Spices and Seasonings Global Market Report 2024

Spices and seasonings encompass aromatic substances derived from the roots, bark, seeds, leaves, or fruit of plants, as well as combinations of salts, sugars, and spices crafted to elevate the flavor of food. The significance of spices and seasonings is influenced by the specific use and nature of the dish.

Key types of spices and seasonings include pepper, capsicum, ginger, cinnamon, cumin, turmeric, nutmeg & mace, cardamom, coriander, cloves, and others. Pepper refers to seeds obtained from the dried berries (peppercorns) of the Piper nigrum vine. Black pepper, for instance, enhances the flavor in rubs, spice blends, salad dressings, and various culinary applications. Both organic and conventional spices and seasonings find widespread use in diverse applications, spanning meat and poultry products, snacks and confectionery items, bakery and confectionery products, frozen goods, beverages, and more.

The spices and seasonings market research report is one of a series of new reports that provides spices and seasonings market statistics, including spices and seasonings industry global market size, regional shares, competitors with a spices and seasonings market share, detailed spices and seasonings market segments, market trends and opportunities, and any further data you may need to thrive in the spices and seasonings industry. This spices and seasonings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The spices and seasonings market size has grown strongly in recent years. It will grow from $25.05 billion in 2023 to $26.88 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The expansion observed in the historical period can be attributed to several factors, including the heightened demand for spices and seasonings to enrich the flavor of food. Additionally, the growing popularity of ethnic foods and home cooking, increasing income levels leading to a desire for newer food experiences, a preference for exploring new flavors in the foodservice sector and processed food products, and the rising demand from consumers for high-quality, healthy food ingredients have all played a significant role in driving this growth.

The spices and seasonings market size is expected to see strong growth in the next few years. It will grow to $36.82 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period can be linked to the increasing awareness of the medical benefits associated with spices and seasonings. Moreover, the rising demand for novel and exotic tastes, coupled with a preference for organic flavors, contributes to this growth. The heightened consciousness among consumers regarding health, evolving patterns in consumption, and efforts toward extending shelf life also play pivotal roles. Key trends expected in the forecast period encompass the introduction of blended spices, the significant impact of climate conditions on the dependency of spice crops, the prominence of ethnic and regional flavors, an emphasis on transparency and traceability, and the popularity of custom spice blends.

The anticipated growth in the hospitality industry is poised to drive the spice and seasonings market. Factors such as a rapid increase in net disposable income, evolving travel trends, and an improved work-life balance contribute to the expansion of the hospitality sector globally. This surge in the hospitality industry is expected to stimulate the demand for spices and seasonings, as they play a crucial role in the culinary preparations of diverse cuisines worldwide. According to a report by the India Brand Equity Foundation (IBEF) in May 2022, the combined value of domestic, international, and outbound hotel businesses in India was $32 billion in FY20 and is projected to reach $52 billion by FY27, fueled by growing traveler demand and continuous market expansion efforts by travel agencies. Therefore, the burgeoning hospitality industry is anticipated to drive the spices and seasonings market during the forecast period.

The expansion of the food service industry is expected to propel the growth of the spice and seasonings market in the future. Encompassing businesses involved in the preparation, serving, and delivery of food and beverages, the food service industry relies on spices and seasonings to enhance the flavor and aroma of dishes, creating distinctive tastes that cater to customer preferences and elevate the overall dining experience. For example, in August 2023, the U.S. restaurant industry reported sales of $898 billion in 2022, reflecting an increase of $166.5 billion from 2021 sales, as stated in an article by USA Today. Therefore, the upward trajectory of the food service industry is a driving force for the spice and seasonings market.

The adoption of Natural Flavors and Ingredients is a noteworthy trend gaining traction in the spices and seasonings market. Derived from natural sources such as essential oils and extracts, companies in the flavors and seasonings market are incorporating these natural elements to meet customer demands and fortify their positions in the market. For instance, in January 2021, ORCO, an India-based spices and seasonings manufacturer, introduced 32 natural and organic condiments and spices to cater to global customer preferences.

Major players in the spices and seasonings market are increasingly adopting a strategic partnership approach for launching new products. This collaborative strategy allows companies to leverage each other's strengths and resources for mutual benefits and success. In April 2023, McCormick & Company, a U.S.-based food company, collaborated with Tabitha Brown, a U.S.-based actress, to expand their partnership by introducing five new salt-free, vegan seasoning products. These products include two seasoning blends released in spring and three recipe mixes slated for availability later in the summer.

In April 2021, Olam Food Ingredients (OFI), a Singapore-based spices and seasonings manufacturer, acquired Olde Thompson for $950 million. This strategic acquisition is poised to strengthen OFI's offerings of private label solutions, particularly in the United States. Additionally, it aligns with OFI's growth strategy of providing sustainable, natural, value-added food ingredients and solutions. Olde Thompson is a U.S.-based manufacturer known for producing pepper mills, salts, and other spices and related products.

Major companies operating in the spices and seasonings market include McCormick & Company Incorporated, Olam International Limited, Ajinomoto Co. Inc., Associated British Foods PLC, Kerry Group PLC, Kikkoman Corporation, Sensient Technologies Corporation, Cargill Incorporated, Döhler GmbH, House Foods Group Inc., Baron Spices Inc., Prymat Sp. z o .o., SHS Group Limited, The Kraft Heinz Company, Unilever PLC, Ariake Japan Co. Ltd., Baria Pepper Joint Stock Company, The Bart Ingredients Co. Ltd., British Pepper & Spice Co. Ltd., Fuchs North America Inc., Givaudan SA, Griffith Foods Worldwide Inc., International Flavors & Fragrances Inc., Mane SA, Robertet SA, Symrise AG, Takasago International Corporation, T. Hasegawa Co. Ltd., Firmenich SA

North America was the largest region in the spices and seasonings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the spices and seasonings market share during the forecast period. The regions covered in the spices and seasonings market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the spices and seasonings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The spices and seasonings market consists of sales of cloves, coriander, cumin, cardamom, cinnamon, mace, and chili powder. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this spices and seasonings market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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