According to the latest report by IMARC Group “Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global spices and seasonings market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026.
Spices and seasonings are condiments that offer a particular aroma and unique taste to the dish and enhance the shelf life of the products. They prevent the formation of micro-bacteria, which deteriorates and spoils the quality of food. In recent years, spices and seasonings have extensively been used by consumers worldwide with the growing preference for exotic cuisines and organic ingredients and increasing expenditure on premium products with new flavors and ethnic tastes.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global spices and seasonings market is primarily driven by the rising demand for packaged and convenience food products due to rapid urbanization and fast-paced consumer lifestyles. The rapid growth of the fast-food industry that extensively utilizes spices and seasonings to create innovative, flavor-rich dishes is also contributing to the market growth. Furthermore, in the foodservice sector, ready-to-use spice mixes are used for enhancing the taste and flavor of dishes. Spices and seasonings are also employed in beauty products on account of their medicinal properties. For instance, turmeric consists of antioxidants that are known to prevent Alzheimer’s, joint inflammation, and cancer. Similarly, cumin seeds contain antiseptic properties that boost the immune system. On account of these factors, the market is expected to grow at a CAGR of 6% during the forecast period (2021-2026).
Breakup by Product:
Salt and Salt Substitutes
Herbs
Thyme
Basil
Oregano
Parsley
Others
Spices
Pepper
Cardamom
Cinnamon
Clove
Nutmeg
Others
Breakup by Application:
Meat & Poultry Products
Snacks & Convenience Food
Soups, Sauces and Dressings
Bakery & Confectionery
Frozen Products
Beverages
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Ajinomoto
ARIAKE JAPAN Company
Associated British Foods
Baria Pepper
Döhler
DS Group
Everest Spices
Kraft Heinz Company
Kerry Group
McCormick & Company
Olam International
Sensient Technologies
SHS GROUP
Spice Hunter
Unilever
Worlée
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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