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Russia is Estimated to Grow at the Highest Growth Rate in the Spices & Seasoning

The global spices and seasonings market is expected to grow from USD 21.3 billion in 2021 to USD 27.4 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. Globally, the spices & seasonings market is driven by the growing demand for convenience food products, clean label trends, and natural preservatives for the meat industry. 

However, the growing incidences of adulteration and contamination in the spices exported from developing countries such as India and China are prompting regulatory bodies in Europe and America to strengthen the safety regulations on imported spices and seasonings. Growth in food product innovations to incorporate natural ingredients, increase in demand for health and wellness products, and rise in demand for ethnic and authentic food products are emerging opportunities for the spices & seasonings market.

Europe is the fastest-growing market during the forecast period in the spices and seasonings market

Factors such as the large population and the growing demand for authentic ethnic flavors, the increasing popularity of convenience foods, and growing awareness of the medicinal properties of spices and seasonings are driving the North American market.

Drivers: Rapidly increasing urbanization and changing lifestyles

The rise in urbanization is expected to drive the global spices & seasonings market. According to the World Health Organization, more than 54% of the world population lived in urban areas in 2014, as compared to 34% in 1960. This is projected to grow at an average annual growth rate of 1.84%, to reach approximately 66% by 2050. According to FAO, rapid economic development, income growth, and urbanization are leading to changes in the dietary patterns of people in the Asia Pacific. People are increasingly including traditional food items in their daily food intake. Growth in retail channels such as supermarkets and hypermarkets in urban areas is expected to increase the availability of spice, which in turn is projected to boost the demand for spices and seasonings. Urbanization has led to changes in the consumer’s lifestyle. With high employment opportunities, higher disposable income of people, and an increasing number of working women, the time devoted to cooking has reduced. The working hours are long, and the schedules are hectic, which has led people to look for easy ways to eat without spending much time on cooking.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=739

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the spices and seasonings market. It consists of the profiles of leading companies such as the major spices and seasonings manufacturers include McCormick & Company, Inc. (US), Olam International (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (UK), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Döhler Group (Germany), SHS Group (Ireland), and Worlée Gruppe (Germany). These players have focused on acquisitions to gain a larger market share in the spices & seasonings market.

Scope of the Report:

By Type

  • Pepper
  • Capsicum
  • Ginger
  • Cinnamon
  • Cumin
  • Turmeric
  • Nutmeg & mace
  • Cardamom
  • Coriander
  • Cloves 
  • Others*

By Application

  • Meat & poultry products
  • Snacks & convenience food
  • Soups, sauces, and dressings
  • Bakery & confectionery
  • Frozen products
  • Beverages
  • Others**
  • By Nature
  • Organic
  • conventional

By Region

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Row

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441

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Written by MarketsandMarkets

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