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Spices and Seasonings Market Size, Share & Industry Analysis, By Type (Pepper, Chili, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg and Mace, Cardamom, Cloves, and Others), Application (Meat and Poultry, Bakery and Confectionery, Frozen Food, Snacks and Convenience Food, and Others), and Regional Forecasts 2019-2026

Region : Global | Published Date: Dec, 2019 | Report ID: FBI101694| Status : Published

 

KEY INDUSTRY INSIGHTS

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The global spices and seasonings market size was USD 15.93 billion in 2018 and is projected to reach USD 22.87 billion by 2026, exhibiting a CAGR of 4.7% in the forecast period (2019-2026).


Spices and seasonings are certain ingredients that are used to provide aroma, flavor, preservation, and color to food and beverage products. These spices are derived from various parts of a plant such as flowers, bark, fruits, bud, seeds, leaves, roots, or the plant tops. Spices are widely used as seasonings which help in enhancing the taste of food. There are various types of spices that are used in the food and beverages which include healthy raw materials such as turmeric, pepper, etc. Demand for such healthy spices around the globe indicates the growth trajectory of the market.


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The spices and seasonings market is primarily driven by few factors, such as the rising popularity for ethnic cuisines. It is driving the demand for spice blends and new spices. Spices are often used by the vegan masses as meat substitutes. They often mimic the taste of meat. It is creating several opportunities for the spices and seasoning market growth. Also, the increasing demand for turmeric and is sold as Curcuma in developed regions such as Europe.


MARKET DRIVERS


“Rising Demand for Organic Spices to Drive Spices and Seasoning Market”


The global organic spices market is estimated to be valued between USD 0.7-1 billion, thereby exhibiting a growth rate between 5-7% CAGR. Currently, Vietnam, India, and China are the key exporters of organic spices. Most of the organic spice commodities are made by utilizing various spices such as chilies, garlic, and ginger.


Furthermore, the increasing popularity of organic spices among the consumers in the European region (because these products are free from pesticides and has completely natural ingredients) to drive the demand. Most of the European food processors use organic spices for the sole purpose of product differentiation. Moreover, awareness among the consumers of the medicinal properties of spices is also a factor that influences the demand for organic spices and herbs.


“Demand for Chili Spices Combination to Support the Growth of Market”


In the developed and developing regions, new types of chili flavors and combinations are becoming popular. Change in the consumer taste preference is a major reason driving the spices and seasonings market growth. Chili, a type of spice, is majorly produced in APAC region and is exported to various European countries and to the U.S.


The imports of dried chili to Europe has increased by 7% over the last five years, annually. The imports of chili from developing countries such as India, Vietnam, and China increased from 33,000 tonnes in 2014 to 44,000 tonnes in 2019.


The frequency in the consumption of hot and spicy food is increasing, however, the heat levels remain moderate. Consumers are incorporating various chili combinations in their food such as sweet chili,  honey chili, and others. Various ethnic cuisines also contain the combinations of numerous spices and herbs along with the addition of chili and pepper.


SEGMENTATION


By Type Analysis


“Pepper Segment to Dominate Owing to its High Demand from Food Manufacturers”


Globally, pepper is a leading type of spice owing to its sharp flavor which creates huge demand among the food and beverage manufacturers. It is also used to prevent contamination. It is one of the most valued crops among the other types of spices and seasonings, as there is a huge price fluctuation every year.


Vietnam, India, and the U.S. were the key consumers of pepper in the year 2018 and these countries cumulatively accounted for 41% share of the global market. The other countries are Indonesia, Bulgaria, Singapore, China, Germany, Sri Lanka, U.A.E., U.K., and Malaysia which together hold 33% of the global market share. Besides, the rest of the world holds the final 16% of the global pepper market share in terms of volume.


By Application Analysis


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“Snacks and Convenience Food Segment to Lead Followed by Bakery and Confectionery Segment”


Snacks and convenience food is the leading application segment in the global spices and seasonings market, owing to the increased consumption of snack products in various countries. The bakery and the confectionery segment, on the other hand, is expected to hold the second-largest market share throughout the forecast period. This is likely to occur owing to the exponential growth of the bakery segment in the developing regions such as Asia Pacific. The usage of spices and seasonings in this segment would also grow at a moderate CAGR.


REGIONAL ANALYSIS


“Asia Pacific to Exhibit Exponential Growth: Increasing Population Likely to Accelerate Demand”


In Asia Pacific, the spices and seasonings market is expected to show promising growth, registering a growth rate of 8.4% during the forecast period (2019-2026), as the food processing industry is considered to be a major driver in the APAC region. The population dynamics and the spicy food tradition are certain factors that aids in the exponential growth of this region. India is the largest producer and consumer of spices. The other top producers of spices and seasonings are Turkey, China, and Pakistan. Almost 80% of the global spices and seasonings production is considered to be for ‘captive usage’ in the origin country.


India exports less than 15-20% spices of its own production to other countries. In Asia Pacific, Vietnam is a prominent export-oriented country. It is responsible for 50% (approx) of the global pepper trade. In Asia Pacific, the consumers belonging to several origin countries, use most of the produced spices and seasonings, which is expected to serve as a growth trajectory in the market.


The spices and seasonings market in Europe is witnessing a unique trend of the consumption of organic spices. The organic trend is expected to create various opportunities in the market. Europe is an import-oriented region for the spices and seasonings, in which its imports grew by 4.3% annually from 2014-2018. The major spices that are imported are pepper, capsicums, and ginger. The imports of these spices and seasonings in Europe are expected to witness moderate growth in terms of CAGR, owing to the maturation of the industrial sector.


North America Spices and Seasonings Market Size 2018

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There are certain drivers which aid in the growth of the European spices and seasonings market, such as increased awareness and popularity of the spices in the region, an increasing demand for ready-to-eat food products and convenience food, improved food innovation in the region, enhancement in the usage of condiments and spices for various culinary purposes. These are certain driving factors of the market in the Europe region.


The United Kingdom, Hungary, Germany, and Romania are the leading consuming countries in Europe, which together account for 50-55% of the market share. Buyers from Western Europe and Northern Europe impose stringent food safety rules and regulations. However, the demand in both the regions is steady and slow owing to the consumption of sustainable products.


INDUSTRY KEY PLAYERS


“Key Players Focus on Building New Manufacturing Facilities to Increase Production”


Private labels operating in the spices and seasonings market, such as McCormick and Ajinomoto have set up novel standards for aesthetic appeal, quality, flavors, and innovation that has nudged the organized players to follow a similar pattern.


Moreover, key players in the U.S. are engaged in starting new manufacturing facilities in the developing countries which will utilize the spices from the country of origin to manufacture several products and sell the same. Recently, the U.S. food ingredient manufacturer McCormick introduced its branded spices, seasonings, and herbs in India under the brand name Kohinoor Pvt Ltd.


LIST OF KEY COMPANIES PROFILED:



  • McCormick & Company

  • Kerry Group Plc

  • Ajinomoto Co., Inc.

  • Associated British Foods

  • Dohler Group

  • Olam International Limited

  • Sensient Technologies

  • Worlée-Chemie GmbH

  • Ariake Japan Company

  • SHS Group


Report Coverage 


Spices and seasonings are one of the major flavoring ingredients that are used in food products. The market is estimated to exhibit moderate growth, owing to the price fluctuations every year. But the developing regions are the most prominent ones in this market as they maintain stability.


The report provides qualitative and quantitative insights on the spices and seasonings market and a detailed analysis of the market size and growth rate for all possible segments in the market.  


To get information on various segments, share your queries with us


Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the overview of related markets, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, and key industry trends.


Report Scope & Segmentation








































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD Million)



Segmentation



By Type



  • Pepper

  • Chili

  • Ginger

  • Cinnamon

  • Cumin

  • Turmeric

  • Nutmeg and Mace

  • Cardamon

  • Cloves

  • Others



By Application



  • Meat and Poultry

  • Bakery and Confectionery

  • Frozen Food

  • Snacks and Convenience Food

  • Others



By Region



  • North America (U.S., Canada, and Mexico)

  • Europe (Germany, France, U.K., Spain, Italy, and Rest of Europe)

  • Asia Pacific (China, India, Japan, Australia, and Rest of Asia Pacific)

  • South America (Brazil, Argentina, and Rest of South America)

  • Middle East & Africa (South Africa, UAE, and Rest of the MEA)



 


INDUSTRY DEVELOPMENT:



  • August 2016: Ajinomoto Co., (Thailand) Ltd. launches its new variety of flavor seasoning Ros Dee in the Kingdom of Thailand. The purpose of this launch is to meet the growing demand for flavor seasonings in the country. The company is further expanding its flavor seasonings business in Thailand.

  • December 2018: Kerry Group Plc announced its acquisition of Southeastern Mills coatings and seasonings business. This purchase will help Kerry to strengthen its product portfolio which will further aid in developing its offerings to the end-use market.


Frequently Asked Questions

Fortune Business Insights says that the global consumption of spices and seasonings was USD 15.93 billion in 2018.

The spices and seasonings market will exhibit a CAGR of 4.7% in the forecast period (2019-2026).

Pepper is expected to be the leading type segment in the spices and seasonings market.

An increasing demand for various spice blends and spice mixes among the consumers in developed regions such as the U.S. and Europe is a key driving factor.

McCormick & Company, Kerry Group Plc, Ajinomoto Co., Inc., and Associated British Foods are few of the top players in the spices and seasonings market.

North America is expected to hold the highest market share in the spices and seasonings market in 2019.

Snacks and convenience food segment is expected to showcase the fastest growth in the global spices and seasonings market.

The rising popularity of meat substitutes, sourcing of sustainable spices, and consumption of organic spices and seasonings in various countries are certain trends in the spices and seasonings market.

Spices and Seasonings Market Size, Share and Global Industry Trend Forecast till 2026
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