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The global seasoning and spices market is segmented by Product Type into Salt and Salt Substitutes, Herbs and Spices; by Application into Bakery and Confectionery, Soup, Noodles and Pasta, Meat, and Seafood, Sauce Salad and Dressing, Savory Snack, Other Applications; by Geography
Study Period:
2016 - 2026
Base Year:
2020
Fastest Growing Market:
Asia Pacific
Largest Market:
Europe
CAGR:
4.7 %
The global seasoning and spices market is projected to grow at a CAGR of 4.7%, during the forecast period (2020 - 2025).
Impact of COVID-19 on the Market:
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.
By Product Type | |||||||||
Salt and Salt Substitutes | |||||||||
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By Application | |
Bakery and Confectionery | |
Soup, Noodles and Pasta | |
Meat and Seafood | |
Sauces, Salads, and Dressing | |
Savory Snacks | |
Other Applications |
By Geography | |||||||||
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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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Asia-Pacific is the fastest-growing market in the global spices and seasonings market. China is the largest market in the region followed by the Indian market. The climatic conditions of the region are favorable for the growth of various spices and seasonings. Thus the Asia-Pacific produces the best quality of spices, which brings the major players to the region. Most of the nations in Asia-Pacific use locally produced spices and seasonings. Moreover, an increasing demand is found in the organic spice and seasoning segment. Additionally, a significant percentage of spices from the region are exported to Europe and North America.
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The global spices and seasonings market is highly fragmented and competitive with the presence of various players. The companies are making themselves more competitive by strengthening their distribution systems, entering into partnerships, acquisitions, entering new regions, expanding product range, etc. Some of the major players operating in the market are Kikkoman Corporation, McCormick & Company, Inc., Olam International, Kerry Group plc, Sensient Technologies Corporation.
1. INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Salt and Salt Substitutes
5.1.2 Herbs
5.1.2.1 Thyme
5.1.2.2 Basil
5.1.2.3 Oregano
5.1.2.4 Parsley
5.1.2.5 Other Herbs
5.1.3 Spices
5.1.3.1 Pepper
5.1.3.2 Cardamom
5.1.3.3 Cinnamon
5.1.3.4 Clove
5.1.3.5 Nutmeg
5.1.3.6 Turmeric
5.1.3.7 Other Spices
5.2 By Application
5.2.1 Bakery and Confectionery
5.2.2 Soup, Noodles and Pasta
5.2.3 Meat and Seafood
5.2.4 Sauces, Salads, and Dressing
5.2.5 Savory Snacks
5.2.6 Other Applications
5.3 By Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East & Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Kikkoman Corporation
6.4.2 McCormick & Company, Inc.
6.4.3 Olam International
6.4.4 Kerry Group plc
6.4.5 Sensient Technologies Corporation
6.4.6 Cargill, Incorporated
6.4.7 Doehler GmbH
6.4.8 Bart Ingredients Company Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET