Seasoning & Spices Market Size
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
*Disclaimer: Major Players sorted in no particular order
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Seasoning & Spices Market Analysis
The global seasoning and spices market was valued at USD 17,271.1 million in the current year and is projected to register a CAGR of 4.96% over the upcoming five years.
The market for spices and seasonings has witnessed steady growth in recent decades due to rising demand for functional foods across the globe, wherein some select spices meant to provide immunity, such as turmeric, ginger, and garlic, have received tremendous responses from consumers globally. Additionally, the demand from consumers for high-quality healthy food ingredients, along with the increased preference for trying out new flavors in the foodservice sector and processed food products, is supporting the overall spices and seasonings market’s growth globally, leading to an upward trend during the forecast period.
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 to fit the taste and preferences of the various ethnicities of the consumer across the globe. 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 grow the market. Furthermore, the growing demand for a diverse mix of herbs and spices is expected to be met by ethnic spice blends, mostly related to the increasing popularity of ethnic packaged foods, healthy foods, and growing consumption of convenience, processed, and ready-to-eat dishes.
Seasoning & Spices Industry Segmentation
Spices and seasonings are widely used to add flavor, aroma, color, and taste to food & beverages, and sometimes act as preservatives or antibacterial agents. The global seasoning and spices market (henceforth referred to as the market studied) is segmented by product type, application, and geography. Based on product type, the market is segmented into salt and salt substitutes, herbs and seasonings, and spices. Based on herbs and seasonings, the market is further sub-segmented into thyme, basil, oregano, parsley, and other herbs. Based on spices, the market is further segmented into pepper, cardamom, cinnamon, clove, nutmeg, turmeric, and other spices. Based on the application, the market is segmented into bakery and confectionery, soup, noodles, pasta, meat and seafood, sauces, salads, and dressing, savory snacks, and other applications. By geography, the market is segmented into North America, Asia-Pacific, South America, Europe, Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|Salt and Salt Substitutes|
|Bakery and Confectionery|
|Soup, Noodles and Pasta|
|Meat and Seafood|
|Sauces, Salads, and Dressing|
Seasoning & Spices Market Trends
This section covers the major market trends shaping the Seasoning & Spices Market according to our research experts:
The Demand for Processed Food is Driving Seasoning and Spice Consumption
The growth of the processed food industry is fueling the demand for spices and seasonings. Various food companies are investing in the food processing industry to gain additional market shares. Moreover, there has been an increase in consumer spending owing to changing lifestyles, a rising population of working women, growing product offerings, and penetration of retail channels on savory snacks, soups, noodles, beverages, and ready-to-eat food, particularly in developed countries. Consequently, sectors such as sauces, salads & dressings, are buying more spices, which in turn, is driving the market growth significantly.
In the past few years, it has been observed that consumers are giving paramount importance to health and are shelling out more money on organic food and ingredients owing to their health benefits. Increasing awareness about harmful ingredients and additives in processed food pushes consumers toward organic spices. Some examples of organic spices include mint, rosemary, nutmeg, basil, cardamom, chili, cinnamon, chives, coriander, dill, cumin, ginger, oregano, paprika, parsley, sage, thyme, and turmeric.
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The Seasoning and Spice Market is Expanding Most Swiftly in the Asia-Pacific Region
The seasonings and spices market in Asia-Pacific is the fastest-growing region across the globe due to the improvement in taste for western cuisines and a mix of cultures in the food space. Rising demand for foreign cuisines such as Italian and French foods has also contributed to the increase in demand for herbs and seasonings in the form of spice extracts. In recent years, spice mixes have become a promising area for innovation since spices are an invaluable family of flavoring agents. Due to these factors, Asia is a potential market for spices and seasonings, and manufacturers are offering new products to attract Asian consumers. Other major driving factors of the spices & seasonings market in the region are the growing middle-class population, increasing awareness amongst end-users regarding health, and increased usage of spices as natural preservatives.
Moreover, the rapid increase in demand for healthy and nutrition-rich foods from the health-conscious young population globally has broader the consumer base of this segment of organic food products. Additionally, national and international players follow various strategies such as partnerships, product blend innovations, expansions, etc. For instance, in February 2021, Kerry Group announced that it had completed the acquisition of the Jining Nature Group. The company is a Chinese manufacturer of savory flavors, seasonings, and prepared food products and holds positions in China.
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Seasoning & Spices Industry Overview
The global spices and seasonings market is highly fragmented and competitive with various players. Companies constantly make efforts to optimize the supply chain, which may ensure efficient product circulation in the market. Major manufacturers in the market are constantly making efforts and investing capital in marketing and advertising, with a major focus on bringing awareness to consumers about the flavor profiles and quality of their products. The companies are making themselves more competitive by strengthening their distribution systems, entering partnerships, acquisitions, new regions, expanding product range, etc. Some major players operating in the market are Kikkoman Corporation, McCormick & Company, Inc., Olam International, Kerry Group Plc, and Sensient Technologies Corporation.
Seasoning & Spices Market Leaders
Sensient Technologies Corporation
Kerry Group Plc
*Disclaimer: Major Players sorted in no particular order
Seasoning & Spices Market News
- In January 2022, Kerry officially opened a new 21,500-square-foot state-of-the-art facility at its Jeddah operation in Saudi Arabia.
- In September 2021, Olam Food Ingredients launched the first collection of its new spice blend range, Blends of the Americas. The 17 ready-to-use dry blends offer food manufacturers, foodservice companies, and retailers a simple, clean-label solution for creating consistent and authentic flavors. The range of spice blends includes Spicy Citrus Coast, a modern Mexico blend featuring a scorpion chili kick, ground red pepper, and lime. Warm Sedona Sunset, a Southwest blend that radiates sweet heat through turmeric, ginger, cinnamon, and green cardamom; and Citrus Habanero Jerk, bringing a Jamaican flavor hit to foods with a blend of allspice, habanero, and lime.
- In March 2021, Sensient Natural Ingredients LLC (SNI) announced the acquisition of New Mexico Chili Products Inc., a dehydrated chili production facility in Deming, that processes capsicums and a variety of specialty chilies for commercial sale to CPG food manufacturers, spice blenders, and foodservice customers.
Seasoning & Spices Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
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 Product Type
5.1.1 Salt and Salt Substitutes
5.1.2 Herbs and Seasonings
188.8.131.52 Other Herbs
184.108.40.206 Other Spices
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
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
5.3.3 Asia Pacific
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle East & Africa
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Kikkoman Corporation
6.3.2 Kerry Group PLC
6.3.3 Olam International
6.3.4 Cargill, Incorporated
6.3.5 Sensient Technologies Corporation
6.3.6 House Foods Group Inc.
6.3.7 Döhler Group SE
6.3.8 Baron Spices Inc.
6.3.9 Prymat Sp. z o .o.
6.3.10 SHS Group (British Pepper & Spices)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Seasoning & Spices Market Research FAQs
What is the study period of this market?
The Seasoning and Spices Market is studied from 2018 - 2028.
What is the growth rate of Seasoning and Spices Market?
The Seasoning and Spices Market is growing at a CAGR of 4.96% over the next 5 years.
Which region has highest growth rate in Seasoning and Spices Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Seasoning and Spices Market?
Europe holds highest share in 2021.
Who are the key players in Seasoning and Spices Market?
Kikkoman Corporation, Olam International, Sensient Technologies Corporation, Kerry Group Plc, Cargill Incorporated are the major companies operating in Seasoning and Spices Market.
Seasoning & Spices Industry Report
Statistics for the 2023 Seasoning and Spices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Seasoning and Spices analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.