Global Seasonings and Spices Market Poised to Exceed USD 22.44 Billion by 2030, with a Steady CAGR of 5.3% | Taste the Future, Spicing Up the Market

New York, NY, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Seasonings And Spices Market - By Application (Bakery & Confectionery, Frozen Products, Convenience Food & Snacks, Meat & Poultry Products, And Sauces & Dressings), By Product Type (SALT SUBSTITUTES, Salt, Individual & Mixed Spices, Pepper, And Dried Herbs), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Seasonings and Spices Market size & share in terms of revenue was valued at USD 14.85 billion in 2022 and it is expected to surpass around USD 22.44 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.3% during the forecast period 2023 to 2030.”

What are Seasonings and Spices? How big is the Seasonings and Spices Industry?

Spices and seasonings are essential ingredients employed to impart aroma, flavor, preservation, and color to food and beverage products. These diverse products are extracted from various parts of plants, encompassing flowers, barks, fruits, buds, seeds, leaves, roots, and plant tops. Spices find their application in a wide range of food and beverage items, including health-oriented ingredients like turmeric and pepper. The global appetite for such health-conscious spices underscores the market's positive growth trajectory.

Seasonings and Spices Report Coverage & Overview:

Seasonings and spices play an essential role in every culinary tradition by infusing unique aromas and distinctive flavors into dishes. Moreover, these ingredients are widely employed to enhance the taste, color, flavor, and scent of food and beverages. Some spices and seasonings also serve as natural preservatives. Additionally, a variety of herbs and spices contribute to the composition of seasonings. These culinary components hold significance in both commercial food production and household cooking practices. The increasing use of premium spices and seasonings for home-cooked meals is expected to unlock fresh growth opportunities for the global seasonings and spices market in the years ahead.

Notably, spices like ginger, turmeric, dried bell peppers, cloves, whole black pepper, and cinnamon offer not only flavor but also nutritional advantages. This aspect is anticipated to foster the expansion of the seasonings and spices industry.

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Global Seasonings and Spices Market: Growth Dynamics

Consumers typically seek out Spices and Seasonings that are both more natural and healthier. Nowadays, they display heightened awareness and interest in the origins and manufacturing methods of products. In advanced economies, individuals are increasingly adopting sustainable sourcing practices to ensure the reliability of supply chains, product excellence, and, notably, the well-being of spice growers. As the trend of sustainability certification gains prominence in the spice industry, the market presence of responsibly cultivated spices and herbs is on the rise across various global regions.

Changing dietary preferences and consumers' quest for unique taste experiences will open up lucrative growth opportunities for the seasonings and spices industry in the foreseeable future. The increasing use of salt by food manufacturers in response to rising demand will contribute to the expansion of the seasonings and spices market during the forecast period. The need for expanding product lines and enhancing production capacity will also drive market growth in the coming years. Additionally, the heightened adoption of spices and seasonings by convenience food producers to improve product quality and prolong shelf life will further fuel market expansion over the forecast period.

Moreover, the growing consumption of processed meat and convenience food products, coupled with the rising emphasis on clean labels, will enhance the potential for business growth in the coming years. The increased usage of natural flavors and ingredients is expected to play a significant role in boosting the growth of the seasonings and spices market in the upcoming years.

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Report Scope

Seasonings and Spices Market: Segmentation Analysis

Pepper is projected to dominate a significant portion of the global spice and seasoning market and is anticipated to maintain its leading position throughout the forecasted period. The segment's growth is propelled by the increasing popularity of pepper's flavor and the growing awareness among consumers regarding its health advantages. Furthermore, the heightened focus of pepper-producing nations on digitalization is expected to provide additional support for this growth. For example, Olam International utilizes an integrated smart agriculture system to cultivate black pepper in both Vietnam and Brazil. This system includes automated drip irrigation, weather stations, and real-time monitoring. The advantages of these software solutions are manifold, including real-time monitoring, which ensures product protection and is expected to further contribute to the segment's expansion.

Snacks and convenient edibles stand as pivotal commodities within the domain of spice and seasoning trade. The burgeoning preference for savory-flavored snacks serves as the impetus behind the expansion of this segment. The offerings of blending companies have grown to encompass not only spice preparation but also the incorporation of other constituents like salt, garlic powder, lemon, dehydrated vegetables, and assorted flavorings. The customization capabilities provided by spice manufacturers are anticipated to uphold the segment's dominant position throughout the projected period. Within the bakery and confectionery realm, growth is envisaged as Spices and Seasonings are harnessed to infuse diversity into their array of products. The demand for spices such as cinnamon, allspice, ginger, and nutmeg witnessed an upsurge during Easter, a consequence of the stay-at-home measures spurred by the COVID-19 pandemic. Experts skilled in spice mixing are increasingly collaborating with the bakery and confectionery sectors, generating ready-to-use spice blends that are poised to foster growth in the forthcoming years.

The frozen foods domain is on the cusp of substantial expansion, owing to the classification of herbs as food preservatives and longevity-enhancing agents, particularly in regions characterized by tropical climates. Enterprises based in tropical zones are introducing seasonings, extending the gourmet dining experience to a broader audience.

In October 2021, Orika, an upscale gourmet spice brand hailing from India, unveiled a range of herb and seasoning sprinklers. Crafted from premium ingredients, these products are designed to infuse an aromatic and flavorful dimension into an array of recipes.

The global Seasonings and Spices market is segmented as follows:

By Application

• Bakery & Confectionery
• Sauces &  Dressings
• Frozen Products
• Convenience Food & Snacks
• Meat & Poultry Products

By Product Type

• SALT SUBSTITUTES
• Dried Herbs
• Salt
• Individual &Mixed Spices
• Pepper

Browse the full “Seasonings And Spices Market - By Application (Bakery & Confectionery, Frozen Products, Convenience Food & Snacks, Meat & Poultry Products, And Sauces & Dressings), By Product Type (SALT SUBSTITUTES, Salt, Individual & Mixed Spices, Pepper, And Dried Herbs), And By Region- Global Industry Perspective, Comprehensive Analysis, And Forecast, 2023 – 2030” Report at https://www.zionmarketresearch.com/report/seasonings-and-spices-market

Competitive Landscape

Some of the main competitors dominating the global Seasonings and Spices market include - 

• Ariake Japan Company
• Worlee – Chemie GmbH
• The Kraft Heinz Company
• SHS Group
• MDH Spices
• McCormick & Company
• Knorr
• Everest Spices
• Olam International Limited
• Sensient Technologies
• Ajinomoto Co. Inc.
• Nestle S.A.
• and Dohler Group.

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Seasonings and Spices market is likely to expand at a CAGR of around 5.3% during the forecast period (2023-2030).                                
• In terms of revenue, the Seasonings and Spices market size was valued at around US$ 14.85 billion in 2022 and is projected to reach US$ 22.44 billion by 2030.
• Based on type segmentation, the Pepper is predicted to dominate the worldwide spice and seasoning market over the forecast period.
• Based on application segmentation, In the spice and seasoning trade, snacks and convenience foods are most essential.
• On the basis of geography/region, the “North America” region was the leading revenue generator in 2022.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Seasonings and Spices industry?
• What are the main driving factors propelling the Seasonings and Spices Market forward?
• What are the leading companies in the Seasonings and Spices Industry?
• What segments does the Seasonings and Spices Market cover?
• How can I receive a free copy of the Seasonings and Spices Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis by Product Type, by Application, and by Geography
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The Spices and Seasonings market worldwide saw its epicenter in North America. This region has stood as a prominent hub for these products, with evolving consumer habits redefining perspectives on herbs. Moreover, a novel array of industries is emerging in the United States and Canada, harnessing spices for purposes beyond flavoring, which is projected to steer the market's trajectory in the forthcoming years. The surge in popularity of ready-to-consume foods and the escalating desire for diverse ethnic cuisines have collectively propelled the spice market's expansion in this area. As the demand for Spices and Seasonings continues to rise, local manufacturers in North America are intently focused on introducing inventive and premium offerings to cater to consumers.

Meanwhile, the Asia Pacific market is poised for significant growth, fueled by the burgeoning food processing sectors within the region. Notably, India, China, and Vietnam stand out as major consumers and producers within the spice market landscape. According to the Food and Agriculture Organization (FAO), the shifting dietary patterns, particularly in developing nations, are being shaped by escalating incomes, urbanization, and rapid economic progress. This shift, along with an increasing enthusiasm for traditional dishes and exposure to exotic culinary delights, is anticipated to have a positive influence on the market's trajectory.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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