The global pepperoni food market to grow at a CAGR of 6.31% during the period 2017-2021.
Global Pepperoni Food Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, one of the major drivers for this market is High demand for pepperoni as pizza topping. Pepperoni is used in many finger foods such as sandwiches, pizza, burgers, and others. However, the most important and popular use of pepperoni is as pizza toppings. Thinly sliced and small-sized pepperoni slices are used over pizza base. It is one of the most preferred and liked pizza toppings across the globe.
The latest trend gaining momentum in the market is Increasing preference for clean-labeled processed meat products. The country of origin labeling (COOL) plays a significant role in determining the consumers' purchasing decisions. Consumers in the western countries consider that meat processed in developed countries are safer to consume than those that are produced in other regions. Many consumers seek for more transparency throughout the supply chain, which helps them make informed decisions. They prefer processed meats that are labeled clean, free-form, and environment-friendly. However, vendors have to bear more costs, leading to increasing in the price of the final product.
Further, the report states that one of the major factors hindering the growth of this market is Growing adoption of veganism. Veganism is a practice of restricting the consumption and use of animal-based products. The trend is growing rapidly across the globe. There has been steep growth in the population of vegan consumers in several developed and developing countries across the globe. Some of the consumers are strict vegetarians (dietary vegans), who do not consume any kind of animal-based products, while some are flexitarian or part-time vegan. The growth in the veganism is attributed to several factors including increasing ethical stand and campaigns against animal slaughtering and rising health-awareness. The vegan population prefers consuming ethically prepared foods. Consumption of meat is considered to have a negative impact on the sustainability of the environment and cause health problems.