Global Spices & Seasonings Market to reach USD 20.4 billion by 2025.
Global Spices & Seasonings Market valued approximately USD 13.3 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.5% over the forecast period 2018-2025. The major driving factor of global spices & seasonings market are growing middle class population, increasing awareness amongst end-user regarding the health and increased usage of spices as natural preservatives. Moreover, the rapid increase in demand for healthy and nutrition-rich foods from the health-conscious young population globally has broader the consumer base of this segment of food products. The major restraining factor of the global spices & seasonings market hesitation amongst the user to shift their preference from traditional eating habits and stringent government regulations related to food additives. A spice is a seed, fruit, root, bark, or other plant substance primarily used for flavoring, coloring or preserving food. Spices are distinguished from herbs, which are the leaves, flowers, or stems of plants used for flavoring or as a garnish whereas Seasoning is the process of adding salt, herbs, or spices to food to enhance the flavor. There are various benefit of spices & seasonings such as it can improve brain function and memory, has a powerful anti-diabetic effect, it helps fight infections and boosts immunity and can combat sickness and improve health.
The regional analysis of Global Spices & Seasonings Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the dominant player which leads the global spices & seasonings market due to rising awareness regarding the medicinal properties of spices. Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025, due to increase in growth of the overall economy. China is the leading country-wise market for spices in Asia Pacific, followed by India due to the presence of vast growth opportunities, several international spice companies are focusing on expansion strategies in the region, expected to make the Asia Pacific spice market much more mature and increasingly competitive over the coming years.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
> Meat & Poultry Product
> Snacks & Convenience food
> Soup, Sauces & Dressings
> Bakery & Frozen Products
> Beverages
> Other Application
By Types:
> Pepper
> Capsicum
> Ginger
> Cinnamon
> Cumin
> Turmeric
> Nutmeg & Mace
> Cardamom
> Coriander
> Cloves
> Others
By Regions:
> North America
o U.S.
o Canada
> Europe
o UK
o Germany
> Asia Pacific
o China
o India
o Japan
> Latin America
o Brazil
o Mexico
> Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2015, 2016
Base year - 2017
Forecast period - 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include Syniverse Technologies LLC, Mccormick & Company, Olam International, Ajinomoto Co. Inc., Associated British Foods PLC, Kerry Group PLC, Ariake Japan Co. Ltd., Sensient Technologies, Dohler Group, SHS Group, Worlee Gruppe, Everest Spices, Zhumadian Wang shouyi, MDH Spices, Nestle, Haitian and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Spices & Seasonings Market in Market Study:
> Key Consulting Companies & Advisors
> Large, medium-sized, and small enterprises
> Venture capitalists
> Value-Added Resellers (VARs)
> Third-party knowledge providers
> Investment bankers
> Investors
