The global spices and seasonings market size is anticipated to around USD 21.2 billion by 2026, this market is anticipated to grow with 4.2% CAGR during the forecast time period.
Revolution in global consumption pattern & trends and rising consumer preference regarding ethnic cuisines are some of the main growth driver for the seasonings and spices market. Apart from these, occurrence of a huge numeral of unorganized market vendor and varying lifestyles on account of greater economic participation are anticipated to stir up the need for seasoning and spices across the world. Apart above growing medicinal benefits and increasing consumer preferences and taste will continue boosting the seasonings and spices market. Rising consumer inclination for ready-made spices to save time and accomplish true flavour is also providing a boost to the seasonings and spices market. Growing need for trustworthy ingredients and a fusion of ethnic flavours is projected to bolster the growth of the industry.
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Varying taste inclinations of consumers, along with increasing disposable income, and occurrence of a huge number of worldwide as well as local players across the market value chain are among the important trends rising market growth.
The need for spices and herbs is projected to increase at a strong growth rate, while the need for salt & salt alternates is foreseen to remain nominal on account of decreasing consumption globally. Growing need for authentic cuisines on an international level is one of the chief factors boosting the usage of herbs & spices in dressings & sauces. Varying consumer inclinations correlated to flavour in foods & snacks is anticipated to encourage manufacturers to develop products that are tempting, reliable, and high-quality, thus maintaining consistent standards globally.
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Implementation of contemporary cultivation to assist the development of specific herbs in different regions is expected to magnify the production scenario during forthcoming years. Growing need for Chinese herbs worldwide, on account of continuous penetration of Chinese medicine into supplements and pharmaceuticals, is likely to optimistically influence the growth of the spices and seasonings market. On the other hand, the need for herbal supplements is expected to seek moderate development as buyers are placing their confidence and disposable incomes in nutritional & other health supplements to maintain health and decrease the cost of health care in the forthcoming year.
Ready-to-use spice mixes are becoming progressively popular among buyers as they save time and effort and deliver consistency in taste in cookery preparation. The frenzied lifestyles of customers, increasing need for convenience in food preparation, and growing disposable incomes are foremost to surge in demand for ready-to-use spice mixes. Spice and Seasoning businesses are also opening new advertising campaigns to inspire buyers to try recipes at home. All these strategies of players are encouraging buyers to try and use species and herbs at home, which will spur the market growth.
The global seasonings and spices market is segmented into four major segment named product, application, and region. On the basis of product the seasonings and spices market is segmented into herbs, spices and salt & salt substitutes. These herbs are further bifurcated into rosemary, fennel, garlic, mint, parsley, oregano, and others and the spices connected devices is also further segmented into Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves and Others. On the basis of application, the seasonings and spices market is segmented into bakery & confectionary products, meat & poultry products, frozen food, soups, sauces & dressings, beverages, and others. On the basis of region the global seasonings and spices market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
The key players operating in the global spices and seasonings market are Kerry Group, ydler India, Ajinomoto Co, Inc., Biova Gmbh, Associated British Foods Plc, Olam International, VLC Spices, Baria Pepper, Dohler Group, McCormick, and Everest. Acceptance of e-commerce portals among buyers is increasing as they provide service advantages for instance, free home delivery, coupons,and cashback offers. This is boosting the development of spices and seasoning producers to start doing tie-ups with online businesses. Accordingly, product revolution and tie-ups with e-commerce parties are to remain major strategies of manufacturers to be in the competitive.
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TABLE OF CONTENT
CHAPTER 1. INDUSTRY OVERVIEW
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
CHAPTER 4. SEASONINGS AND SPICES MARKET BY PRODUCT
CHAPTER 5. SEASONINGS AND SPICES MARKET BY APPLICATION
CHAPTER 6. NORTH AMERICA SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 7. EUROPE SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 8. ASIA-PACIFIC SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 9. LATIN AMERICA SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 10. MIDDLE EAST SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 11. AFRICA SEASONINGS AND SPICES MARKET BY COUNTRY
CHAPTER 12. COMPANY PROFILE
CHAPTER 13. RESEARCH APPROACH
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