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spices seasonings market

Spices and Seasonings Market Share, Size, Trends, Industry Analysis Report, By Type (Pepper, Capsicum, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg & Mace, Cardamom, Coriander, Cloves, Others); Application; Nature (Organic, Conventional); By Region; Segment Forecast, 2022 - 2030

  • Published Date: Jan 2022
  • Pages: 115
  • Format: PDF
  • Report ID: PM2205
  • Base Year: 2021
  • Historical Data: 2018 - 2020

Report Summary

The global spices and seasonings market was valued at USD 21.56 billion in 2021 and is expected to grow at a CAGR of 5.7% during the forecast period. The growth in the market is being driven by the rising awareness of the medical benefits of spices and seasonings, the rising popularity of ethnic cuisines, and the growing demand for ready-to-use spice mixes.

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Spices and seasonings are now used for more than just taste and flavor; they also have health advantages. They are utilized in meals to cure health problems or diseases because they have antioxidant capabilities. For instance, turmeric is high in antioxidants and can help prevent diseases like Alzheimer's, cancer, and joint inflammation. Cumin seeds are antiseptic and assist in the immune system's development. They can also be used as a substitute for cosmetics and medications. Black pepper powder is also utilized in the manufacture of pharmaceuticals. It's commonly used to treat gastrointestinal problems, pneumonia, and cancer.

Besides, the rising prevalence of various diseases related to the digestive system has increased the market demand for spices and seasonings. As per the Centers for Disease Control and Prevention (CDC), every year, over 37.2 million visits to doctors' offices for illnesses of the digestive system as the major diagnosis. Around 7.9 million visits to emergency departments with digestive system illnesses as the major diagnosis.

In addition to it, according to the CDC, Alzheimer's disease was estimated to affect 5.8 million Americans in 2020. Alzheimer's disease affects more people as they get older, but it affects fewer people as they get younger. By 2060, it is expected to nearly triple, to 14 million individuals. Thus, this rising prevalence of the various diseases associated with the digestive system and geriatric population is the factor driving the growth of the spices and seasonings industry during the forecast period.

Spices and Seasonings Market

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Industry Dynamics

Growth Drivers
The spices and seasonings market has observed wide developments over the last few decades, supported by factors such as increasing urbanization levels and changing lifestyles. According to the World Bank, in 2020, 56.15% of the total population is urban population. Besides, as per the United Nations, in 2018, urbanization is home to 55% of the world's population, which is anticipated to rise to 68% by 2050. Asia and Africa account for nearly 90% of this increase. India is expected to gain 416 million urban residents by 2050, China 255 million, and Nigeria 189 million.

As per the Food and Agriculture Organization (FAO), increased urbanization will have a variety of effects on people's eating habits and lives, not all of which are favorable. Even in the developing world, changes in diets, work, and leisure patterns - referred to as the "nutrition transition" - are already contributing to the primary factors underlying non-communicable diseases. Furthermore, the rate of change appears to be quickening, particularly in low- and middle-income countries.

The "nutrition transition" is characterized by dietary changes that are both quantitative and qualitative in nature. Additionally, people in the Asia Pacific are changing their eating habits due to rapid economic development, income growth, and urbanization. Traditional foods are increasingly being included in people's daily diets. In metropolitan regions, the market growth of retail outlets such as supermarkets & hypermarkets is likely to increase spice availability, which is expected to boost market demand for spices and seasonings. Consumer lifestyles have shifted due to urbanization.

Cooking time has decreased due to more employment options, higher discretionary income, and a growing number of working women. Working hours are long, and schedules are hectic, so people are looking for quick and easy ways to eat without spending a lot of time cooking. Thus, the rising urbanization and changing lifestyle as people are more engaged in working is the factor accelerating the spices and seasonings industry growth.

Report Segmentation

The market is primarily segmented based on type, application, nature, and region.

By Type

By Application

By Nature

By Region

  • Pepper
  • Capsicum
  • Ginger
  • Cinnamon
  • Cumin
  • Turmeric
  • Nutmeg & Mace
  • Cardamom
  • Coriander
  • Cloves
  • Others
  • Meat & Poultry Products
  • Snacks & Convenience Food
  • Soups, Sauces, and Dressings
  • Bakery & Confectionery
  • Frozen Products
  • Beverages
  • Others
  • Organic
  • Conventional
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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Insight by Type

Based on the type market segment, the ginger segment is expected to be the most significant revenue contributor in the global spices and seasonings industry in 2021 and is expected to retain its dominance in the foreseen period. In the Asia Pacific, most spices have the most significant market share. This is due to the anti-bacterial qualities of herbs, which help to rid foods of infections and contribute to human health, lifespan, and reproductive success in hot climes.

Spices and seasonings such as paprika, pepper, oregano, mint, and sesame have increased market demand due to the fast-growing fast-food business and rising desire for convenience foods. Due to the therapeutic benefits of turmeric and its widespread usage in Ayurvedic medicine and Indian cuisines, demand for turmeric has always been high and continues to rise, particularly in Asian countries.

Geographic Overview

In terms of geography, North America had the highest share in 2021. The North American region is anticipated to grow significantly as a result of the rising consumption of various types of organic food products. Factors such as the huge population and rising demand for authentic ethnic flavors, the rising popularity of convenience foods, and rapidly rising knowledge of the therapeutic effects of spices and seasonings are driving the market.

The significant player's adoption of various strategies in the North American spices and seasonings markets, such as partnerships, collaborations, mergers and acquisitions, and product launches, is also a factor driving the spices and seasonings market growth. In February 2021, The Pioneer Women, a lifestyle brand, has announced the launch of a new line of unique seasonings in collaboration with Old World Spices & Seasonings Inc. in the United States. In addition, in the same month, Kerry has acquired Jining Nature Group, a renowned Chinese manufacturer of savory spices and seasonings. Kerry will gain access to a wide range of authentic local and regional flavor technologies and application capabilities as a result of this acquisition.

Competitive Insight

Significant players operating in the spices and seasonings market include Ajinomoto Co., Inc, AKO GmbH, Ariake Japan Company, Associated British Foods, Dohler Group, Friedrich Ingredients, Kerry Group, McCormick & Company, Inc., Moguntia Food Group AG, Olam International, Pacific Spice Company, Sensient Technologies Corporation, SHS Group, Worlee Gruppe, and Zhumadian Wang Shouyi.

Spices and Seasonings Market Report Scope

Report Attributes

Details

Market size value in 2021

USD 21.56 billion

Revenue forecast in 2030

USD 34.71 billion

CAGR

5.7% from 2022 - 2030

Base year

2021

Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Segments covered

By Type, By Application, By Nature, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Key companies

Ajinomoto Co., Inc, AKO GmbH, Ariake Japan Company, Associated British Foods, Dohler Group, Friedrich Ingredients, Kerry Group, McCormick & Company, Inc., Moguntia Food Group AG, Olam International, Pacific Spice Company, Sensient Technologies Corporation, SHS Group, Worlee Gruppe, and Zhumadian Wang Shouyi.

Key Take-Away
Polaris Market Research
Global Spices and Seasonings Market Size Report, 2022 - 2030