Global Seasonings And Spices Market Set For Rapid Growth, To Reach USD 20.99 Billion By 2024

23-Oct-2018 | Zion Market Research

Zion Market Research has published a new report titled “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”. According to the report, the global seasonings and spices market was valued at around USD 15.11 billion in 2017 and is 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. Moreover, spices are root, flowers, fruit, bark, stem, seeds, and leaves which are essentially used for flavoring, coloring, and preservation of food. The seasonings and spices are used to garnish the food and they are also used for improving the aroma, texture, and taste of the food. Owing to their benefits in the food the global seasonings and spices market is expected to augment in the forecast period. 

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Global Seasonings and Spices Market

As of now, increasing demographic population, net capital income, and growing food & industry will have a positive influence on the seasonings and spices market over the forecast period. Over the last few years, the consumption of fast food and snacks has increased the demand for seasonings and spice which is expected to eventually drive the global seasonings and spices market during the forecast period. The rising consumer awareness about the medicinal properties of a number of spices including turmeric, cloves, and cinnamon used for various fungal and bacterial infections will further drive the market growth in the near future. Antibiotic property of spices is likely to increase its demand during the forecast period. To tap into emerging markets, manufacturers are continually introducing new product portfolio, thereby driving seasonings and spices market revenue. For instance, in April 2017, McCormick introduced new product portfolio with spices, core herbs, and homemade dessert and expanded its business in France. 

Based on the product type, the global market is segmented into individual and mixed spices, salt substitutes, salt, pepper, dried herbs, and others. Among these, salt substitutes are projected to contribute significantly towards global seasonings and spice market size over the forecast period. 

Based on the application, the global market is divided into bakery and confectionery, frozen products, convenience food and snacks, sauces and dressings, meat and poultry products, and others. Among these, convenience food and snacks are estimated to attain the largest market share during the forecast period. The rising preference for spicy and seasoned foods will contribute substantially towards the global seasonings and spices market growth.

By geography, the global seasonings and spices market finds extensive scope in North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. The Asia Pacific is foreseen to be the rapidly expanding region in the global seasonings and spices market during the projected period. This is mainly due to the high consumption and production of seasonings and spices in South Asia. Followed by Asia Pacific, Europe, and North America are also projected to contribute notably towards the market share during the forecast period. 

The report also includes detailed profiles of key players such as The Kraft Heinz Company, McCormick & Company, Catch, Ajinomoto Co. Inc., Baria Pepper, MDH Spices, Knorr, Everest Spices, 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. 

This report segments the global seasonings and spices market as follows:

Global Seasonings and Spices Market: Product Type Segment Analysis

  • Salt Substitutes 
  • Dried Herbs
  • Salt
  • Individual and Mixed Spices
  • Pepper
  • Others 

Global Seasonings and Spices Market: Application Segment Analysis

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

Global Seasonings and Spices Market: Regional Segment Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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