Global Spices and Seasonings Market
The global Spices and Seasonings market was valued at USD 12.08 billion in 2016 and is projected to reach USD 18.73 billion by 2025, growing at a CAGR of 5.0% from 2017 to 2025.
The packaged food category is the major consumer of spices and seasonings. These product not only add flavor to the products but also play a major role in improving shelf life of products. The changing lifestyles and eating habits is expected to boost the demand for spices and seasonings.
1. Market Drivers
1.1 Growing demand for convenience foods
1.2 Rising usage of spices in preservation of meat products
2. Market Restraints
2.1 Adulteration of spices
2.2 Products are prone to microbial contamination
The global Spices and Seasonings market is segmented on the type, application, and region.
1. By Type:
1.9 Mace and Nutmeg
2. By Application:
2.2 Frozen Products
2.3 Dressings, Sauces and Soups
2.4 Poultry and Meat Products
2.5 Convenience Foods and Snacks
2.6 Confectionery and Bakery
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. SHS Group
2. Olam International
3. Mccormick and Company
4. Kerry Group PLC
5. Worlee Group
6. Sensient Technologies
7. Ariake Japan Co. Ltd.
8. Dohler Group
9. Ajinomoto Co. Inc.
10. Associated British Foods PLC
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Spices and Seasonings market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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