Seasoning and Spices Market Size

Spices and Seasonings Market Analysis

The Seasoning and Spices Market size is estimated at USD 19.89 billion in 2024, and is expected to reach USD 25.60 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).

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.