Global Spices and Seasonings Market – Industry Trends and Forecast to 2030

Global Spices and Seasonings Market, By Type (Pepper, Chili, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg and Mace, Cardamom, Cloves, Capsicum, Coriander, and Others), Application (Meat and Poultry, Bakery and Confectionery, Frozen Food, Snacks and Convenience Food, Soups, Sauces, and Dressings, Beverages and Others) - Industry Trends and Forecast to 2030.

Spices and Seasonings market Analysis and Size

Seasonings and spices are essential in all cuisines because they add a distinct aroma and flavour to each dish. The seasonings and spices market is one of those that is recession resistant in the long run. Spices and Seasonings are the ingredients used to give food and beverage products aroma, flavor, preservation, and color. These products are derived from various plant parts, including flowers, barks, fruits, buds, seeds, leaves, roots, and plant tops. Spices are used in various foods and beverages, including healthy raw materials such as turmeric and pepper. The global demand for such healthy spices indicates the market's growth.

Data Bridge Market Research analyses that the global spices and seasonings market was valued at USD 22.14 billion in 2022, and is expected to reach the value of USD 35.97 billion by 2030, at a CAGR of 6.84% during the forecast period of 2023-2030. “Ginger” is expected to dominate the market due to its health benefits. 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 Market Scope and Segmentation

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 instance, is used as an antiseptic and is used to colour or store foods. Spices, derived from dried seeds, roots, bark, or fruits of plants, infuse dishes with diverse and distinctive flavors. Herbs, originating from leaves, stems, or flowers of select plants, add freshness and fragrance to culinary creations. Seasoning blends offer convenient pre-mixed combinations of spices and herbs for specific culinary styles. Extracts and flavorings provide concentrated taste enhancements, while condiments like ketchup and hot sauces contribute unique flavors and textures to meals. Specialty seasonings cater to regional or ethnic tastes, and marinades tenderize and infuse meats and vegetables with flavor.

Global Spices and Seasonings Market Dynamics

Drivers

• Consumers Desires to Try Exotic Cuisines and the Expansion of Hospitality Industry

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.

• Health Benefits Associated with Spices and Seasonings and Growing Trend of Consuming Organic Products

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 instance, 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

• Rising Health and Wellness Trends  

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 lifestyle-related diseases such as cardiovascular disease, obesity, osteoporosis, and diabetes rise. Furthermore, the media's depiction of the negative effects of consuming synthetic ingredients has forewarned consumers. Consumers believe that natural ingredients positively impact 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.

Restraint/Challenges

• High Prices of Spices

The high price of spices presents a significant restraint within the context of manufacturers' adoption of natural ingredients. While the health and wellness trend encourages the use of these natural elements, the cost associated with many spices can be prohibitive for both manufacturers and consumers. This expense often limits the accessibility and affordability of products containing such ingredients, potentially excluding a portion of the market and challenging the widespread adoption of these healthier alternatives.

This global spices and seasonings 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 global spices and seasonings 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.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

 Recent Development

• In January 2022, Kerry will officially open a new 21,500 square foot state-of-the-art facility at its Jeddah operation in the kingdom of Saudi Arabia
• In February 2021, Olam food ingredients, the new operating group formed following the recognition within Olam International limited, expanded its spice portfolio. 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
• In February 2021, The Kerry group announced the completion of its acquisition of the Jining nature group. The company is a Chinese manufacturer of flavors, seasonings, and prepared food products with a strong presence in the country

Global Spices and Seasonings Market Scope

The global spices and seasonings 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

• Pepper
• Chili
• Ginger
• Cinnamon
• Cumin
• Turmeric
• Nutmeg and Mace
• Cardamom
• Cloves
• Capsicum
• Coriander
• Others

Application

• Meat and Poultry
• Bakery and Confectionery
• Frozen Food
• Snacks and Convenience Food
• Soups
• Sauces
• Dressings
• Beverages
• Others

Global Spices and Seasonings Market Regional Analysis/Insights

The global spices and seasonings market is analysed and market size insights and trends are provided by country, type and application as referenced above.

The countries covered in the global spices and seasonings market report are U.S., Canada and Mexico, 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

North America dominates and is fastest growing region in the global spice and seasonings market. The demand for spices and seasonings in North America is expected to be high during the forecast period of 2023 to 2030, due to increased awareness of the nature and population of spice prevention.

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 Global Spices and Seasonings Market Share Analysis

The global spices and seasonings 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 global spices and seasonings market.

Some of the major players operating in the global spices and seasonings market are:

• McCormick & Company, Inc. (U.S.)
• Olam International (Singapore)
• Ajinomoto Co. Inc. (Japan)
• Associated British Foods plc (U.K.)
• Kerry (Ireland)
• Sensient Technologies Corporation (U.S.)
• Döhler Group (Germany)
• SHS Group (Ireland)
• Worlée Gruppe (Germany)
• 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.)