Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global spices and seasonings market size reached US$ 25.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.37% during 2023-2028.The increasing demand for ready-to-eat (RTE) food products, rising utilization in fermented food items, and the growing consumption of herbal teas to improve metabolism represent some of the key factors driving the market.

Spices and seasonings are flavoring agents extracted from plants and other natural sources, which are added to different dishes for enhancing their taste and aroma. They comprise pepper, oregano, paprika, cardamom, cinnamon, cumin, fenugreek, coriander, and asafetida. They also consist of various herbs that are dried and dehydrated and ground into powder, such as rosemary, mint, thyme, and dill. They are a rich source of antioxidants that assist in reducing oxidative stress in the body, fighting against inflammation, and reducing the occurrence of various chronic diseases. They also aid in improving gut health, relieving nausea, lowering abdominal bloating, and managing pain during bowel movements. Spices and seasonings lower blood sugar levels by breaking down carbohydrates and improving insulin sensitivity. They help cure headaches, panic attacks, and anxiety by soothing the nerves when combined and consumed in teas. They also prevent the occurrence of allergies, nasal congestion, and cough with their herbal healing properties. As they improve the flavor of various food items and offer numerous health benefits, spices and seasonings are utilized in the confectionery, food and beverage (F&B), and medical industries across the globe.

Spices and Seasonings Market Trends:
At present, the increasing utilization of spices and seasonings in the food and beverage (F&B) industry to produce various processed foods and bottled beverages represents one of the primary factors influencing the market positively. Besides this, the rising consumption of various convenient and ready-to-eat (RTE) food products to save time and eliminate the requirement of cooking is propelling the growth of the market. In addition, the growing demand for spices and seasonings as preservatives and antibacterial agents to increase the shelf-life of various fermented foods and beverages is offering a favorable market outlook. Apart from this, the rising number of distribution channels and e-commerce brands selling organic spices and seasonings online is contributing to the growth of the market. Additionally, the increasing number of restaurants, cafes, and fast-food chains serving flavorful dishes to consumers is supporting the market growth. Moreover, the rising consumption of healthy herbal teas to soothe nerves, improve metabolism, and enhance digestion is bolstering the market growth. Furthermore, key market players are manufacturing premium quality spice blends with enhanced aroma and flavor to prepare various exotic dishes.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global spices and seasonings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Product Insights:

Salt and Salt Substitutes
Herbs
Thyme
Basil
Oregano
Parsley
Others
Spices
Pepper
Cardamom
Cinnamon
Clove
Nutmeg
Others

The report has provided a detailed breakup and analysis of the spices and seasonings market based on the product. This includes salt and salt substitutes; herbs (thyme, basil, oregano, parsley, and others); and spices (pepper, cardamom, cinnamon, clove, nutmeg, and others). According to the report, spices (pepper, cardamom, cinnamon, clove, nutmeg, and others) accounted for the largest market share.

Application Insights:
Meat & Poultry Products
Snacks & Convenience Food
Soups, Sauces and Dressings
Bakery & Confectionery
Frozen Products
Beverages
Others

A detailed breakup and analysis of the spices and seasonings market based on the application has also been provided in the report. This includes meat and poultry products; snack and convenience foods; soups, sauces and dressings; bakery and confectionery; frozen products; beverages; and others. According to the report, meat and poultry products accounted for the largest market share.

Regional Insights:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Asia Pacific was the largest market for spices and seasonings. Some of the factors driving Asia Pacific spices and seasonings market included the increasing influence of various culture on food habits, rising awareness about medicinal benefits of spices, the burgeoning food processing sector, etc.

Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global spices and seasonings market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Ajinomoto Co. Inc., ARIAKE JAPAN Co. Ltd., Associated British Foods plc, Baria Pepper Co. Ltd., Döhler GmbH, DS Group, EVEREST Food Products Pvt. Ltd., The Kraft Heinz Company, Kerry Group plc, McCormick & Company, Olam International, Sensient Technologies Corporation, SHS Group, Spice Hunter (Sauer Brands Inc.), Unilever plc, and Worlée-Chemie GmbH. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:
How has the global spices and seasonings market performed so far and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global spices and seasonings market?
What are the key regional markets?
Which countries represent the most attractive spices and seasonings markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
What is the competitive structure of the global spices and seasonings market?
Who are the key players/companies in the global spices and seasonings market?