Global Spices and Seasonings Market Share to be Worth USD 34.71 Billion by 2030, at CAGR: 5.7% Growth: Polaris Market Research

NEW YORK, April 5, 2022 /PRNewswire/ -- According to research report published by Polaris Market Research, the global spices and seasonings market size & share expected to reach USD 34.71 Billion by 2030 from USD 21.56 Billion in 202, at a compound annual growth rate (CAGR) of 5.7% during forecast period 2022 to 2030.

What is the demand of spices and seasonings? How big is spices and seasonings market?

• Report Overview

Spices come from roots, stems, bark, fruits, and seeds, which are used for coloring, flavoring, and preserving food. While seasoning improves the flavor of food by adding salt and herbs to it. Generally, spices are stems, flowers, leaves, and sometimes powder form. Spices and seasonings are an essential part of the food. Both are used in building aroma and taste in food. They provide health advantages. The packaged food industry is the largest consumer of spices and seasonings. Growing demand for ready-to-use spice mixes in the food-service industry is expected to create new opportunities for the market.

Pepper, cinnamon, turmeric, cumin, ginger, pepper, salt, cloves, oregano, basil, parsley, and coriander are some types of spices and seasoning beneficial for treating ailments like diabetes, brain function, infections, high blood pressure, and cancer in medical studies. Turmeric has antimicrobial, antioxidant, and anti-inflammatory benefits that help prevent illnesses such as Alzheimer's, joint inflammation, and cancer. Similarly, cumin seeds possess antibacterial properties that help in boosting the immune system.

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Key Questions Answered In The Report:

• Which are the five top players in the global spices and seasonings market?
• How will the market change in the next years?
• What are the drivers and restraints of the market?
• Which regional market will show the highest growth?
• What will be the CAGR and size of the market throughout the forecast period?
• How have the market players or the leading global spices and seasonings market firms have addressed the challenges faced during the pandemic?
• What growth opportunities do the spices and seasonings market offer?

Top Global Industry Players Are:

• Ajinomoto Co. Inc
• AKO GmbH
• Ariake Japan Company
• Associated British Foods
• Dohler Group
• Friedrich Ingredients
• Kerry Group
• McCormick & Company Inc.
• Moguntia Food Group AG
• Olam International
• Pacific Spice Company
• Sensient Technologies Corporation
• SHS Group
• Worlee Gruppe
• Zhumadian Wang Shouyi

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Spices and Seasonings Market: Key Growth Drivers

Key factors contributing to the global spices and seasonings market growth involve growing demand for traditional food products and fluctuating dietary preferences of people in emerging countries of the world. The UN's Food and Agriculture Organization (FAO) states that rising income, urbanization, and rapid economic development are also positively influencing the spices and seasonings market growth. In addition, development in convenience & frozen industry and usage of the product as an essential ingredient in various cuisines globally are anticipated to contribute to the growth of the industry. Subsequently, factors such as the hectic work schedules of parents and the increasing number of women in the workforce are driving the demand for ready-to-cook spice mixes. New varieties of aromatic and fusion flavors created for particular and exotic foods are gaining traction among consumers. Moreover, increasing interest in traditional recipes for daily consumption as well as exotic culinary preparations would fuel the market growth. Also, rising seasoning and spice availability in supermarkets & hypermarkets is boosting market demand for spices and seasonings.

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Spices and Seasonings Market: Report Scope

Read Press Release, Global Spices and Seasonings Market Size & Share, 2022-2030

Spices and Seasonings Market: Segmentation

• Insight by Type

On the basis of type, the ginger segment is anticipated to be the most significant market revenue contributor in the global spices and seasonings industry in 2021. The segment is expected to retain its dominance during the forecast period. In the Asia Pacific, most spices hold the most significant market share owing to the anti-bacterial qualities of herbs which provides health benefits. Also, paprika, pepper, oregano, mint, and sesame are some of the popular spices and seasonings that have high market demand because of the fast-growing fast-food business and rising desire for convenience foods. Turmeric is also in high demand as it provides therapeutic benefits and is widely used in Ayurvedic medicine and Indian cuisines in Asian countries.

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Geographic Overview: Spices and Seasonings Market

On the basis of geography, North America dominated the spices and seasonings market with the highest revenue share in 2021 and is expected to continue its dominance due to the growing consumption of various organic food products. Other factors such as the vast population, increasing demand for authentic ethnic flavors, the growing popularity of convenience foods, and increasing awareness of the health benefits of spices and seasonings are driving the market. Also, key players in the region are adopting various strategies such as partnerships, collaborations, mergers and acquisitions, and product launches, which is also favoring the market growth.  The spices and seasoning market is also growing in Europe. Moreover, increased awareness and popularity of spices in this region, the improvement in the usage of condiments and spices are some of the drivers fueling the market growth in Europe.

Browse the Detail Report "Spices and Seasonings Market Share, Size, Trends, Industry Analysis Report, By Type (Pepper, Capsicum, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg & Mace, Cardamom, Coriander, Cloves, Others); Application; Nature (Organic, Conventional); By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/spices-seasonings-market

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Points Highlighted In The Report:

• Major segments have been categorized into sub-segments for detailed examination and a deeper understanding of the industry.
• It presents information in a tabular and graphical style that is simple to understand and compare.
• Drivers, restrictions, opportunities, threats, difficulties, investment possibilities, and recommendations are all examples of industry trends.
• The evaluation of growth traits of spices and seasonings is based upon the CAGR calculated for the forecast period
• It covers all of the essential information about the mentioned key manufacturers, consumers, and distributors running in the market.
• The study analyzes the latest trends and company profiles of the principal spices and seasonings market players.
• For each geographical area, the market share and increase charge are determined

The market is primarily segmented based on type, application, nature, and region.

Spices and Seasonings Market: By Type Outlook

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

Spices and Seasonings Market: By Application Outlook

• Meat & Poultry Products
• Snacks & Convenience Food
• Soups, Sauces, and Dressings
• Bakery & Confectionery
• Frozen Products
• Beverages
• Others

Spices and Seasonings Market: By Nature Outlook

• Organic
• Conventional

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SOURCE Polaris Market Research