Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices, Herbs, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel

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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 a new market 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' by Meticulous Research(R), the spices & seasonings market is projected to reach $30.35 billion by 2031, at a CAGR of 5.3% from 2024 to 2031. The report provides an in-depth analysis of the spices & seasonings market across five major geographies, current market trends, size, and recent developments, and the forecast for 2031.

Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends. The growth of the spices & seasonings market is primarily 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

The key players operating in the spices & seasonings market are McCormick & Company, Inc. (U.S.), Kerry Group plc (Ireland), Dohler 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.).

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.

However, the herbs segment is projected to register the highest CAGR during the forecast period of 2024-2031. This segment's growth is driven by the rising popularity of international cuisines and increasing health & wellness and sustainability trends. Herbs like oregano, parsley, basil, thyme, mint, and fennel are especially popular due to their versatility and health benefits, making them an attractive option for food manufacturers looking to cater to health-conscious consumers.

Based on category, the spices & seasonings market is segmented into conventional and organic. In 2024, the conventional segment is expected to account for the larger share of the spices & seasonings market. This segment's large market share can be attributed to the wide availability of conventional spice & seasoning products, their cost-effectiveness, and longer shelf life compared to organic alternatives.

However, 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 & 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. In 2024, the food service segment is expected to account for the larger share of the spices & seasonings market. This segment's large market share can be attributed to the increasing demand for spices and seasonings from hotels, restaurants, and cafes. Moreover, the expanding number of food service outlets and the growing popularity of exotic dishes contribute to the significant market share of this segment.

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. In 2024, Asia-Pacific is expected to account for the largest share of 36.4% of the spices & seasonings market, followed by North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's significant market share can be attributed to factors such as the growth in the processed food industry, the increasing adoption of Western cuisines, rising disposable incomes, evolving consumer lifestyles, diverse culinary traditions, rapid urbanization & industrialization, and the growing demand for innovative spice and seasoning blends.

However, the market in Europe is projected to register the highest CAGR during the forecast period. 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.

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?

Scope of the Report:

Spices & Seasonings Market Assessment-by Product Type

Spices
Pepper
Cardamom
Cinnamon
Ginger
Cloves
Nutmeg & Mace
Turmeric
Coriander
Cumin
Chili
Other Spices
Herbs
Oregano
Basil
Thyme
Parsley
Mint
Rosemary
Fennel
Other Herbs
Salt & Salt Substitutes

Spices & Seasonings Market Assessment-by Category

Conventional
Organic

Spices & Seasonings Market Assessment-by Form

Powder
Crushed
Whole

Spices & Seasonings Market Assessment-by Distribution Channel

Food Service
Retail

Spices & Seasonings Market Assessment-by Geography

North America
U.S.
Canada
Europe
Germany
France
U.K.
Spain
Italy
Netherlands
Russia
Poland
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
South Korea
Thailand
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
South Africa
United Arab Emirates
Rest of Middle East & Africa

Product Code: MRFB - 1041254

1. Introduction

1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders

2. Research Methodology

2.1. Research Approach
2.2. Process of Data Collection and Validation
- 2.2.1. Secondary Research
- 2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecast
- 2.3.1. Market Size Estimation Approach
- 2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study

3. Executive Summary

3.1. Overview
3.2. Segmental Analysis
- 3.2.1. Spices & Seasonings Market Analysis: by Product Type
- 3.2.2. Spices & Seasonings Market Analysis: by Category
- 3.2.3. Spices & Seasonings Market Analysis: by Form
- 3.2.4. Spices & Seasonings Market Analysis: by Distribution Channel
3.3. Regional Analysis
3.4. Market Competitors & Competitive Landscape

4. Market Insights

4.1. Overview
4.2. Drivers
- 4.2.1. Increasing Demand for Convenience Foods
- 4.2.2. Rise in Vegetarianism and Veganism
- 4.2.3. Rising Demand for Spicy Food Products
4.3. Restraints
- 4.3.1. Proliferation of Counterfeit Spice Products
4.4. Opportunities
- 4.4.1. Increasing Focus on Health and Wellness
- 4.4.2. Growing Demand for Organic Spices & Seasonings
4.5. Key Trends
- 4.5.1. Increasing Popularity of Ethnic & Exotic Flavors
4.6. Porter's Five Forces Analysis
- 4.6.1. Bargaining Power of Suppliers
- 4.6.2. Bargaining Power of Buyers
- 4.6.3. Threat of Substitutes
- 4.6.4. Threat of New Entrants
- 4.6.5. Degree of Competition
4.7. Pricing Analysis

5. Spices & Seasonings Market Assessment-by Product Type

5.1. Overview
5.2. Spices
- 5.2.1. Pepper
- 5.2.2. Cardamom
- 5.2.3. Cinnamon
- 5.2.4. Ginger
- 5.2.5. Cloves
- 5.2.6. Nutmeg & Mace
- 5.2.7. Turmeric
- 5.2.8. Coriander
- 5.2.9. Cumin
- 5.2.10. Chili
- 5.2.11. Other Spices
5.3. Herbs
- 5.3.1. Oregano
- 5.3.2. Basil
- 5.3.3. Thyme
- 5.3.4. Parsley
- 5.3.5. Mint
- 5.3.6. Rosemary
- 5.3.7. Fennel
- 5.3.8. Other Herbs
5.4. Salt & Salt Substitutes

6. Spices & Seasonings Market Assessment-by Category

6.1. Overview
6.2. Conventional
6.3. Organic

7. Spices & Seasonings Market Assessment-by Form

7.1. Overview
7.2. Whole
7.3. Crushed
7.4. Powder

8. Spices & Seasonings Market Assessment-by Distribution Channel

8.1. Overview
8.2. Food Service
8.3. Retail

9. Spices & Seasonings Market Assessment-by Geography

9.1. Overview
9.2. North America
- 9.2.1 U.S.
- 9.2.2. Canada
9.3. Europe
- 9.3.1. Germany
- 9.3.2. France
- 9.3.3. U.K.
- 9.3.4. Italy
- 9.3.5. Spain
- 9.3.6. Netherlands
- 9.3.7. Russia
- 9.3.8. Poland
- 9.3.9. Rest of Europe
9.4. Asia-Pacific
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. India
- 9.4.4. Australia
- 9.4.5. South Korea
- 9.4.6. Thailand
- 9.4.7. Rest of Asia-Pacific
9.5. Latin America
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Argentina
- 9.5.4. Rest of Latin America
9.6. Middle East & Africa
- 9.6.1. South Africa
- 9.6.2. United Arab Emirates
- 9.6.3. Rest of Middle East & Africa

10. Competition Analysis

10.1. Overview
10.2. Key Growth Strategies
10.3. Competitive Benchmarking
10.4. Competitive Dashboard
- 10.4.1. Industry Leaders
- 10.4.2. Market Differentiators
- 10.4.3. Vanguards
- 10.4.4. Emerging Companies

11. Company Profiles

11.1. McCormick & Company, Inc.
11.2. Kerry Group plc
11.3. Dohler Group
11.4. Ajinomoto Co., Inc.
11.5. Associated British Foods plc
11.6. ARIAKE JAPAN Co., Ltd.
11.7. Baron Spices Inc
11.8. SHS Group Limited
11.9. Watkins Incorporated
11.10. The Bart Ingredients Company
11.11. Frontier Cooperative

(Note: SWOT Analyses of the Top 5 Companies Will be Provided)

12. Appendix

12.1. Available Customization
12.2. Related Reports