The demand for black pepper is rising due to growing consumer healthcare spending as well as a thriving pharmaceutical sector brought on by the nutraceutical industry's rapid growth.
Additionally, its rising application in the preparation of food and beverages is contributing to this increase.
Furthermore, consumers' increased health consciousness and desire for prepared foods led to the addition of black pepper to regular meals, and the expanding demand for pepper in cuisine from Far Eastern countries has an impact on the global market.
Overall, the estimated price of black pepper will be $6,429.64 per ton in 2028, reaching a CAGR of 5.42% during the forecast period of 2023-2028.