Global Spices and Seasonings Market Size To Exceed USD 30.90 Billion By 2033 | CAGR of 4.86%
Category: Food & BeveragesGlobal Spices and Seasonings Market Size To Exceed USD 30.90 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Spices and Seasonings Market Size is Expected to Grow from USD 19.22 Billion in 2023 to USD 30.90 Billion by 2033, at a CAGR of 4.86% during the forecast period 2023-2033.
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Browse key industry insights spread across 245 pages with 112 Market data tables and figures & charts from the report on the "Global Spices and Seasonings Market Size, Share, and COVID-19 Impact Analysis, By Type (Pepper, Chili, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg, and Mace, Cardamom, Cloves, and Others), By Application (Meat and Poultry, Bakery and Confectionery, Frozen Food, Snacks & Convenience Food, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/spices-and-seasonings-market
The spices and seasonings industry is the global business engaged in the manufacturing, processing, distribution, and sale of natural and processed food items like herbs, spices, salts, and blends that are applied to flavor, aroma, and color foods and beverages. Moreover, globalization through travel, media, and multicultural communities has generated interest in ethnic flavors. Consumers are using spices such as cumin, paprika, and curry mix at home more and more, fueling growth in specialty and ethnic spice segments globally. Consumers are opting for spices such as turmeric, ginger, and cinnamon due to their natural health benefits, such as anti-inflammatory and antioxidant activities. As consumers look to enhance immunity and lower processed additives, demand for functional and health-supportive spices continues to grow. However, the price of raw spices can vary substantially based on such factors as climate change, crop yield fluctuations, geopolitical tensions, and shifts in global demand. Such variations can drive up the cost of production, impact profit margins, and create volatile prices in the market, making it challenging for manufacturers to plan long-term.
The pepper segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the spices and seasonings market is divided into pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves, and others. Among these, the pepper segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to pepper being a long-shelf-life product, particularly when preserved in its natural form. It can be retained for extended durations without compromising on flavor or aroma, which suits export and bulk supply purposes. Pepper's shelf stability offers a good reason for pepper to be used in both domestic and food-processing sectors.
The meat and poultry segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the spices and seasonings market is divided into meat and poultry, bakery and confectionery, frozen food, snacks & convenience food, and others. Among these, the meat and poultry segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to grilling, roasting, and barbecuing are extremely popular forms of cooking meat and poultry. Such processes may involve seasoning rubs, marinades, and spice mixtures to add flavor and tenderness to meat. Paprika, cumin, garlic, chili powder, and herb mixtures are essential to achieve signature flavors in grilled or barbecued meat. The cultural inclination towards cooking with meat propels the need for spices in this segment.
Asia Pacific is expected to hold the majority share of the global spices and seasonings market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global spices and seasonings market during the forecast period. Spices form an integral part of everyday cooking in nations such as India, China, Thailand, Indonesia, and Vietnam. Most traditional meals depend extensively on a host of spices including turmeric, chili, cumin, ginger, and cardamom, making them basic household items. Asia-Pacific hosts some of the world's most populated countries, such as India and China. With billions of spice consumers per day, the volume of consumption is enormous, which makes the region the market leader.
Europe is anticipated to grow at the fastest pace in the global spices and seasonings market during the forecast period. European consumers are increasingly trying Indian, Thai, Mexican, and Middle Eastern foods, which call for an array of spices. This has generated new demand at the household and restaurant level for worldwide spice blends and herbs.
Major vendors in the global spices and seasonings market are Ajinomoto Co. Inc., Sensient Technologies Corporation, Associated British Food PLC, Kerry Group plc, McCormick & Company Inc., Baria Pepper, Döhler GmbH, DS Group, Everest Spices, Bart Ingredients, Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In July 2024, Bart Ingredients Company teamed up with Bristol creative agency The Space Creative to refurbish its packaging and brand so that it appealed to new-generation food lovers yet remained accessible to its older consumer base. As a first step, this branding exercise involved transforming the packaging for Bart's range of globally-inspired spice mixes, but soon went on to apply to its wider product portfolio comprising over 100 products in herbs, spices, chopped ingredients, pastes, salts, peppers, and seasonings.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the spices and seasonings market based on the below-mentioned segments:
Global Spices and Seasonings Market, By Type
- Pepper
- Chili
- Ginger
- Cinnamon
- Cumin
- Turmeric
- Nutmeg and Mace
- Cardamom
- Cloves
- Others
Global Spices and Seasonings Market, By Application
- Meat and Poultry
- Bakery and Confectionery
- Frozen Food
- Snacks & Convenience Food
- Others
Global Spices and Seasonings Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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