Global Seasoning and Spices Market is valued approximately USD 35.38 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.6 % over the forecast period 2022-2028. Spices are aromatic flavorings from seeds, fruits, bark, rhizomes, and other plant parts. Spices have been highly valued as trade goods for thousands of years and used for seasoning and preserving food, and as medicines, dyes, and perfumes. These attributes are used by the manufacturers to improve their product quality and taste and increase their shelf life. The growing awareness of the medicinal benefits of spices & herbs along with the rising number of people cooking at home has been attributed as the major factor driving the growth of this market. Furthermore, the increasing willingness of consumers to pay a premium price for new and ethnic flavors has been fueling the market. The market for spices and seasonings have witnessed a rapid growth with the onset of the Covid-19 pandemic, wherein some select spices that are meant to provide immunity, such as turmeric, ginger, and garlic, has received tremendous response from consumers, globally. As per Statista, During fiscal year 2021, volume of turmeric production in India accounted to over one million metric tons. Also during this time India exported around 1.71 lakh tonnes of turmeric compared to 1.37 lakh tonnes in the previous year . However, The government restrictions, transportation challenges, labor shortages, supply scarcities, infrastructural interruptions, and import delays have disrupted the supply chain of the industry which as a result impedes the growth of the market over the forecast period of 2022-2028.
The key regions considered for the global Seasoning and Spices Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounted for the greatest market share in 2021 due to an increase in disposable income, the emergence of several domestic brands of spices and herbs, and the rise in marketing and promotional activities. North America, followed by the Asia Pacific, is the fastest-growing segment, due to the fact that the consumers are willing to experiment with new flavors and that there is high demand from Asian immigrants residing in the country, displaying an interest in ethnic tastes.
Major market player included in this report are:
Ajinomoto Co, Inc
Ariake Japan Co, Ltd.
Associated British Foods plc.
Kerry
McCormick and Company, Inc.
Baria Pepper
Dohler group
DS Group
Everest spices
Bart ingredients
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
Spices
Herbs
Salts
Salt substitute
By Form:
Whole
Crushed
Powdered
By Distribution Channel:
Food service
Retail
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019, 2020
Base year - 2021
Forecast period - 2022 to 2028
Target Audience of the Global Seasoning and Spices Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
