Spices and Seasonings Market size is $2.29Bn in 2019, growing at a CAGR of 5.5% during the forecast period 2020-2025. Spices are used for enhancing the flavor of food by adding ingredients such as herbs, spices, garlic or ginger, chili flakes, salt,and others. Seasoning food requires the addition of salt asit draws out moisture and intensifies flavors.Spices are obtained from the leaves, flowers and stems of various plants, and others for flavoring, coloring,and preserving food products. Seasoningis a combination of herbs, salt, and others which are added during the preparation of food to enhance its flavor and taste, spices and seasonings offer health benefits, such as improving memory and boosting immunity. Italian seasoning, poultry seasoning,and others are different types of seasoning used for cuisine flavorings.
By Application- Segment Analysis
In 2019,Meat & Poultry Products segment dominated the Spices and Seasonings Market in terms of revenue is estimated to grow at a CAGR of 4.8% during the forecast period 2020-2025. The manufacturing of traditional meat products, developing and manufacturing products with fresh quality and innovative ingredients to meet diverse requirements of customers. The preservatives help in controlling the growth of microbes in the meat, it also improves its nutritional contents.
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Geography – Segment Analysis
In 2019, the Asia-Pacific region dominated Spices and Seasonings Market in terms of revenue with a market share of 42%.This can be attributed to the increase in the production of spices in different countries in the region, favourable environmental conditions for spice plantation, and supportive government policies toward increasing the spice production. Inclination towards Asian Cuisine which include more spices in the diet has also fueled the market.Europe is estimated to record the fasted growth rate during the forecast period 2020-2025.
Drivers – Spices and Seasonings Market
• Increased use of spices and seasonings
The increased consumer awareness about these negative impacts of chemical preservatives has led to an increase in the demand for natural preservation, which includes spices for meat &poultry products. The nutritional benefits of various spices have helped in the growth of the market. A growing trend of incorporating spices into ready-to-eat and ready-to-drink foods and beverages aided growth to the market.
Challenges – Spices and Seasonings Market
• Contamination of spices
The adulteration / contamination of spices is restraining the market’s growth as it is the mixing of inferior and sometimes harmful quality substances with food or drink intended to be sold. It is very harmful for people suffering from diabetes or blood pressure as the food or drink becomes impure and unfit for human consumption.
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Spices and Seasonings Industry Outlook
Product Launches was the key strategy of the players in the Spices and Seasonings Industry. Spices and Seasonings top 10companies include Ajinomoto Co., AVT McCormick Ingredients Ltd, British Pepper & Spice Co, B&G Foods, Global Spices Inc, Griffith Laboratories Worldwide, Malabar Super Spice Co, The Nutmeg Spice Co, Vallabhdas Kanji Limited andACH Food Companies,
In October 2020,ACH Food Companies, Inc., a manufacturer of cooking and baking products, acquired Anthony’s Goods, a digital brand. This acquisition helped in increasing consumer demands for high quality natural and organic options.
• Increasing use of various seasonings and spices by individuals from different cultural background is set to propel the growth of the market.
• Increase in the consumption of meat and poultry products by the consumers promotes the Spices andSeasonings Market.
• Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
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