Spices and Seasonings Market Growth – Trends & Forecast on Agricultural and Food Industry

Spices And Seasonings Market Size & Share

Global spices and seasonings market size was valued at USD 21.3 billion in 2021 and is poised to grow USD 27.4 billion by 2026, growing at a CAGR of 5.2% in the forecast period (2021-2026). The new research study comprises an examination of industry trends in the market. It encompasses a comprehensive analysis of market buying patterns, pricing trends, patent evaluations, conference and webinar materials, and key stakeholders.

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Rapidly growing fast-food industry and increasing demand for convenience food propagating the demand

The changing perception of people about processed foods and the technological innovations in spice and seasoning processing techniques have led to an increase in demand for processed products and subsequently to the growth of the spices & seasonings market. Cinnamon is used to flavor a variety of foods, from confections to curries to beverages, and is popular in bakery goods in many places. Cinnamon also contains large amounts of polyphenol antioxidants. The antioxidants in cinnamon have been found to have anti-inflammatory effects; also, consumption of cinnamon is associated with a short-term reduction in blood pressure. All these benefits have significantly increased the consumption of cinnamon across the world.

Meat & Poultry products account for the most share in the global spices & seasonings market

The meat & poultry products segment accounted for the largest value during the forecast period, probably because spices stimulate the appetite, add flavor, and acts as natural preservatives for meat and poultry products. Different spices and seasonings such as pepper, cinnamon, cardamom, cumin, turmeric, and capsicum are applied to meatloaves, sausages, salamis, and other processed meat & poultry food products. Both fresh and frozen meats can be spiced and marinated before storage. All these factors have resulted in the high use of spices in the preparation of meat products. Hence, resulting in a high market share. Commercial meat processing plants use spice extracts in place of natural spices. Seasonings and spices used for sausage making are usually fresh as most consumers prefer the taste of freshly made food that often comes from spices. Spices such as garlic, pepper, and chili play a crucial role in the antioxidant and natural preservatives in fermented meat products.

Organic spices are preferred as the demand for natural inputs increases

Organic spices are wholesome, non-GMO, and free of insecticides and pesticides. Organics spices are artificially enhanced to be visually appealing. Since organic species are grown without any usage of harmful chemicals to maintain the plant’s phytonutrients properly, the original flavor of spices is preserved. Also, with changing trends in food and a growing interest in the beneficial natural properties of food, consumers take comfort in knowing that their food comes from farms that engage in natural farming practices. For this reason and more, earning the right to use an organic label adds value to brands because it indicates a high-quality product. In the developed regions, such as Europe, the popularity of organic spices is increasing as they are made of natural ingredients and are free from pesticides.

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Asia Pacific dominates the market valued at USD 27.4 billion by 2026

The usage of spices and seasonings in the industrial sector is less in the Asia Pacific region as compared to that in developed regions, which presents food processing industries with considerable untapped potential. The overall economic growth in the Asia Pacific region has led to an increase in urbanization and rapid industrialization, with a resultant rise in per capita income. These factors play a major role in the changing preference of consumers towards value-added food products. The region’s improved agricultural growth over the past decade, followed by advancements in the food industry, has provided new opportunities for the spices & seasonings industry. This region has a much-diversified flavor preference wherein consumers are constantly looking for new variants, which will drive the spices & seasonings market. India’s spices & seasonings industry has witnessed increasing varieties of value-added spice & seasoning products in the ground, crushed, cracked blended, and dehydrated forms, in bulk and consumer packs.

This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the spices and seasonings market. It consists of the profiles of leading companies such as the major spices and seasonings manufacturers include McCormick & Company, Inc. (US), Olam International (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (UK), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Döhler Group (Germany), SHS Group (Ireland), and Worlée Gruppe (Germany). These players have focused on acquisitions to gain a larger market share in the spices & seasonings market.

The global spices and seasonings market size was accounted at USD 21.3 billion in 2021 and it is projected to surpass around USD 27.4 billion by 2026, growing at a registered CAGR of 5.2% from 2021 to 2026. Globally, the spices & seasonings market is driven by the growing demand for convenience food products, clean label trends, and natural preservatives for the meat industry. However, the growing incidences of adulteration and contamination in the spices exported from developing countries such as India and China are prompting regulatory bodies in Europe and America to strengthen the safety regulations on imported spices and seasonings.

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Market Overview of Spices and Seasonings Market

The Spices and Seasonings Market is a thriving industry driven by the growing demand for flavor-enhancing ingredients in culinary practices. As consumers seek diverse and exotic taste experiences, the market offers a wide range of spices and seasonings, including traditional favorites and innovative blends. Factors such as globalization, changing food preferences, and the increasing popularity of ethnic cuisines contribute to the market’s expansion. Additionally, the market is witnessing advancements in product offerings, packaging, and distribution channels to cater to the evolving needs of consumers. With a promising outlook, the Spices and Seasonings Market continues to evolve, offering abundant opportunities for both established players and new entrants.

Spices and Seasonings Market Drivers and Opportunities

Clean Label: A clear trend across global food market

Increasing consumption of healthy food products among modern consumers has led to increasing interest in the origin of the ingredients used to produce these products. Consumers prefer natural and clean-label flavors and ingredients as they are constantly looking for ‘natural’ nutrition and are opting for products that incorporate inherently natural, fresh, wholesome, and balanced nutrition. They largely perceive “clean label” as having a natural flavor and natural color.

The growing trend toward clean-label products, which is slowly becoming a requisite across the globe, is offering growth opportunities to the food manufacturers to create new formulations and new products to cater to the rising consumer demand for healthier food products. One example of manufacturers introducing natural ingredients is “Verdad Powder F80”, a product launched by Corbion Purac (Netherlands) in 2013. This product is permitted to be labeled as ‘fermented sugar’ to meet consumer demand for natural, fresh, and authentic-tasting products.

The food industry faces the challenge of finding natural ingredients, which will maintain food quality and integrity without compromising the shelf life, taste, and texture of the food products. Furthermore, natural ingredients are costlier when compared to artificial flavors.

Thus, the rising consumer demand for natural food ingredients is anticipated to increase the demand of spices and seasonings market soon.

Encapsulation of spices witness higher sales growth rate

Encapsulation of food products and ingredients has been on the rise over the past couple of years. The advancement of encapsulation has led to its application in almost every sector of the food & beverage industry. A similar kind of application pattern has also been witnessed in the spices and seasonings market. Some of the key manufacturers in the flavor and fragrance industry have been availing the spices variants in encapsulated formats. The UK-based company, Taste Tech has developed a new method for processing paprika and turmeric spices. The method is controlled-release encapsulation, whereby the oleoresins and essential oils of spices are extracted and encapsulated within invisible microfilm of hardened vegetable oil, resulting in a free-flowing, easy-to-handle powder. The company claims the flavor is enhanced, as is the coloring effect when compared with original and untreated spices. Thus, higher application of food encapsulation paves the way for the spices and seasoning market to grow significantly in terms of value sales during the forecast period.

Key Segments and Sub-segments in Spices and Seasonings Market

The Spices and Seasonings Market is witnessing significant growth in several segments due to changing consumer preferences and culinary trends. Here are some of the growing segments in the market:

Organic Spices: With the increasing emphasis on healthy and natural ingredients, organic spices are gaining popularity. Consumers are seeking pesticide-free and sustainably sourced spices, driving the demand for organic options.
Exotic and Ethnic Spices: As consumers explore diverse global cuisines, the demand for exotic and ethnic spices is on the rise. Spices like turmeric, cardamom, cumin, and cinnamon from different regions are gaining traction.
Blended Seasonings: Pre-packaged blended seasonings offer convenience and a balanced flavor profile. These blends combine multiple spices and herbs, catering to consumers who prefer ready-to-use options.
Gourmet and Artisanal Spices: The demand for high-quality, premium spices is growing among culinary enthusiasts. Gourmet and artisanal spices, often sourced from specific regions and known for their unique characteristics, are experiencing increased demand.
Health-focused Spices: Spices known for their health benefits, such as turmeric with its anti-inflammatory properties or cinnamon for its potential blood sugar regulation, are gaining popularity as consumers prioritize functional foods.

Spices and Seasonings Market Regional Insights

The Spices and Seasonings Market exhibits regional variations in terms of consumption patterns, preferences, and production. Here are some key regional insights:

North America: The North American market is characterized by a diverse culinary landscape and a growing demand for global flavors. Spices and seasonings from different cuisines, including Latin American, Asian, and Middle Eastern, have gained popularity. Increasing health consciousness and preference for natural and organic ingredients are driving the demand for high-quality and responsibly sourced spices.
Europe: Europe has a rich culinary heritage, with a wide range of traditional spices and seasonings. The market is witnessing a growing demand for premium and gourmet spices, as consumers seek unique and authentic flavors. European consumers also show a preference for organic and sustainable products. The region is also a significant importer of spices from various countries.
Asia Pacific: The Asia Pacific region has a strong influence on the global spices and seasonings market. It is home to several key spice-producing countries such as India, China, and Vietnam. The demand for spices and seasonings is high in this region due to the diverse culinary traditions and the preference for flavorful and aromatic ingredients. Additionally, the growing urban population, changing lifestyles, and the rise of international cuisines contribute to market growth.
Latin America: Latin American cuisine is known for its vibrant and bold flavors, which rely heavily on a variety of spices and seasonings. Traditional spices like chili peppers, cumin, oregano, and paprika are widely used in the region. As Latin American cuisines gain popularity worldwide, the demand for Latin American spices and seasonings is increasing, both domestically and in international markets.
Middle East and Africa: The Middle East and Africa have a rich history of spice trade and consumption. Spices like cinnamon, cardamom, turmeric, and cloves are extensively used in Middle Eastern and African cuisines. The region’s diverse culinary traditions, including Moroccan, Lebanese, and Ethiopian, contribute to the demand for a wide range of spices and seasonings.

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FAQs of Spices and Seasonings Market

What is the current size of spices and seasonings market?

The global spices and seasonings market is estimated to be valued at USD 21.3 billion in 2021. It is projected to reach USD 27.4 billion by 2026, recording a CAGR of 5.2% during the forecast period.

What is the estimated growth rate (CAGR) of the global spices and seasonings market for the next five years?

The global spices and seasonings market is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2026.

What are the major revenue pockets in the spices and seasonings market currently?

The Asia Pacific region is projected to be the fastest-growing market for spices & seasonings, at a CAGR of 4.4% from 2021 to 2026. The usage of spices and seasonings in the industrial sector is less in the Asia Pacific region as compared to that in developed regions, which presents food processing industries with considerable untapped potential.

Who are the key players in the spices and seasonings market?

The key players in this market include MOGUNTIA FOOD GROUP AG (Germany), Associated British Food plc (UK), Olam International (Singapore), McCormick & Company (US), and Ajinomoto Co., Inc (Japan), Paras Spices Private Limited (India), Worlée Gruppe (Germany), etc.