Spices and Seasoning Market Size Worth $68.22 Billion By 2032 | CAGR: 6.1%

The global Spices and Seasoning market size is expected to reach USD 68.22 billion by 2032, according to a new study by Polaris Market Research. The report “Spices and Seasoning Market Share, Size, Trends, Industry Analysis Report, By Form (Powder, Whole, Crushed); By Product; By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Spices and seasonings, derived from various plant parts, serve to enhance the aroma, flavor, preservation, and color of food and beverage products. These ingredients, including turmeric and pepper, are integral to various cuisines, with the growing popularity of ethnic foods contributing to increased demand for spice blends and new varieties. Additionally, spices are increasingly utilized by the vegan community as meat substitutes, providing a taste reminiscent of meat and fostering opportunities for market growth. The rising demand for turmeric, marketed as Curcuma in developed regions like Europe, further supports the positive trajectory of the spices and seasonings market.

Consumers are increasingly health and sustainability-conscious, actively seeking natural and healthier alternatives, including spices and seasonings, while displaying a heightened interest in the origins and production processes of products. Developed countries are witnessing a surge in the adoption of sustainable sourcing practices, motivated by concerns regarding supply chain security, product quality, and the welfare of spice growers. The market for sustainably produced spices and herbs is expanding, with sustainability certifications gaining mainstream acceptance. In Europe, FLOCERT reported approximately 146 Fairtrade-certified companies in the herbs and spices sector in 2021. Moreover, the preference for healthful indulgence, offering both taste and beneficial traits like superior nutritional profiles and organic, non-GMO positioning, is anticipated to substantially propel spice and seasoning sales in both developed and developing markets.

Do you have any questions? Would you like to request a sample or make an inquiry before purchasing this report? Simply click the link belowhttps://www.polarismarketresearch.com/industry-analysis/spices-seasonings-market/request-for-sample

The pandemic has led to a market slowdown, impacted by diverse economic, political, and social shifts. This crisis has notably affected the global spices sector, extending from primary production hubs in developing nations to the wider global spice trade network. National governments' lockdown measures to curb the virus have triggered labor shortages due to workforce migration. The closure of borders in China and India contributed to reduced prices for specific spices, such as a 50% decline in cardamom prices in India and roughly a 10% drop in pepper prices in Vietnam in 2020.

Key market players experienced a moderate decline in revenue within their Spices and Seasonings segments in 2020. McCormick & Company Inc., among the largest global spice companies, reported a 3.5% sales reduction in its flavor solutions segment in 2020 compared to 2019. Decreased demand from restaurant and branded food service customers, influenced by the COVID-19 disruption, played a role in the sales decline. As the spice industry prepares to overcome post-coronavirus challenges, new opportunities, such as sustainable spices and improved food safety measures, are expected to surface, facilitating the industry's recovery.

Spices and Seasoning Market Report Highlights

• The Powder segment claimed the highest revenue share in 2023. Many foodservice establishments are integrating powdered spices to elevate the flavor, taste, and color of their prepared dishes. In a 2019 survey conducted by Kalsec, a prominent global provider of innovative spice and herb flavor extracts, over half of consumers expressed a preference for hot and spicy food options in their meals. Consequently, food processors, restaurants, hotels, cafes, and various others have adopted a diverse range of powdered spices and seasonings.
• The Spices segment secured the highest market share during the forecast period. Globalization has exposed people to a variety of flavors worldwide and increased awareness of the nutritional benefits linked to spices, driving heightened demand in the international market. The diverse capacity of spices to impart different flavors has significantly contributed to their rapid global growth. While turmeric, pepper, and cinnamon emerge as the most extensively consumed spices globally, other readily available options in the market include cloves, garlic, cardamom, ginger, chili, vanilla, and cumin seeds.
• In 2023, Asia Pacific emerged as the dominant market. The prevalent use of seasonings in this region is associated with the surge in disposable income, the establishment of various domestic spice and herb brands, and heightened marketing and promotional activities. Notably, key spice and herb-producing nations, including India, Vietnam, China, and Thailand, contribute to positioning the Asia Pacific as a major global exporter. Shifting global market trends and migration have prompted alterations in consumer food preferences, creating new prospects for foodservice outlets to incorporate a varied range of seasonings into their culinary offerings.
• The global key market players include Ajinomoto Co, Inc., ARIAKE JAPAN CO, LTD., Associated British Foods plc, Baria Pepper, Bart Ingredients, Dohler Group, DS Group, Everest Spices, Kerry, and McCormick & Company, Inc.

Polaris Market Research has segmented the Spices and Seasoning market report based on form, product, distribution channel, and region:

Spices and Seasoning, Form Outlook (Revenue - USD Billion, 2019 - 2032)

• Powder
• Whole
• Crushed

Spices and Seasoning, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Herbs
  • Rosemary
  • Garlic
  • Parsley
  • Oregano
  • Fennel
  • Mint
  • Others
• Salt & Salt Substitutes
• Spices
  • Cumin
  • Cardamom
  • Ginger
  • Pepper
  • Cloves
  • Turmeric
  • Coriander
  • Cinnamon

Spices and Seasoning, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Retail
• Foodservice

Spices and Seasoning, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Spices and Seasoning Market Report Scope