DUBLIN--(BUSINESS WIRE)--The "Spices and Seasonings Market By Type, By End-use, By Nature, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global spices and seasonings market size is expected to reach USD 33.80 Billion in 2030 and register a revenue CAGR of 5.3% over the forecast period, according to latest report.
Companies Mentioned
- McCormick & Company Inc.
- Olam International Ltd.
- Ajinomoto Co. Inc.
- Associated British Foods Plc
- Kerry Group Plc.
- Ariake Japan Co. Ltd.
- Sensient Technologies Corporation
- Dohler Group
- SHS Group
- Worlee Gruppe
- Pacific Spice Company Inc.
- Paras Spices Private Limited
- VKL Seasoning Pvt. Ltd.
- Friedrich Ingredients DMCC
- Moguntia Food Group Ag.
The market is driven by the growing demand for ready-to-eat and processed foods, changing lifestyles, and increasing disposable incomes. Moreover, the health benefits associated with the consumption of spices and seasonings are expected to drive the growth of the market. However, volatile raw material prices and stringent food safety regulations are expected to restraint the market growth during the forecast period.
Increasing globalization has led to the adoption of various cuisines from different cultures across the globe. This, in turn, has increased the demand for spices and seasonings as they are an integral part of any cuisine. The growing health consciousness among consumers has also resulted in the demand for healthier alternatives such as organic spices and seasonings.
The rising disposable incomes and the growing food service industry are also expected to drive the growth of the spices and seasonings market. The increasing number of working women and the consequent need for convenience foods is another key factor driving the growth of the market.
Growing demand for different cuisines globally, changing lifestyles, and health consciousness among consumers are the major factors driving the growth of the spices and seasonings market. The industry is being fragmented with the presence of numerous small and large players. The key players are resorting to various growth strategies such as mergers & acquisitions, new product launches, and expansions to stay competitive in the market.
Some Key Highlights in the Report
- On the basis of type, the market is segmented into chili peppers, ginger, turmeric, cumin, black pepper, oregano, cloves, and others. The chili peppers segment is projected to grow at the highest CAGR during the forecast period due to the growing demand for spicy food products.
- Based on form, the spices and seasonings market is segmented into powder, paste, granules, and others. The powder form segment is projected to grow at the highest CAGR during the forecast period due to the easy handling and storage of this form.
- The food & beverage application segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for processed, convenience,
- Based on application, the spices and seasonings market is segmented into savory & snacks, sauces & dressings, marinades, rubs & seasonings, soups & stocks, and others. The savory & snacks segment is projected to grow at the highest CAGR during the forecast period due to the growing demand for ready-to-eat and processed foods.
- Based on distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, convenience stores, and others. The supermarkets & hypermarkets segment is projected to grow at the highest CAGR during the forecast period due to the growing preference for one-stop shopping.
- On the basis of distribution channel, the market is segmented into store-based and non-store based. The store-based segment is projected to grow at a higher CAGR due to the growing preference for grocery shopping among consumers.
- The Asia Pacific spices and seasonings market is projected to grow at the highest CAGR over the forecast period due to the increasing population and changing lifestyles in developing countries such as India, China, and Japan. The region has a huge opportunity for the growth of the market as the traditional use of spices in Asian cuisine is very high. Moreover, the presence of a large number of key players in the region is also one of the major factors driving the market growth in this region.
For the purpose of this report, the author has segmented the global spices and seasonings market based on type, end-use, nature, and region:
Type Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Herbs
- Salt & Salts Substitutes
- Spices
- Pepper
- Ginger
- Coriander
- Cardamom
- Cinnamon
- Turmeric
- Cumin
- Nutmeg & Mace
- Others
End-use Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- Meat & Poultry Products
- Soups
- Sauces
- Frozen Products
- Others
Nature Outlook (Revenue, USD Billion, Volume, Kilo Tons;2019-2030)
- Conventional
- Organic
Regional Outlook (Revenue, USD Billion, Volume, Kilo Tons; 2019-2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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