Global Spices and Seasonings Market Research Report: Forecast (2023-2028)

Market Definition

Seasonings & spices are derived from different flowers, barks, fruits, buds, seeds, leaves, roots, & plant tops and are used most commonly in various food & beverages for enhanced flavor, aroma, color, & taste. The world is witnessing the accelerating use of spices & herbal extracts in traditional treatments owing to their anti-inflammatory properties, i.e., promoting the overall industry growth.

Market Insights & Analysis: Global Spices and Seasonings Market (2023-28)

The Global Spices and Seasonings Market is expected to grow at a CAGR of around 5.1% during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly by the paradigm shift in consumer taste preferences, mounting popularity of ethnic cuisines, as well as globalization, i.e., portraying the increasing penetration of indigenous spices & seasoning products worldwide. Besides, the ever-growing utilization of spices & seasonings to produce various processed foods & bottled beverages, the mounting acceptance of convenience & RTE (Ready-to-Eat) food products, and the surging demand for spices & seasonings as preservatives & antibacterial agents to increase the shelf-life of various fermented foods & beverages are other prominent aspects projected to drive the market in the future.

More & more consumers are showing greater interest in trying new cuisines & flavor-packed dishes prepared with different spices and seasonings, which are also used as natural preservatives to limit microbial activity and preserve the quality of meat & poultry products. The rapid rise in health consciousness among consumers, especially after the Covid-19 pandemic, has also boded well for the overall market expansion, as spices & seasonings are high in antioxidants and exhibit medicinal properties that aid in the treatment of a variety of ailments. For instance, Turmeric is used extensively for boosting immunity against joint inflammation, Alzheimer's disease, & cancer.

Furthermore, the rising consumption of healthy herbal teas to soothe nerves and enhance metabolism & digestion and the incorporation of spices like ginger & turmeric in nutraceutical & dietary supplements by manufacturers, coupled with the active participation of industry participants in manufacturing premium quality spice blends with enhanced aroma & flavor to cater to the growing demand for exotic dishes, are also projected to spur growth in the global spices and seasonings market through 2028.

Global Spices and Seasonings Market Key Driver:

Rapidly Changing Eating Habits due to Increasing Urbanization - Improving economies & income levels and urbanization trends have brought significant changes in the dietary patterns of people, as they are increasingly incorporating traditional food items in their diets. Moreover, reduced cooking time due to hectic work schedules & long working hours has led people to opt for easy & convenient food options. In addition, the rapidly expanding supermarkets & hypermarkets in urban areas are also leading to the increasing availability of spices worldwide. Hence, these trends are expected to drive the Global Spices and Seasonings Market through 2028.

Global Spices and Seasonings Market Growth Restraint:

Adverse Effects of Excessive Spice Consumption - Excessive spice consumption has proved to bring several negative effects on human health, majorly digestive issues like heartburn or acid reflux, i.e., produced by spicy meals containing capsaicin that slows digestion rate and increases the chances of heartburn. Another digestive problem induced by spicy foods is stomach or intestinal inflammation, which might result in a laxative effect or nausea, vomiting, & fullness in one’s upper abdomen. Hence, the harmful effects of excessive spice consumption are likely to hamper the growth of the Global Spices and Seasonings Market through 2028.

Global Spices and Seasonings Market (2023-28): Segmentation Analysis

The Global Spices and Seasonings Market study of MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2023–2028 at the global, regional, and national levels. Based on the Type, and Form the market has been further classified as:

Based on Type:

• Pepper
• Chili
• Ginger
• Cinnamon
• Turmeric
• Nutmeg and Mace
• Cardamom
• Cloves
• Others (Capsicum, Coriander)

Of them all, ginger holds a prominent share of the Global Spices and Seasonings Market. It owes to its excessive consumption in cooking in numerous forms, such as immature ginger, mature fresh ginger, dry ginger, ginger oil, ginger oleoresin, dry soluble ginger, ginger paste, and ginger emulsion. Ginger is a universal spice, with its most prominent use in China, and a popular home remedy for nausea, stomach pain, & other health issues, owing to antioxidants & nutrients present in it that help prevent or treat arthritis, inflammation, and various types of infection.

Moreover, dried ginger is witnessing rapidly increasing demand, especially across the Netherlands, the United Kingdom, & Germany, owing to massive import volumes of ginger in these countries. In addition, Italy & Spain are also showing promising opportunities for exporters due to their sizeable markets, as well as an elevated share of direct imports from ginger producers. Hence, these aspects are projected to drive the demand for ginger and contribute to the overall growth of the Global Spices & Seasonings Market.

Based on Form:

• Whole
• Powder

Of both, the powder form of spices & seasonings holds a notable market share. Several food service outlets worldwide are increasingly adopting powdered spices to enhance the flavor, taste, & color of prepared foods. A large number of consumers globally prefer hot & spicy meals, which is why several restaurants, hotels, & cafes are using numerous powdered spices & seasonings in their offerings. In addition, chili powder is witnessing excessive demand, especially in meat-consuming countries across Asia-Pacific, as professionals can extract oil & oleoresin from chilies and then turn them into powdered spices. Hence, these trends are driving the adoption of powdered spices & seasonings and stimulating overall market growth.

On the other hand, whole seasonings & spices are projected to witness rapidly growing demand globally and contribute notably to the market growth through 2028. It owes to their increasing incorporation into diets to enhance the aroma & flavor of meals & dishes. Whole spices are used widely in main dishes, entrées, dips, sauces & condiments, and snacks. An increasing number of people are showing greater interest in spicy desserts & beverages that contain whole spices or seasonings like mint, ginger, rosemary, clove, & parsley, i.e., accelerating their adoption and propelling the overall market growth.

Global Spices and Seasonings Market Regional Projection

Geographically, the Global Spices and Seasonings Market expands across:

• North America
• South America
• Asia-Pacific
• Europe
• Middle East & Africa

Of all regions globally, Asia-Pacific is anticipated to make significant contributions to the expansion of the Spices and Seasonings Market during 2023-28. It owes to the rapidly expanding food processing industries, especially in India, China, & Vietnam, which are among the largest consumers & producers of spices worldwide, coupled with the changing eating habits owing to rising income levels & urbanization and the increasing consumer interest in traditional dishes.

More & more people are becoming aware of the medicinal benefits of spices as well as the consequences of chemicals & additives in food & beverages, owing to which organic spices are gaining traction across Asia-Pacific, and manufacturers are introducing herbs free of pesticides & other harmful chemicals. In addition, the mounting demand for Italian & French foods is also contributing to the significantly expanding market for spices & seasonings across the region.

Moreover, the growing middle-class population, ever-increased use of spices as natural preservatives, the burgeoning demand for healthy & nutrition-rich foods from the health-conscious population, and increasing imports of whole seasonings & spices in Japan are other prominent aspects projected to drive the Asia-Pacific Spices and Seasonings Market through 2028.

Global Spices and Seasonings Industry Recent Developments 

• In June 2021, Kerry Group PLC announced the opening of its new taste factory in Irapuato, Mexico, which will serve mainly Central America, the Caribbean, Mexico, & the Andean region. This new facility will significantly expand Kerry's capabilities across the region and assist customers in providing locally flavored & sustainable solutions.
• The same year in February, the leader announced the acquisition of Jining Nature Group, a leading manufacturer of savory flavors & seasonings in China, which shall bring a wide range of authentic local & regional taste technologies and application capabilities to Kerry's portfolio. 
• In May 2021, Olam Food Ingredients completed the acquisition of Olde Thompson, a leading private-label spices & seasonings manufacturer in the US.
• The same year in March, Sensient Natural Ingredients LLC (SNI) completed the acquisition of New Mexico Chili Products Inc., a dehydrated chili production facility in Deming, New Mexico, which processes capsicums and various specialty chilies for CPG food manufacturers, spice blenders, & foodservice customers.

Gain a Competitive Edge with Our Global Spices and Seasonings Market Report

1. Global Spices and Seasonings Market report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics and make informed decisions.
2. This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecasts, companies can align their strategies and stay ahead of the competition.
3. Global Spices and Seasonings Market report aids in assessing and mitigating risks associated with entering or operating in the market.
4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.