According to the latest report by IMARC Group “Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global spices and seasonings market size reached US$ 24.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 34.0 Billion by 2027, exhibiting a CAGR of 5.7% during 2022-2027. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Spices and seasonings are condiments that offer a particular aroma and unique taste to the dish and enhance the shelf life of the products. They prevent the formation of micro-bacteria, which deteriorates and spoils the quality of food. In recent years, spices and seasonings have extensively been used by consumers worldwide with the growing preference for exotic cuisines and organic ingredients and increasing expenditure on premium products with new flavors and ethnic tastes.
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Covid-19 Impact:
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global spices and seasonings market is primarily driven by the rising demand for packaged and convenience food products due to rapid urbanization and fast-paced consumer lifestyles. The rapid growth of the fast-food industry that extensively utilizes spices and seasonings to create innovative, flavor-rich dishes is also contributing to the market growth. Furthermore, in the foodservice sector, ready-to-use spice mixes are used for enhancing the taste and flavor of dishes. Spices and seasonings are also employed in beauty products on account of their medicinal properties. For instance, turmeric consists of antioxidants that are known to prevent Alzheimer’s, joint inflammation, and cancer. Similarly, cumin seeds contain antiseptic properties that boost the immune system. On account of these factors, the market is expected to grow at a CAGR of 6% during the forecast period (2021-2026).
Spices and Seasonings Market Report Scope:
|
Report Coverage |
Details |
|
Market size value in 2021 |
US$ 24.7 Billion |
|
Market forecast in 2027 |
US$ 34.0 Billion |
|
Growth Rate |
CAGR of 5.7% from 2022 to 2027 |
|
Base year for Estimation |
2021 |
|
Historical data |
2016-2021 |
|
Forecast period |
2022-2027 |
Breakup by Product:
- Salt and Salt Substitutes
- Herbs
- Thyme
- Basil
- Oregano
- Parsley
- Others
- Spices
- Pepper
- Cardamom
- Cinnamon
- Clove
- Nutmeg
- Others
Breakup by Application:
- Meat & Poultry Products
- Snacks & Convenience Food
- Soups, Sauces and Dressings
- Bakery & Confectionery
- Frozen Products
- Beverages
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Ajinomoto (TYO: 2802)
- ARIAKE JAPAN Company (TYO: 2815)
- Associated British Foods (LON: ABF)
- Baria Pepper
- Döhler (BVMF: DOHL3)
- DS Group
- Everest Spices
- Kraft Heinz Company (NASDAQ: KHC)
- Kerry Group (OTCMKTS: KRYAY)
- McCormick & Company (NYSE: MKC)
- Olam International (SGX: VC2)
- Sensient Technologies (NYSE: SXT)
- SHS GROUP (FRA: SHS)
- Spice Hunter
- Unilever (LON: ULVR)
- Worlée
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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