According to the Agency of Foreign Trade (Ministry of Industry and Trade), the worldwide black pepper market is expected to grow from USD 3.9 billion in 2020 to over USD 6 billion by 2028.

The worldwide black pepper industry is being driven forward by increasing spending on food and rising disposable income in emerging nations.

Additionally, increasing concerns about food safety have resulted in the development of novel antimicrobial agents. Pepper essential oils not only enhance the flavor but also inhibit the activities of microbes.

The black pepper market may see strong demand from cosmetic manufacturers due to its widespread usage as a component in skincare formulations.

In the near future, the price of pepper tends to decline when Vietnam and Brazil enter the harvest crops. However, prices of global pepper will not fall much as a result of supply scarcity in some pepper-producing nations, such as Indonesia and India.

Pepper production has declined in recent years as a result of the effect of the Covid-19 epidemic, and the price has fallen dramatically from prior years. While numerous nations reopened restaurants and cafes, resulting in a surge in pepper use. Over time, the global demand for black pepper will continue to grow.

Translated by Linh Linh