Seasoning & Spices Market To Expand Industry Growth At USD 57.7 Billion By 2030


 San Francisco, 18 May 2023: The Report Seasoning & Spices Market Size, Share & Trends Analysis Report By Product (Spices, Herbs, Salt & Salts Substitutes), By Form (Whole, Crushed, Powder), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

The global seasoning & spices market is expected to reach USD 57.7 billion by 2030, expanding at a CAGR of 5.6% during the forecast period, according to a new report by Grand View Research, Inc. Consumer willingness to experiment with new flavors and ethnic tastes have been creating the demand for seasoning & spices market. Further, the importance of consumption of herbs & spices for the well being is also driving the market growth.

The growing preference for spiciness and authenticity is leading to the demand for more regional-specific seasonings that add layers of flavor to traditional dishes from other parts of the world. The desire to navigate new taste territories is inspiring innovative seasoning blends that mix and match lesser-known ingredients. Eastern Mediterranean, North African, Southeast Asian, and Indian cuisines are among the top influencers for trending ingredients in the global seasoning & spices market.

The spices segment accounted for the largest share of the global revenue for 2021 owing to the rising demand for ready-to-use spice mixes for specific recipes, which has been creating convenient options for consumers for trying hands-on cooking. Moreover, the health benefits of spices, such as ginger and turmeric in the prevention of colds and coughs, are also driving the demand. Pepper, ginger, and cinnamon are some of the key spices that are trending nowadays among consumers.

The retail segment is expected to grow at a higher CAGR over the forecast period as a greater number of consumers have started cooking during the pandemic, and this trend is likely to grow in the coming years. Consumers purchase spices & herbs from supermarkets & hypermarkets along with other food products in countries such as the U.S. and the U.K. and from convenience stores in countries like India, the UAE, and Indonesia.

The seasoning & spices market is highly competitive and dominated by large multinational manufacturing companies. The players face intense competition, especially from the top players in the seasoning & spices market, as they have a large consumer base, strong brand recognition, and vast distribution networks.

Access Research Report of Seasoning & Spices Market @ https://www.grandviewresearch.com/industry-analysis/seasonings-spices-market

Seasoning & Spices Market Report Highlights

  • The Asia Pacific held the largest segment and is expected to expand at a CAGR of 5.9% during forecast years as its one of the leading producers and exporters of spices and herbs, and the region has been witnessing significant demand for spices and seasoning over the last few years
  • The spices product segment is expected to register the fastest growth during the forecast years, owing to the growing awareness of the health benefits and properties of varied spices
  • The retail segment is expected to register a faster growth, owing to the significant increase in cooking and meal preparation at home worldwide, especially during the pandemic

List of Key Players in the global Seasoning & Spices Market

  • Ajinomoto Co, Inc.
  • ARIAKE JAPAN CO, LTD.
  • Associated British Foods plc
  • Kerry Group
  • McCormick & Company, Inc.
  • Baria Pepper
  • Dohler Group
  • DS Group
  • Everest Spices
  • Bart Ingredients

Access Press Release of Seasoning & Spices Market @ https://www.grandviewresearch.com/press-release/global-seasonings-spices-market

 

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