Rising Preference for Varied Flavors to Boost the Global Spices and Seasonings Market

Spices and Seasonings
  • Spices and Seasonings Market

The Global Spices and Seasonings Market size is expected to grow fromUSD 20.9 Billion in 2021 toUSD 43.0 Billionby 2028 at aCompound Annual Growth Rate (CAGR) of12.8%. Our extensive report provides insights on segments of the Global Market i.e., Product, Salts Substitutes, Application, Distribution Channels, and Region.

Spice is an aromatic substance derived from the root, bark, seed, leaves, or fruit of a plant, and it's meant to enhance the flavor of food. A seasoning is any combination of salts, sugars, and spices used for an identical purpose usually on top of cooked meals. The use of Spices and Seasonings varies from region to region based on culture. The major drivers of the market are economic development, income growth, and urbanization at the regional and global levels.

Due to the COVID-19 pandemic outbreak, the Spices and Seasonings Market resulted in a slow down due to various factors such as economic, political, and social changes which resulted in the disruption of the global spice trade network. Another restraint which is faced by the Spices and Seasonings Market is adulteration and food fraud where the low-quality products are sold under name of the branded products at high prices. The challenge faced by the Spices and Seasonings Market at the global level is a lack of standardized regulatory guidelines and increasing incidences seen of microbial contaminations in spices and seasonings imported from developing countries.

The opportunities seen in the market of Spices and Seasonings are the rising health and wellness consciousness among people globally, especially post-pandemic. Also, Spices and Seasonings and herbs are healthy alternatives to refined sugar, salt, and artificial additives. Another opportunity for the Spices and Seasonings Market is digitalization. Now people can easily explore international cuisine at their home and get international Spices and Seasonings at home.

Spices and Seasonings Markethas been studied in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.Asia Pacific is the largest region of the Spices and Seasonings Market for the past few years and it is predicted to keep increasing during the forecast period. Asia Pacific region owns 41.3% of the global market owing to the presence of evolving economies that provide a large base of consumers. While Europe is expected to grow at the fastest rate during the forecast period.

Some of the prominent players operating in the Global Spices and Seasonings Market include Ajinomoto Co Inc., Ariake Japan Co. Ltd., Associated British Foods PLC, Kerry Group, McCormick & Company Inc., Baria Pepper, Dohler Group, DS Group, Everest Spices, Bart Ingredients and others.