Spices Market to enjoy ‘explosive growth’ | McCormick & Company Inc., Frontier Co-op, Colorado Spice
Research Reports
Aug 25, 2023
Spices Market Overview:
According to MRFR analysis, the global Spices Market Size was valued at USD 15.5 billion in 2022. The spices market industry is projected to grow from USD 16.2 Billion in 2023 to USD 20.9 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.33% during the forecast period (2023 – 2030).
The global Spices Market refers to the worldwide trade and consumption of a diverse range of aromatic plant products that are used for flavoring, coloring, and preserving food. These products can include both whole and ground spices, herbs, and blends, and are sourced from various regions around the world. The global spices market is driven by the demand for unique and exotic flavors, as well as the increasing awareness of the health benefits associated with certain spices. The market includes a wide variety of products, ranging from common spices such as black pepper and cinnamon, to more specialized products like saffron and cardamom.
The COVID-19 pandemic had a significant impact on the global spices market Disruptions in the supply chain: The pandemic has disrupted the global supply chain, affecting the production, processing, and transportation of spices. This has led to delays in shipments, increased costs, and reduced availability of certain products.
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Key Players:
Some of the key market players are McCormick & Company Inc, Frontier Co-op, Colorado Spice, The Watkins Co., Organic Tattva, Organic Spices Inc, Sauer Brands Inc, B&G Foods Inc, Terana SA
Market Segmentation:
The global spices market has been segmented into type, form and end-use.
Based on the type, the market has been segmented into garlic, ginger, turmeric, cumin, cinnamon and pepper.
Based on the Category, the market has been segmented into Organic and Conventional
Based on the form, the market has been segmented into whole and powder
Based on the end-use, the market has been segmented into food retail, food service and food processing.
Browse In-depth Market Research Report (110 Pages) on Spices: https://www.marketresearchfuture.com/reports/spices-market-1644
Regional Analysis:
The largest region of the global spices market is Asia-Pacific. This region is a major producer and consumer of spices, with countries such as India, China, and Indonesia playing a significant role in the industry. India is the largest producer and exporter of spices in the world, with a wide range of spices grown and exported from the country, including cumin, turmeric, and black pepper. Other countries in the region, such as Vietnam, Thailand, and Sri Lanka, are also major players in the industry.
The Asia-Pacific region’s dominance in the global spices market is due to a variety of factors, including the favourable climate for growing spices, the rich cultural history of using spices in cuisine, and the large population of the region, which creates a significant domestic market for spices.
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Future:
Organic Spices and Herbs Market Information- by Spices Type (Chilies, Garlic, Ginger, Turmeric, Cumin, Pepper, Cinnamon, Cloves, Cardamom and Others), by Herbs Type (Basil, Mint, Marjoram, Parsley, Oregano, Sage, Bay Leaves, Dill, Thyme, Rosemary, Celery, Kaffir lime leaves and Others), by Form (Whole, Powder, Crushed/Chopped, Essential oil and Others), by Application (Culinary, Meat &Poultry Products, Sauces & dips, Snacks & Convenience Foods, Soups & Noodles, Ready to Eat Meals, Beverages, Personal Care and Other) and Region – Forecast to 2030
Organic Spices Market Global Research Report by Type (Basil, Garlic, Ginger, Turmeric, Cumin, Cinnamon, Pepper, Clove, Cardamom and others), Form (Whole, Ground/Powder, Others) Distribution Channel (Store-Based [Supermarkets & Hypermarkets, Convenience Stores and others], Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2030
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