Meticulous Research®, a well-known global market research company, has published an insightful 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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Market Overview
This report forecasts that the spices and seasonings market will reach $30.35 billion by 2031, growing at a CAGR of 5.3% from 2024 to 2031. Key drivers of this market's growth include an increase in demand for convenience foods, a rise in vegetarianism and veganism, and a growing appetite for spicy food products. Nonetheless, the market may be hindered by the rising incidence of counterfeit spice products.

Health-Conscious Consumer Trends
An increasing emphasis on health and wellness and a rising demand for organic spices and seasonings present significant growth opportunities for market participants. Additionally, the popularity of ethnic and exotic flavors is a prevailing trend influencing the spices and seasonings market.

Major Market Players
Key players in the spices and 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.), and Frontier Cooperative (U.S.).

Market Segmentation
The spices and seasonings market is segmented by product type (spices, herbs, and salt & salt substitutes), category (conventional and organic), form (whole, powder, and crushed), distribution channel (food service and retail), and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also includes a competitive landscape analysis at the country level.

Spices Segment Overview
Within the product type segmentation, spices are expected to capture 55.0% of the market share in 2024. This dominance is attributed to growing awareness of the health benefits linked to spices, an increasing demand for processed foods with diverse flavors, and heightened consumer interest in functional foods.

Organic Segment Growth
When examining the category segmentation, organic products are projected to achieve a higher CAGR during the forecast period. The growth in this segment is propelled by a rise in health-conscious consumers, increased demand for organic food products, sustainability trends, and government initiatives supporting organic food production.

Preference for Powdered Spices
The market segmentation by form indicates that the powder segment is poised to account for the largest share in 2024. This preference is due to the advantages of powdered spices, including ease of use, versatility, and longer shelf life. Powdered spices can be incorporated into a variety of dishes, offering customization to suit different tastes.

Retail Channel Dynamics
The spices and seasonings market is segmented by distribution channel into food service and retail. The retail segment is expected to grow at a higher CAGR in the forecast period, fueled by the surge in e-commerce and online grocery shopping, the convenience of retail outlets, and a growing inclination toward home-cooked meals.

Regional Market Insights
The spices and seasonings market is assessed across five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is anticipated to record the highest CAGR during the forecast period from 2024 to 2031. This growth is attributed to the rising popularity of exotic cuisines, an increasing preference for organic and natural products, and a heightened interest in home-cooked meals.

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