The global organic spices market size is expected to reach USD 22.98 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.0% during the forecast period. Rising preference for chemical free and healthy products is anticipated to drive the growth.High demand for traditional, exotic, and ethnic food flavors is expected to drive the growth. Moreover, introduction of authentic spices by the top brands is expected to positively influence the global demand.
In
addition, high demand for durable, easy-to-make, and convenience foods is
expected to fuel the adoption of products such as powdered organic spices. Asia
Pacific and North America ar anticipated to register high demand for powdered
spices, on account of continuous product innovation to cater to the changing
consumer preference. In addition, adaptation of traditional spices is also
expected to escalate the demand for organic spices in developed countries
including, U.S., Canada, U.K. and Germany among others. Moreover, innovation of
new organic spices with high nutritional value and health benefits is projected
to drive the demand for organic spices. For instance, in 2017, ITC launched a
range of specialty spices under its Master Chef brand.
Organic
spices including, turmeric, ginger, clove, and cinnamon also have various
health benefits. The antioxidant properties of turmeric and ginger, help fight
Alzheimer’s, cancer, and several viral diseases. The anti-bacterial properties
of clove and cinnamon help cure viral diseases and sore throat. These health benefits
of various spices are anticipated to drive the demand for organic spices in
near future. Leading companies operating in the organic spice market focus on
new product launches to cater to the rising demand. For instance, in October
2017, Sensient Natural Ingredients LLC launched a new range of organic
botanical spices including pink pepper, saffron, and cardamom, among others.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/organic-spices-market
Further key
findings from the report suggest:
- In terms of revenue, whole organic spices
products is projected to ascend at a CAGR of 5.3% from 2019 to 2025,
attributed to increasing usage of spices in the commercial segment for
food processing units
- Powder product segment held the leading market
share of over 52% in terms of volume in 2018, due to the easy availability
and convenience of usage of these products
- Supermarket/hypermarket distribution channel held
the leading market share of over 45% in 2018
- Asia Pacific led the global organic spice market
with around 35% revenue share in 2018. It is projected to continue leading
over the next few years owing to the innovation of new flavors in key
countries including, China, India, and Bangladesh
- The market is highly competitive in nature with
the presence of key players including, Yogi Botanicals Pvt. Ltd.; Live
Organics; Starwest Botanicals; Salzhäusl Himalaya-Kristallsalz GmbH; Rocky
Mountain Company; Rapid Organic Pvt. Ltd.; Organic Spices Inc.; Earthen
Delight; The Spice Hunter; and Frontier Natural Products Corporation
Grand View Research has
segmented the global organic spice market on the basis of product, application,
distribution channel, and region:
Organic Spices
Product Outlook (Revenue, USD Million, 2015 - 2025)
- Whole
- Powder
- Chopped/Crushed
Organic Spices
Application Outlook (Revenue, USD Million, 2015 - 2025)
- Commercial
- Household
Organic Spices
Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
- Supermarket/hypermarket
- Convenience stores
- Online
Organic Spices
Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- India
- China
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
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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.
For more info visit @ https://www.grandviewresearch.com
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