Blended Spices Market Size, Share, Growth Analysis, By Type(Garam masala, berbere, 5 Chinese spices, shichimi togarashi), By Distribution Channel(B2B and B2C), By Region - Industry Forecast 2024-2031

Blended Spices Market size was valued at USD 21.65 Billion in 2022 and is poised to grow from USD 22.86 Billion in 2023 to USD 35.35 Billion by 2031, at a CAGR of 5.6% during the forecast period (2024-2031).

The Blended Spices Market is highly competitive, with a large number of players operating in the market. The market is dominated by several major players. These companies have a strong brand presence, a broad product portfolio, and significant geographical reach. In recent years, there has been an increase in the number of regional players in the market. These players are focusing on product innovation and developing unique blends of spices to cater to changing consumer preferences. For instance, Everest Spices offers a range of blended spices that are specifically designed to cater to regional tastes in India. The market is also witnessing increasing competition from private label brands offered by retail chains such as Walmart, Carrefour, and Tesco. These private-label brands are gaining popularity among consumers due to their low cost and comparable quality. Moreover, companies are adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to expand their market presence and increase their customer base. 'McCormick & Company, Inc. (US)', 'Ajinomoto Co., Inc. (Japan)', 'Everest Spices (India)', 'Olam International (Singapore)', 'Unilever (UK/Netherlands)', 'MDH Spices (India)', 'Associated British Foods plc (UK)', 'Worlee Gruppe GmbH (Germany)', 'Kerry Group plc (Ireland)', 'Fuchs Gruppe (Germany)', 'Badia Spices Inc. (US)', 'Frontier Co-op (US)', 'Baria Pepper (Vietnam)', 'Synthite Industries Ltd. (India)', 'SHS Group (UK)', 'DS Group (India)', 'Bart Ingredients (UK)', 'Goya Foods, Inc. (US)', 'The Kraft Heinz Company (US)', 'ACH Food Companies, Inc. (US)'

With the increasing popularity of ethnic and international cuisines, consumers are showing a growing preference for spices and blends that are commonly used in those cuisines. For instance, the popularity of Indian cuisine has led to a surge in demand for spices such as garam masala and curry powder. Similarly, the popularity of Mexican cuisine has increased the demand for blends such as chili powder and taco seasoning.

Increased focus on sustainable and ethical sourcing: Consumers are increasingly interested in the environmental and social impact of the products they buy, and this trend is also reflected in the blended spices market. Manufacturers are responding by focusing on sustainable and ethical sourcing practices, such as using Fairtrade-certified spices or sourcing from local suppliers.

The Asia Pacific region had the highest revenue share of over 55.0% in 2021 due to the significant demand for blended spices, which is primarily driven by domestic consumption and the food service industry. China has been able to acquire a major share of the market owing to the high color value of its blended spices. India, on the other hand, is well-known for its amazing varieties of blended spices that nurture a rich diversity of cuisines and cultures. The country holds a significant position in the world for blended spice manufacturing, offering over 2000 ranges of spices, such as a blend of whole, chopped, grounded, roasted, and seasoning spices. Additionally, blended spices are widely consumed in other countries in the region, such as Bangladesh, Thailand, and Indonesia.