Global Spices and Seasoning Market - 2023-2030

Global Spices and Seasoning Market - 2023-2030

Global Spices and Seasoning Market reached US$ 38.4 billion in 2022 and is expected to reach US$ 58.4 billion by 2030 growing with a CAGR of 5.4% during the forecast period 2023-2030. The rising popularity of ethnic cuisines and the growing demand for ready-to-use spice mixes and spice extracts are driving the spices and seasoning market growth.

The increasing consumer interest in new and ethnic flavors supports expanding the spices and seasoning market growth. The growing health consciousness among consumers and rising demand for natural and organic ingredients drive market growth. Increasing awareness about harmful ingredients and additives in processed food pushes consumers toward organic spices. Culinary herbs and organic spices such as chili, basil, mint, ginger, paprika, and turmeric are gaining popularity.
The rising demand for convenience foods, and the increasing
utility of spices and seasonings in meat & poultry products as natural preservatives are driving market growth. In addition, emerging demand for clean labels, and evolving consumer perception of spicy food products boost the global spices and seasonings market growth. The increasing availability of spices and seasoning in retail outlets such as supermarkets & hypermarkets are likely to boost spices and seasoning market demand.

Market Dynamics
The Growing Demand for Spices and Seasoning Drives the Market Growth.
The increasing urbanization, changing lifestyle, increasing working population, and growing need for healthy intake, drives the spices and seasonings industry’s growth. There is an increase in the consumption of healthy food products consumers due to health consciousness. This trend has led to increasing interest in the origin of the ingredients used to produce the spices and seasoning. The growing consumer preference for natural and clean-label flavors and ingredients is driving market growth.

Increasing awareness about harmful ingredients and additives in processed food pushes consumers toward aromatic, organic spices having a natural flavor and natural color. The spices are available in various forms, such as whole spice, ground spice, and even single-origin spices, are expanding the market. Spices such as cardamom, chili, cinnamon, coriander, turmeric, and others are gaining immense popularity.

Investments in the Digitalization of Spices and Seasoning Supply Chain Drive the Global Hemp Seeds Market Growth.
There is an increasing importance for digitalization in the procurement of spices and seasonings. Sensors and online activities are trending to make the entire supply chain more transparent and sustainable. Most farmers in the world are using these digital technologies like sensors, drones, and satellites. With the help of these technologies, farmers are seeking various solutions for spices production.

Improved water management, pest and disease management, and crop monitoring are a few of the benefits of this digitalization. For instance, in April 2021, the SpiceUp project was initiated by the Netherlands Space Office on digital agriculture. This project helped assist black pepper producers in Indonesia. Thus, the increasing digitalization projects for producing spices are expected to boost the global spices and seasoning market size.

The Adulteration and Ill Effects of Excessive Spice and Seasoning Restrains Market Growth.
The excessive consumption of spices and seasoning cause adverse health effects on the human body. Frequently using these spices and seasonings may cause, high blood pressure, upper gastrointestinal problems, irritation in digestive tract receptors, and others. Some spices may even lead to allergic reactions such as skin rashes and diarrhea.

The rising demand for exotic spices is mainly attributed the spice adulteration. Spices can be adulterated with inferior quality products or adulterants such as artificial colors, lead chromate, papaya seeds, and others. Even the geographical origins have been altered. For example, Asian chilies are sold as chipotle. These factors are hindering the market growth.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global spices and seasoning market is segmented based on product type, end user, and region.
In the Global Spices and Seasoning Market, the Chili & Paprika Seed Segment Holds the Largest Market Share.

The global spices and seasoning market has been segmented by product type into baking, BBQ & grilling, chili & paprika, dips &dressing, marinades, salt & pepper, and others. The chili & paprika segment held the largest spices and seasoning market share of 30.8% in 2022 in the spices and seasoning market analysis report. The increasing demand for chili & paprika is driving the segment’s growth.

Chili and paprika are used to prepare sauces, sausages, and many dishes. They are used for the color, flavor, and less heat they provide. Also, paprika is available at lower prices than pepper making it available for all economic groups and increasing the segment growth. In addition, using chili & paprika in many spice and seasoning blends fuels the segment’s growth.

Geographical Analysis
The North America Region Held the Largest Hemp Seeds Market Share.
The global spices and seasoning market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American spices and seasoning market held the largest market share of 38.6% in 2022 in the spices and seasoning market analysis. The growing awareness about the several health benefits of the spices and seasoning is driving the market growth in this region.

The rising popularity of convenience foods, and rapidly rising knowledge of the therapeutic effects of spices and seasonings boosts the market growth in this region. The new acquisitions and product developments fuel the market growth in this region. For instance, in February 2021, Kerry acquired Jining Nature Group, a renowned Chinese manufacturer of savory spices and seasonings. This helps Kerry access various authentic local and regional flavor technologies.

Competitive Landscape
The major global players in the market include McCormick & Company, Inc.Lawry’s Foods LLC, Savory Spice LLC., Goya Foods, Inc., B&G Foods, Inc., Morton & Bassett LLC., Penzeys Spices, Inc., French’s Food Company LLC., Simply Organic Ltd., and Badia Spices Inc.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the food support and services industry. Covid-19 has considerably impacted the global food supply chain phases involving spices and seasoning production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food support and services industry as well. The COVID-19 pandemic is upending life, and the food support and service sector is seeing increased trends like spices and seasoning. The food support and services businesses are launching innovative programs, including spices and seasoning, that are straightforward to utilize.

Why Purchase the Report?
• To visualize the global spices and seasoning market segmentation based on product type, end user, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of spices and seasoning market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.
The Global Spices and Seasoning Market report would provide approximately 53 tables, 49 figures and 165 Pages.

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