Seasonings And Spices Market

Seasonings And Spices Market Size

[170+ Pages Research Report]  to surpass USD 43.5 billion by 2032 from USD 24.81 billion in 2021 at a CAGR of 5.3% in the coming years, i.e., 2022-32. 

Spices and seasonings help create delicious flavors, and knowing about each one uniquely, helps in adding the right flavor to the food prepared. Spices are natural ingredients from plants that are added to meals to enhance flavor and increase shelf life. Usually from the seeds, fruits, or plant stem. The essential oils that spices contain give them exciting flavors. These oils are released during numerous preparation steps, such as grinding, grating, pounding, and cooking. Spices like cinnamon, pepper, nutmeg, and ginger are some examples. Seasonings are ingredients like salt, sugar, vinegar, and herbs that are added to food to enhance flavor. The efficient application of seasonings in today's kitchen environment is an important aspect of food preparation.

Market Highlights

The Seasonings and Spices Market is expected to project a notable CAGR of 5.3% in 2032.

The primary driver fueling the growth of Seasonings and Spices Market is the increased awareness of the therapeutic properties of spices and herbs, together with the increasing number of individuals who cook at home. The industry is also expanding due to consumers' willingness to pay a premium for new and ethnic flavors as well as local cuisines' increasing international prominence due to their distinct flavors.

Seasonings And Spices Market : Segments

The Spices segment is expected to grow with a higher CAGR during 2022-32

Seasonings And Spices Market is categorized on the basis of Product into Spices, Herbs, and Salt & Salt Substitutes. In terms of market share, the spices industry led the world in 2021 and is predicted to continue leading over the forecast period. Due to increased exposure to different flavors from around the world and increased knowledge of the nutritional advantages of spices, their demand has increased on the global market.

The Retail segment is expected to grow with a higher CAGR during 2022-32

Seasonings And Spices Market is categorized on the basis of Distribution Channel into Foodservice and Retail. The foodservice channel segment registered for a significant global market share in 2021. During the forecast period of 2022 to 2030, the retail channel is anticipated to grow more swiftly. After COVID-19, it is anticipated that retail sales will continue to grow strongly as demand is sustained by trends. As long as people who were used to cooking during the pandemic continue to prepare meals at home, spice consumption will remain high.

Market Dynamics

Drivers

Rising Demand for Processed Meat and Convenience Foods

The rise in demand for convenience foods and processed meats, the growing requirement for clean labelling, and the preference for all-natural flavors and ingredients are the main factors affecting the Seasonings And Spices Market. Veganism and vegetarianism are parts of a rapidly growing global trend. The demand for spices is increasing due to this trend. Food goods that are natural, healthy, and safe are in greater demand as consumers start to place more importance on foods that go beyond mere flavor.

The Growing Retail Outlets in the Urban Areas and Changing Consumer Lifestyles

Traditional cuisine is greatly being incorporated in people's regular diets. The growth of urban retail establishments like supermarkets and hypermarkets would probably increase the availability of spices, which will increase the demand for seasoning and spices. Urbanization has caused changes in consumer lives. The amount of time spent cooking has reduced as a result of more career possibilities, more disposable income, and an increase in the number of working women.

Restraint

Ill-Effects of Excessive Consumption of Spices on the Health

Excessive spice use is found to be harmful to health. The human digestive system is likely to experience adverse effects of spicy food that occurs frequently. When stomach acid flows back up into the oesophagus, it causes heartburn or acid reflux, leading to a burning feeling in the chest area. Spicy foods containing capsaicin can cause this acidity, which also slows down digestion and raises the possibility of heartburn.

Recent Developments

• The Pioneer Woman, a lifestyle brand represented by Earthbound Brands, announced the launch of a new line of unique seasonings in February 2021. These spices were developed in partnership with Old World Spices and Seasonings Inc., the industry leader in spice mix production.
• Trader Joe's launched a new seasoning blend named ‘Everything But the Elote Seasoning Blend’ in February 2020. It has a variety of ingredients, including cumin, dried cilantro, chile pepper, chipotle powder, Parmesan cheese, and sea salt.
• Spice World introduced five varieties in December 2020, including "Aloha! Habanero Pineapple Mango," "Kickin' Chili Onion Crunch," "Sizzlin' Fire Roasted Fajita," "Slammin' Moroccan Spice," and "Viva! Italian Herb & Garlic."

Seasonings And Spices Market: Key Players

• Associated British Foods
• Olam International
• Ajinomoto
• Kerry Group
• The Kraft Heinz Company
• Ariake Japan Group
• Sensient Technologies Corporation
• Worlée Gruppe
• SHS Group
• McCormick
• Baria Group
• Doehler Group
• DS Group
• Everest Spices
• The Bart Ingredients Company
• Other Prominent Players

Seasonings And Spices Market : Regions

Seasonings And Spices Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In 2021, Asia Pacific was the region that contributed majorly to the market. The growing disposable income, the creation of various native brands of spices and herbs, and the expansion of marketing and promotional efforts are all factors contributing to the region's expanding seasoning consumption.

Impact of Covid-19 on Seasonings and Spices Market

In addition to affecting farming operations, the global standstill has had a significant influence on the supply of spices and flavors. The COVID-19 effect on logistics also contributes to rising raw material costs, which raises the cost for producers of medicinal spices and seasonings due to restrictions on the cross-border transfer of goods. Under this pandemic condition, factories rely heavily on local sources of raw materials, which gives suppliers more negotiating power.

Seasonings And Spices Market  is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Seasonings And Spices Market report also contains analysis on:

Seasonings And Spices Market Segments:

• By Product 
  • Spices
  • Herbs
  • Salt & Salt Substitutes 
• By Form 
  • Whole
  • Crushed
  • Powder 
• By Distribution Channel
  • Foodservice
  • Retail 
• Seasonings And Spices Market Dynamics
• Seasonings And Spices Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

Seasonings And Spices Market Report Scope and Segmentation

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