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Redding, California - June 20, 2024

Spices & Seasonings Market to be Worth $30.35 Billion by 2031

Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices {Pepper, Cinnamon, Turmeric}, Herbs {Oregano, Rosemary}, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel - Global Forecast to 2031

Meticulous Research^®— leading global market research company, published a research report titled ‘Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices {Pepper, Cinnamon, Turmeric}, Herbs {Oregano, Rosemary}, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel - Global Forecast to 2031.

According to this latest publication from Meticulous Research^®, the spices & seasonings market is projected to reach $30.35 billion by 2031, at a CAGR of 5.3% during the forecast period 2024–2031. The growth of this market is driven by the increasing demand for convenience foods, the rise in vegetarianism and veganism, and the rising demand for spicy food products. However, the proliferation of counterfeit spice products is expected to restrain the market’s growth.

Moreover, the increasing focus on health and wellness and the growing demand for organic spices & seasonings are expected to offer growth opportunities for the players operating in this market. Additionally, the increasing popularity of ethnic and exotic flavors is a prominent trend in the spices & seasonings market.

Key Players

Some of the key players operating in the spices & seasonings market are McCormick & Company, Inc. (U.S.), Kerry Group plc (Ireland), Döhler Group (Germany), Ajinomoto Co., Inc. (Japan), Associated British Foods plc (U.K.), ARIAKE JAPAN Co., Ltd. (Japan), Baron Spices Inc (U.S.), SHS Group Limited (U.K.), Watkins Incorporated (U.S.), The Bart Ingredients Company (U.K.), and Frontier Cooperative (U.S.).

The spices & seasonings market is segmented by product type (spices {pepper, cardamom, cinnamon, ginger, clove, nutmeg & mace, turmeric, coriander, cumin, chili, and other spices}, herbs {oregano, basil, thyme, parsley, mint, rosemary, fennel, and other herbs}, and salt & salt substitutes), category (conventional and organic), form (whole, powder, and crushed), distribution channel (food service and retail), and geography (North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at the country level.

Based on product type, the spices & seasonings market is segmented into spices, herbs, and salt & salt substitutes. In 2024, the spices segment is expected to account for the largest share of 55.0% of the spices & seasonings market. This segment’s large market share can be attributed to the increasing awareness of the health benefits associated with spices, rising demand for processed and convenient foods with diverse flavors, and growing consumer interest in functional foods.

Based on category, the spices & seasonings market is segmented into conventional and organic. The organic segment is projected to register a higher CAGR during the forecast period. This segment’s growth is driven by the rising number of health-conscious consumers, increasing demand for organic food products, sustainability and clean label trends, and growing government support for organic food production.

Based on form, the spices & seasonings market is segmented into whole, crushed, and powder. In 2024, the powder segment is expected to account for the largest share of the spices & seasonings market. This segment’s large market share can be attributed to the advantages of powdered spices and seasonings, such as ease of use, versatility in mixing with other ingredients, and extended shelf life. Powdered spices and seasonings are versatile, suitable for a wide range of dishes, from savory to sweet, and can be customized easily to accommodate various tastes and preferences.

Based on distribution channel, the spices & seasonings market is segmented into food service and retail. The retail segment is projected to register a higher CAGR during the forecast period. This segment’s growth is driven by the proliferation of e-commerce & online grocery shopping platforms, the convenience and accessibility offered by retail outlets, and the rising preference for home-cooked meals.

Based on geography, the spices & seasonings market is divided into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is projected to register the highest CAGR during the forecast period of 2024–2031. The growth of this regional market is driven by the rising popularity of exotic cuisines, increasing demand for organic and natural products, and the rising preference for home-cooked meals.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5937

Key Questions Answered in the Report:

What are the historical market sizes and growth rates of the spices & seasonings market?
At what rate is the spices & seasonings demand projected to grow over the next 5–7 years?
What are the major factors impacting market growth at the regional and country levels? What are the opportunities for existing players and new entrants in the market?
Which segments, in terms of product type, category, form, and distribution channel, are expected to create traction for the manufacturers in this market during the forecast period 2024–2031?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the players operating in the spices & seasonings market during the forecast period 2024–2031?
Who are the major players in the spices & seasonings market? What are their specific product offerings in this market?
What are the recent strategic developments in the spices & seasonings market? What are the impacts of these strategic developments on the market?

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Redding, California - June 20, 2024

Spices & Seasonings Market to be Worth $30.35 Billion by 2031

Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices {Pepper, Cinnamon, Turmeric}, Herbs {Oregano, Rosemary}, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel - Global Forecast to 2031

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