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Global Pimenta Pepper Market Grows Robustly for the Seventh Consecutive Year

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Global Pimenta Pepper Market Grows Robustly for the Seventh Consecutive Year

IndexBox has just published a new report: ‘World – Pimenta Pepper – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The global pimenta pepper market rose modestly to $10.9B in 2019, surging by 4.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, the total market indicated a noticeable increase from 2007 to 2019: its value increased at an average annual rate of +2.8% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +64.8% against 2007 indices. Over the period under review, the global market reached the peak level in 2019 and is likely to continue growth in the near future.

Consumption by Country

India (1.4M tonnes) remains the largest pimenta pepper consuming country worldwide, comprising approx. 33% of total volume. Moreover, pimenta pepper consumption in India exceeded the figures recorded by the second-largest consumer, Thailand (326K tonnes), fourfold. The third position in this ranking was occupied by Ethiopia (321K tonnes), with a 7.6% share.

In India, pimenta pepper consumption expanded at an average annual rate of +2.3% over the period from 2007-2019. In the other countries, the average annual rates were as follows: Thailand (+4.7% per year) and Ethiopia (+9.2% per year).

In value terms, India ($2.5B), Ethiopia ($1.8B) and Cote d’Ivoire ($706M) appeared to be the countries with the highest levels of market value in 2019, together comprising 46% of the global market.

The countries with the highest levels of pimenta pepper per capita consumption in 2019 were Cote d’Ivoire (4.86 kg per person), Thailand (4.67 kg per person) and Ghana (3.95 kg per person).

Market Forecast 2019-2030

Driven by increasing demand for pimenta pepper worldwide, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.7% for the period from 2019 to 2030, which is projected to bring the market volume to 5.7M tonnes by the end of 2030.

Production

In 2019, approx. 4.3M tonnes of pimenta pepper were produced worldwide; growing by 3.3% against the year before. The total output volume increased at an average annual rate of +3.0% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by 13% year-to-year. As a result, production attained the peak volume of 4.5M tonnes. From 2018 to 2019, global production growth remained at a lower figure. The general positive trend in terms output was largely conditioned by a temperate increase of the harvested area and tangible growth in yield figures.

Production By Country

India (1.9M tonnes) constituted the country with the largest volume of pimenta pepper production, comprising approx. 43% of total volume. Moreover, pimenta pepper production in India exceeded the figures recorded by the second-largest producer, China (329K tonnes), sixfold. Ethiopia (321K tonnes) ranked third in terms of total production with a 7.4% share.

In India, pimenta pepper production expanded at an average annual rate of +3.1% over the period from 2007-2019. The remaining producing countries recorded the following average annual rates of production growth: China (+2.3% per year) and Ethiopia (+9.2% per year).

Harvested Area

In 2019, approx. 1.8M ha of pimenta pepper were harvested worldwide; remaining relatively unchanged against 2018 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the harvested area increased by 6.5% year-to-year. As a result, the harvested area attained the peak level of 1.8M ha; afterwards, it flattened through to 2019.

Yield

The global average pimenta pepper yield expanded modestly to 2.4 tonne per ha in 2019, rising by 2.3% on the previous year’s figure. The yield figure increased at an average annual rate of +2.3% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 14% year-to-year. As a result, the yield attained the peak level of 2.4 tonne per ha; afterwards, it flattened through to 2019.

Imports

In 2019, approx. 819K tonnes of pimenta pepper were imported worldwide; increasing by 2.7% compared with the year before. Overall, total imports indicated temperate growth from 2007 to 2019: its volume increased at an average annual rate of +4.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Global imports peaked at 830K tonnes in 2017; however, from 2018 to 2019, imports remained at a lower figure.

In value terms, pimenta pepper imports rose notably to $1.9B (IndexBox estimates) in 2019. Over the period under review, total imports indicated resilient growth from 2007 to 2019: its value increased at an average annual rate of +4.4% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.

Imports by Country

The U.S. (148K tonnes), Viet Nam (112K tonnes), Thailand (85K tonnes), Spain (57K tonnes), Sri Lanka (54K tonnes), Indonesia (43K tonnes) and Malaysia (40K tonnes) represented roughly 66% of total imports of pimenta pepper in 2019. The following importers – Mexico (26K tonnes), Germany (24K tonnes), Japan (14K tonnes) and the UK (14K tonnes) – together made up 9.4% of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Viet Nam (+73.7% per year), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest pimenta pepper importing markets worldwide were the U.S. ($354M), Viet Nam ($250M) and Thailand ($195M), with a combined 42% share of global imports.

Import Prices by Country

In 2019, the average pimenta pepper import price amounted to $2,322 per tonne, rising by 4.9% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2011 when the average import price increased by 25% year-to-year. As a result, import price attained the peak level of $2,534 per tonne. From 2012 to 2019, the growth in terms of the average import prices remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Japan ($4,316 per tonne), while Sri Lanka ($1,273 per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Thailand, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform