Caraway Seeds Market - 2023-2030

Caraway Seeds Market - 2023-2030

Global Caraway Seeds Market reached US$ 1.75 billion in 2022 and is expected to reach US$ 2.98 billion by 2030, growing with a CAGR of 6.8% during the forecast period 2023-2030.

Consumer preferences for natural ingredients and flavors drive the use of caraway seeds in various culinary applications. The expansion of the food processing industry, especially in baked goods, snacks, and ready-to-eat meals, leads to higher demand for caraway seeds as a flavoring agent. Caraway seeds are essential in many ethnic cuisines, contributing to their increased adoption in global cooking styles.

About 100% of the daily recommended intake (DRI) of fiber, or 38 g, may be found in 100 g of caraway seeds. By accelerating the meal's passage through the digestive system, dietary fiber makes food heavier and helps avoid constipation. Awareness regarding the health benefits of caraway seeds, such as digestive aid properties and nutritional value, contributes to their higher utilization in health-conscious diets.

Sweet potatoes hold a significant share of the biofortification market due to their high amount of nutrition. Asia-Pacific holds the highest share of the biofortification market due to its significant population, prevalent malnutrition challenges, and extensive governmental and research support. According to FAO stat, in 2021, in Russia, the production of Anise, badian, coriander, cumin, caraway, fennel, and juniper berries, raw is 90062.6 tons.

Dynamics

Growing Awareness of Health Benefits

Caraway seeds are nutrient-dense, offering essential vitamins and minerals often lacking in Western diets. Just 1 tablespoon (6.7 grams) of caraway provides 22 grams of calories, 1.3 grams of protein, 0.9 grams of fat, 2.6 grams of fiber, 5.4% of the DV of magnesium, 3.6% of the DV of calcium, etc. This awareness of their nutritional content has drawn health-conscious consumers towards their incorporation into diets.

Caraway seeds have been traditionally used to aid digestion. Their carminative properties help alleviate bloating, gas, and indigestion, which has garnered attention among consumers seeking natural remedies for digestive issues.

Expansion of Caraway Seeds' Applications in Bakery And Confectionery

The bakery and confectionery industry is growing. According to the American Bakers Association, baked goods made and sold in the United States have a $423 billion economic impact. Commercial bakeries sell $31 billion worth of goods, while retail bakeries bring in about $3 billion annually. Caraway seeds offer a distinctive aromatic and slightly sweet flavor, making them a popular choice for enhancing the taste of bakery products like bread, cakes, biscuits, and cookies.

Caraway seeds not only contribute flavor but also add texture and aesthetics to baked goods. Their unique appearance, with small dark seeds, provides an appealing visual element to various confectionery items. As bakeries and confectionery brands aim for product differentiation and innovation, the inclusion of caraway seeds allows for the creation of unique and flavorful offerings, catering to diverse consumer preferences.

Price Sensitivity of Consumers

Caraway seeds are not as widely cultivated as other spices, leading to a relatively smaller supply. Limited cultivation means fewer crops and a potentially higher cost due to scarcity. Caraway seeds face competition from other spices or herbs available at more competitive prices, influencing consumers to opt for substitutes. Higher prices of caraway seeds compared to alternative spices or seeds might deter budget-conscious consumers from purchasing them regularly.

If the price of caraway seeds increases significantly, consumers might seek cheaper alternatives, impacting market growth. This price sensitivity leads to restraining the caraway seeds market growth globally.

Segment Analysisn

The global caraway seeds market is segmented based on form, distribution channel, application, and region.

Widespread Applications of Caraway Seeds in Various Culinary Applications

The food industry holds the highest share of the caraway seeds market due to their widespread use in various culinary applications. Caraway seeds are extensively employed in foods like bread, pastries, sausages, and various European and Middle Eastern cuisines, contributing significantly to the overall market demand within the food sector.

In April 2021, Jason’s Sourdough, a premium artisan sourdough brand, expanded its presence by entering ASDA stores and online platforms. Their new 'Breads of the World' line, available in about 200 larger ASDA stores, includes the 'New York Inspired' range featuring a classic White and rye Sourdough infused with Caraway Seeds, ideal for creating authentic New York deli-style sandwiches, especially when paired with pastrami and Emmental.

Source: DataM Intelligence Analysis (2023)

Geographical Penetration

Europe’s Growing Bread Consumption

Europe leads the caraway seed market due to its widespread use in traditional European cuisine. The seeds are integral to regional dishes, including bread, sausages, and various savory recipes. According to UK Flour Millers, a trade association, the National Diet and Nutrition Survey conducted by the government estimates that each person consumes 80 grams of bread on average per day, with males consuming 96 grams more than women (66 grams). Their cultural significance and long-standing culinary heritage in European countries drive substantial demand.

Moreover, Europe's rich heritage of artisanal baking and the incorporation of caraway seeds in popular bread varieties contribute significantly to the market's dominance in this region. The seeds' incorporation into traditional recipes and the growing interest in authentic European flavors further solidify Europe's position in the caraway seed market.

Source: DataM Intelligence Analysis (2023)

Competitive Landscape

The major global players include McCormick & Company, Inc, Badia Spices, Pereg Gourmet Spices, B&G Foods, Inc., Mountain Rose Herbs, Nordic Caraway, M/S Vishal Trading Company, Alfa Herbs, Lineark Global, SJM AGRO OVERSEAS INC

COVID-19 Impact Analysis



COVID Impact

The COVID-19 pandemic disrupted the caraway seeds market in various ways. Supply chain disruptions, including transportation limitations and border closures, affected the distribution of caraway seeds. Fluctuating consumer behavior and the closure of restaurants and bakeries impacted the demand for these seeds, especially in the food service sector.

However, the increased interest in home cooking and baking during lockdowns partially offset this decline, as consumers experimented with new recipes that included caraway seeds. Overall, the market faced volatility and shifts in demand patterns due to the pandemic's impacts on consumer habits and the food industry.

Russia- Ukraine War Impact

The Russia-Ukraine war impacted the caraway seeds market due to geopolitical disruptions affecting trade routes and agricultural production. Conflict-related issues such as disrupted supply chains, export limitations, and agricultural disruptions might lead to fluctuations in the availability and pricing of caraway seeds, impacting the global market. These events influenced market stability, trade relations, and pricing dynamics, affecting the overall supply and demand of caraway seeds worldwide.

By Form
• Whole Seed
• Seed Powder

By Distribution Channel
• Supermarket/Hypermarket
• Convenience Stores
• E-Commerce
• Others

By Application
• Food
• Beverages
• Cosmetic and Personal Care
• Pharmaceuticals
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Russia
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In September 2023, Sabra, maker of America's most-loved hummus and plant-based dips and spreads, introduced its latest flavors, Mediterranean Roasted Garlic and Spicy Harissa for Target stores across the Midwest and nationally at Amazon Fresh. Harissa, a hot chili pepper paste, is typically made with roasted red peppers, garlic paste, caraway seeds, coriander seeds, cumin, and olive oil, exhibiting a smokey flavor.

Why Purchase the Report?
• To visualize the global caraway seeds market segmentation based on form, distribution channel, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of caraway seeds market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global caraway seeds market report would provide approximately 61 tables, 59 figures and 181 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies