Originally Published on: technavio |Parsley Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027
The parsley market is expected to witness significant growth with a projected Compound Annual Growth Rate (CAGR) of 4.84% between 2022 and 2027. During this period, the market is estimated to increase by USD 1.19 billion. The growth of the parsley market is influenced by various factors, including the increasing prominence of private-label brands, advancements in packaging, and the expansion of the organized retail sector.
Market Segmentation:
This report offers a detailed analysis of market segmentation, including:
Product:
Fresh parsley
Dry parsley
Distribution Channel:
Offline
Online
Geography:
APAC
Europe
North America
Middle East and Africa
South America
The report also encompasses an in-depth analysis of drivers, trends, and challenges, while incorporating historical market data from 2017 to 2021.
Key Drivers of the Parsley Market:
Improvements in Packaging: Notably, improvements in packaging are driving the growth of the parsley market. Reliable quality and safety are key aspects in the case of packaged parsley. Manufacturers are utilizing cutting-edge materials and packaging techniques to enhance the marketability of their products. Innovations like vertical form fill seal (VFFS) machines are being employed to efficiently package parsley, offering cost-effective and time-efficient methods. This creative packaging enhances the visibility of parsley products on retailers' shelves, thereby increasing sales and contributing to the market's growth.
2. Use of Permaculture in Parsley Production: The adoption of permaculture in parsley production is a significant trend in the market. Permaculture emphasizes sustainable and self-sufficient agricultural practices, and parsley is an ideal plant for such practices. Parsley's ability to grow in compact spaces, including pots, makes it suitable for those with limited agricultural land. This herb requires minimal water and fertilizer, making it a sustainable choice. Given its culinary and therapeutic applications, parsley is regarded as a permaculture essential. The growth of permaculture practices is expected to drive the market during the forecast period.
Major Challenge in the Parsley Market:
Spoilage Due to Overuse of Fertilizers and Pesticides: The overuse of fertilizers and pesticides poses a significant challenge in the parsley market. During the production process, parsley is exposed to chemicals, which can be absorbed into the leaves and cannot be removed entirely even after washing. The overuse of chemicals can deter consumers from using parsley in food and beverages due to health concerns. Many producers rely on inorganic fertilizers due to the limited availability of safe organic pesticides. These chemicals not only affect the quality of the parsley but also harm the environment. Annual wastage of parsley occurs due to spoilage caused by the harsh chemicals used in its cultivation, which hampers market growth.
Market Vendor Information:
Vendors are adopting various strategies, including strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to strengthen their presence in the market. One of the key market vendors is Swanson Health Products Inc., which offers a range of parsley products, including Parsley Leaf and Organic Parsley Leaf Flakes.
Fastest-Growing Segment:
The fresh parsley segment is expected to experience significant growth during the forecast period. It is valued at USD 2.14 billion in 2017 and has continued to grow until 2021. Fresh parsley is in high demand due to its various applications, including garnishing and flavoring food and beverages, and its potential health benefits. Fresh parsley is often used in the prevention of Alzheimer's disease and eye diseases due to its high vitamin K content. This segment is experiencing a surge in demand because of its culinary and health-related benefits.
Key Regions for the Parsley Market:
The Asia-Pacific (APAC) region is estimated to contribute 34% to the global market's growth during the forecast period. Europe is also a region offering significant growth opportunities, with countries like Germany, the Netherlands, Italy, the UK, and others witnessing moderate growth in the parsley market. The increased use of parsley in various food and beverage products and the rising trend of ethnic cuisines are driving the demand for parsley in the region.
Impact of COVID-19: The COVID-19 pandemic had a positive impact on the consumption of health and wellness food products, particularly organic herbs like parsley, across Europe in 2020 and 2021. The pandemic contributed to the growth of online sales of parsley due to an increase in the use of tablets and smartphones for online shopping. The consumption of packaged foods and meat products has also increased, further boosting the demand for parsley.
In summary, the parsley market is poised for growth due to improvements in packaging, the adoption of permaculture practices, and the popularity of fresh parsley. However, the overuse of fertilizers and pesticides presents a challenge to the market's expansion.
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