The Organic Spices Market size is forecast to reach $17.24 billion by 2025, growing at a CAGR of 6.7% during the forecast period 2020-2025. Organic spices are the natural species, that is, it does not contain the type of additives or artificial chemical. It should ideally be grown in a fully natural or wild environment, without the use of artificial pesticides. The rise in the number of health-conscious consumers and an increase in awareness regarding the health benefits associated with the consumption of organic species are the major factors driving the growth of the market. The rise in preferences for organic products is set to further enhance the overall market demand for the Organic Spices Market during the forecast period 2020-2025.
Organic Spices Market Product- Segment Analysis
The Turmeric segment held the largest share in the Organic Spices Market in 2019 and is estimated to grow at a CAGR of 7.3% during the forecast period 2020-2025. Turmeric (Curcuma longa) is a subspecies of the Curcuma genus from the family of Zingiberaceae and is produced from pure turmeric rhizomes and is packed with curcumin, a strong antioxidant with powerful anti-inflammatory properties. It supports joint health, a strong digestive system, and natural healing. Consumers prefer organic turmeric more than conventional turmeric owing to the rising awareness about the benefits of consuming organic foodstuffs. This awareness mainly exists owing to the cultivation of turmeric plants without the use of pesticides, insecticides, and other harmful chemicals. Turmeric is used in Ayurvedic and Unami medicine to treat conditions such as inflammation, ulcers, diabetes, diarrhea, liver disease as well as various skin conditions including insect bites, chickenpox, and itching. Many of its traditional uses are supported by scientific evidence. The large-scale application of turmeric as a preservative or coloring agent in various cuisines is one of the key factors that drive significant demand for the product in the global market. Turmeric is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025 owing to the enduring demand from both households as well as commercial sectors.
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Organic Spices Market Form- Segment Analysis
The Powder segment held the largest share in the Organic Spices Market in 2019. The powder form is the most convenient way of using organic spices in the preparation of different food products. As a result, most of the spices manufacturers strategize on availing organic spices in powder forms. High demand for ready to use products, owing to the rise in hectic lifestyle anticipated to further drive the demand. Powdered spices are stronger than crumbled spices since the flavoring chemicals can mix with the food easier. The Powder is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.
Organic Spices Market Geography – Segment Analysis
North America dominated the Organic Spices Market in 2019 with a share of more than 34.6%, followed by the Asia Pacific owing to increasing health-conscious consumers. Continuous product evolution from the manufacturer’s side is also increasing the growth of the organic spices market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the higher rate of consumption for these spices with the rise in demand and preference for spicy food.
Organic Spices Market Drivers
The rise in the number of health-conscious consumers and an increase in awareness regarding the health benefits associated with the consumption of organic species
The rise in the number of health-conscious consumers and an increase in awareness regarding the health benefits associated with the consumption of organic species is increasing the growth of the Organic Spices market. Organic spices have been used for medicinal, culinary, and aromatic purposes. Spices enhance the taste of food and provide aroma, color, and texture. Modern scientific research also supports the efficacy of many traditional spices and herbal remedies handed down to us as folk medicine, so we appreciate spices for their many therapeutic health-enhancing benefits as well. Every spice has its flavoring and essence, and its addition or omission can make or break a dish. There are many organic spices we use in our day to day cooking, these include popular ones like cumin, black pepper, turmeric, and coriander seeds. Thus, increasing the growth of the organic spices during the forecast period 2020-2025.
The rise in preferences for organic products
The rise in preferences for organic products is increasing the growth of the Organic Spices market. Organic spices contain no chemical pesticides and fertilizers and are grown naturally with the help of manure or compost. It does not contain growth hormones or antibiotic residues, which therefore do not threaten a child’s future. Shifting to organic food can be a little expensive but it is definitely worth the price after we realize its benefits. Spices by themselves have countless health benefits, apart from adding flavor and color to our food. Without any foreign substances interfering and affecting the nutritional composition of organic spices, antioxidants tend to have a greater impact if they come from organic spices as compared to normal spices. Since spices are fertilized with organic manure and biofertilizers while they are grown organically, their nutrient content is high. Also as no chemicals affect its chemical composition, organically cultivated spices have a fresher flavor and aroma. Apart from these health benefits, organically cultivated foods prevent the soil, water bodies, and the water table from contamination. Thus, increasing the growth of the organic spices during the forecast period 2020-2025.
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Organic Spices Market Challenges
Higher price margin and varying trade regulations of importing countries along with the higher production cost
Some of the factors that is set to impede the growth of the Organic Spices Market are higher price margin and varying trade regulations of importing countries along with the higher production cost.
Organic Spices Market Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Organic Spices Market. In 2019, the Organic Spices Market share is consolidated by the top ten players present in the market. Organic Spices Market, the top 10 companies are McCormick & Company, Organic Spices Inc., Unilever, S&B Foods, DS Group, Monterey Bay Spices Co., UK Blending LTD, The Watkins Co., Daarnhouwer & Co, SunOpta Inc, Spice Chain Corporation, and Husarich GmbH among others.
In September 2017, McCormick McCormick extended its portfolio of spices and organic herbs in the U.K. and France and also increased the adoption of authentic flavors and authentic food preparation methods, especially for traditional staples.
North America dominated the Organic Spices Market in 2019 owing to the continuous product evolution from the manufacturer’s side and growing demand for organic spices over conventional spices as part of a healthy diet among the health-conscious population. The Organic Spices Market scope for different regions will be provided in the final report.
High demand for organic and natural food ingredients among the population and surge in the proportion of health-conscious customers along with the growing awareness regarding health advantages pertaining to the intake of organic spices is likely to aid in the market growth of the Organic Spices Market.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Organic Spices Market report.
Higher price margin and varying trade regulations of importing countries along with the higher production cost are set to create hurdles for the Organic Spices Market.
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