The global seasonings and spices market size is projected to be worth USD 21.2 Billion by 2026 and the market is projected to showcase 4.2% CAGR during the forecast period. The market is driven by changing taste preferences of consumers
Seasonings and Spices Market Report Coverage
|Market||Seasonings and Spices Market|
|Analysis Period||2015 - 2026|
|Forecast Data||2018 - 2026|
|Segments Covered||By Product, By End-user, By Application and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Kerry Group, ydler India, Ajinomoto Co, Inc., Biova Gmbh, Associated British Foods Plc, Olam International, VLC Spices, Baria Pepper, Dohler Group, McCormick, and Everest.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Seasonings and Spices Market Dynamics
Varying taste preferences of customers, along with increasing disposable income, and presence of a huge number of international as well as local vendors across the market industry value chain are among the key trends mounting seasonings and spices market growth.
Seasonings and Spices Market Insights
The need for herbs and spices is projected to increase at a significant growth rate, while the need for salt & salt alternates is expected to remain nominal on account of waning consumption across the globally. Growing need for genuine cuisines on a global level is one of the main factors boosting the use of herbs & spices in dressings & sauces. Altering consumer fondness related to flavour in snacks and food is expected to prompt manufacturers to produce products, which is appealing, reliable, and high-quality thus maintaining steady standards globally.
Seasonings and Spices Market Classification
The global seasonings and spices market is segmented into four major segment named product, application, and region. On the basis of product the seasonings and spices market is segmented into herbs, spices and salt & salt substitutes. These herbs are further bifurcated into rosemary, fennel, garlic, mint, parsley, oregano, and others and the spices connected devices is also further segmented into Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves and Others. On the basis of application, the seasonings and spices market is segmented into bakery & confectionary products, meat & poultry products, frozen food, soups, sauces & dressings, beverages, and others. On the basis of region the global seasonings and spices market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Seasonings and Spices Market Regional Insights
North America seasonings and spices market is worth 4 billion in 2018. It is expected to account a CAGR of 4.0% during the forecast period. The region holds a high market share in the global spices and seasonings market. The development of this region is driven by surge in consumption of salad with sauces and dressings.
Asia Pacific is expected to showcase the highest CAGR of 4.7% during the forecast period. The APAC region is one of the foremost exporters and producers of herbs and spices. The region has the largest population in the world as compared with other regions and has been observing notable growth in the need for spices and seasonings. Europe region is anticipated to capture about 20.0% of the overall spices and seasonings market value by 2026. Over the past few years, there has been a growing preference regarding the ethnic foods among the population.
Seasonings and Spices Market Participants
The major players associated with the seasonings and spices market are Kerry Group, ydler India, Ajinomoto Co, Inc., Biova Gmbh, Associated British Foods Plc, Olam International, VLC Spices, Baria Pepper, Dohler Group, McCormick, and Everest. Acceptance of e-commerce portals among customers is growing as they provide service benefits for instance, cashback offers, free home delivery, and coupons. This is propelling the growth of spices and seasoning manufacturers to start doing tie-ups with online firms. Consequently, product revolution and tie-ups with e-commerce organisations are to remain major strategies of producers to be in the competitive.
Seasonings and Spices Market Segmentation
Seasonings and Spices Market By Product
Seasonings and Spices Market By Application
Seasonings and Spices Market By Geography