Medicinal Spices Market Share

Global Medicinal Spices Market Overview

Medicinal Spices Market Size was valued at USD 153.76 Billion in 2023. The Medicinal Spices industry is projected to grow from USD 165.44 Billion in 2024 to USD 276.27 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.62% during the forecast period (2024 - 2032). The surge in demand for medicinal spices in the cosmetic sector is the key market driver enhancing market growth.

Source: Primary Research, Desk Research, MRFR Database and Analyst Review

Medicinal Spices Market Trends

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  The surge in demand for medicinal spices in the cosmetic industry is driving market growth.

  
  

The market CAGR for medicinal spices is driven by a surge in demand for medicinal spices in the cosmetic industry. The cosmetic industry has grown interested in natural and plant-based ingredients, including medicinal spices. These spices are known for their various health benefits and have been used for centuries in traditional medicine. Some popular medicinal spices used in cosmetics include turmeric, ginger, saffron, cinnamon, and cloves. Consumers are becoming more conscious of the ingredients used in cosmetic products and are seeking natural and herbal alternatives. Medicinal spices offer a healthier and more sustainable option than synthetic chemicals. The focus on health and wellness has also influenced the cosmetic industry. Medicinal spices are believed to possess antioxidant, anti-inflammatory, and anti-aging properties, making them attractive for skincare and beauty products. There is a resurgence in interest in traditional remedies and holistic approaches to skincare and beauty. Many medicinal spices have historical significance in traditional medicine practices and are being integrated into modern cosmetic formulations. Companies are actively promoting products that contain medicinal spices as key ingredients, highlighting their benefits and natural origins. This marketing strategy has contributed to the increased demand for such products. As research on the health benefits of medicinal spices advances, more scientific evidence supports their use in cosmetic applications. This validation by the scientific community further boosts consumer confidence in these ingredients.

For instance, in December 2021, SH Kelkar and Company Ltd (SHK), a prominent Indian flavor and fragrance company, recently disclosed its acquisition of a 100% stake in one of the subsidiaries of Holland Aromatics BV in the Netherlands in collaboration with its wholly owned subsidiary Keva Europe BV. This strategic move allows SH Kelkar to expand its presence in the new market and further strengthen its business operations. Thus, driving the Medicinal Spices market revenue.

Medicinal Spices Market Segment Insights

Medicinal Spices Type Insights

Based on type, the Medicinal Spices market segmentation includes turmeric, chili, pepper, cumin, garlic, clove, cinnamon, nutmeg, and others. The turmeric segment dominated the market, accounting for 35% of market revenue (50.01 billion). The turmeric type is expected to hold the largest market share in the medicinal spices market due to its wide range of health benefits, including anti-inflammatory and antioxidant properties, driving its demand in pharmaceuticals, supplements, and functional foods. The garlic type is expected to grow at the fastest CAGR in the medicinal spices market due to its versatile health benefits, such as anti-microbial and heart health properties, leading to increasing use in pharmaceuticals, nutraceuticals, and herbal supplements. Moreover, the growing consumer awareness and preference for natural remedies drive the demand for garlic-based products, accelerating its market growth.

Medicinal Spices Form Insights

Based on form, the Medicinal Spices market segmentation includes seeds, whole, ground/powder, crushed/chopped, roots, minced, flakes, and others. The seeds segment generated the most income (45.4%). The seeds form is expected to hold the largest market share in the medicinal spices market due to its extensive use in various applications, including herbal medicine, culinary uses, and essential oil production, driven by its concentrated flavor and potent therapeutic properties. The minced form is expected to grow at the fastest CAGR in the medicinal spices market due to its convenience and ease of use in food preparation and consumer products, catering to the rising demand for ready-to-use and flavor-enhancing spice solutions.

Medicinal Spices Medicinal Properties Insights

Based on medicinal properties, the Medicinal Spices market segmentation includes anti-flatulent, anti-emetic, diuretic, anti-microbial, anti-bacterial, antispasmodic, and others. The anti-microbial category generated the most income (32.4%). The anti-microbial medicinal properties are expected to hold the largest market share in the medicinal spices market due to the growing focus on natural alternatives for combating infections and diseases, driving the demand for spices with potent anti-microbial properties in various healthcare applications. The anti-bacterial medicinal properties are expected to grow at the fastest CAGR in the medicinal spices market due to increasing awareness of bacterial infections and the need for natural remedies, leading to a higher demand for spices with strong anti-bacterial properties in pharmaceuticals, skincare, and personal hygiene products.

Figure 1: Medicinal Spices Market, by Medicinal Properties, 2022 & 2032 (USD billion)

Source: Primary Research, Desk Research, MRFR Database and Analyst Review

Medicinal Spices Regional Insights

By region, the report provides market developments of North America, Asia-Pacific, Europe and the Rest of the World. The North American Medicinal Spices market will dominate this market due to increasing consumer demand for natural and plant-based ingredients in various industries, including cosmetics, healthcare, and food.

Further, the major nations studied in the market report are The US, Canada, Germany, Italy, Spain, France, the UK, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: MEDICINAL SPICES MARKET SHARE BY REGION 2022 (USD Billion)

Source: Primary Research, Desk Research, MRFR Database and Analyst Review

Europe's Medicinal Spices market accounts for the second-largest market share due to consumers' rising preference for natural and herbal products, along with an increasing awareness of the health benefits of medicinal spices. Further, the German Medicinal Spices market held the largest market share, and the UK Medicinal Spices market was growing at a fast CAGR in the Europe.

The Asia-Pacific Medicinal Spices Market is expected to grow at the highest CAGR from 2023 to 2032. This is due to the North America's large and expanding population and the growing focus on research and development in the pharmaceutical and food industries. Moreover, China’s Medicinal Spices market held the largest market share, and the Indian Medicinal Spices market was the fastest-growing market in the Asia-Pacific.

Medicinal Spices Key Market Players & Competitive Insights

Leading market players are deploying capital in research and development to develop their product lines, which will help the Medicinal Spices market grow even more. Market competitors are also undertaking various strategic activities to expand their footprint, with vital market developments including new product launches, mergers and acquisitions, contractual agreements,higher investments, and collaboration with other organizations. The Medicinal Spices industry must offer cheaper items to expand and survive in a competitive and rising market climate.

Manufacturing locally to lower the operational costs is one of the key business strategy manufacturers use in the Medicinal Spices industry to benefit clients and increase the market sector. The Medicinal Spices industry has offered some of the most significant medical advantages in recent years. Major players in the Medicinal Spices market, including Able agro International (India), SOAP (Sapthsathi Medicinal Agricultural Project) (India), Frontier Natural Products Co-op (U.S.), Sun Impex (Netherlands), Earthen Delight (India), Yogi Botanics (India), Live Organics Pvt Ltd. (India) and others, are attempting to drive the market demand by investing in research and development operations.

Able Agro International, based in India, is a leading player in the medicinal spices industry. The company specializes in cultivating, processing, and exporting a wide range of high-quality medicinal spices, catering to the pharmaceutical, nutraceutical, and herbal medicine sectors. With a strong commitment to sustainable farming practices, Able Agro International ensures that its medicinal spice production is environmentally friendly and meets international quality standards. The company's diverse portfolio includes popular medicinal spices such as turmeric, ginger, black pepper, cinnamon, and cloves. Through its state-of-the-art facilities and stringent quality control measures, Able Agro International maintains the potency and purity of its products, making them highly sought after in the market. Leveraging India's rich biodiversity and traditional knowledge of medicinal plants, the company has carved a niche as a reliable supplier of medicinal spices, providing natural remedies and wellness solutions to customers worldwide. Their commitment to research and innovation further solidifies their position as a prominent player in the medicinal spices industry, poised for sustained growth in the years to come.

Frontier Natural Products Co-Op, based in the United States, is a renowned player in the medicinal spices industry, offering a wide range of high-quality organic and sustainably sourced spices with exceptional health benefits. As a cooperative business, Frontier emphasizes fair trade practices, supporting small farmers and communities worldwide. Their commitment to ethical sourcing and quality control has earned them a reputation as a trusted supplier of medicinal spices to the herbal medicine, alternative medicine, and wellness markets. Frontier's product line includes an impressive array of medicinal spices, such as organic turmeric, cayenne pepper, ginger root, and cinnamon, known for their potent healing properties. The company's dedication to preserving the integrity of the spices during the production process ensures that the natural compounds and active constituents remain intact, delivering maximum health benefits to consumers. With a strong emphasis on sustainability, Frontier Natural Products Co-op stands out as a socially responsible and environmentally conscious player in the medicinal spices industry, catering to health-conscious consumers and businesses alike.

Key Companies in the Medicinal Spices market include.

• General Mills Inc.


• Able agro International (India)


• SOAP (Sapthsathi Medicinal Agricultural Project) (India)


• Frontier Natural Products Co-op (U.S.)


• Sun Impex (Netherlands)


• Earthen Delight (India), Yogi Botanics (India)


• Live Organics Pvt Ltd. (India)


• Others

Medicinal Spices Industry Developments

March 2020: The Central Institute of Medicinal and Aromatic Plants (CIMAP) introduced a herbal sanitizer to meet the increasing demand for sanitizers strategically.

October 2019: The Central Institute of Medicinal and Aromatic Plants (CIMAP) introduced a herbal sanitizer to meet the increasing demand for sanitizers strategically.

Medicinal Spices Market Segmentation

Medicinal Spices Type Outlook

• Turmeric


• Chili


• Pepper


• Cumin


• Garlic


• Ginger


• Clove


• Cinnamon


• Nutmeg


• Others

Medicinal Spices Form Outlook

• Seeds


• Whole


• Ground/Powder


• Crushed/Chopped


• Roots


• Minced


• Flakes


• Others

Medicinal Spices Form Outlook

• Anti-Flatulent


• Anti-Emetic


• Diuretic


• Anti-Microbial


• Anti-Bacterial


• Antispasmodic


• Others

Medicinal Spices Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America