Covina, July 10, 2024 (GLOBE NEWSWIRE) -- According to Prophecy Market Insights Spices and Seasonings Market Size is expected to reach at USD 37.4 billion in 2024 and is projected to grow at a CAGR of 5.8% to reach USD 67.7 billion by 2034.
Spices and Seasonings Market Report Definition
- How big is Spices and Seasonings Market?
Normally spices are dried and ground plant parts whereas seasonings can be of two types, which are wet and dry. They can have additives from sugar, vinegar, salt, or pepper to herbs and dry spices. Normally, a seasoning is also used in a much lesser amount than a spice generally. Seasonings are mixtures of herbs, spices, and other taste enhancers to make the food flavorful, while spices are just singular ingredients used to give both flavor and aroma to dishes.
Spices and seasonings make the food taste and flavor better. Spices consist of pulverized and dried plant material, whereas seasonings consist of coriander, ginger, chives. Spices consist of things of the sort of oregano, black pepper, cinnamon, rosemary, and garlic powder. In essence, the increased pockets of opportunity, created by expanding food sectors, have been at the root of market expansions. The possibility of using spices and seasonings in this growing industry has expanded the market. The descriptions for this increasing line in spices and seasons are increasing desire for ethnic foods and growing and in-home cooking.
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Our Free Sample Report includes:
- Overview & introduction of market study
- Revenue and CAGR of the market
- Drivers & Restrains factors of the market
- Major key players in the market
- Regional analysis of the market with a detailed graph
- Detailed segmentation in tabular form of market
- Recent developments/news of the market
- Opportunities & Challenges of the Market
Competitive Landscape:
The Spices and Seasonings Market is characterized by rapid growth, technological innovation and fierce competition. Companies are expanding their global presence, focusing on sustainability and diversifying their service offerings to stay competitive.
Some of the Key Market Players:
- Ajinomoto Co, Inc.
- Everest Spices
- Associated British Foods plc.
- Baria Pepper
- Bart Ingredients
- Kerry
- ARIAKE JAPAN CO, LTD.
- DS Group
- Dohler Group
- McCormick & Company Inc.
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Analyst View:
Spices are herbs used to increase food's flavor and aroma. The demand is directed by increasing demand for ethnic foods and in-home cooking, processed food industry demand, and the COVID-19 pandemic. The demand for spice blends is driven by traditional and ethnic foods and by the proliferation of ethnic restaurants across developed economies. The global spices and seasonings market can be segmented into salt & salt alternatives, spices, and herbs, of which spices have the largest category share due to various health benefits from the consumption of spices and demands for ready-to-use spice blends.
Market Dynamics:
Drivers:
Growing inclination towards processed foods
- The spices and seasonings market is gaining traction with the growth of the processed food industry. Gaining the need to improve the taste and flavor of a variety of savory snacks, soups, noodles, drinks, and ready-to-eat foods, demand for spices and seasonings is growing. These are now ready-to-use spice mixes that save time and trouble and are becoming increasingly in demand due to busy lifestyles and the convenience required by consumers. There is a greater demand for spices and seasonings as a result of savory snack foods such as chips and crackers. Furthermore, the surge in demand for convenience and processed food during the COVID-19 pandemic further stimulated increased volume sales for spices and seasonings. This trend is going to grow and shape the future market.
The growing appeal of traditional food
- One of the key drivers for the spices and seasoning market is the rise in the popularity of traditional and ethnic foods. Consumers strive for an authentic taste in their recipe ingredients and fusion of ethnic offerings, which resulted in a plethora of ethnic restaurants in developed economies like the US and Europe. At the same time, the growth of ethnic packaged foods, health foods, and convenience is increasing demand for spice blends. Investments by food companies in processing and new product development are currently in process to align with this demand. Globalization has brought ethnic cuisines to the forefront and has created a demand for authentic traditional flavors. Consumer trends are shifting toward clean label, organic, and natural products, and consumers prefer traditional unadulterated spices and herbs versus processed or synthetic ones.
Spices and Seasonings Market Report Scope
| Report Attributes | Details |
| Market value in 2024 | USD 37.4 Billion |
| Market value in 2034 | USD 67.7 Billion |
| CAGR | 5.8% from 2024 – 2034 |
| Base year | 2023 |
| Historical data | 2019-2022 |
| Forecast period | 2024-2034 |
Market Trends:
Rising consumer demand for prepared spice blends
- There are various aspects alongside the changing market trends that help drive the demand for prepared spice blends in the spice and seasoning sector. Some of these are the growing trend toward exotic and ethnic flavors, readymade spice blends for convenience, a greater thrust on health and well-being, versatility—since blended spices have blended into different food products—and lastly, the popular eating concept of fusion. Companies are engaging in product innovation, differentiation, and catering to consumer tastes for natural, convenient, and flavorful products. With increasingly busy lifestyles, there is enhanced time being saved by ready-to-use spice blends for the home cook. Such convenience makes it easier for a consumer to replicate restaurant-quality dishes at home. Another key trend gaining traction is fusion cuisine, where tenets of different culinary traditions are combined. Companies are banking on e-commerce and emerging markets to spur growth for the prepared spice blends segment.
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Segmentation:
Spices and Seasonings Market is segmented based on Product, Form, Distribution Channel and Region.
Product Insights
- Major segments in the global seasoning and spice market are herbs, spices, and salt and salt replacements. Spices take the lead in market share because they have various health benefits and are in high demand for ready-to-use blends. Herbs increase because of the growing interest in consumers for more flavor and ethnic foods. The growing demand for low-sodium and healthier seasoning is covered by salt and salt replacements. The spices industry has been projected to go through huge development as consumers demand further diversity in taste and ethnic food. The market is relatively broadly segmented into the following three segments: salt & salt alternatives, spices, and herbs.
Form Insights
- The global spices and seasonings market is categorized into powder, whole, and crushed forms the whole, crushed, and powdered types of spices and seasonings. Due to rising demand in flavored hot and tangy food, food service industry uses these powdered spices for flavoring and colouring the dishes. These whole spices give the taste and aroma to the main course, sauces, snacks, and desserts. Crushed spices provide the best flavor to the dishes along with texture. The largest market share is currently taken by powder in food services because of its unreserved use.
Distribution Channel Insights
- The global spices and seasonings market has been broadly segmented into retail and foodservices. Supermarkets and hypermarkets, convenience stores, speciality stores, and online platforms are the major types of distribution for all types of spices and seasonings. More importantly, an increased demand for both the consumption of ethnic food and the need for diversified flavor profiles have spurred growth within the retail channels. New taste profiles are also being developed and for that, good quality spices and seasonings are needed by restaurant, café, hotel, and catering service providers. Changing convenience and ready-to-use mixes are other factors fueling the usage of spices and seasonings in the foodservice service.
Recent Development:
- In February 2024, Spice products have potential to boost Indonesia-New Zealand trade. Vice President Ma'ruf Amin, highlighted that animal and spice products have the potential to bolster bilateral trade between Indonesia and New Zealand.
- In August 2022, First Himalayan spice garden inaugurated in Uttarakhand's Ranikhet. A Himalayan spice garden, a first of its kind in the entire Indian Himalayan Region and country, was inaugurated by noted historian Shekhar Pathak in Uttarakhand's Ranikhet. It showcases major Himalayan spices ranging from Kesar from Kashmir to famed Tejpat, Timoor and Wild Heeng, found in the Bhairoghati area of Uttarkashi District.
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Regional Insights
- North America: The North American market for spices and seasonings is both vast and growing. It is driven by consumer demand for convenience, a variety of flavors, and healthier food ingredients. The market includes the segmentations based on product type, form, and currently being dominated by the retail distribution channel.
- Asia Pacific: The market for spices and seasonings in the Asia-Pacific region is swarmed with growth due to rising demands for processed foods, disposable income, and western cuisines. India accounts for the maximum share in the region, followed by China, Japan, and India. The region witnesses a high revenue share due to rising consumption of hot and spicy foods, increased disposable income, as well as social media marketing.
Browse Detail Report on “Spices and Seasonings Market, By Product (Herbs, Spices, Salt & Salts Substitute), By Form (Powder, Whole, Crushed), By Distribution Channel (Retail, Foodservice), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034” with complete TOC @
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