Seasonings And Spices Market
Seasonings and Spices Market Forecasts to 2030 - Global Analysis By Product (Spices, Herbs and Other Products), Nature Type (Conventional, Organic and Other Nature Types), Form, Application, and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $24.28 BN |
|
Projected Year Value (2030) |
US $39.82 BN |
|
CAGR (2023 - 2030) |
7.2% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Seasonings and Spices Market is accounted for $24.48 billion in 2023 and is expected to reach $39.82 billion by 2030 growing at a CAGR of 7.2% during the forecast period. Seasonings and spices play a pivotal role in enhancing the flavor profile of various dishes, transforming ordinary meals into culinary delights. While seasonings refer to a broad category of flavor enhancers such as salt, pepper, and herbs, spices are specific plant-derived substances, often dried, that add distinct flavours and aromas to food. Examples of popular spices include cinnamon, cumin, and paprika. Both seasonings and spices contribute not only to taste but also to the overall sensory experience of a dish.
According to a 2019 survey conducted by Kalsec, a leading global producer of innovative spice and herb flavor extracts, more than half of consumers prefer hot & spicy food options for their meals, owing to which food processors, restaurants, hotels, cafés, among others have been using a variety of powdered spices & seasonings.
Market Dynamics:
Driver:
Convenience and ready-to-use products
Consumers now a days seek time-saving options that eliminate the need for extensive preparation. Ready-to-use seasonings and spices cater to this trend, offering convenience in terms of quick and easy flavor enhancement for meals. The busy lifestyles of consumers drive the preference for pre-mixed, easily accessible spice blends, reducing the time and effort required in the kitchen. These products resonate with busy individuals and families, aligning with the trend of time-conscious cooking. This market trend aligns with the growing emphasis on convenience, making ready-to-use seasonings and spices a significant driver in meeting the evolving needs of modern consumers.
Restraint:
Weather conditions
Harsh weather, such as extreme heat or cold, can alter cooking habits, leading to shifts in the demand for specific spices. For instance, warmer weather might drive a higher demand for lighter, refreshing flavors, while colder climates could boost the sales of warming spices. Natural disasters like hurricanes or droughts can disrupt the supply chain, affecting the production and availability of certain spices. Additionally, seasonal variations in weather can also impact agricultural yields, directly influencing the pricing and accessibility of key spice ingredients, thereby impacting the overall dynamics of the market.
Opportunity:
Creative presentation and packaging
Brands can explore creative packaging designs, incorporating eco-friendly materials or functional features that enhance the user experience. Interactive packaging, such as QR codes linking to recipes or serving suggestions, can engage consumers and add value to the product. Incorporating visually appealing designs and storytelling on packaging can convey the uniqueness and quality of the seasonings, attracting a broader audience. In addition, leveraging augmented reality or smart packaging technologies may further elevate the overall customer experience, making the selection and usage of spices a memorable and convenient process.
Threat:
Changing consumer preferences
With a growing focus on wellness and global flavors, consumers may shift away from traditional seasoning choices towards innovative and ethnic alternatives. The demand for clean labels, organic options, and reduced salt and sugar content can impact traditional seasoning products. Additionally, preferences for convenient and ready-to-use spice blends may challenge traditional formats. To thrive, companies in this market must adapt by introducing healthier, authentic, and convenient offerings that align with evolving consumer tastes and lifestyles.
Covid-19 Impact:
The COVID-19 pandemic has significantly impacted the seasonings and spice market. Lockdowns, disrupted supply chains, and changes in consumer behavior have led to fluctuations in demand and production. While home cooking saw a surge, the closure of restaurants and foodservice industries affected bulk purchases. Supply chain disruptions also resulted in shortages and increased prices for certain spices. Additionally, changing consumer preferences towards healthier options and increased awareness of immune-boosting properties in spices have influenced market dynamics. Overall, the seasonings and spices market has experienced both challenges and opportunities as a result of the pandemic.
The spices segment is expected to be the largest during the forecast period
The spices segment in the seasonings and spices market has witnessed significant growth due to evolving consumer preferences and an expanding culinary landscape. Increasing consumer demand for diverse and exotic flavors, coupled with a rising interest in global cuisines, has fueled the demand for a wide range of spices. The trend towards home cooking and culinary experimentation has further boosted the popularity of spices. Furthermore, the growing awareness of the health benefits associated with certain spices, such as their anti-inflammatory and antioxidant properties, has contributed to the segment's expansion.
The beverages segment is expected to have the highest CAGR during the forecast period
The beverages segment in the seasonings and spices market has experienced substantial growth due to shifting consumer preferences and increased demand for innovative flavor profiles. Consumers are increasingly seeking unique and exotic beverage options, driving the incorporation of diverse spices and seasonings in drinks such as teas, coffees, and cocktails. Additionally, the rise of specialty and craft beverages has further fuelled the demand for distinctive flavor combinations, prompting manufacturers to explore and incorporate a wide array of spices into their beverage offerings.
Region with largest share:
The North American region has witnessed significant growth in the seasonings and spices market, driven by evolving consumer preferences for diverse and exotic flavors. The increasing popularity of ethnic cuisines, coupled with a growing demand for natural and organic products, has fueled market expansion. The dynamic food and beverage industry in North America, marked by culinary innovation and a thriving restaurant culture, further propels the demand for high-quality seasonings and spices. As consumers increasingly prioritize unique and authentic taste experiences, the seasonings and spices market in North America continues to flourish, presenting opportunities for both established and emerging players in the industry.
Region with highest CAGR:
The Asia-Pacific region has witnessed substantial growth in the seasonings and spices market, driven by increasing consumer demand for diverse and authentic flavors. Factors such as a rising population, urbanization, and changing culinary preferences contribute to the expanding market. The region's rich culinary heritage, coupled with a growing awareness of global cuisines, has led to a surge in the consumption of various seasonings and spices. In addition, a flourishing food industry and the popularity of convenience foods have further propelled the market's growth.
Key players in the market
Some of the key players in Seasonings and Spices market include Ajinomoto Co, Inc., Ariake Japan CO, LTD, Associated British Foods plc, Baria Pepper, Baron Spices Inc., Cargill Incorporated, Döhler Group SE, DS Group, Everest Spices , House Foods Group Inc, Kerry Group PLC, McCormick & Company, Inc., Olam International and Sensient Technologies Corporation.
Key Developments:
In November 2023, Ajinomoto Co., Inc. of Japan and Forge Biologics (Forge) of the United States announced a formal agreement under which Ajinomoto Co. would purchase Forge, a leading maker of genetic medicines, for $620 million in cash. Forge will become a fully consolidated subsidiary of Ajinomoto Co., Inc.
In April 2023, Sensient Savory Flavors France, a division of Sensient Technologies Corporation, has launched a new Nacre umami booster extract portfolio, offering multiple benefits to food manufacturers. Nacre, which is extracted from plant protein, qualifies for clean, vegan labelling as a more transparently sourced vegetable umami flavour solution. The ingredient is a sustainable extract, which is naturally produced with an upcycled raw ingredient, minimal processing and low carbon impact.
Products Covered:
• Spices
• Herbs
• Capsicum
• Nutmeg & mace
• Salt & Salts Substitutes
• Other Products
Nature Types Covered:
• Conventional
• Organic
• Other Nature Types
Forms Covered:
• Whole
• Powder
• Crushed
• Other Forms
Applications Covered:
• Meat & Poultry Products
• Frozen Products
• Beverages
• Bakery & Confectionery
• Snacks & Convenience Food
• Soups, Sauces, And Dressings
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Seasonings and Spices Market, By Product
5.1 Introduction
5.2 Spices
5.2.1 Pepper
5.2.2 Turmeric
5.2.3 Cinnamon
5.2.4 Ginger
5.2.5 Cumin
5.2.6 Coriander
5.2.7 Cardamom
5.2.8 Cloves
5.3 Herbs
5.3.1 Mint
5.3.2 Parsley
5.3.3 Oregano
5.3.4 Garlic
5.3.5 Rosemary
5.3.6 Fennel
5.4 Capsicum
5.5 Nutmeg & mace
5.6 Salt & Salts Substitutes
5.7 Other Products
6 Global Seasonings and Spices Market, By Nature Type
6.1 Introduction
6.2 Conventional
6.3 Organic
6.4 Other Nature Types
7 Global Seasonings and Spices Market, By Form
7.1 Introduction
7.2 Whole
7.3 Powder
7.4 Crushed
7.5 Other Forms
8 Global Seasonings and Spices Market, By Application
8.1 Introduction
8.2 Meat & Poultry Products
8.3 Frozen Products
8.4 Beverages
8.5 Bakery & Confectionery
8.6 Snacks & Convenience Food
8.7 Soups, Sauces, And Dressings
8.8 Other Applications
9 Global Seasonings and Spices Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Ajinomoto Co, Inc.
11.2 Ariake Japan CO, LTD
11.3 Associated British Foods plc
11.4 Baria Pepper
11.5 Baron Spices Inc.
11.6 Cargill Incorporated
11.7 Döhler Group SE
11.8 DS Group
11.9 Everest Spices
11.10 House Foods Group Inc
11.11 Kerry Group PLC
11.12 McCormick & Company, Inc.
11.13 Olam International
11.14 Sensient Technologies Corporation
List of Tables
1 Global Seasonings and Spices Market Outlook, By Region (2021-2030) ($MN)
2 Global Seasonings and Spices Market Outlook, By Product (2021-2030) ($MN)
3 Global Seasonings and Spices Market Outlook, By Spices (2021-2030) ($MN)
4 Global Seasonings and Spices Market Outlook, By Pepper (2021-2030) ($MN)
5 Global Seasonings and Spices Market Outlook, By Turmeric (2021-2030) ($MN)
6 Global Seasonings and Spices Market Outlook, By Cinnamon (2021-2030) ($MN)
7 Global Seasonings and Spices Market Outlook, By Ginger (2021-2030) ($MN)
8 Global Seasonings and Spices Market Outlook, By Cumin (2021-2030) ($MN)
9 Global Seasonings and Spices Market Outlook, By Coriander (2021-2030) ($MN)
10 Global Seasonings and Spices Market Outlook, By Cardamom (2021-2030) ($MN)
11 Global Seasonings and Spices Market Outlook, By Cloves (2021-2030) ($MN)
12 Global Seasonings and Spices Market Outlook, By Herbs (2021-2030) ($MN)
13 Global Seasonings and Spices Market Outlook, By Mint (2021-2030) ($MN)
14 Global Seasonings and Spices Market Outlook, By Parsley (2021-2030) ($MN)
15 Global Seasonings and Spices Market Outlook, By Oregano (2021-2030) ($MN)
16 Global Seasonings and Spices Market Outlook, By Garlic (2021-2030) ($MN)
17 Global Seasonings and Spices Market Outlook, By Rosemary (2021-2030) ($MN)
18 Global Seasonings and Spices Market Outlook, By Fennel (2021-2030) ($MN)
19 Global Seasonings and Spices Market Outlook, By Capsicum (2021-2030) ($MN)
20 Global Seasonings and Spices Market Outlook, By Nutmeg & mace (2021-2030) ($MN)
21 Global Seasonings and Spices Market Outlook, By Salt & Salts Substitutes (2021-2030) ($MN)
22 Global Seasonings and Spices Market Outlook, By Other Products (2021-2030) ($MN)
23 Global Seasonings and Spices Market Outlook, By Nature Type (2021-2030) ($MN)
24 Global Seasonings and Spices Market Outlook, By Conventional (2021-2030) ($MN)
25 Global Seasonings and Spices Market Outlook, By Organic (2021-2030) ($MN)
26 Global Seasonings And Spices Market Outlook, By Other Nature Types (2021-2030) ($MN)
27 Global Seasonings And Spices Market Outlook, By Form (2021-2030) ($MN)
28 Global Seasonings And Spices Market Outlook, By Whole (2021-2030) ($MN)
29 Global Seasonings And Spices Market Outlook, By Powder (2021-2030) ($MN)
30 Global Seasonings And Spices Market Outlook, By Crushed (2021-2030) ($MN)
31 Global Seasonings And Spices Market Outlook, By Other Forms (2021-2030) ($MN)
32 Global Seasonings And Spices Market Outlook, By Application (2021-2030) ($MN)
33 Global Seasonings And Spices Market Outlook, By Meat & Poultry Products (2021-2030) ($MN)
34 Global Seasonings And Spices Market Outlook, By Frozen Products (2021-2030) ($MN)
35 Global Seasonings And Spices Market Outlook, By Beverages (2021-2030) ($MN)
36 Global Seasonings And Spices Market Outlook, By Bakery & Confectionery (2021-2030) ($MN)
37 Global Seasonings And Spices Market Outlook, By Snacks & Convenience Food (2021-2030) ($MN)
38 Global Seasonings And Spices Market Outlook, By Soups, Sauces, And Dressings (2021-2030) ($MN)
39 Global Seasonings And Spices Market Outlook, By Other Applications (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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