USD 18.65 Billion
Seasoning And Spices Market Size, Share, Growth Analysis, By Type(Pepper, Chili, Ginger, Cinnamon), By Application(Meat, Poultry, Bakery, Confectionery), By Distribution channel(Food service and retail), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30D2003 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
101
|Figures:
76
Seasoning And Spices Market Insights
Global Seasoning And Spices Market size was valued at USD 18.65 Billion in 2019 and is poised to grow from USD 19.55 Billion in 2023 to USD 28.45 Billion by 2031, growing at a CAGR of 4.8% in the forecast period (2024-2031).
Seasoning and spices are commonly used in food and beverages to add flavour, aroma, colour, and taste. The prevalent use of spice and herbal extracts in traditional treatments is estimated to bolster the market growth. The global industry is likely to be driven by urbanization. A paradigm shift in consumer taste preferences is a major factor driving the growth of this market. The new types of chili flavours and combinations are gaining popularity in developed and developing regions. Seasoning and spices are organically derived from plants and are mainly used for their taste value in preparation of various dishes. Apart from its regular use, it offers health benefits in terms of providing anti-oxidants and anti-inflammatory compounds. In some foods, anti-cancer properties are also found and as a result they are used as therapeutic agents for medicinal purposes.
US Seasoning And Spices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
pepper
Growth Rate
4.8% CAGR
Global Seasoning And Spices Market ($ Bn)
Country Share for Europe (%)
To get more reports on the above market click here to Buy The Report
Seasoning And Spices Market Segmental Analysis
The Global Seasoning and Spices Market is segmented based on type as pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves, and others. In terms of application market is segmented as meat and poultry, bakery and confectionery, frozen food, snacks, and convenience food, and others. based on distribution channel, the market is segmented into Food service and retail. Based on region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Seasoning and Spices Market Analysis by Type
In 2021, the ginger category held the highest share of the global spice market, accounting for almost 40% of the total Global Seasoning and Spices Market. In Asia Pacific, most spices have the biggest Seasoning and Spices Market share. This is owing to the antibacterial qualities of spices, which rid foods of germs and hence contribute to human health, lifespan, and reproductive success. Seasoning and Spices such as paprika, pepper, oregano, mint, and sesame are in high demand due to the rapidly expanding fast food business and rising demand for convenience foods. Turmeric use has always been high and is expected to rise further, particularly in Asian nations due to its therapeutic benefits and widespread usage in Ayurvedic medications and Indian cuisine.
Global Seasoning And Spices Market BY Type
To get detailed analysis on other segments, Request For Free Sample Report
Seasoning And Spices Market Regional Insights
The global seasoning and spices industry is divided into four major geographic marketplaces. While Europe has traditionally been the major seasoning and spices market and is mainly known for its cultivation. Asia Pacific on the other hand houses the leading manufacturers for spices and products. With such dynamics, the Asia Pacific regional markets are expected to prosper in the forecast period. Several food application categories in APAC drive long-term.
Global Seasoning And Spices Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Seasoning And Spices Market Dynamics
Seasoning and Spices Market Driver
Growing demand for Spices driven by shift in consumer lifestyle to propel the market growth
- Traditional foods are increasingly being included in people's everyday diets. Growth in urban retail outlets such as supermarkets and hypermarkets are likely to improve spice availability, which is expected to raise demand.
Consumer lifestyles have changed as a result of urbanisation. With more job options, better discretionary money, and a rising number of working women, - people's time spent cooking has decreased. Working hours are long, and schedules are hectic, so many are looking for quick ways to eat without spending a lot of time cooking.
Seasoning and Spices Market Restraint
- Seasoning and Spices are widely used in a variety of culinary industries. Excessive spice consumption, on the other hand, has been shown to be harmful to one's health. The most prevalent negative effect of spicy food, according to some, is digestive problems. Heartburn, also known as acid reflux, happens when stomach acid flows back up into the oesophagus, generating a burning feeling in the chest. This acidity can be produced by spicy meals containing capsaicin, which also slows your digestion rate and increases your chances of experiencing heartburn. Another digestive problem that spicy foods can induce is stomach or intestinal inflammation, which can result in a laxative effect.
Request Free Customization of this report to help us to meet your business objectives.
Seasoning And Spices Market Competitive Landscape
The global spices & seasonings industry is extremely fragmented and competitive, with several competitors present. Companies are becoming more competitive by enhancing their distribution networks, entering into partnerships, acquisitions, expanding into new markets, and so on. Kikkoman Corporation, McCormick & Company, Inc., Olam International, Kerry Group plc, and Sensient Technologies Corporation are among of the market's key participants.
Seasoning And Spices Market Top Players Company Profiles
- McCormick & Company, Inc.
- Unilever Group
- Ajinomoto Co., Inc.
- Associated British Foods plc
- Ariake Japan Co., Ltd.
- Olam International
- Everest Spices
- Baria Pepper
- Worlee Gruppe
- Catch Foods
- Bart Ingredients Company Ltd.
- MDH Spices
- Kerry Group plc
- Fuchs North America
- Knorr
- The Spice House
- Pacific Spice Company
- The Watkins Company
- The Spice Hunter
- The Silk Road Spice Merchant
Seasoning And Spices Market Recent Developments
- In May 2021, Olam Food Ingredients completed the acquisition of renowned US private-label Seasoning and Spices maker Olde Thompson at an EV of USD 950 million.
- In March 2021, Sensient Natural Ingredients LLC (SNI) announced the completion of its acquisition of New Mexico Chili Products Inc., a dehydrated chili production facility in Deming, New Mexico, that processes capsicums and a variety of specialty chilies for commercial sale to CPG food manufacturers, spice blenders, and foodservice customers.
- In February 2021, Kerry announced the completion of its acquisition of the Jining Nature Group. The company is a significant Chinese manufacturer of savoury flavours, seasonings, and prepared food items, with well-established national positions in the savoury flavour and prepared food sectors in China. This acquisition will add to Kerry's portfolio a diverse range of authentic local and regional taste technologies and application capabilities.
Seasoning And Spices Key Market Trends
- Health and wellness programs to drive demand: The "health and wellness" movement drive the natural ingredients market. Consumers are turning to natural alternatives due to the rising prevalence of lifestyle-related ailments such as cardiovascular disease, obesity, osteoporosis, and diabetes. Furthermore, the media's depiction of negative effects to consume synthetic substances has forewarned consumers. As a result, food manufacturers have quickly responded totally or partially replacing synthetic components with natural alternatives.
- Extensive use of spices for meat products: The meat and poultry products are anticipated to register a high growth. The trend of incorporating ethnic flavours into standard meat products to add aesthetic appeal and improve overall quality is expected to propel seasoning and spices market growth.
Seasoning And Spices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global seasoning and spices market report analysis, consumers' interest to try new flavours, and ethnic cuisines, has resulted in a proliferation of spices product followed with a rise in the sale of seasoning and spices. The industry's growth may also be linked to its responsiveness to consumer demand for healthier goods, convenience, and a wide range of tastes.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 18.65 Billion |
| Market size value in 2031 | USD 28.45 Billion |
| Growth Rate | 4.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Seasoning And Spices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Seasoning And Spices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Seasoning And Spices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Seasoning And Spices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Seasoning And Spices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Seasoning And Spices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
