Spices and Seasoning Market: Global Industry analysis and Forecast (2024-2030) by type, application distribution channel and region

Spices and Seasoning Market Overview:

Spices and spices are commonly used in food and beverages to add flavour, aroma, colour, and taste, as well as preservatives and antibacterial agents. Spices and seasonings are used by convenience food makers to improve product quality and taste while also extending shelf life. Consumers' eagerness to try new flavours and their growing interest in ethnic cuisine has resulted in a proliferation of product offers and an increase in spice and seasoning sales. This industry's success can be traced to its ability to respond to consumer demand for healthier products, convenience, and a wide range of flavours. China, Vietnam and India are among the largest exporters of spices around the globe. Spices and Seasoning Market Covered Segment by type application, distribution channel and region.

 

 

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Spices and Seasoning Market Dynamics:

Driving Factors

One of the important drivers driving the Spices and Seasoning Market growth are the growing hospitality industry, as well as the growing inclination for ready-to-eat and ready-to-drink items. Furthermore, customers are increasingly interested in trying new cuisines and flavor-packed foods made with a variety of spices and seasonings. They're also used as natural preservatives to limit microbial activity and preserve the quality of meat and poultry. Spices and seasonings are high in antioxidants, and many of them are thought to have therapeutic characteristics, thus they're used to treat a variety of illnesses.

 

Increase in demand of pre-mix and ready to eat food

Increase in demand of pre-mix and ready to eat food drive the demand of Spices and Seasoning market. Consumers are increasingly turning to ready-to-cook spice blends because of its time- and effort-saving benefits. With no effort, these pre-mix containers ensure uniformity in food flavour. As a result, due to parents' busy work schedules and the growing number of women in the workforce are boosting demand for ready-to-cook spice mixes. Consumers are becoming more interested in new aromatic and fusion flavours produced for specific and exotic foods.

 

COVID-19 impact and supply chain disruption

Impact of COVID-19 on Spices and Seasoning market are Covered in the report. Spices' demand has skyrocketed since they were recognised as a health supplement, particularly during the epidemic. With the outbreak of the coronavirus, the market for spices and seasonings has exploded, with some spices that are thought to provide immunity, such as turmeric, ginger, and garlic, generating a massive response from consumers all over the world. Supply chain risk remained initially in developed economies that rely heavily on imports from developing countries; however, as one of the most sought-after destinations for herbs, spices, and seasonings, as well as products with a recognisable value and local demand, market entry is now less impacted.

 

Problem of adulteration in spices

Since the demand for spices has grown internationally over the years, there has been increase in the adulteration as well. The goal to maximise business margins is usually the driving force behind deliberate adulteration. Spices and herbs can be substituted for other plants or artificial colours, and flavourings not mentioned can be added. It's also possible that the origins have been changed. Food fraud is a major issue in the spice and herb industry, and it is projected to hinder Spices and Seasoning market growth in the forecast period.

 

Negative effects of excessive consumption

Spices and seasonings have a wide range of applications in the food industry. Spice use in excess, on the other hand, has been shown to be harmful to one's health. The digestive system is, without a doubt, the most common adverse effect of spicy meals. Acid reflux, often known as heartburn, happens when stomach acid backs up into the oesophagus, causing a burning sensation in the chest. Spicy meals containing capsaicin can cause this acidity, which also slows your digestion and raises your chance of developing heartburn. Spicy food can also produce stomach or intestine irritation, which might result in a laxative effect. Acute gastritis can also cause nausea, vomiting, and a feeling of fullness in the upper abdomen. Hence, the ill effects of excess spice consumption are a potential factor that hampers the Spices and Seasoning market’s growth in terms of value sales.

 

Spices and Seasoning market segment analysis:

By type: Spices and Seasoning market is segmented salt and salt substitutes, pepper, herbs and spices. The salt and salt substitutes segment recorded the most elevated income share in 2012 and is relied upon to enlist consistent development by 2022, at a CAGR of 4.3% during the forecast period.

 

Spices are further segmented into pepper, chilli, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves and others and Herbs are segmented into rosemary, fennel, garlic, parsley, oregano, mint and others

 

In 2020, the ginger category held the greatest share of the global spice market, accounting for 37.7%. In Asia Pacific, most spices have the biggest market share. This is due to the antibacterial qualities of spices, which help to rid foods of pathogens and contribute to human health and reproductive success in hot temperatures. Spices and seasonings such as paprika, pepper, oregano, mint, and sesame have seen an increase in demand due to the fast-growing fast food business and rising desire for convenience foods. Due to the therapeutic benefits of turmeric and its widespread usage in Ayurvedic medicine, demand for turmeric has always been high and continues to rise, particularly in Asian countries.

 

By application: Spices and seasonings market are segmented into Meat & poultry products, Snacks & convenience food, Soups, sauces, and dressings, Bakery & confectionery, Frozen products, Beverages and others. Snacks and convenience food are the most important commodities in the spice and seasoning trade. The segment's growth is being fueled by the increased demand of savoury flavoured snacks. Spices and other additives such as salt, garlic powder, lemon, dehydrated vegetables, and other flavourings have been added to the services of blending companies. Since spices and seasonings are used to create a range of products, the bakery and confectionary market is expected to develop. During Easter, demand for spices like cinnamon, allspice, ginger, and nutmeg soared as many stayed at home due to COVID-19. The share of meat and poultry segment in 2021 was 13.59% while for snacks and convenience segment it was more than 30%.

 

 

 

By Distribution Channel: During COVID-19, since most of us are locked at our homes, there has been significant increase in the online purchase of spices and seasonings instead going to the nearby convenience store. Online distribution channel drastically boom in Spices and Seasoning market during the COVID -19 period.

 

Spices and Seasoning Market Regional Insights:

North America dominated the global Spices and Seasoning market in 2021, with a value of USD 7.48 billion. North America has been one of the major markets for spices and seasonings as new consuming habits change how consumers think about herbs. Because of the region's growing food processing industries, the Asia Pacific market is expected to rise significantly. The growing preference of young European consumers for exotic and robust culinary flavours, projected to see significant development in the market.

 

The objective of the report is to present a complete picture of global Spices and Seasoning market. Data from past years is compiled to anticipate the future prospects of this market. Porter's five forces help to identify where power lies in a business situation. This is useful both in understanding the strength of an organisation's current competitive position, and the strength of a position that an organisation may look to move into. The report helps in identifying competitive rivalry currently running in the spices and seasoning market. It also helps to understand bargaining power of suppliers and consumers.

 

The report also presents PESTLE analysis which helps to gain a macro picture of Spices and seasoning market.  Political factors helps to identify the influence of government over Spices and seasoning market. Economic factors a have direct impact on a company’s long-term prospects in a market. The economic environment may affect how a company dealing in spices and seasonings price their products or influence the supply and demand model. Social factors, such as demographics and culture can impact the Spices and Seasonings market by influencing peak buying periods, purchasing habits, and lifestyle choices. Technological factors may have a direct or an indirect influence on an industry. The legal and regulatory environment can affect the policies and procedures of an industry, and can control employment, safety and regulations. Environmental factors include all those relating to the physical environment and to general environmental protection requirements. 

 

Spices and Seasonings market scope:

 

Spices and Seasoning Market
Market Size in 2023	USD 24.79 Bn.
Market Size in 2030	USD 35.35 Bn.
CAGR (2024-2030)	5.2 %
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Salt and salt substitutes Pepper Herbs Rosemary Fennel Garlic Mint Parsley Oregano Others Spices Pepper Ginger Cinnamon Cumin Turmeric Cardamom Coriander Cloves Others
	By Application Meat & poultry products Snacks & convenience food Soups, sauces, and dressings Bakery & confectionery Frozen products Beverages Others
	By Distribution Channel Online Offline
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Spices and Seasoning Market Key Players:

• Olam International (Singapore)
• McCormick & CompanyInc. (US)
• Ajinomoto Co. Inc. (Japan)
• Associated British Foods plc (UK)
• Kerry Group plc (Ireland)
• Sensient Technologies Corporation (US)
• Döhler Group (Germany)
• SHS Group (Ireland)
• Worlée Gruppe (Germany)
• ARIAKE JAPAN CO, LTD.
• Baria Pepper
• DS Group
• Everest Spices
• Bart Ingredients