Global Seasoning and Spices market size, Trends and Growth opportunity, By Type (Pepper, Cloves, Ginger, Cumin, Cinnamon, Turmeric, Cloves and Others), By Application (Meat and Poultry Products, Soup and Sauces, Dressing, Frozen Products and Others), By R

Global Seasoning and Spices market size, Trends and Growth opportunity, By Type (Pepper, Cloves, Ginger, Cumin, Cinnamon, Turmeric, Cloves and Others), By Application (Meat and Poultry Products, Soup and Sauces, Dressing, Frozen Products and Others), By Region and Forecast Till 2027.

Global Seasoning & Spices Market

The Global Seasoning & Spices market was valued at USD 16.44 billion in 2021 and it is expected to reach at USD 23.78 billion in 2027 at a CAGR 6.3% from 2022-2027.

The rising demand for spices is growing at a fast pace in the global market. Black pepper, Turmeric and coriander are the most consumed spices in the world. However, other spices that are commonly available in the market include cloves, black pepper, cardamom, ginger, cinnamon, chilli, vanilla, and cumin seeds. These seasoning and spices can be used in food items to get flavour. Nowadays people follow hectic schedule and the rising number of women in workforces are escalating the demand for ready-to-cook spice mixes. Furthermore, the increasing willingness of buyers to pay a premium price for new and ethnic flavors has been fueling the Seasoning and Spices market.

Market Drivers

The accelerating consumption and rising income level boosting the demand for seasoning globally. As people nowadays are becoming health conscious, these spices and herbs has numerous health and medical benefits which accelerate the growth of seasoning and spices market. Further consumers are ready to pay premium price for new and ethnic flavors which boost the growth of this market. Moreover, local cuisines are also gaining international recognition, owing to their flavors of cuisines, which are also driving the growth; Digitalization is one of the key factors in procurement of spices and herbs.

Market Restraints

As increasing adulteration in the spices and herbs and rising demand in exotic herbs has grown tremendously, Spices and herbs is deliberately adulterated to maximise profit margin. Also there are some side effects of spicy food such as heartburn, stomach or intestine irritation. Acute gastritis is also possible, with symptoms including nausea and vomiting. According to the Government of India, the nation represented over 65.0% of the complete volume delivered that year. However, adulteration of spices prevents the growth of the market over the forecast period of 2021-2027. The ill effect of this factor act as a restraining factor in the growth of seasoning and spices market.

COVID-19 Impact on Seasoning & Spices Market

With the outbreak of covid-19 has adversely affected the growth of seasoning and spices market. It shutdowns production in mass and disrupt supply chain has affected the economy. But various search studies states the consumption of certain spices can boost immunity which might help in defence against various infection including coronavirus. In the current scenario, it is essential to boost the immunity to fight against certain diseases. Moreover the guidelines of WHO (World Health Organization) also suggest to consume food items that boost immunity. Due to loss in farming also, increased price in raw material lead to increase price of seasoning and spices.

Market Segmentation

The global seasoning and spices market is segmented on the basis Type and Application. On the basis of Type is segmented into pepper, capsicum, ginger, cinnamon, cumin, turmeric, cardamom, coriander, cloves and others. On the basis of Application it is segmented into Meat & poultry products, snacks and convenience food, soups, sauces, and dressings, bakery & confectionery, frozen products, beverages, others, by nature, organic, conventional.

Regional Analysis

The global seasoning and spices Market segmented into five regions North America, Europe, Latin America, Asia Pacific, Middle East and Africa. North America is expected to remain forefront and hold the highest position in terms of market share. Asia pacific had shown the increasing interest and use of flavour and growing awareness of the health benefits, increase in disposable income and properties of spices and herbs that creates lucrative growth for the spices and seasoning market.

Key Players

Various Key Players are listed in this report such as ARIAKE JAPAN CO.LTD, Associated British Foods plc, Kerry Group, McCormick & Company, Inc., Baria Pepper, Dohler Group, DS Group, Everest Spices, Bart Ingredients, Ajinomoto Co, Inc.

Market Taxonomy

By Type

Pepper

Capsicum

Ginger

Cinnamon

Cumin

Turmeric

Cardamom

Coriander

Cloves

Others

By Application

Meat & Poultry products

Snacks and convenience food

Soups and sauces

Dressings

Bakery & confectionery

Frozen products

Beverages

Others.

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Key Question Addressed by the Report

What are the Key Opportunities in Seasoning & Spices Market?

What will be the growth rate from 2022 to 2027.

Which segment/region will have highest growth?

What are the factors that will impact/drive the Market?

What is the role of key players in the value chain?

What is the competitive Landscape in the industry