in the number of new product launches. More players are expected to come up with innovative pickle products to broaden their consumer base during the forecast period.
According to a senior analyst at Technavio for research on food, “A major vendor presented several new varieties of pickles such as spicy beetroot and carrot chili. Another key player introduced new flavors of pickle chips that include sweet and spicy pickle chips containing crushed red pepper and sweet brine. Apart from this, they also offer spicy garlic pickle chips, including real garlic and red pepper.”
Global pickles market: Fruit pickle segment leads the market
This market research report segments the global pickles market into the following products (fruit pickle and vegetable pickle), end-users (retail pickles market and foodservice pickles market), and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the fruit pickle segment held the largest market share in 2017, contributing to nearly 47% of the market. The market share occupied by this segment is expected to decrease by over 1% by 2022. However, this product segment will dominate the global market throughout the forecast period.
The Americas led the global pickles market in 2017. It accounted for a market share of approximately 48%. It was followed by EMEA and APAC respectively. The EMEA region is expected to project the fastest growth during the period 2018-2022.
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