Global Spices and Seasonings Market By Product Type, By Form, By Distribution Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Spices and Seasonings Market Overview:

The global Spices and Seasonings market is projected to reach a valuation of USD 68.09 Bn by 2032 at a CAGR of 6.1%, from USD 37.67 Bn in 2022.

This market’s growth is largely due to the growing consumer awareness about the medicinal benefits of spices and herbs, as well as the increasing number of people who cook at home. The market is also being driven by the willingness of buyers to pay more for ethnic and new flavors. International recognition has been given to local cuisines due to the diversity of their cuisines.

Global Spices and Seasonings Market Scope:

Product Type Analysis

By 2021, the spices segment held the largest share of global revenue and will continue to dominate the market. The globalization of food has made it easier for people to discover different flavors and has increased their demand on the international market. Because spices are versatile and can be made into different flavors, the demand for spices is increasing rapidly in the international market. The most popular spices are turmeric, cinnamon, and pepper. Other spices are also available on the market, including cloves, garlic and cardamom, ginger as well as chili, vanilla, and cumin seeds.

The forecast period sees the herbs segment growing at the second highest CAGR. This is due to the many health benefits of herbs such as basil, garlic, oregano, and fennel. These herbs are becoming more popular because of their unique medicinal properties and delicious taste.

Garlic is used primarily for its unique flavor and strong aroma, but it can also be very effective in treating common illnesses like the flu. It can also be used to treat hypertension and other cardiovascular diseases.

Form Analysis

By 2021, the powder segment held the largest share of global revenue and will continue to dominate the market. Powdered spices are being used by many food service outlets to improve the taste, color, and flavor of prepared foods. Kalsec, a global leader in innovative spice and herb flavor extractions, found that more than half of customers prefer spicy foods for their meals. This is why food processors, restaurants hotels, cafes, and other food manufacturers outlets have used a variety of powdered spices & seasonings. The entire seasoning & spice segment is expected to grow at the second highest CAGR over the forecast period.

Whole spices are used in many dishes and meals, which enhance the flavor and aroma of the food. It can be used in main dishes, appetizers, dips, and sauces as well as condiments and snacks. Many consumers love spicy desserts and drinks containing whole spices, and seasonings, such as rosemary, clove, garlic, and parsley. This is why they are so popular in the food industry.

Distribution Channel Analysis

In 2021, a large portion of global revenue was accounted for by the food service sector. It continues to be the main source of seasonings and spices. cafes, restaurants, hotels, and QSRs are the main food service outlets that offer a variety of seasonings and spices in their dishes. This is because consumers eat out more.

Many food service outlets draw inspiration from the best cuisines, which allows them to create unique and healthier products. Fear of spreading the virus, many food service outlets were closed during the pandemic. This severely affected this sector. Consumers are becoming more comfortable eating out as authorities loosen restrictions on crowd size.

In the years 2023-2032, retail channels are expected to experience faster growth. Globally, there are several large spice processing and marketing firms that grind Seasonings and Spices from both domestic and imported sources. They then pack the spices in various containers and sell them at retailers under their brands or privately labeled names.

As trends buoy demand, retail sales are expected to continue to grow after COVID-19. For people who are used to cooking at home during the pandemic, spice consumption will continue to grow. Consumers have been encouraged to use seasoning to grill meat, fish, or vegetables, which will also drive growth in this market segment.

Кеу Маrkеt Ѕеgmеnts

By Product Type

• Spices
  • Pepper
  • Ginger
  • Cinnamon
  • Others
• Herbs
  • Garlic
  • Oregano
  • Others
• Salt & Salt Substitutes

By Form

• Whole
• Powder
• Crushed

By Distribution Channel

• Foodservice
• Retail

Market Dynamics:

The supply chain for seasonings & spices was significantly affected by the COVID-19 pandemic. Transportation restrictions, government restrictions, labor shortages, and infrastructural interruptions have all had a COVID-19 impact on the industry’s supply chain. Due to weather and water scarcity, the production of spices & herbs is experiencing unprecedented instability.

Additionally, the supply of raw materials and their consumption by the food service industry was affected by the implementation of shutdowns and lockdowns in spice-producing countries like China, India, and Vietnam.

Asian cuisines like Thailand, Indian, Vietnamese, and Chinese all contain many spices and herbs that give unique natural flavors and tastes to their dishes. Cooking at home is becoming a popular choice for many Americans. There has been an increase in sales of spices like ginger and pepper. The market for Spices and Seasonings has seen a surge in sales due to a variety of initiatives and campaigns that encourage people to cook more at home to reduce stress.

Globally, the consumer demand for seasoning is increasing due to changing consumption patterns, increased urbanization, rising incomes, and newer food experiences. A growing number of North American and European customers has increased the application of spices in their cuisines. This is creating new opportunities for spices & seasonings manufacturers on the global market.

The large population and the rise in consumer preferences for authentic ethnic flavors, and the increasing popularity of convenience food are major factors in the spices and seasonings market. Increasing awareness about the nutritional benefits as well as medical benefits of spices and seasonings is driving the North American market.

Regional Analysis

The Asia Pacific was the dominant market for Spices and Seasonings in 2021, accounting for 38.9% of the total in 2021, Asia Pacific contributed the most to the market. The rise in seasoning consumption in the region can also be attributed to an increase in disposable income, the development of many domestic brands of spices, herbs, and increased marketing and promotional activities.

The majority of spices and herbs are grown in Asia Pacific countries like India, Vietnam, and China. This makes the Asia Pacific one of the largest exporters of spices and herbs in the world. Globalization and migration have influenced consumers’ food preferences, opening up new avenues for foodservice outlets to offer a wide range of seasonings to their customers.

From 2023 to 2032, North America is followed closely by the Asia Pacific. Due to consumers’ willingness and desire to try new flavors, as well as the high product demand from Asian immigrants living in the United States, who are keen to learn about ethnic tastes, the market is set to experience significant growth. The major growth drivers of the North American Seasonings and Spices market are Indian cuisines and Asian cuisines, Western cuisines, ethnic cuisine as well as the increasing consumption of cooked food.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Competitive Landscape:

There are a few major players in the Seasonings and Spices market, as well as several smaller and medium players. Ajinomoto Co, Inc., Ariake Japan Co., ltd., SHS Group, Kerry Group plc, EVEREST Food Products Pvt. Ltd., Baria Pepper Co. Ltd., Associated British Foods plc, Kerry Group, Kikkoman Corporation, Moguntia Food Group AG, Ariake japan company, and McCormick & Company Inc. hold the majority of the market share. Manufacturers are pursuing a variety of strategies including product launches, expanding product portfolios, and mergers & Acquisitions.

Маrkеt Кеу Рlауеrѕ:

• Ajinomoto Co, Inc.
• ARIAKE JAPAN CO, LTD.
• Associated British Foods plc
• Kerry
• McCormick & Company, Inc.
• Baria Pepper
• Dohler Group
• SHS Group
• DS Group
• Everest Spices
• Bart Ingredients
• Other Key Players