The global seasoning & spices market size was US$ 33.8 billion in 2021. The global seasoning & spices market is forecast to grow to US$ 50.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2022 to 2030.
Spice is a plant component used for flavouring, colouring, or preserving food, such as a seed, fruit, root, bark, or other elements. Many spices contain antimicrobial effects. Seasonings are considered vital in the preparation of all cuisines since they impart a particular scent and flavour to each.
COVID-19 Impact Analysis
The COVID-19 pandemic has negatively affected the supply chain of the seasoning & spices market, disrupting the entire workflow due to the unavailability of raw materials and laborers. Apart from that, government restrictions, transportation challenges, infrastructural interruptions, and import delays were the primary listed challenges that the industry players witnessed during the pandemic. Due to issues such as weather, water scarcity, and other causes, spice and herb production is experiencing unprecedented unpredictability. Furthermore, the implementation of shutdowns and lockdowns in spice-producing countries such as China, India, and Vietnam had an influence on raw material supply and consumption in the foodservice business.
Regional Analysis
The Asia-Pacific seasoning & spices market is forecast to record a significant growth rate. The growth of the market is attributed to the growing consumption of spices and herbs in the region. Furthermore, these products are extensively used in daily diets, which is expected to offer lucrative growth opportunities for the seasoning & spices market. The market will also be influenced by the well renowned Asian customs, which have been passed down from generation to generation. In addition, the presence of a wide range of spices and herbs having medicinal properties will benefit the market over the forecast period.
Factors Influencing the Market
The surge in demand for spices and seasonings from various end-user industries will primarily drive the market expansion. Moreover, demand for foods with high nutritional value is growing at a rapid pace. As a result, it will be opportunistic for the seasoning & spices market during the forecast period.
The growing global population and rising demand for delicious food will escalate the growth of the seasoning & spices market. Moreover, the growing range of hotels and restaurants will create untapped opportunities for the seasoning & spices market as these products are used to enhance the taste of the food.
Growing initiatives by industry players will accelerate the market growth. For instance, Rumi Spice launched three new spice blends in 2021. Its new range of products includes ‘Rumi Spice Saffron, Wild Black Cumin (Ground), Afghan Curry Braise, Southwest Chili, and Kabul Piquant Chicken’. Thus, more such launches will gain traction and boost the growth of the seasoning & spices market during the forecast period.
Competitors in the Market
• Ajinomoto Co, Inc.
• ARIAKE JAPAN CO, LTD.
• Associated British Foods plc
• Kerry
• McCormick & Company, Inc.
• Baria Pepper
• Dohler Group
• DS Group
• Everest Spices
• Bart Ingredients
• Other Prominent Players
Market Segmentation
The global seasoning & spices market segmentation focuses on Product, Form, Distribution Channel, and Region.
Product Outlook
• Spices
o Pepper
o Ginger
o Cinnamon
o Cumin
o Turmeric
o Coriander
o Cardamom
o Cloves
o Others
• Herbs
o Garlic
o Oregano
o Mint
o Parsley
o Rosemary
o Fennel
• Others
• Salt & Salt Substitutes
Form Outlook
• Whole
• Crushed
• Powder
Distribution Channel Outlook
• Foodservice
• Retail
Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America