Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 487 million | USD 804 million | 6.1% | 2022 |
FrequentlyAsked Questions
Paprika is a ground spice that is produced through dried red fruits of plant varieties, namely, capsicum annuum of Longum group including chili peppers. Moreover, paprika means plant or fruit that helps in producing spices.
The global paprika market growth over forecast period can be owing to an increase in the per capita income and growing demand for the product across the emerging economies.
According to a study, the global paprika industry size was $487 million in 2022 and is projected to reach $804 million by the end of 2030.
The global paprika market is anticipated to record a CAGR of nearly 6.1% from 2023 to 2030.
North America is set to dominate the global paprika industry over the forecasting timeline owing to huge demand for product in fragrances, seasoning, and flavors. Apart from this, rising demand for product in cosmetics and pharmaceuticals sectors in North America will embellish the growth of the industry in the sub-continent.
The global paprika market is led by players such as Chr. Hansen Holding A/S, Plant Lipids, Synthite Industries Ltd., and Ungerer & Company Unilever Food Solutions.
The global paprika market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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