Analysis of the industry focusing on global and regional markets, major manufacturers, as well as market classification by products and applications. Detailed analysis of the industry chain providing the up and down stream industry along with the major market players and the analysis on manufacturing including process, cost structure and major plants distribution. It analyzes the key market information like capacity, production, capacity utilization rate, price, revenue, cost, gross margin, supply, import, export, consumption, market share, growth rate etc.
The report portrays the market forecast for global and regional market and an informative study on the new project investment feasibility along with provision of the conclusions and related recommendations on the research basis. Medicinal advantages of the variety of best spices present in the market are also supported by scientific evidences that have gradually accelerated the consumer’s interests in these products. The spices are even used as substitutes for various beauty products and medicines since they have antioxidant properties and antiseptic qualities. For example, turmeric is rich in antioxidants and helps in fighting against diseases such as Alzheimer’s, cancer, and joint inflammation as well as black pepper powder is used to cure stomach upset, bronchitis, and cancer.
Rising advertising campaigns have been carried out for promotion of spices and seasonings and the changing consumer tastes and preferences have further augmented the rate of revenue generation in the global spices and seasonings market.
The spices and seasonings market is highly diversified and competitive as there is the presence of a large number of regional and international vendors across the globe. The salt and salt substitutes segment in this market has accounted for the major market share during 2021 and to continue leading the market in the future years. The major factor responsible for this growth is viewed to be the broadening usage of salt substitutes by health-conscious population especially by people with diabetes and high blood pressure.
America has reckoned for the majority market share and to continue dominating the market in the coming years. Some of the key reasons responsible for the market’s growth in the region include
•The growing demand for fair trade labeled organic spices products,
•High import rate, and
•The availability of high quality products
On a whole, the global spices and seasonings market is projected to evolve at a stable rate registering a CAGR of more than 5% in the future years and the growing awareness of the medical benefits of spices is seen as the main factor that will lead to the growth prospects for the market in the years to proceed.
Companies Covered
Mccormick & Company, Olam International, Ajinomoto Co., Inc., Associated British Foods PLC, Kerry Group PLC, Ariake Japan Co., Ltd., Sensient Technologies, Dohler Group, SHS Group, Worlee Gruppe