Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the Spices Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the Spices Market?
The market size of spices has witnessed steady growth in the past years. It is expected to expand from $1.42 billion in 2024 to $1.48 billion in 2025 with a compound annual growth rate (CAGR) of 4.4%.
What Is the Forecasted CAGR for the Spices Market by 2029?
The Spices Global Market is expected to reach a market size of $1.91 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.6%.
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What Are the Market Drivers in the Spices Industry?
The key drivers in the spices market are:
• Increased consumer preference for clean labels and natural products
• Rising trend of plant-based and vegetarian diets
• Influence of e-commerce and direct-to-consumer models
• Growing emphasis on health-conscious choices and ethnic fusion cuisine
What Is the Segment-Wise Breakdown of the Spices Market?
The spicesmarket covered in this report is segmented –
1) By Type: Garlic, Ginger, Turmeric, Cumin, Cinnamon, Pepper, Other Types
2) By Form: Raw, Powder, Other Form
3) By Category: Organic, Conventional
4) By Application: Bakery And Confectionary Products, Meat And Poultry Products, Frozen Food, Soups, Sauces, Dressings, Other Applications
5) By End User: Food Retail, Food Service, Food Processing
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Which Emerging Trends Are Driving Growth in the Spices Sector?
The key trends in the spices market are:
• There's a rising demand for organic and sustainably-sourced spices.
• Consumers are seeking innovative spice blends and flavors.
• The focus on health and wellness is influencing the spices market.
• The implementation of clear labelling and transparency is shaping the future of the industry.
Which Companies Are Dominating the Spices Market in Terms of Revenue?
Major players in the spices market are:
• Ajinomoto Co. Inc.
• Associated British Foods Plc
• BARIA PEPPER
• Kerry Group Plc
• The Bart Ingredients Co. Ltd.
• Dharampal Satyapal Group
• Everest Food Products Pvt. Ltd.
• Dohler Group
• McCormick & Company Inc.
• Frontier Co-op
• Colorado Spice Company
• Watkins Incorporated
• Organic Tattva LLP
• Organic Spices Inc.
• Sauer Brands Inc.
• B&G Foods Inc.
• Terana S.A.
• Unilever plc
• ARIAKE JAPAN Co.Ltd.
• OLAM INTERNATIONAL LIMITED
• Mahashian Di Hatti Limited
• Mishra store MDH Spices
• Kikkoman Corporation
• Cargill Incorporated
• Baron Spices Inc.
• Slofoodgroup
• All Seasonings Ingredients Inc.
• Newly Weds Foods Inc.
• Essence Food & Beverage LLC
• Badia Spices Inc.
What Are the Regions Driving Demand in the Spices Market?
Asia-Pacific was the largest region in the spices market in 2024
