The
global seasonings and spices market size is expected to
reach USD 20.46 billion by 2025, according to a new report by Grand View
Research, Inc., expanding at a CAGR of 3.9% during the forecast period.
Changing taste preferences of consumers, along with rising disposable income,
and presence of a large number of international as well as local players across
the industry value chain are among the key trends escalating market growth.
The
demand for herbs and spices is estimated to rise at a healthy growth rate,
whereas the demand for salt & salt substitutes is anticipated to remain
nominal on account of declining consumption globally. Increasing demand for
authentic cuisines on a global level is one of the primary factors bolstering
the usage of spices & herbs in sauces & dressings. Changing consumer
preferences related to flavor in foods & snacks is projected to prompt
manufacturers to manufacture products that are appealing, high-quality, and
reliable, thereby maintaining consistent standards globally.
Implementation
of modern cultivation to facilitate the growth of specific herbs in different
regions is poised to magnify the production scenario over the forecast period.
Increasing demand for Chinese herbs globally, on account of continuous
penetration of Chinese medicine into pharmaceuticals and supplements, is likely
to positively influence the growth of the market. On the other hand, the demand
for herbal supplements is anticipated to seek moderate growth as consumers are
placing their confidence and disposable incomes in nutritional & other
health supplements to maintain health and reduce the cost of health care in the
future.
Ready-to-use
spice mixes are becoming increasingly popular among consumers as they save time
and effort and provide consistency in taste in culinary preparation. The hectic
lifestyles of consumers, growing demand for convenience in food preparation,
and increasing disposable incomes are leading to increase in demand for
ready-to-use spice mixes. Seasoning and spice companies are also starting new
advertising campaigns to encourage consumers to try recipes at home.
Companies
such as McCormick and Kerry have also started campaigns on social media such as
Facebook, Pinterest, and Twitter to help establish their brands' identities.
Increasing medicinal benefits and changing consumer taste and preferences will
continue driving the market.
For full research report on Seasoning
And Spices Market visit here: https://www.grandviewresearch.com/industry-analysis/seasonings-spices-market
Further key
findings from the report suggest:
- The global demand
for herbs is expected to reach USD 6.75 billion by 2025, rising at a CAGR
of 3.9% during the forecast period.
- Among applications,
soups, sauces & dressings were valued over USD 3.7 billion in 2017.
They are likely to post a CAGR of 4.0% during the forecast period
- Central & South
America is projected to witness a CAGR of 3.3% during the same period
owing to growing middle class population, which is poised to fuel the
demand for improved quality of food
- Countries in Asia
Pacific such as India and China are anticipated to observe remarkable
growth over the forecast years, progressing at a CAGR of 5.3%, owning to
presence of various large scale raw material sources
- The market is
partially consolidated and competitive in nature, with presence of several
global multinational players
- Some of the key
companies present in the market are Ajinomoto Co, Inc.; Associated British
Foods Plc; Baria Pepper; McCormick & Company, Inc.; Everest Spices;
MDH; and Kerry
Group
Get request sample of this report here: https://www.grandviewresearch.com/industry-analysis/seasonings-spices-market/request/rs1
Grand
View Research has segmented the global seasoning and spices market on the basis
of product, application, and region:
Seasoning and
Spices Product Outlook (Revenue, USD Billion, 2014 - 2025)
- Herbs
- Rosemary
- Fennel
- Garlic
- Mint
- Parsley
- Oregano
- Others
- Salt & Salt
substitutes
- Spices
- Pepper
- Ginger
- Cinnamon
- Cumin
- Turmeric
- Cardamom
- Coriander
- Cloves
- Others
Seasoning and
Spices Application Outlook (Volume, Kilo Tons; Revenue, USD Billion,
2014 - 2025)
- Bakery &
Confectionary Products
- Meat & Poultry
Products
- Frozen Food
- Soups, Sauces
&Dressings
- Beverages
- Others
Seasoning and
Spices Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- France
- Asia Pacific
- China
- India
- Central & South
America
- Brazil
- Middle east &
Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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