Spices And Seasonings Market Insights
Global spices and seasonings market size was valued at USD 21.3 billion in 2021 and is poised to grow USD 27.4 billion by 2026, growing at a CAGR of 5.2% in the forecast period (2021-2026). The demand for spices and seasonings in the market is mainly propelled by the increasing preference for delectable and unique cuisines, the growth of fast food and packaged food industries, and the shifting consumer inclination towards healthier and more natural products. The spice and seasoning market is a multi-billion dollar industry, as consumers demand a wide range of flavor options for their food and are willing to pay for high-quality, premium spices and seasonings.
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Spices and Seasonings Market Trends
The spices and seasonings market is expected to continue growing in the coming years, driven by several key trends:
- Health and Wellness: Consumers are increasingly interested in the health benefits of spices and herbs. Turmeric, for example, is gaining popularity for its anti-inflammatory properties. This trend is expected to boost demand for organic and sustainably sourced spices.
- Ethnic Flavors: There’s a growing interest in exploring global cuisines. This is leading to a demand for new and exotic spices, along with pre-made spice blends that capture these flavors.
- Convenience: Busy lifestyles are driving the demand for convenient seasoning options. This includes single-serve packets, ready-to-use spice mixes, and seasonings blended specifically for different types of cuisine.
- Sustainability: Consumers are more concerned about the environmental and social impact of their food choices. This is leading to a demand for spices that are ethically sourced and produced using sustainable practices.
Organic spices are preferred as the demand for natural inputs increases
Organic spices are wholesome, non-GMO, and free of insecticides and pesticides. Organics spices are artificially enhanced to be visually appealing. Since organic species are grown without any usage of harmful chemicals to maintain the plant’s phytonutrients properly, the original flavor of spices is preserved. Also, with changing trends in food and a growing interest in the beneficial natural properties of food, consumers take comfort in knowing that their food comes from farms that engage in natural farming practices. For this reason and more, earning the right to use an organic label adds value to brands because it indicates a high-quality product. In the developed regions, such as Europe, the popularity of organic spices is increasing as they are made of natural ingredients and are free from pesticides.
Top Spices and Seasonings Companies
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.
