The seasoning and spices market in Asia-Pacific is expected to register a CAGR of 5.5% for the forecast period 2018-2023. It is expected that the demand for processed food and beverage products is going to drive the spice and seasoning market in the Asia-Pacific countries.
There is a tremendous demand for pure and organic herbs all over the world. Countries like India, China, and Vietnam in the Asia-Pacific region are promoting organic cultivation of spices, which turns out to be healthier than conventional spices.
The key driver of the Asia-Pacific seasoning and spice market is the increase in consumption of processed food products, which use spices and seasonings as flavor enhancers. Spices like turmeric, sage, and cinnamon are very popular for their medicinal properties. The high growth in this region can be attributed to the rising demand for different spices as the demand for western cuisine is gaining momentum in areas like India and China.
The major restraints in the spice and seasoning market are issues related to food safety, sustainability, and traceability. Other factors include government policies restricting import of spices and poor logistics conditions. Besides, the extreme weather conditions are also posing a threat to the crops used for production of spices and seasonings.
Due to health awareness among consumers, the demand for organic spices has increased, which is opening new export avenues for the production units in the Asia-Pacific organic spices market. The market is considered as a recession-proof market as consumers opt to eat at home during economically recessive times. Hence, this market is prevailing, irrespective of economic conditions.
Based on the product type, the seasoning and spice market in the Asia-Pacific region is segmented into thyme,basil,Cinnamon,Cardamom and others. The cardamom segment is expected to account for the major share of this market during the next few years since it is widely used in several cuisines across the globe.
Further, the Asia-Pacific seasoning and spice market is segmented by application and geography. Seasonings and spices are used in a variety of applications ranging from bakery, herbal medicines, and snacks, among others. India and China are the major contributors to the seasoning and spices market in Asia-Pacific.
December 2016 - Kalustyan Corp., a global manufacturer of industrial herbs and spices, has acquired CrossRoads Spices & Seasonings. Under the new ownership, the business has been renamed CrossRoads Blends, LLC.
Major Players - ASSOCIATED BRITISH FOODS PLC, DÖHLER GMBH, DS GROUP, GOYA FOODS, INC., KERRY GROUP, MCCORMICK & COMPANY, INC., OLAM INTERNATIONAL, OOSTRA SPICE COMPANY, SENSIENT TECHNOLOGIES, SHENANDOAH SPICE COMPANY, THE KRAFT HEINZ COMPANY and WORLÉE GRUPPE, among others.
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- Analyzing outlook of the market with the recent trends and Porters five forces analysis
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- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Market Insights
2.1 Market Overview
2.2 Market Trends
2.3 Industry Attractiveness – Porters Five Forces Analysis
2.3.1 Bargaining Power of Suppliers
2.3.2 Bargaining Power of Consumers
2.3.3 Threat of New Entrants
2.3.4 Threat of Substitute Products and Services
2.3.5 Degree of Competition
3. Market Dynamics
4. Market Segmentation
4.1 By Product Type
4.1.1 Salt And Salt Substitutes
4.2 By Application
4.2.1 Bakery and Confectionery
4.2.3 Meat and Seafood
4.2.4 Sauces, Salads, and Dressings
4.2.5 Savory Snacks
5. Regional Market Analysis
5.1 North America
5.1.4 Rest of North America
5.2.7 Rest of Europe
5.3.5 Rest of Asia-Pacific
5.4 South America
5.4.3 Rest of South America
5.5.1 South Africa
5.5.2 Rest of Africa
6. Competitive Landscape
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
7. Company Profiles
7.1 Mccormick & Company, Inc.
7.2 The Kraft Heinz Company
7.3 Kerry Group
7.4 Sensient Technologies
7.5 Döhler Gmbh
7.6 Associated British Foods Plc.
7.7 Ds Group
7.8 Olam International
7.9 Worlée Gruppe
7.10 Goya Foods, Inc.
7.11 Shenandoah Spice Company
7.12 Oostra Spice Company
- Associated British Foods Plc
- Döhler Gmbh
- Ds Group
- Goya Foods Inc.
- Kerry Group
- Mccormick & Company Inc.
- Olam International
- Oostra Spice Company
- Sensient Technologies
- Shenandoah Spice Company
- The Kraft Heinz Company
- Worlée Gruppe