Leading Spices and Seasonings Product Markets Databank

Leading Spices and Seasonings Product Markets Databank

The Spices and Seasonings market was valued at $13,215.2 Million in 2020, and is projected to reach $22,445.5 Million by 2029 growing at a CAGR of 6.12% from 2021 to 2029. Spices segment is expected to be the highest contributor to this market, with $6,301.9 Million in 2020, and is anticipated to reach $10,958.7 Million by 2029, registering a CAGR of 6.39%. Salt & Salts Substitutes segment is anticipated to reach $3,936.1 Million by 2029 with the highest CAGR of 7.42%. Spices and Herbs segments collectively expected to account for about 84.3% share of the Spices and Seasonings market in 2020, with the former constituting around 47.7% share. Salt & Salts Substitutes and Spices segments are expected to witness significant growth rates at a CAGR of 7.42% and 6.39% respectively, during the forecast period. Presently, share of these two segments is estimated to be around 63.4% in the overall Spices and Seasonings market in 2020, and is anticipated to reach 66.4% by 2029.