Global Timut Pepper Market 2018-2022 | Increasing Popularity of Asian Spices and Seasoning to Boost Growth | Technavio
The global Timut pepper market is expected to post a CAGR of over 8% during the period 2018-2022, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global timut pepper market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is increasing awareness of medical benefits of Timut pepper. As per various studies, the bark, fruits, and seeds of the Timut pepper plant can be used extensively in indigenous systems of medicine to treat flatulence. The bark of Timut pepper is pungent and can be used to clean teeth. The fruits and seeds of the plant can be used as aromatic tonics to cure fever and dyspepsia (indigestion). The extract of Timut fruit can also be effective in expelling roundworms. Due to its deodorant, disinfectant, and antiseptic properties, Timut pepper fruit can also be used for dental troubles and its lotion can be used to treat scabies. During the forecast period, players selling Timut pepper are expected to highlight these medical benefits to consumers, which will augment growth.
This market research report on the Global Timut Pepper Market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing popularity of Asian spices and seasoning as one of the key emerging trends in the global Timut pepper market:
Global Timut pepper market: Growing inclination toward Asian spices and seasoning
The growing prevalence of television channels such as TLC and FoodFood has made consumers aware of exotic ingredients, which can offer foods a unique flavor. Currently, the inclination of chefs in Western countries toward Asian spices and seasoning is increasing at a fast pace. Many of the chefs hosting cooking-based shows on these television channels use rare ethnic Asian ingredients, such as Timut pepper, in their recipes. This increases awareness about Asian spices among the audience many of whom also try to recreate these recipes. The growing inclination of top chefs from western countries to use Asian spices and seasonings is expected to increase the popularity of this pepper variety among retail-end-users.
“Apart from factors such as growing preference for Asian spices and seasoning, other aspects such as the use of Timut pepper among packaged food and beverage manufacturers is expected to contribute to the overall global market, during the forecast period,” says a senior analyst at Technavio for research on food.
Global Timut pepper market: Segmentation analysis
This market research report segments the global Timut pepper market by application (food and beverages and other Timut pepper application) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of more than 47%, followed by EMEA and the Americas respectively. However, during the forecast period, the Americas is expected to register the highest incremental growth followed by the EMEA region.
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Five Forces Analysis
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- Vendors covered
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View source version on businesswire.com: https://www.businesswire.com/news/home/20181026005135/en/