Spices and Seasonings Market Analysis Report 2024: Growth of e-Commerce and Online Retail Platforms - Global Forecasts to 2032
Dublin, March 18, 2024 (GLOBE NEWSWIRE) -- The "Spices and Seasonings Market Report by Product (Salt and Salt Substitutes, Herbs, Spices), Application (Meat & Poultry Products, Snacks & Convenience Foods, Soups, Sauces and Dressings, Bakery & Confectionery, Frozen Products, Beverages, and Others), and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global spices and seasonings market size reached US$ 27.3 billion in 2023. The market is projected to reach US$ 41.2 billion by 2032, exhibiting a growth rate (CAGR) of 4.7% during 2023-2032
The increasing interest in international cuisines, culinary diversity, the rising consumer demand for natural and healthier flavor enhancers, and the inflating disposable incomes of individuals are some of the factors propelling the market.
The global market is primarily driven by the increasing interest in diverse cuisines and culinary experiences. In line with this, the rising awareness among consumers regarding the health benefits associated with spices and seasonings, including their antioxidant, anti-inflammatory, and digestive properties, is significantly contributing to the market.
Furthermore, the growing multiculturalism and globalization of food preferences lead to the demand for a wide variety of spices and seasonings, reflecting different culinary traditions and regional flavors. Apart from this, the busy urban lifestyles and the desire for convenient and flavorful meal options contribute to the demand for spices and seasonings that can add depth and complexity to dishes quickly and easily.
Moreover, the rise of culinary tourism and the exploration of new flavors and authentic cuisines from around the world fuel the demand for spices and seasonings associated with different culinary destinations. Besides, the food service sector, including restaurants, hotels, and catering services, catalyzes the market as chefs and culinary professionals seek to offer unique and flavorful dishes. Additionally, the rapid product innovation in the spice and seasoning industry, including the development of new blends, flavors, and formulations, stimulates the market.
Growth of e-commerce and online retail platforms
The growth of e-commerce and online retail platforms is favorably impacting the market. The convenience and accessibility offered by online shopping have transformed how consumers purchase their food and culinary ingredients, including spices and seasonings. E-commerce platforms provide a wide range of options, allowing consumers to explore and discover different spices and seasonings worldwide. They offer a convenient shopping experience, allowing consumers to browse, compare prices, read reviews, and make informed choices from their homes.
Furthermore, online retail platforms also facilitate direct-to-consumer sales, connecting consumers with specialty spice vendors, artisanal brands, and unique flavor profiles that may not be readily available in local stores. This opens up a world of possibilities for consumers to experiment with new spices and seasonings, expanding their culinary horizons.
Moreover, the growth of e-commerce has enabled small and niche spice businesses to reach a wider customer base, eliminating geographical limitations. It has fostered entrepreneurship and enabled direct communication between consumers and spice producers, creating a more transparent and personalized shopping experience.
Increasing consumer demand for ethically sourced and sustainable products
The increasing consumer demand for ethically sourced and sustainable products is bolstering the market. Consumers today are more conscious of the environmental and social impact of their purchasing decisions, and they actively seek out products that align with their values. Ethical sourcing and sustainability practices are crucial considerations for spice manufacturers and suppliers. Consumers are concerned about fair trade practices, the welfare of farmers and workers, and the environmental impact of spice production.
They demand transparency and accountability in the supply chain, ensuring that spices are sourced responsibly and sustainably. Companies responding to this demand prioritize fair trade certifications, organic farming practices, and sustainable sourcing methods. They partner with local farmers, support community development initiatives, and implement environmentally friendly cultivation and harvesting techniques. As consumers increasingly seek ethically sourced and sustainable products, the market for spices and seasonings that meet these criteria grows. Brands that demonstrate a commitment to social and environmental responsibility gain a competitive edge and capture the attention of conscious consumers.
Furthermore, the demand for ethically sourced and sustainable spices and seasonings extends beyond the consumer market. Food service establishments, restaurants, and hotels also respond to this trend by seeking suppliers that provide high-quality, responsibly sourced spices.
Rising preference for clean-label and natural ingredients
The rising preference for clean-label and natural ingredients is fueling the market. Consumers are increasingly seeking products with minimal processing, free from artificial additives, preservatives, and flavor enhancers. Spices and seasonings are crucial in meeting this demand as they are naturally derived from plants.
They offer a way to enhance food flavor and aroma without using synthetic or chemical additives. Clean-label and natural spices and seasonings are perceived as healthier and more authentic, aligning with consumer desires for transparency and a closer connection to the origins of their food. They offer a way to infuse dishes with distinctive flavors while focusing on simplicity and purity. Brands and manufacturers responding to this trend are offering spice and seasoning products that are minimally processed, organic, non-GMO, and free from artificial ingredients.
They emphasize using high-quality raw materials, responsible sourcing, and sustainable farming practices. The rising preference for clean-label and natural ingredients has driven innovation in the spices and seasonings market, leading to the development of organic spice blends, reduced-sodium options, and unique flavor profiles worldwide. This trend continues to shape the market as consumers seek spices and seasonings that enhance the taste of their dishes while aligning with their desire for clean, natural, and unadulterated ingredients.
Asia-Pacific exhibits a clear dominance, represented the largest Spices and Seasonings market share
The Asia-Pacific's rich culinary heritage and diverse food cultures contribute to the demand for a wide variety of spices and seasonings. The influence of various cultures on food habits, including traditional Asian cuisines such as Indian, Chinese, Thai, and Indonesian, catalyzes the market as consumers seek to replicate authentic flavors. Moreover, there is a growing awareness of the medicinal benefits of spices in the Asia-Pacific. Many spices, such as turmeric, ginger, and garlic, have long been used in traditional medicine for their therapeutic properties. The rising health consciousness among consumers fuels the product demand with perceived health benefits.
Furthermore, the food processing sector in the Asia-Pacific is experiencing significant growth. Spices and seasonings are essential ingredients in processed food products, snacks, and ready-to-eat meals. The expanding food processing industry drives the market in the region. Additionally, the increasing population and rising disposable incomes contribute to market growth. As consumers have more disposable income, they can afford to experiment with a wider range of spices and seasonings, further boosting the market demand.
Competitive Landscape
Top companies in the market play a pivotal role in propelling the market growth of this industry. These companies invest in research and development to create innovative spice blends, unique flavor profiles, and sustainable sourcing methods. They have established strong supply chains and partnerships with farmers and growers worldwide, ensuring a consistent supply of high-quality spices and seasonings. These companies prioritize responsible and ethical sourcing practices, promoting fair trade and sustainability throughout the value chain.
They also invest in marketing and branding initiatives to create awareness and promote their products. They collaborate with chefs, culinary experts, and influencers to showcase the versatility and benefits of their spice offerings. Moreover, these companies focus on product quality and safety, adhering to strict quality control measures and certifications to meet consumer expectations. They actively engage with consumers, gathering feedback and adapting their product offerings to meet evolving tastes and preferences.
Key Questions Answered in This Report
What was the size of the global spices and seasonings market in 2023?
What is the expected growth rate of the global spices and seasonings market during 2024-2032?
What are the key factors driving the global spices and seasonings market?
What has been the impact of COVID-19 on the global spices and seasonings market?
What is the breakup of the global spices and seasonings market based on the product?
What is the breakup of the global spices and seasonings market based on the application?
What are the key regions in the global spices and seasonings market?
Who are the key players/companies in the global spices and seasonings market?
Key Attributes:
Report Attribute | Details |
No. of Pages | 142 |
Forecast Period | 2023 - 2032 |
Estimated Market Value (USD) in 2023 | $27.3 Billion |
Forecasted Market Value (USD) by 2032 | $41.2 Billion |
Compound Annual Growth Rate | 4.7% |
Regions Covered | Global |
Competition Analysis
Ajinomoto Co. Inc.
ARIAKE JAPAN Co. Ltd.
Associated British Foods plc
Baria Pepper Co. Ltd.
Dohler GmbH
DS Group
EVEREST Food Products Pvt. Ltd.
The Kraft Heinz Company
Kerry Group plc
McCormick & Company
Olam International
Sensient Technologies Corporation
SHS Group
Spice Hunter (Sauer Brands Inc.)
Unilever plc
Worlee-Chemie GmbH
Spices and Seasonings Industry Segmentation:
Breakup by Product:
Salt and Salt Substitutes
Herbs
Thyme
Basil
Oregano
Parsley
Others
Spices
Pepper
Cardamom
Cinnamon
Clove
Nutmeg
Others
Breakup by Application:
Meat & Poultry Products
Snacks & Convenience Food
Soups, Sauces and Dressings
Bakery & Confectionery
Frozen Products
Beverages
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/rm220b
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