Seasoning and Spices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global seasoning and spices market is projected to grow at a CAGR of 4.96% during the forecast period (2022 - 2027).

The market for spices and seasonings has witnessed a rapid uptick with the onset of COVID-19, wherein some select spices meant to provide immunity, such as turmeric, ginger, and garlic, have received tremendous responses from consumers globally. In developed economies that are largely dependent on imports from developing countries, initially, supply chain risk persisted; however, being one of the most sought-after destinations for herbs, spices, and seasonings, as well as products having a recognizable value and local demand, the market entry at present is less impacted by the same.

Spices and herbs are more aligned toward health and wellness; along with it, the retail food products manufacturers have also further increased the application of spices and seasonings to fit the taste and preferences of the various ethnicities of the consumer across the globe. Products such as ginger, dried capsicum/pimento, uncrushed pepper, Curcuma, cinnamon, and cloves have the most potential for growth in the market. The nutritional benefits of various spices have helped grow the market.

Key Market Trends

Increased Demand for Spices Blends in Food Industry

Blended spices have witnessed a huge demand from various food and beverages worldwide, as blended spices are convenient for numerous applications, such as savory snacks, ready meals, and sauces, among others. With their complex flavor layers, the spice blends of north Africa and the eastern Mediterranean are attracting interest in North American countries. There has been a lot of interest in blends containing Middle Eastern spices in North American cuisines, such as a mix of turmeric, coriander, and warm brown spices. Various studies show that 50 % of United States consumers seek to try new and exciting flavors. This is indirectly supported by the rising demand for ethnic cuisine food offeofferingsving the demand for spice blends globally.

Salt and Salt Substitute Rising the Segment

The rising trend of organically harvested food ingredients drives the salt category, boosting the demand for gourmet salts. These salts are naturally garnered from sea salts containing low sodium levels. Demand for these salts is relatively high across many regions, With consumers shifting their food patterns toward the consumption of healthy alternatives. Globalization and the healthy influence of westernization in emerging countries are fuelling the demand for foreign cuisines, such as Italian and French foods, which call for specialized flavors and seasonings. There is also a growing opportunity for organic flavored salts from all-natural ingredients. The flavored salts market is influenced directly by the trends in the food industry, particularly the fast food and meat industries.

Competitive Landscape

The global spices and seasonings market is highly fragmented and competitive with various players. The companies are making themselves more competitive by strengthening their distribution systems, entering partnerships, acquisitions, new regions, expanding product range, etc. Some major players operating in the market are Kikkoman Corporation, McCormick & Company, Inc., Olam International, Kerry Group plc, and Sensient Technologies Corporation.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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