Spices and Seasonings Market Size & Share, by Form (Whole, Crushed, Powder); Product (Spices, Herbs, Salt & Salt Substitutes); Distribution Channel (Foodservice, Retail); Application (Meat & Poultry Products, Snacks & Convenience Food, Soups, Sauces and Dressings, Bakery & Confectionery, Frozen Products, Beverages)- Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6182
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Spices and Seasonings Market size was over USD 28 Billion in 2023 and is anticipated to cross USD 48.2 Billion by the end of 2036, witnessing more than 6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of spices and seasonings is assessed at USD 29.4 Billion.

This market growth is encouraged by the growing global demand for food, leading to a higher need for various seasonings spices crucial for enhancing the taste of food and beverages.

As per the Food and Agriculture Organization, to feed the 9.1 billion people that will inhabit the planet by 2050, total food production would need to increase by about 70%.


Spices and Seasonings Market
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Spices and Seasonings Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising focus on sustainability - The growing market for seasonings spices that are produced sustainably is rising as people prioritize quality and sustainability more.

    For instance, it was found in a survey that more than 55% of C-level executives from large global corporations reported that their organizations are using more sustainable materials as part of their efforts to combat climate change.
  • Growing tourism - A new area of the tourism industry is spice tourism since seasonings spices are closely associated with the area's geographical features for giving dishes authenticity and taste as individuals experiment with different international cuisines, and contribute significantly to improving lifestyles by drawing tourists to regions mainly used for agriculture.

    In 2022, travel and tourism made up over USD 7 trillion in direct contributions to the global gross domestic product (GDP).
  • Increasing production of meat and poultry products - The use of spices and herbs as natural food preservatives has grown in popularity recently, which are used to enhance the color, and flavor, and prolong the meat's shelf life by preventing microbial deterioration.

    Global poultry output reached over 120 million metric tons in 2023.

Challenges

  • Health concerns associated with excess consumption - Overindulging in seasonings spices can have several negative effects, including cramping, nausea, vomiting, and diarrhea that may be brought on by increased mucus production in the stomach and a brief rise in metabolic rate.

    According to certain data, consuming a lot of spicy foods, including capsaicin the ingredient in red peppers and chilies, may irritate the lining of the stomach and raise the risk of stomach cancer by causing inflammation.
  • Quality concerns - Sincere worries about the quality of spices have been aroused by spice adulteration in international markets that have economic ramifications that go beyond temporary declines in exports, thus impacting the demand.

    For instance, The Department of Food Technology reports that many products, including Madras Curry Powder, Sambhar Mixed Masala Powder, Mixed Masala Curry Powder of MDH, and Fish Curry Masala of Everest, have been immediately banned owing to possible ethylene oxide (EtO) contamination.

Spices and Seasonings Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

6%

Base Year Market Size (2023)

USD 28 Billion

Forecast Year Market Size (2036)

USD 48.2 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Spices and Seasonings Segmentation

Product (Spices, Herbs, Salt & Salt Substitutes)

Spices segment is set to capture around 56% spices and seasonings market share by the end of 2036. The segment growth can be attributed to the rising trade of spices. For more than a millennium, the world's political, social, and economic processes have been greatly influenced by seasoning spices and the spice trade, which is a major source of income for millions of people.

Since 1970, the global spice trade has grown steadily, led by the rising need for spices and seasonings including paprika, pepper, oregano, mint, and sesame, and the rising use of processed foods is another factor.

According to the OEC World, spices ranked 672nd out of 1,218 products traded globally in 2022.

Form (Whole, Crushed, Powder)

By the end of 2036, the powder segment is likely to register substantial spices and seasonings market revenue on account of the expanding restaurant and food service industry. By 2027, the value of the restaurant and food service business worldwide is expected to have increased to around USD 55 billion from its current projected USD 34 billion.

As a result, there is a growing focus on taste and flavor since taste is the top priority in restaurants, therefore they utilize many different types of powdered spices; some of the most popular ones include cardamom, coriander, cumin, and turmeric to prepare curry bases as they possess a stronger flavor than those found in fresh spices.

Distribution Channel (Foodservice, Retail)

The foodservice segment is estimated to gather the highest CAGR in the coming years. The major factor for the expansion of the segment is the growing number of hotels. For instance, in the upcoming years, there will be more hotels opened globally, with a potential peak of roughly 2,706 by 2024.

The hotel industry is booming, and seasoning spices are being used regularly by hotels nationwide to cater to unique flavor profiles.

Our in-depth analysis of the spices and seasonings market includes the following segments:

          Form

  • Whole
  • Crushed
  • Powder

         Distribution Channel

  • Foodservice
  • Retail

        Application

  • Meat & Poultry Products
  • Snacks & Convenience Food
  • Soups, Sauces and Dressings
  • Bakery & Confectionery
  • Frozen Products
  • Beverages

         Product

  • Spices
  • Herbs
  • Salt & Salt Substitutes

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Seasonings Spices Industry-Regional Synopsis

APAC Market Statistics

Asia Pacific region in spices and seasonings market is anticipated to account for revenue share of around 40% by 2036. The market growth in the region is also expected on account of a growing population, which has led to higher imports of spices, herbs, and seasonings from developing nations to meet the growing desire for Western cuisine, and organic flavors.

As per the United Nations Population Fund, 60% of the world's population lives in the Asia-Pacific area.

One of the major exporters of seasonings and spices worldwide is China, propelled by the nation's export-focused policies and quickly expanding economy.

For instance, China became the second-largest spice exporter in the world with more than USD 510 million in exports in 2022.

In India, packaged spices and seasonings are becoming more popular, and Millennials are a major target market led by the growing need in the food service sector for convenience and ready-to-use ingredients.

Japan's market for seasonings spices may grow as Japanese customers are prepared to spend more for dressings, sauces, and soups made using unusual and exotic spice combinations.

North American Market Analysis

North America area will also see substantial growth in the seasonings and spices market throughout the projection period driven by the rising personal disposable income in the region. As a result, more and more people in the region are consuming seasonings and spices and can afford new & premium food products.

The United States has consumed more ultra-processed meals over the past 20 years, which is projected to raise demand for spices in the area.

As per the data from the OEC World, Canada ranked eighth globally in 2022 after importing USD 95.4 million worth of spices.

Particularly, spices ranked as Canada's 579th most-imported product that year.

Research Nester
Spices and Seasonings Market Size
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Companies Dominating the Spices and Seasonings Landscape

    The spices and seasonings market consists of many key players who are launching various strategic initiatives to expand their market position in the industry.

    • Associated British Foods plc
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Kerry Group plc
    • McCormick & Company, Inc.
    • Döhler GmbH
    • DS Group
    • Everest Spices
    • Bart Ingredients 

In the News

  • McCormick & Company, Inc. announced the introduction of Flavor Maker Seasonings, with more than 13 mixes that are easy to use for all skill levels of home cooks to improve the flavor of any dish, with very little effort.
  • Döhler GmbH partnered with Superbrewed Food a provider of high-quality, sustainable nutrition products that will put Superbrewed Food in a position to quickly grow its commercial offerings in the upcoming year throughout North America and beyond.

Author Credits:  Parul Atri


  • Report ID: 6182
  • Published Date: Jun 13, 2024
  • Report Format: PDF, PPT
Spices and Seasonings Market Report Scope
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