PUNE, India, Sept. 06, 2017 (GLOBE NEWSWIRE) -- Market Research Future has a Cooked Research Report on Global Organic Spices Market Trends & Forecast 2016 to 2022. According to MRFR analysis, the Global Organic Spices Market is expected to be valued at USD 1.104 billion by the end of 2022, expanding at a CAGR of 6.37%.
Market Research Future (MRFR) recognizes the following companies as the key players in the Organic Spices Market: Frontier Natural Products, Rapid Organic, SOAP, Simply Organic, Earthen Delight, Yogi Botanicals Pvt Ltd, Live Organics Pvt Ltd, The Spice Hunter, Inc. and Starwest Botanicals Inc. The Global Organic Spices Market is dominated by the tier 1 manufactures operating in the market, these players account for more the half of the revenue of global Organic Spices market.
Key Findings in Report:
- In 2016, chillies among the various organic spices accounted for the highest share
- Organic Spices are majorly used for flavor application and are projected to grow at rate of 6.51% during the forecasted period
Market Forecast and Overview:
The global market for organic spices has witnessed continued demand during the last few years and is projected to reach 9,134 kilo tons by 2022, at a CAGR of 6.37% from 2016 to 2022. Increase in versatile demand across various food and beverage segments particularly for convenience foods and beverages is likely to drive the global organic spices market during forecast period 2016 to 2022.
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India being a major producer of spices boosts stronger potential for organic spices supply. Spice exports contribute to nation’s gross income considerably in countries like China, India, Africa and the Middle East. Organic spices are generally sold at premium spices and also in greater demand which can further enhance export revenues in major spice producing countries. Organic farming mechanism starts at grass root level conserving the generative and renewing capacity of the soil, plant nutrition, and soil management, yields nutritious food rich in vitality which has resistance to diseases. Food safety, flavors, medicinal properties and health benefits are driving the organic spices market. There is high demand for organic spices from countries like Europe, USA, Japan and Australia.
Increasing importance of spices for various flavors in foods and medicinal properties has resulted in higher demand for spices. On the other hand, rising awareness for food safety related to pesticide residues in spices and related health hazards has triggered higher demand or organic spices. Demand for organic foods has been slower due to reluctance among farmers to shift from traditional methods of farming to organic farming. Change in food trends and adoption of various international food forms encouraging spices consumption in raw form further encourages demand for organic spices.
Regional Analysis:
“Asia-Pacific is Projected to be the Largest Market during the Forecast Period”
Asia-Pacific region is estimated to dominate the market with more than 50% in the year 2016 followed by North America. India, China and Vietnam are major organic spice producers in the Asia-Pacific region. Presence of various agro-climatic zones and seasons support various organic spices production in this region. Guatemala and Mexico are major organic spices market in the North-American region. Strong potential of spices production and consumption favors organic spices market growth the most among the various regions in the world.
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Market Segment Analysis:
Based on organic spice type, chillies market share was estimated to more than 50% in the organic spices market followed by Garlic and Ginger in the year 2016. Strong historical usage and recognition as household and basic essential for daily usage has supported increase in use of chilli, garlic and ginger globally.
Based on organic spice function, flavor formed an essential function base for organic spices enabling it to gain maximum share which is estimated more than 75% in the year 2016 followed by color. Spices have been majorly used for flavoring or as a garnish since ancient times. The flavor of a spice is derived in part from compounds (volatile oils) from various parts of plants roots, seeds, bark and other plant parts.
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Medicinal Spices Market Information- by Type (Turmeric, Chili, Pepper, Cumin, Garlic, Ginger, Clove, Cinnamon, Nutmeg and others), Form (Seeds, Whole, Ground/Powder, Crushed/Chopped, Roots, Minced, Flakes and others), Medicinal Properties (Anti-Flatulent, Anti-Emetic, Diuretic, Anti-Microbial, Anti-Bacterial, Antispasmodic and others) and Region - Forecast to 2023
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