Spices and Seasoning Market Overviews
Spices and Seasoning market was valued at USD 24.79 billion in 2023. The Global Spices and Seasoning Market is estimated to grow at a CAGR of 5.2% and expected to reach USD 35.35 billion over the forecast period.
Spices and seasonings are essential in the food and beverage industry, enhancing flavor, aroma, color, and taste while also serving as preservatives and antibacterial agents. Convenience food manufacturers utilize these ingredients to improve product quality and flavor while extending shelf life. The rising consumer interest in trying new flavors and exploring ethnic cuisines has led to a surge in product offerings and increased sales in the spice and seasoning market. This industry’s growth is largely attributed to its ability to meet consumer demand for healthier options, convenience, and diverse flavors. Notably, China, Vietnam, and India are among the leading exporters of spices worldwide. The Spices and Seasoning Market is analyzed by segments, including type, application, distribution channel, and region.
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Spices and Seasoning Market Scope and Methodology:
A key factor driving the growth of the Spices and Seasoning Market is the expanding hospitality industry, alongside the increasing preference for ready-to-eat and ready-to-drink products. Additionally, consumers are showing a growing interest in exploring new cuisines and flavorful foods enhanced by various spices and seasonings. These ingredients are also utilized as natural preservatives to reduce microbial activity and maintain the quality of meat and poultry. Furthermore, spices and seasonings are rich in antioxidants, with many believed to possess therapeutic properties, making them valuable for treating a range of ailments.
Spices and Seasoning Market Regional Insights
North America dominated the global Spices and Seasoning market in 2021, with a value of USD 7.48 billion. North America has been one of the major markets for spices and seasonings as new consuming habits change how consumers think about herbs. Because of the region’s growing food processing industries, the Asia Pacific market is expected to rise significantly. The growing preference of young European consumers for exotic and robust culinary flavours, projected to see significant development in the market.
Spices and SeasoningMarket Segmentation
By type, the spices and seasoning market is divided into salt and salt substitutes, pepper, herbs, and spices. The salt and salt substitutes segment generated the highest revenue share in 2012 and is projected to maintain steady growth through 2022, with a compound annual growth rate (CAGR) of 4.3% during the forecast period.
The spices category includes various types, such as pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg, mace, cardamom, cloves, and others. Meanwhile, the herbs segment encompasses rosemary, fennel, garlic, parsley, oregano, mint, and additional varieties.
Spices and Seasoning Market Key Players
Olam International (Singapore)
McCormick & CompanyInc. (US)
Ajinomoto Co. Inc. (Japan)
Associated British Foods plc (UK)
Kerry Group plc (Ireland)
Sensient Technologies Corporation (US)
Döhler Group (Germany)
SHS Group (Ireland)
Worlée Gruppe (Germany)
ARIAKE JAPAN CO, LTD.
Baria Pepper
DS Group
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Key questions answered in the Spices and Seasoning Market are:
- What is Spices and Seasoning ?
- What was the Spices and Seasoning market size in 2023?
- What is the growth rate of the Spices and Seasoning Market?
- Which are the factors expected to drive the Spices and Seasoning market growth?
- What are the different segments of the Spices and Seasoning Market?
- What growth strategies are the players considering to increase their presence in Spices and Seasoning ?
- What are the upcoming industry applications and trends for the Spices and Seasoning Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Spices and Seasoning Market?
- Who are the leading companies and what are their portfolios in Spices and Seasoning Market?
- What segments are covered in the Spices and Seasoning Market?
- Who are the key players in the Spices and Seasoning market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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