What is the global market size of the Seasoning And Spices Market?

Global Seasoning And Spices Market size was valued at USD 35.38 billion in 2021 and is poised to grow from USD 37.35 billion in 2022 to USD 56.88 billion by 2030, growing at a CAGR of 5.6% in the forecast period (2023-2030).

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

Q: What is the key market trend for the Global Seasoning And Spices Market?

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.

Report ID: SQMIG30D2003 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 101 | Figures: 76

Seasoning And Spices Market News

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 Market Report Snapshots

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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).

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. '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'

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,

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.

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.

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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

Seasoning And Spices Market News

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