Seasoning and Spices Market to Surpass 56.88 Billion by 2030 Drives Due to Growing Emphasis on Healthy Food Choices

Jul 11, 2023

SkyQuest projects that the seasoning and spices market will attain a value of USD 56.88 billion by 2030, with a CAGR of 5.6% over the forecast period (2023-2030). The growing emphasis on healthy food choices among contemporary consumers has sparked a heightened interest in the origin of ingredients used in food products. Modern consumers prioritize natural and clean-label flavours and ingredients, driven by their pursuit of "natural" nutrition and a preference for products that offer inherent freshness, wholesomeness, and balanced nutrition in the seasoning and spices market.

Westford, USA, Aug. 11, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the seasoning and spices market has been experiencing significant growth, primarily owing to the growing awareness of their medicinal benefits and the rising number of people cooking at home. As individuals become more conscious of their health and seek natural remedies, spices and herbs have gained attention for their therapeutic properties. Moreover, the increasing home cooking has propelled the demand for spices and herbs to enhance homemade meals' flavour and nutritional value.

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Seasonings and spices enhance various food and beverage products' flavour, aroma, colour, and taste. Moreover, these ingredients have a rich history of use in traditional treatments, further contributing to the seasoning and spices market's growth beyond their culinary applications. In addition, using spice and herbal extracts in conventional remedies and alternative medicine practices has gained recognition, fueling the demand for these ingredients in the global market.

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Prominent Players in Seasoning and Spices Market

McCormick & Company, Inc.

Unilever Group

Ajinomoto Co., Inc.

Associated British Foods plc

Ariake Japan Co., Ltd.

Olam International

Everest Spices

Baria Pepper

Worlee Gruppe

Catch Foods

Bart Ingredients Company Ltd.

MDH Spices

Kerry Group plc

Fuchs North America

Knorr

The Spice House

Pacific Spice Company

The Watkins Company

The Spice Hunter

The Silk Road Spice Merchant

Spices are Expected to Dominate the Market Due to the Increasing Consumer Preferences

The spices segment emerged as the leader in seasoning and spices market share in 2022 and is projected to maintain its dominance throughout the forecast period. Globalization has played a significant role in shaping consumer preferences and exposing individuals to various flavours from different parts of the world. As people become more adventurous in their culinary choices, they seek unique and exotic spices to elevate their dishes. Furthermore, the growing awareness of the nutritional benefits offered by herbs has fueled their demand in the market.

The markets in the North America region are projected to be the fastest-growing segment in the seasoning and spices market from 2023 to 2030. The market in North America, particularly in the United States, is poised for significant growth due to several factors. Firstly, consumers in the U.S. exhibit a strong willingness to experiment with new flavours and culinary experiences, driving the demand for a diverse range of spices and seasonings.

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Ginger Segment is Expected to Grow the Market Due to the Antibacterial Properties Possessed by Spices

The ginger category has emerged as the dominant player in the global seasoning and spices market, commanding nearly 41% of the total market share. However, a significant portion of the market is attributed to various spices, particularly in the Asia Pacific region. This can be attributed to the remarkable antibacterial properties possessed by herbs, which play a crucial role in eliminating harmful germs from food.

Regional markets in the Asia Pacific contributed the most to the spices and herbs in the seasoning and spices market. The region's significant market share can be attributed to various factors. Firstly, the growing consumption of seasonings in the region is driven by the increasing disposable income of the population. As people have more spending power, they can explore and incorporate various spices and herbs into their culinary practices.

A comprehensive analysis of the major players in the seasoning and spices market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.

Key Developments in Seasoning and Spices Market

Recently, Olam Food Ingredients made an exciting launch with 'Blends of the Americas', marking the debut collection in their new range of spice blends. The collection comprises 17 ready-to-use dry blends catering to food service companies, manufacturers, and retailers. These blends offer an easy and clean-label solution for creating authentic and consistent flavours inspired by the popular cuisines of the Caribbean, Mexico, and the U.S. Southwest.

Sensient Natural Ingredients LLC (SNI) completed the acquisition of New Mexico Chili Products Inc., a well-established dehydrated chilli production facility in Deming, New Mexico, in 2021. This acquisition has expanded SNI's capabilities and resources in the speciality chilli segment.

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Key Questions Answered in Seasoning and Spices Market Report

What specific growth drivers are projected to impact the market during the forecast period?

List the top companies in the market and explain how they have achieved their positions of influence.

In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?

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