Meticulous Research®, a leading global market research firm, has released a new 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."
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According to this latest publication, the global spices & seasonings market is poised to reach $30.35 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031. The market's expansion is primarily fueled by the increasing demand for convenience foods, the rising popularity of vegetarian and vegan diets, and the growing appetite for spicy food products. However, the proliferation of counterfeit spice products poses a significant challenge to market growth.
Key market drivers include the increasing focus on health and wellness, with a growing demand for organic spices and seasonings offering substantial growth opportunities. Additionally, the rising popularity of ethnic and exotic flavors is a prominent trend shaping the market.
Key Players: Prominent players in the spices & seasonings market include:
• McCormick & Company, Inc. (U.S.)
• Kerry Group plc (Ireland)
• Döhler Group (Germany)
• Ajinomoto Co., Inc. (Japan)
• Associated British Foods plc (U.K.)
• ARIAKE JAPAN Co., Ltd. (Japan)
• Baron Spices Inc. (U.S.)
• SHS Group Limited (U.K.)
• Watkins Incorporated (U.S.)
• The Bart Ingredients Company (U.K.)
• Frontier Cooperative (U.S.)
Market Segmentation: The spices & seasonings market is comprehensively segmented by product type, category, form, distribution channel, and geography to provide a detailed analysis:
By Product Type:
• Spices (Pepper, Cardamom, Cinnamon, Ginger, Clove, Nutmeg & Mace, Turmeric, Coriander, Cumin, Chili, and Other Spices)
• Herbs (Oregano, Basil, Thyme, Parsley, Mint, Rosemary, Fennel, and Other Herbs)
• Salt & Salt Substitutes
In 2024, the spices segment is expected to hold the largest market share at 55.0%, driven by increasing awareness of health benefits, demand for diverse flavors in processed foods, and rising interest in functional foods.
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By Category:
• Conventional
• Organic
The organic segment is projected to register a higher CAGR during the forecast period, fueled by a growing number of health-conscious consumers, increasing demand for organic products, sustainability trends, and government support for organic food production.
By Form:
• Whole
• Crushed
• Powder
In 2024, the powder segment is expected to dominate the market, attributed to its ease of use, versatility in mixing with other ingredients, and extended shelf life.
By Distribution Channel:
• Food Service
• Retail
The retail segment is projected to grow at a higher CAGR, driven by the rise of e-commerce, online grocery shopping, and the increasing preference for home-cooked meals.
By Geography:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa
Europe is anticipated to register the highest CAGR during the forecast period, spurred by the rising popularity of exotic cuisines, demand for organic and natural products, and a preference for home-cooked meals.
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