The global spices
and seasonings market is foreseen to grow at 4.9%, from USD 128.7 Million in
2021 to USD 188.7 Million in 2029. Rapidly increasing urbanization and changing
lifestyles, increase in use of spices and seasonings as natural preservatives
in meat & poultry product, evolving consumer perception of spicy food
products are the factors driving the growth of the global spices and seasonings
market. However, adulteration of spices, adverse effects of excess spice
consumption has seen restraint in the market growth for the estimated period.
Market Definition
What is Spices and
seasonings?
Seasonings include the salts, oils and other items you
add to food when your goal is to enhance the flavor. Spices are plant-based
components that serve a similar purpose, and learning how much of each you
should add lets you create meals of which anyone would be proud.
Market Overview
The Spices and
seasonings market research study helps to thoroughly understand the current
trend in the market, competitive analysis of the players in the emerging
market. Moreover, the DRO in the Spices and seasonings market offers valuable
perspicuity and a current scenario for making the right decision. The research
study covers the eminent players in the market with a detailed analysis of the
company and a financial overview containing their net sales, business mix and
geographical reach. It mainly focuses on the key developments of the
products/services offered by the company in recent years. Besides, we at
Zettabyte have the expertise to analyse the global Spices and seasonings market
player's competitive landscape, helping the client comprehend their specific
strategic growth approaches.
Spices and
seasonings Market study by "Zettabyte Analytics" offers details about
the market scope, market segmentation, technological advancement in the Spices
and seasonings market and highlights the optimistic, competitive landscape and
trends enduring over the years.
Major players in
the spices and seasonings market include Ajinomoto Co., Inc, Ariake Japan Co.,
Ltd., Associated British Foods Plc, Döhler Group, Elite Spices, Everest Food
Products Pvt. Ltd, Friedrich Ingredients, Kerry Group Plc, Mccormick &
Company, Inc., Moguntia Food Group Ag, Olam International, Pacific Spice
Company, Paras Spices Private Limited.
COVID-19 Impact on Global Spices
and seasonings Market
The global impact
of COVID-19 has lost millions of lives with a massive cost to the healthcare
system. Moreover, the treatment cost for patients with COVID-19 has also had a
financial impact globally. The impact of COVID-19 on the Spices and seasonings
Market has forced the companies to change their sourcing, pricing, and
promotion strategies. The Spices and seasonings Market players are seen
focusing more on optimizing the E-commerce networks with the rising innovations
in the digital sector, which are creating new business models for the food and
bevergae industry players.
Research Scope
The report
provides market value for the base year 2021 and a yearly forecast from 2022 to
2029 in revenue (USD Million/ Billion). The market for each segment is present
in North America, Europe, Asia Pacific, Latin America, Middle East &
Africa, and the regional basis for the forecast mentioned above.
Key industry
dynamics, regulatory scenarios, major material dynamics and Spices and
seasonings' future markets are analyzed to understand their impact on demand
for the forecast period. Growth rates have been estimated using correlation,
regression and time-series analysis.
Market Segmentation
For the purpose
of this report, the global spices and seasonings market is segmented on the
basis of product type, application, and region:
Product Type
|
Salt and Salt Substitutes
|
Herbs
|
|
|
Basil
|
|
Oregano
|
|
Parsley
|
|
Thyme
|
|
Others
|
Spices
|
|
|
Cardamom
|
|
Cinnamon
|
|
Clove
|
|
Nutmeg
|
|
Pepper
|
|
Others
|
|
|
Application
|
Bakery & Confectionery
|
Beverages
|
Frozen Products
|
Meat & Poultry Products
|
Snacks & Convenience Food
|
Soups, Sauces and Dressings
|
Others
|
Product Type Outlook:
On the basis of
product type, the market is segmented into salt and salt substitutes, herbs,
spices.
Figure 1 - Spices and seasonings Market, By Product
Type (Market Size And Forecast By Value - USD Million, 2021 & 2029)