Seasoning and Spices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The global seasoning and spices market is projected to grow at a CAGR of 4.7%, during the forecast period (2020 - 2025).

• Spices and herbs are more aligned toward health and wellness, along with it, the retail food products manufacturers have also further increased the application of spices and seasonings, so as to fit the taste and preference of the various ethnicities of the consumer across the globe, therefore driving the market forward.
• Products such as ginger, dried capsicum/pimento, uncrushed pepper, Curcuma, cinnamon, and cloves have the most potential for growth in the market. The nutritional benefits of various spices have helped in the growth of the market.
• The changes in the food habits and consumers looking for new mouthfeels, especially an inclination towards Asian Cuisine which includes more spices in the diet has also fueled the market. Adulteration of the spices and seasonings is an important factor that is hindering the growth of the market. Europe is the largest market followed by North America.

Impact of COVID-19 on the Market:

• The market for spices and seasonings have witnessed a rapid uptick with the onset of the coronavirus crisis, wherein some select spices that are meant to provide immunity, such as turmeric, ginger, and garlic, has received tremendous response from consumers, globally. Developed economies that are largely dependent on imports from the developing countries, initially, supply chain risk persisted, however, being one of the most sought-after destinations for herbs, spices, and seasonings, as well as products having a recognizable value and local demand, the market entry at present is less impacted by the same.
• As the crisis has also emphasized the vulnerability of agricultural supply chains and consumers’ long-term dependence on farmers and their workers, the shift toward a sustainable agricultural supply chain has evolved that will eventually address such a global pandemic on the agricultural sector. For instance, the Royal Dutch Spice Association of the Netherlands entered into an Agreement on International Responsible Business Conduct to cater to negative social and environmental impacts. ​

Scope of the Report

The global seasoning and spices market is segmented by product type into salt and salt substitutes, herbs and spices. Herb segment is again fragmented into thyme, basil, oregano, parsley, other herbs. Similarly spice segment is divided into pepper, cardamom, cinnamon, clove, nutmeg, other Spices. By application, the market is segmented into bakery and confectionery, soup, noodles and pasta, meat and seafood, sauce, salad and dressing, savory snack, and other applications.

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Key Market Trends

Rising Salt Consumption to Drive the Market

The increase in salt consumption by food processors across the globe will remain steady owing to the rising demand for the consumption of packaged and convenience foods in a number of countries. The table salt production industry operates with a high level of market share concentration. This is due to expanded product line offerings and production capacity levels for the industry's major players, as well as the purchase of Morton Salt by K+S Group, which served to expand the scale of production with which the company operates.

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