NEW YORK, November 10, 2015 /PRNewswire/ --
The global seasonings and spices market is expected to increase from $12,179 million in 2014, and reach $16,134 million in 2020, with a CAGR of 4.9%. Globalization and varying demographics, and medicinal benefits of spices are some of the factors driving the growth of the global market of seasonings and spices. The consumers trying new and expensive food items and changing food habits is a key trend that can be witnessed in the global seasonings and spices market.
The Asia-Pacific market is expected to witness the fastest growth with a CAGR of 7% during 2015 - 2020. The increasing demand from organic seasonings and spices segment, and online marketing campaigns are expected to give a major boost to the growth of the global market in the near future.
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The use of certain spices and herbs in medicinal fields has also resulted in the increased demand for seasonings and spices. Inefficient logistics and uncertain climatic conditions in the spices producing countries are the major growth challenges for the industry.
The information and data in the publication "Global Seasonings and Spices Market Size, Share, Development, Growth and Demand Forecast to 2020 - Industry Insights by Product (Salt, Pepper, Dried Herbs, Individual and Mixed Spices, Salt Substitutes, Others)" represent the research and analysis of data from various primary and secondary sources. Bottom-up approach has been used to calculate the global seasonings and spices market by product. The market numbers for countries are obtained through top-down approach. P&S Market Research analysts and consultants interact with leading companies of the concerned domain to substantiate every value of data presented in this report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed online and offline research.
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In 2014, Europe was the largest market of seasonings and spices, in terms of value; and the second largest in terms of volume. The market in Asia-Pacific is growing at a rapid pace due to the increasing demand for seasonings and spices from numerous foods application segments. The growing population in developing countries, such as China and India is a major driving force which is influencing the growth of the Asia-Pacific market of seasonings and spices. Improved standard of living which allows users to spend more on quality food items is another factor driving the growth of the market in the region. The innovative new product development that effectively targets the most pertinent consumer needs, such as meeting age-specific nutritional needs, getting the best value and convenience are boosting the growth of the market.
The major companies operating in the global seasonings and spices market include Everest Spices, MDH Spices, Catch, Baria Pepper, Bart Ingredients, McCormick & Company, Nestle, Knorr, Aginomoto Co. Inc, and The Kraft Heinz Company.
SEASONINGS AND SPICES MARKET SEGMENTATION
- Dried Herbs
- Individual and mixed spices
- Salt Substitutes
- North America
- Rest of North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World (ROW)
- Rest of RoW
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