Meticulous Research® forecasts that the spices & seasonings market will reach $30.35 billion by 2031, expanding at a CAGR of 5.3% during the 2024–2031 period. This growth is driven by the rising popularity of convenience foods, an increase in vegetarian and vegan diets, and a heightened demand for spicy foods. However, the market is also constrained by the prevalence of counterfeit spice products.

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The market is likely to benefit from the growing emphasis on health and wellness, along with a surge in demand for organic spices and seasonings. The popularity of ethnic and exotic flavors continues to be a significant trend. Key players in this sector include McCormick & Company, Inc., Kerry Group plc, and Döhler Group, among others.

Segmentation Insights:

• Product Type: The market is divided into spices, herbs, and salt & salt substitutes. Spices are expected to command the largest market share in 2024, attributed to their health benefits and demand for diverse food flavors.
• Category: Conventional versus organic. Organic spices are projected to grow more rapidly due to rising health consciousness and demand for clean label products.
• Form: Whole, crushed, and powder. Powdered spices are projected to dominate due to their versatility and extended shelf life.
• Distribution Channel: Retail versus food service. Retail is anticipated to experience faster growth due to the rise of e-commerce and convenience of online shopping.
• Geography: The market is analyzed across regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is expected to see the highest growth due to increased interest in exotic flavors and organic products.

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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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