Seasoning & Spices Market Insights: The Key to Unlocking Market Dynamics and Opportunities
Category - Food & Beverage
Report Code - OMR-FB-163
Format: PDF, PPT, and Excel
Seasoning and Spices Market to Expand at a CAGR of 5.0% During Forecast, Factors such as Expansion of E-Commerce as a Distribution Strategy to Increase Sales
Herbs and spices are frequently called "seasonings" when speaking of themselves. However, according to the Larousse Gastronomique, seasoning always involves the inclusion of salt, regardless of how much or how little is used. People frequently use spices, such as seeds, fruits, roots, bark, and other plant components, to add flavor or color to cuisine. In contrast, herbs are the entire plant foliage, flowers, and stems used for flavoring or garnishing. Spices have numerous medicinal, religious, cosmetic, and aromatic applications.
Due to economic, political, and social adjustments, the pandemic epidemic has delayed the market. The crisis had far-reaching effects on the global spice industry, affecting all value chain phases, from primary production centers in developing countries to the international spice trading system. There were labor shortages due to emigration when national governments implemented security measures to prevent the spread of the disease.
Key Takeaways of the Seasoning and Spices Market
By Product
In 2022, the spice industry generated the most revenue globally, and this trend appears to continue. Globalization has made people more receptive to new cuisines and more knowledgeable about the health benefits of spices, both of which have contributed to the rising demand for spices on the international market.
By Form
Regarding global sales, the powder category dominated in 2022 and is anticipated to continue throughout the forecast period. Many restaurants and cafes use pulverized seasonings to enhance their prepared dishes' aroma, flavor, and appearance.
By Distribution Channel
A significant portion of the world's income in 2022 was generated by the food service industry, the largest consumer of seasonings and spices. As more people consume away from home, food processors, QSRs, cafés, hotels, and restaurants are the key food service venues that offer a variety of seasonings and spices in their dishes.
By Application
Snack foods and other convenient meals are the most heavily traded products in the seasoning and spice industry. Snacks with savory flavors are gaining popularity, expanding the industry.
By Region
North America's global market share was the highest in 2022. As people's culinary traditions evolve, the North American market for spices and seasonings has become increasingly essential. Due to the emergence of new end-use industries in the U.S. and Canada, the spices market will likely expand in the coming years.
Changing Consumer Preference to Increase Pathway to Widen Revenue
The awareness and interest of seasonings in the history and methodology of product creation have increased. Consumers in industrialized nations adopt sustainable procurement practices to protect supply chain integrity, product quality, and, most importantly, the livelihoods of producers. As sustainability certification for spices becomes increasingly common, sustainable spices and herbs are acquiring market share in many regions of the globe.
To capitalize on the changing preferences of consumers, businesses are introducing new vegan and vegetarian-friendly products. The growing popularity of spices as vegetarian and vegan meat substitutes has also contributed to expanding the global spices and seasonings market.
Digitization of Various Business Aspects to Propel Increased Market Growth
Increasingly, the procurement of spices and herbs is conducted digitally. Utilizing sensors, electronic resources, and virtual interactions are some of the latest innovations in the supply chain industry. Smartphones, sensors, drones, and satellites are among the digital tools utilized by farmers around the globe. These technologies, including remote evaluation of soil conditions, improved water management, pest and disease emergence forecasts, and crop monitoring, can benefit producers of spices and herbs.
Retail food product manufacturers have increased their use of spices and seasonings to cater to customers' diverse tastes and preferences worldwide. These seasonings and condiments reflect the current trend toward health and wellness.
Global Seasoning and Spices Market Prominent Players
• Kerry Group Plc (Ireland)
• Associated British Foods PLC (U.K.)
• ARIAKE Japan Co. Ltd. (Japan)
• Sensient Technologies Corporation (U.S.)
• Ajinomoto Co., Inc. (Japan)
• SHS Group (U.K.)
• McCormick & Company Inc. (U.S.)
• Watkins Incorporated (U.S.)
• Olam International (Singapore)
• Associated British Foods PLC (U.K.)
• Baria Pepper (Vietnam)
• Dohler Group (Germany)
Report Scope for Seasoning and Spices Market
Product
• Spices
o Pepper
o Ginger
o Cinnamon
o Turmeric
o Coriander
o Cardamom
o Cloves
o Others
• Herbs
o Garlic
o Oregano
o Parsley
o Fennel
o Others
• Salt & Salt Substitutes
o Garlic
o Oregano
o Parsley
o Fennel
o Others
Form
• Whole
• Crushed
• Powder
Nature
• Organic
• Conventional
Distribution Channel
• Foodservice
• Retail
Application
• Meats & Poultry Products
• Snacks & Convenience Food
• Soups, Sauces, and Dressing
• Bakery & Confectionary
• Frozen Products
• Others
Seasoning and Spices Market Regional Segmentation
North America
o U.S.
o Canada
o Mexico
Europe
o Germany
o U.K.
o France
o Spain
o Italy
o Rest of Europe (RoE)
Asia Pacific (APAC)
o Japan
o China
o India
o South Korea
o Rest of APAC
Latin America
o Argentina
o Brazil
o Rest of Latin America
Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
o Rest of MEA
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