Research Support Specialist, USA
The global piperine market size is estimated to reach USD 4.9 billion by 2028 and is projected to expand at a CAGR of 4.8% from 2021 to 2028, according to a new report by Million Insights. The growing adoption of piperine in the food and pharmaceutical industry is one of the major factors contributing to market growth. Additionally, the growing application of piperine in cosmetics products as a bio enhancer is expected to further provide ample growth opportunities for growth. Moreover, the rising consumption of black pepper in emerging economies is further projected to enhance the market growth during the forecast period.
During the COVID-19 pandemic, the healthcare expert recommended a daily intake of nutritional food to maintain the immunity of the body which further increased the demand for dietary piperine across the globe. Therefore, the significant demand for dietary fibers during the pandemic positively impacted the global market. However, due to restricted production, disturbed supply chains, and reduced demand, the companies experienced a slight shortfall in sales. Despite this overall short slack in market revenue, it is expected that the sector will soon witness healthy growth in the upcoming years after COVID limitations.
The organic segment is estimated to register the highest CAGR of 5.1% from 2021 to 2028. The rising trend of consumers towards organic piperine products for various health benefits is projected to propel market growth. Moreover, the introduction of various organic piperine-based cosmetics products by the companies is projected to increase the demand over the forecast period.
The pharmaceutical segment is estimated to register a faster CAGR of 5.2% from 2021 to 2028. The growing usage of piperine in the pharmaceutical industry as a bioactive component is one of the major factors influencing the market growth over the forecast period. Moreover, the significant growth in the pharmaceutical manufacturing industry in emerging economies such as India, China, and others is further projected to provide ample opportunities for the growth of the market in near future.
Europe contributed to the second largest market share of more than 20% in 2020. High consumption of black pepper in the region contributed to the major share in the global market for piperine. Moreover, the substantial awareness regarding the intake of healthy nutritional products in developed economies such as Germany, the U.K., and France further contributed to the market growth. Additionally, the significant growth in the personal care industry coupled with the rising usage of piperine in cosmetics products further provides significant growth to the market.
The report “Piperine Market Size, Share & Trends Analysis Report By Type (Organic, Inorganic), By Application (Food & Beverages, Pharmaceutical, Cosmetics & Personal Care), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global piperine market based on type, application, and region: