Global Spices and Seasonings in Meat and Poultry Market, By Product (Herbs, Salt & Salts Substitutes, Spices), Application (Bakery & Confectionery Products, Frozen Food, Soups, Sauces, & Dressings, Beverages, Others) – Industry Trends and Forecast to 2029.
Spices and Seasonings in Meat and Poultry Market Analysis and Size
Seasonings and spices are essential in all cuisines because they add a distinct aroma and flavour to each dish. Furthermore, people nowadays prefer to use spices that are less time-consuming and easier to use in the kitchen. As a result, convenience and ease are also viewed as market drivers in the spices and seasonings market.
Data Bridge Market Research analyses that the spices and seasonings in meat and poultry market was valued at USD 13.52 billion in 2021 and is expected to reach the value of USD 23.23 billion by 2029, at a CAGR of 7.00% during the forecast period of 2022-2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Spices and Seasonings in Meat and Poultry Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Herbs, Salt & Salts Substitutes, Spices), Application (Bakery & Confectionery Products, Frozen Food, Soups, Sauces, & Dressings, Beverages, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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McCormick & Company, Inc. (U.S.), Olam Group (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (U.K.), Kerry Group plc (Ireland), Sensient Technologies Corporation (U.S.), Döhler Group (Germany), SHS Group (U.K.), F.Z. Organic Food (Netherlands), Rhythm Superfoods, LLC. (U.S.), Cussons Australia Pty Ltd (Australia), Luke’s Organic (U.S.), Late July Snacks LLC (U.S.), General Mills Inc. (U.S.)
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Opportunities
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Market Definition
Spices are aromatic dry ingredients that are used to enhance flavour and nutritional value. Spices come in a variety of forms, including seeds, berries, fruits, roots, bark, shoots, and vegetable matter. Turmeric, for example, is used as an antiseptic and is used to colour or store foods.
Spices and Seasonings in Meat and Poultry Market Dynamics
Drivers
- Rising proliferation of ready to eat products globally
The expanding hospitality industry and the growing preference for ready-to-eat and ready-to-drink products are among the key factors driving market growth. Furthermore, consumers are increasingly willing to try new cuisines and flavour-packed dishes prepared with a variety of spices and seasonings. They are also used as natural preservatives to limit microbial activity and preserve the quality of meat and poultry products.
- Consumers growing spending on different cuisines and health benefits of spice and herbs
Furthermore, rising consumer health consciousness is acting as a significant growth driver. Spices and seasonings are high in antioxidants, and many of them are thought to have medicinal properties, so they are used to treat a variety of diseases and ailments. Turmeric, for example, is widely used to boost immunity against cancer, Alzheimer's disease, and joint inflammation. Furthermore, rising consumer preference for exotic cuisines and organic ingredients and rising consumer expenditure on food and beverages are expected to drive the market even further.
Opportunity
Products claiming to contain natural ingredients, such as spices, assist manufacturers in attracting more customers. The "health and wellness" trend drives the natural ingredients market as a whole. Consumers are turning to natural alternatives as the prevalence of lifestyle-related diseases such as cardiovascular disease, obesity, osteoporosis, and diabetes rises. Furthermore, the media's depiction of the negative effects of consuming synthetic ingredients has forewarned consumers. Consumers believe that natural ingredients have a positive impact on overall health, whereas synthetic ingredients have negative effects. As a result, food manufacturers responded quickly by completely or partially replacing synthetic ingredients with natural alternatives.
Restraints
However, adulteration of spices and seasonings will act as a restraint and may impede the growth of spices and seasonings in the meat and poultry markets during the aforementioned time period. However, spices and seasonings are susceptible to microbial contamination, which will pose a challenge to the growth of the spices and seasonings market in meat and poultry.
This spices and seasonings in meat and poultry market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the spices and seasonings in meat and poultry market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Spices and Seasonings in Meat and Poultry Market
With the onset of COVID-19, the market for spices and seasonings has seen a rapid increase, with some select spices that are meant to provide immunity, such as turmeric, ginger, and garlic, receiving tremendous responses from consumers worldwide. Initially, supply chain risk persisted in developed economies that are heavily reliant on imports from developing countries; however, as one of the most sought-after destinations for herbs, spices, and seasonings, as well as products with recognisable value and local demand, market entry is now less impacted by the same.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
During the COVID-19 pandemic, the tractor business experienced a sharp drop, with the dealership network being the most affected due to supply chain disruptions and manufacturing units that were not fully operational. Due to travel restrictions, production was delayed and supply was disrupted, resulting in a sharp decrease in tractor sales during 2019-2020.
Recent Development
- Olam food ingredients, the new operating group formed following the recognition within Olam International limited, expanded its spice portfolio in February 2021. Olam Americas Inc, a subsidiary of (OIL), paid USD 108.5 million for the acquisition of Mizkan America Inc, a US-based chile pepper business (CPB). CPB is well-known for the high quality of its New Mexico green chilli and other specialty chilli peppers.
- The Kerry group announced the completion of its acquisition of the Jining nature group in February 2021. The company is a Chinese manufacturer of flavours, seasonings, and prepared food products with a strong presence in the country.
Global Spices and Seasonings in Meat and Poultry Market Scope
The spices and seasonings in meat and poultry market is segmented on the basis of type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Herbs
- Salt & Salts Substitutes
- Spices
Application
- Bakery and Confectionery
- Frozen Food
- Snacks and Convenience Food
- Soups
- Sauces
- Dressings
- Beverages
- Others
Spices and Seasonings in Meat and Poultry Market Regional Analysis/Insights
The spices and seasonings in meat and poultry market is analysed and market size insights and trends are provided by country, type and application as referenced above.
The countries covered in the spices and seasonings in meat and poultry market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The spice and seasonings in meat and poultry market is led by North America, followed by Europe and Asia-Pacific. The demand for spices and seasonings in North America is expected to be high during the forecast period due to increased awareness of the nature and population of spice prevention. The Asia-Pacific region's demand for spices and seasonings has increased significantly over the years and is expected to grow at a rapid pace due to the region's expanding food and beverage industry.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Spices and Seasonings in Meat and Poultry Market Share Analysis
The spices and seasonings in meat and poultry market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to spices and seasonings in meat and poultry market.
Some of the major players operating in the spices and seasonings in meat and poultry market are:
- McCormick & Company, Inc. (U.S.)
- Olam Group (Singapore)
- Ajinomoto Co. Inc. (Japan)
- Associated British Foods plc (U.K.)
- Kerry Group plc (Ireland)
- Sensient Technologies Corporation (U.S.)
- Döhler Group (Germany)
- SHS Group (U.K.)
- F.Z. Organic Food (Netherlands)
- Rhythm Superfoods, LLC. (U.S.)
- Cussons Australia Pty Ltd (Australia)
- Luke’s Organic (U.S.)
- Late July Snacks LLC (U.S.)
- General Mills Inc. (U.S.)
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