Meticulous Research®, a trusted leader in global market analysis, has unveiled its latest report titled ‘ Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices {Pepper, Cinnamon, Turmeric}, Herbs {Oregano, Rosemary}, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel - Global Forecast to 2031’. The report outlines the steady growth of the spices & seasonings market, anticipated to reach a global valuation of $30.35 billion by 2031, driven by a 5.3% CAGR from 2024 to 2031.
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The demand for spices and seasonings is fueled by a combination of factors: a surge in convenience food consumption, rising popularity of vegetarian and vegan diets, and the growing inclination toward spicy foods. Despite these positive factors, market growth faces challenges due to the rising occurrence of counterfeit spice products.
Market Growth Opportunities and Emerging Trends
With health consciousness on the rise, there is increasing interest in organic spices and seasonings. This shift towards healthier and natural food options presents substantial growth opportunities for players in the market. Additionally, exotic and ethnic flavors are gaining popularity, enhancing the appeal of a wide variety of spices and seasonings.
Key Industry Players
Leading companies in the spices & seasonings market include McCormick & Company, Inc. (U.S.), Kerry Group plc (Ireland), Döhler Group (Germany), Ajinomoto Co., Inc. (Japan), and several others, all actively shaping this growing market.
Detailed Market Segmentation
Product Type: The spices & seasonings market categorizes products into spices, herbs, and salt & salt substitutes. Spices, which will account for 55.0% of the market by 2024, dominate due to their health benefits, versatility in processed foods, and their essential role in functional food.
Category: Segmented into conventional and organic categories, the organic segment is anticipated to experience a higher CAGR during the forecast period, driven by the shift towards health-conscious consumption, clean labels, and increased government backing for organic production.
Form: Spices and seasonings come in whole, crushed, and powder forms, with powdered forms expected to lead due to their ease of use, blending capabilities, and long shelf life.
Distribution Channel: Food service and retail are the primary distribution channels, with retail forecasted to see higher growth driven by e-commerce expansion, convenience of retail stores, and a rising trend in home cooking.
Geography: Regional growth prospects are led by Europe, projected to achieve the highest CAGR from 2024 to 2031. This is largely due to the continent’s affinity for exotic cuisines, increasing demand for organic options, and growing preference for home-prepared meals.
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