Spices and seasonings have been historically used in food preparation and their last demand is anticipated to contribute to the steady growth of spices and seasonings market over the coming years. Some of the most commonly used spices are pepper, ginger, chili, garlic, cardamom, cinnamon, nutmeg, turmeric, cumin etc. Seasonings include oregano, basil, coriander, mint, paprika and curry leaves. Countries in central and southeast Asia have been producing and using spices in food preparations for centuries which led to establishment of trade routes solely based on spices. Due to their varied medical benefits and qualities that add interesting flavors to otherwise bland foods, spices have witnessed increasing demand in countries of North America and Europe as well, thus adding impetus to spices and seasonings market.
Due to the wide reaching influence of globalization, the world has become more experimental in food choices. The easy availability of spice mixes all over the world whether through supermarkets or through e-retail has helped in adding growth scopes to spices and seasonings market.
Competitive Landscape:
Some of the leading producers in the spices and seasonings market include Olam International, SHS Group, McCormick Company, Inc., Sensient Technologies Corp., Ariake Japan Co., Ltd, Associated British Foods PLC, Ajinomoto Co., Inc., Döhler Group and Kerry Group PLC.
Segmentation:
Spices and seasonings market has been segmented based on type, category and distribution channel.
By type spices and seasonings market has been divided as cinnamon, ginger, turmeric, clove, cardamom, pepper and others. Pepper has been one of the most commonly used and popular spices over the centuries. In many counties salt and pepper are the only ingredients used in numerous recipes to add flavor. Among the various varieties of pepper such as black, green, and white pepper, black pepper is the most extensively used variety worldwide. Besides enhancing flavor, black pepper has certain medicinal benefits such as antioxidant properties and pain reduction are among the drivers for the black pepper market. As the western world recognizes the medicinal benefits of turmeric, this spice which is mainly used in Southeast Asian cuisine will also witness increased demand.
By category spices and seasonings market is classified as organic and conventional. Though conventional spices and seasonings market segment is expected to dominate the market shares during the forecast period, organic spices and seasonings market share is on the rise and will register high CAGR due to shifting consumer preference for organic spices and herbs.
The global spices and seasonings market has also been segregated, on the basis of distribution channel, into store-based and non-store based. The store-based segment has further been divided into supermarkets and hypermarkets, convenience stores, and others. Consumer have been buying spices and seasonings from stores in supermarkets, hypermarkets, convenience stores, spice markets etc. for centuries. Therefore, store based distribution channel is expected to hold a considerable market share over the review period. But due to the wide reach of e-commerce industry, non-store based distribution channel is expected to gain a considerable traction during the forecast period.
Regional Analysis:
Countries located in the Asia-Pacific such as India, Nepal, Thailand, Myanmar, Vietnam etc. have always been known for the spices they produce. The cuisines of the aforementioned countries consist of a vast variety of spices and seasonings. These countries are not only the users but also some of the leading producers of spices in the world. Therefore, spices and seasonings market in Asia Pacific is expected to witness considerable growth through consumption as well as export of spices.
Use of spices and seasoning to enhance the flavor of foods is a phenomenon that is becoming more common in the western world, especially in the countries of Europe and North America. Moreover, the medical benefits of using spices in food preparation have attracted consumer attention. North America spices and seasonings market is therefore anticipated to register moderate growth over the forecast period.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
