Spices and Seasonings Market to grow at 4.62% CAGR during Forecast Period 2023 to 2030

August 2022/MRFR Press Release/- Market Research Future has published a report on the global Spices And Seasonings Market.

Market Highlights

The global spices and seasonings market is expected to reach USD 25.38 billion by 2030, exhibiting a CAGR of 4.62% from 2023 to 2030. due to consumer preference for organic spices and herbs. Consumers across the globe are realizing the importance of the health benefits of clean-label food ingredients. Moreover, health-conscious consumers consider organic spices to be safer than conventional spices and seasonings.

Based on type, the global spices and seasonings market has been segmented into pepper, ginger, cinnamon, turmeric, cardamom, clove, and others. The pepper segment accounted for the maximum market share in 2030. Pepper is derived from the peppercorn and has been used for centuries to flavor food. Black, green, and white pepper are available in whole or ground form. Black pepper is the most widely used variety worldwide. Its medicinal benefits such as pain reduction and antioxidant properties are the primary drivers for the increasing demand. The turmeric segment is expected to grow at a rapid rate during the forecast period owing to the medicinal benefits and widespread use of turmeric in different cuisines.

By category, the global spices and seasonings market has been classified as conventional and organic. The conventional segment is expected to dominate the global spices and seasonings market during the assessment period. The organic spices and seasonings market is expected to register high growth due to the rising consumer preference for organic spices and herbs.

The global spices and seasonings market has been segregated, by distribution channel, into store-based and non-store-based. The store-based segment has further been segmented into supermarkets and hypermarkets, convenience stores, and others. The store-based segment is expected to dominate the global spices and seasonings market during the assessment period. The non-store-based segment is projected to record the higher CAGR owing to the growth of the e-commerce industry.

Regional Analysis

The global spices and seasonings market has been segmented in four key regions—North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the global spices and seasonings market. The growing importance of aroma in different cuisines and high demand for ethnic foods have resulted in the increased consumption of spices and seasonings.

The spices and seasonings market in Asia-Pacific is expected to grow rapidly due to the increased export of spices and seasonings. India, China, and Sri Lanka are some of the largest producers of spices in the world, which is also driving the growth of the market in Asia-Pacific.

Segmentation

The global spices and seasonings market has been segmented by type, category, distribution channel, and region.

The global spices and seasonings market has been divided, by type, into pepper, ginger, cinnamon, turmeric, cardamom, clove, and others.

By category, the global spices and seasonings market has been classified as conventional and organic.

On the basis of distribution channel, the global spices and seasonings market has been segregated into store-based and non-store-based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others.

Key Players

Some of the key players in the global spices and seasonings market are Ajinomoto Co., Inc. (Japan), Olam International (Singapore), Associated British Foods PLC (UK), Döhler Group (Germany), McCormick & Company, Inc. (US), the SHS Group (UK), Sensient Technologies Corp. (US), Ariake Japan Co., Ltd (Japan), B&G Foods Inc.(US), and Kerry Group PLC (Ireland).