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Shibuya-ku, Tokyo, Japan, Japan, Jan 10, 2022, 02:35 /Comserve / -- The global spices and seasonings market is expected to grow from USD 21.3 billion in 2026 , at a CAGR of 5.2% from 2021 to 2026. Globally, the spices & seasonings market is driven by the growing demand for convenience food products,
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The global spices and seasonings market is expected to grow from USD 21.3 billion in 2021 to USD 27.4 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. Globally, the spices & seasonings market is driven by the growing demand for convenience food products, clean label trends, and natural preservatives for the meat industry. Growth in food product innovations to incorporate natural ingredients, increase in demand for health and wellness products, and rise in demand for ethnic and authentic food products are emerging opportunities for the spices & seasonings market.
Increasing consumption of healthy food products among modern consumers has led to increasing interest in the origin of the ingredients used to produce these products. Consumers prefer natural and clean-label flavors and ingredients as they are constantly looking for 'natural' nutrition and are opting for products that incorporate inherently natural, fresh, wholesome, and balanced nutrition. They largely perceive“clean label” as having a natural flavor and natural color. The food industry faces the challenge of finding natural ingredients, which will maintain food quality and integrity without compromising on the shelf life, taste, and texture of the food products. Furthermore, natural ingredients are costlier when compared to artificial flavors. Thus, the rising consumer demand for natural food ingredients is anticipated to increase the demand for spices and seasonings in the near future.
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“The market for cloves segment amongst the various types of spices and seasonings is projected to grow at the highest CAGR between 2021 and 2026.” Globally, the cloves segment is expected to increase at the highest CAGR during the forecast period. Originating in Indonesia, cloves are dried flower buds from the clove tree. Cloves are aromatic warm spices with an intense flavor and aroma. The flavor comes from the compound eugenol. Cloves are low in calories but a rich source of manganese. They're otherwise an insignificant source of nutrients. Whole or ground cloves are used to flavor sauces, soups and rice dishes, notably a number of traditional Indian dishes, and it's one of the components of garam masala. Whole cloves are either removed before serving or picked out of the dish. Even when cooked, whole cloves have a very hard, woody texture that would be unpleasant to bite into. Cloves also feature in any number of desserts, especially ground cloves. Cloves are often paired with cinnamon or nutmeg, but in general, it's a good idea to use cloves sparingly.
“The beverage application segment of is projected to grow at the highest CAGR between 2021 and 2026.”
The beverage application segment is projected to grow at the highest CAGR during the forecast period as there has been an increase in the use of natural spices to produce clean labeled beverages. Herbs and spices play a significant part in producing beverages and have been used for many centuries. Some of them were already in use in prehistory (cinnamon, hops, and marjoram). Currently, hundreds of plants are used in the production of beverages for flavoring, preservation, and coloring purposes. Evolving consumer dietary requirements and trends including 'low to no' and 'clean' labels have driven increased interest in spices, herbs and extract flavor solutions for beverages without being calorie-heavy. Hence, globally, launches in beverages with herbs and spices such as ginger or mint are increasing significantly.
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“The organic spices segment by nature in the spices and seasonings market is projected to grow at the highest CAGR between 2021 and 2026.”
Organic spices are projected to grow faster during the forecast period. Organic spices are grown using natural inputs. These crops are not subject to chemicals, pesticides, and insecticides. To make sure that the spices grow well, organic manure is added as a natural fertilizer. Farmers cultivate spices using a completely natural process, and no sort of chemicals are used to enhance the growth of the crops. Organic spices are wholesome, non-GMO, and free of insecticides and pesticides. Organics spices are artificially enhanced to be visually appealing. Since organic species are grown without any usage of harmful chemicals to maintain the plant's phytonutrients properly, the original flavor of spices is preserved.
“European market for spices and seasonings is projected to grow at the highest CAGR during the forecast period.“
The market for spices and seasonings in Europe is projected to witness the highest growth rate during the review period. According to European Commission, the demand for spices and seasonings is expected to continuously grow. Until 2020, growth in demand for food & beverages is expected in eastern EU countries where food expenditure is expected to increase by 30%-35% by 2021 as compared to 2020. Therefore, demand for spices and seasonings is expected to grow in the long run. Eastern European countries such as Romania, Hungary, and Bulgaria are major consumers of sweet pepper powder. The standard of living in Eastern European countries is steadily improving as a result of rising incomes. This is leading to a growing demand for spices and herbs. Southern EU countries are major consumers of spices and fresh herbs, especially those grown locally.
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews have been conducted with the key experts.
The breakup of the profiles of primary participants is as follows:
• By Company type: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20%
• By Designation: C level – 35%, director level – 25%, Executives – 40%
• By Geography: North America– 45%, Europe – 20%, Asia Pacific – 30%, and RoW – 5%
Research Coverage
The report segments the plant extracts market based on type, application, nature and region. In terms of insights, this report has focused on various levels of analyses—competitive landscape, end-use analysis, and company profiles—which together comprise and discuss views on the emerging & high-growth segments of the spices and seasonings market, high-growth regions, countries, government initiatives, drivers, restraints, opportunities, and challenges.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the plant extracts market based on type, application, source and geography have been conducted to provide an overall view of the spices and seasonings market
• Major drivers, restraints, and opportunities for the spices and seasonings market have been detailed in this report.
Table Of Content
1 INTRODUCTION 25
1.1 OBJECTIVE OF THE STUDY 25
1.1.1 MARKET DEFINITION 26
1.2 MARKET SCOPE 26
1.2.1 MARKETS COVERED 26
FIGURE 1 MARKET SEGMENTATION: SPICES & SEASONINGS MARKET 26
1.2.2 INCLUSIONS AND EXCLUSIONS 27
1.2.3 GEOGRAPHIC SCOPE 27
1.3 PERIODIZATION CONSIDERED 28
1.4 CURRENCY CONSIDERED 28
TABLE 1 USD EXCHANGE RATES CONSIDERED FOR THE STUDY, 2017–2020 29
1.5 VOLUME UNITS CONSIDERED 29
1.6 STAKEHOLDERS 29
2 RESEARCH METHODOLOGY 31
2.1 RESEARCH DATA 31
FIGURE 2 SPICES & SEASONINGS MARKET: RESEARCH DESIGN 31
2.1.1 SECONDARY DATA 32
2.1.1.1 Key data from secondary sources 32
2.1.2 PRIMARY DATA 33
2.1.2.1 Breakdown of primary interviews 33
FIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION 33
2.1.2.2 Primary Insights 34
FIGURE 4 PRIMARY INSIGHTS 34
2.2 MARKET SIZE ESTIMATION 34
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