What Has Been the Growth Trajectory of the Spices Market?
The spices market has seen considerable growth due to a variety of factors.
• The size of the spice market has seen considerable growth in the past few years. The market is predicted to rise from a worth of $1.48 billion in 2024 to $1.56 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. Factors contributing to this growth throughout the historical period include emerging culinary diversity and globalization, cultural importance, a spike in ethnic food consumption, urban development and changing life patterns, as well as innovations in food processing methods.
What Is The Expected Growth In The Spices Market?
The Spices market is expected to maintain its strong growth trajectory in upcoming years.
• In the forthcoming years, the spice market size is projected to witness significant growth. It is expected to rise to $2.04 billion by 2029, with a compound annual growth rate (CAGR) of 6.9%.
The surge within the predicted timeframe can be credited to factors such as a preference for clean-label and natural products, the popularity of plant-based and vegetarian diets, the rise of e-commerce and direct-to-customer models, health-conscious consumer decisions, as well as regional and ethnic fusion cooking. Key trends for the forecast period encompass an increased demand for organic and sustainable spices, inventive spice combinations and flavours, an emphasis on health and wellness, clean labels and transparency, and spices suited for plant-based and ethnic cuisines.
What Main Forces Are Fueling Expansion In The Spices Market?
The spike in organic food needs is predicted to stimulate the spice market's expansion in the future. Organic food, which is made without synthetic chemicals or genetically modified ingredients, is sought after because it is perceived as healthier and beneficial to the immune system. Meanwhile, the consumption of organic food is consistently on the rise, creating a demand for herbs, spices, and seasonings. For instance, in a report published by the Organic Trade Association, a US-based business group, in May 2023, it was revealed that for the first time in 2022, organic food sales in the United States had topped $60 billion. Inclusive of both organic food and non-food items, total organic sales hit an all-time high of $67.6 billion. Moreover, organic produce sales accounted for 15 percent of total fruit and vegetable sales in the country, totaling $22 billion. Consequently, the burgeoning demand for organic food is propelling the spice market's growth.
What Are The Primary Segments In The Global Spices Market?
The spices market 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
Subsegments:
1) By Garlic: Fresh Garlic, Garlic Powder, Garlic Granules
2) By Ginger: Fresh Ginger, Dried Ginger, Ginger Powder
3) By Turmeric: Fresh Turmeric, Turmeric Powder, Turmeric Extract
4) By Cumin: Whole Cumin Seeds, Ground Cumin
5) By Cinnamon: Ceylon Cinnamon, Cassia Cinnamon, Ground Cinnamon
6) By Pepper: Black Pepper, White Pepper, Green Pepper, Peppercorns
7) By Other Types: Oregano, Basil, Thyme, Coriander, Nutmeg
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Which Key Trends Are Driving Changes In The Spices Market?
In the spice sector, product novelty is emerging as a key trend. Businesses active in this market are putting their resources into product innovation to enhance their market stance. For instance, Lifespice India Private Limited, an Indian company specializing in health care, garam masala, and snack foods, in November 2022, debuted the country's foremost scientific Spice Mixes. These mixes consist of 15 raw ingredients, omitting onions, ginger, garlic, or any other vegetables. The product is manufactured in a fully automated environment, without any human contact or interaction. These combined recipes are ground to a fineness of 600 microns and packed in Vacuum sealed Food grade PET jars.
Who Are the Key Players In The Spices Market?
Major companies operating in the spices market include:
• 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 Is The Most Dominant Region In The Spices Market?
Asia-Pacific was the largest region in the spices market in 2024. North America is expected to be the fastest-growing region in the spices market report during the forecast period. The regions covered in the spices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
