Seasonings and Spices Market By Product Type (Salt Substitutes, Dried Herbs, Salt, Individual and Mixed Spices, Pepper, and Others), and By Application (Bakery and Confectionery, Frozen Products, Sauces and Dressings, Convenience Food and Snacks, Meat and Poultry Products, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024

Global seasonings and spices market expected to reach approximately USD 20.99 billion by 2024, growing at a CAGR of around 5.0% between 2018 and 2024. Seasonings and spices are available in various types such as; pepper, turmeric, cinnamon, cumin, pepper, cloves, salt, ginger, oregano, parsley, basil, and coriander.

23-Oct-2018 | Number of pages: 110 | Report Code: ZMR-474 | Report Format : | Status : Published

Analysis

Spices are root, seeds, flowers, leaves, bark, stems, and fruit which is mainly used for flavoring, coloring, and preservation of food. Seasonings and spices are also used for garnishing the food. These seasonings and spices are also available in the form of powder sometimes. Moreover, seasoning is a process of addition of herbs and salt in food. Seasoning and spices are generally used to enhance the overall taste of the food. They also help in enhancing the aroma of the food. At present, Western countries are primarily influenced by seasoning and spices as it is used in the snacks to improve taste. 

The global seasonings and spices market is primarily driven by rising preference for exotic food across the worldwide. At present, people are more likely to spend on seasonings and spices. In addition to this, high penetration of the native seasoning and spices are contributing towards the global seasonings and spices market growth over the forecast period. For instance, Southern Europe and Mexico are famous for some special spices such as Anaheim and Marjoram pepper. Furthermore, changing eating habits for Thai, Italian, and French food witnessed in the developing countries are expected to spur the global seasonings and spices market size during the forecast period. However, trade regulations on product import and inefficient logistics are predicted to act as major restraints for the global seasonings and spice market within the forecast period. 

Global Seasonings and Spices Market

The global seasonings and spice market have been segmented into product type, application, and region. Based on the product type, the global market has been classified into dried herbs, salt substitutes, salt, individual and mixed spices, pepper, and others. Among them,  salt substitutes are expected to hold a dominant position in the global seasonings and spices market over the forecast period. 

Based on the application, the global seasonings and spices market is segmented into frozen products, sauces and dressings, convenience food and snacks, meat and poultry products, bakery and confectionery, and others. Among them, convenience food and snacks are expected to attain the largest market share within the forecast period. Altering eating habits among the global population and inclination towards more spicy food leading to the addition of seasoning and spices in food products are some of the major driving factors for the global seasonings and spice market.

By geography, the global seasonings and spices market finds its extensive scope in Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The Asia Pacific is forecasted to be the fastest growing region in the global seasonings and spices market during the estimated timeline. This growth can be attributed to the high consumption of seasonings and spices in the South Asian region. Followed by Asia Pacific, Europe, and North America are also projected to gain more market share during the forecast period. 

The report also includes detailed profiles of key players such as The Kraft Heinz Company, McCormick & Company, Catch, Baria Pepper, MDH Spices, Knorr, Everest Spices, Ajinomoto Co. Inc., Nestle, and Bart Ingredients. The detailed description of players includes parameters such as company overview, financial overview, business strategies, and recent developments of the company.


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