The global seasonings and spices market size is expected to reach USD 20.46
billion by 2025, according to a new report by Grand View Research, Inc.,
expanding at a CAGR of 3.9% during the forecast period. Changing taste
preferences of consumers, along with rising disposable income, and presence of
a large number of international as well as local players across the industry
value chain are among the key trends escalating market growth.
The demand for herbs and spices is
estimated to rise at a healthy growth rate, whereas the demand for salt &
salt substitutes is anticipated to remain nominal on account of declining
consumption globally. Increasing demand for authentic cuisines on a global
level is one of the primary factors bolstering the usage of spices & herbs
in sauces & dressings. Changing consumer preferences related to flavor in
foods & snacks is projected to prompt manufacturers to manufacture products
that are appealing, high-quality, and reliable, thereby maintaining consistent
standards globally.
Implementation of modern cultivation to
facilitate the growth of specific herbs in different regions is poised to
magnify the production scenario over the forecast period. Increasing demand for
Chinese herbs globally, on account of continuous penetration of Chinese
medicine into pharmaceuticals and supplements, is likely to positively
influence the growth of the market. On the other hand, the demand for herbal
supplements is anticipated to seek moderate growth as consumers are placing
their confidence and disposable incomes in nutritional & other health
supplements to maintain health and reduce the cost of health care in the
future.
Ready-to-use spice mixes are becoming
increasingly popular among consumers as they save time and effort and provide
consistency in taste in culinary preparation. The hectic lifestyles of
consumers, growing demand for convenience in food preparation, and increasing
disposable incomes are leading to increase in demand for ready-to-use spice
mixes. Seasoning and spice companies are also starting new advertising
campaigns to encourage consumers to try recipes at home.
Companies such as McCormick and Kerry have
also started campaigns on social media such as Facebook, Pinterest, and Twitter
to help establish their brands' identities. Increasing medicinal benefits and
changing consumer taste and preferences will continue driving the market.
To request a sample copy
or view summary of this report, click the link below:
https://www.grandviewresearch.com/industry-analysis/seasonings-spices-market
https://www.grandviewresearch.com/industry-analysis/seasonings-spices-market
Further key findings from the report suggest:
· The global demand for herbs is expected to
reach USD 6.75 billion by 2025, rising at a CAGR of 3.9% during the forecast
period.
· Among applications, soups, sauces &
dressings were valued over USD 3.7 billion in 2017. They are likely to post a
CAGR of 4.0% during the forecast period
· Central & South America is projected to
witness a CAGR of 3.3% during the same period owing to growing middle class
population, which is poised to fuel the demand for improved quality of food
· Countries in Asia Pacific such as India and
China are anticipated to observe remarkable growth over the forecast years,
progressing at a CAGR of 5.3%, owning to presence of various large scale raw
material sources
· The market is partially consolidated and
competitive in nature, with presence of several global multinational players
· Some of the key companies present in the
market are Ajinomoto Co, Inc.; Associated British Foods Plc; Baria Pepper;
McCormick & Company, Inc.; Everest Spices; MDH; and Kerry
Group
Grand View Research has segmented the
global seasoning and spices market on the basis of product, application, and
region:
Seasoning and Spices Product Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Herbs
·
Salt & Salt substitutes
·
Spices
Seasoning and Spices Application Outlook (Volume,
Kilo Tons; Revenue, USD Billion, 2014 - 2025)
·
Bakery & Confectionary Products
·
Meat & Poultry Products
·
Frozen Food
·
Soups, Sauces &Dressings
·
Beverages
·
Others
Seasoning and Spices Regional Outlook
(Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle east & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
