Yahoo Finance The Worldwide Seasoning & Spices Industry is Expected to Reach $50.1 Billion by 2028
Global Seasoning & Spices Market
Dublin, July 01, 2022 (GLOBE NEWSWIRE) -- The "Global Seasoning & Spices Market Size, Share & Industry Trends Analysis Report By Product, By Spices Type, By Herbs Type, By Form, By Distribution Channel, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Seasoning & Spices Market size is expected to reach $50.1 billion by 2028, rising at a market growth of 5.5% CAGR during the forecast period.
Spices and seasonings are mostly consumed by the packaged food industry. To give each cuisine a particular scent and flavor, herbs and species-specific seasonings are required. These ingredients enhance the flavor of the items while also extending their shelf life. Herbs and spices used for flavoring include garlic, basil, cloves, cardamom, cumin, and ginger. Since the beginning of time, the seasoning has been utilized in cuisine.
Herbs are mainly dried or fresh leaves of plants growing in a specific climate, whereas spices are made from stems, fruits, roots, bark, and seeds. Seasoning enhances food flavor while also offering health benefits. In medical research, turmeric, pepper, cinnamon, basil, and ginger have all been shown to help with conditions like diabetes, infections, brain function, high blood pressure, and cancer. Because of these benefits, seasoning is frequently utilized in food and nutrition. Homemade seasoning is also gaining popularity due to its healing effects.
Changes in people's eating habits, particularly in developing countries, are impacted by rising income, urbanization, and rapid economic development, according to the United Nations' Food and Agriculture Organization (FAO). Exotic culinary preparations, as well as an increased interest in traditional dishes for daily consumption, are expected to positively influence the industry. Furthermore, the availability of seasonings and spices in hypermarkets and supermarkets in urban and semi-urban areas is expected to enhance the seasonings and spices market over the assessment period.
Thai, Indian, Chinese and Vietnamese cuisines use a range of spices and herbs to give their food a distinct flavor and taste. In the United States, many people are growing more interested in cooking at home. As a result, sales of spices like pepper and ginger have increased significantly. The seasoning and spices market have been propelled by a range of projects and initiatives intended to encourage people in the country to cook more food at home to relieve stress.
COVID-19 Impact Analysis
The COVID-19 pandemic had a substantial impact on the seasoning and spice supply chain. The industry's supply chain has been interrupted by government limitations, transportation issues, labor shortages, supplier scarcities, infrastructure outages, and import delays. Due to issues such as weather, water scarcity, and other causes, spice and herb production is experiencing unprecedented unpredictability. Furthermore, the implementation of shutdowns and lockdowns in spice-producing countries such as China, India, and Vietnam had an influence on raw material supply and utilization in the foodservice business.
Market Growth Factors:
Demand for health and wellness products is increasing
With consumers growing more health-conscious, specific spices and herbs are replacing sugar, salt, and artificial additives. The three main causes boosting demand for spices and herbs are natural flavoring, organic foods, and safe dietary supplements. Spices, for example, are natural components that help firms attract more customers. The entire natural ingredients market is driven by the "health and wellness" trend.
In reaction to increased rates of lifestyle-related conditions such as cardiovascular disease, overweight, fractures, and diabetes, consumers turn to natural alternatives. Furthermore, the media's portrayal of the negative consequences of consuming synthetic substances has raised consumer awareness.
Increased Food Industry Demand for Spice Blends
Blended spices have seen a surge in popularity among many segments of the people in the region, as they are useful in a variety of applications, including savory snacks and ready meals, among others. Furthermore, spice blends from North American countries have rich flavor levels. Recently, there has been a lot of interest in blends combining the Middle Eastern Mediterranean spice in North American foods, such as a mix of turmeric, coriander, and warm brown spices.
Greater mainstream acceptance of spices such as harissa from North Africa and berbere from Ethiopia has prepared the way for an increase in demand for spice blends. It's a mix of ground peanuts and spices like ginger, cayenne, garlic, and onion that's been increasingly popular among Americans in recent years.
Marketing Restraining Factor:
Spice product growing intellectual property theft
Spice adulteration is mostly due to a supply shortage and rising demand for exotic herbs and spices. Since the international spice trade has developed considerably, spices have become more susceptible to adulteration, whether intentional or inadvertent. The goal maximize profit margins frequently drives deliberate adulteration.
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Seasoning & Spices Market
Chapter 4. Global Seasoning & Spices Market by Product
4.1 Global Spices Market by Region
4.2 Global Seasoning & Spices Market by Spices Type
4.2.1 Global Turmeric Market by Region
4.2.2 Global Pepper Market by Region
4.2.3 Global Cinnamon Market by Region
4.2.4 Global Cardamom Market by Region
4.2.5 Global Coriander Market by Region
4.2.6 Global Cloves Market by Region
4.2.7 Global Cumin Market by Region
4.2.8 Global Ginger Market by Region
4.2.9 Global Other Spices Type Market by Region
4.3 Global Herbs Market by Region
4.4 Global Seasoning & Spices Market by Herbs Type
4.4.1 Global Garlic Market by Region
4.4.2 Global Mint Market by Region
4.4.3 Global Oregano Market by Region
4.4.4 Global Parsley Market by Region
4.4.5 Global Fennel Market by Region
4.4.6 Global Rosemary Market by Region
4.4.7 Global Others Market by Region
4.5 Global Salt & Salt Substitutes Market by Region
Chapter 5. Global Seasoning & Spices Market by Form
5.1 Global Powder & Crushed Market by Region
5.2 Global Whole Market by Region
Chapter 6. Global Seasoning & Spices Market by Distribution Channel
6.1 Global Foodservice Market by Region
6.2 Global Retail Market by Region
Chapter 7. Global Seasoning & Spices Market by Region
Chapter 8. Company Profiles
8.1 Ajinomoto Co., Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental Analysis
8.1.4 Research & Development Expenses
8.2 Associated British Foods PLC (Wittington Investments Limited)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expense
8.3 Kerry Group PLC
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expense
8.3.5 Recent strategies and developments:
8.3.5.1 Acquisition and Mergers:
8.4 McCormick & Company, Inc.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Acquisition and Mergers:
8.5 Dohler Gmbh
8.5.1 Company Overview
8.6 Ariake Japan Co., Ltd.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional Analysis
8.6.4 Research & Development Expenses
8.7 Baria Group
8.7.1 Company Overview
8.8 DS Group
8.8.1 Company Overview
8.9 Everest Food Products Pvt Ltd.
8.9.1 Company Overview
8.10. Bart Ingredients (Fuchs GmbH & Co. KG)
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Product Launches and Product Expansions:
For more information about this report visit https://www.researchandmarkets.com/r/v8geez
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