(Entertainment-NewsWire.com, December 06, 2021 ) The global spices and seasonings market is expected to grow from USD 21.3 billion in 2021 to USD 27.4 billion by 2026, at a CAGR of 5.2% from 2021 to 2026. Globally, the spices & seasonings market is driven by the growing demand for convenience food products, clean label trends, and natural preservatives for the meat industry. However, the growing incidences of adulteration and contamination in the spices exported from developing countries such as India and China are prompting regulatory bodies in Europe and America to strengthen the safety regulations on imported spices and seasonings. Growth in food product innovations to incorporate natural ingredients, increase in demand for health and wellness products, and rise in demand for ethnic and authentic food products are emerging opportunities for the spices & seasonings market.
Different spices and seasonings such as pepper, cinnamon, cardamom, cumin, turmeric, and capsicum are applied to meatloaves, sausages, salamis, and other processed meat & poultry food products. Both fresh and frozen meats can be spiced and marinated before storage. All these factors have resulted in the high use of spices in the preparation of meat products. Hence, resulting in a high market share. Seasonings are indispensable for the manufacture of processed meat products and in the preparation of any meat recipes. Most spices used with meat are milled or ground. Common seasonings include black pepper, white pepper, cardamom, chilis, paprika, mace, ginger, garlic, cloves, cinnamon, and coriander, to give meat products distinctive flavors. Commercial meat processing plants use spice extracts in place of natural spices. Seasonings and spices used for sausage making are usually fresh as most consumers prefer the taste of freshly made food that often comes from spices. Spices such as garlic, pepper, and chili play a crucial role in the antioxidant and natural preservatives in fermented meat products.
On the basis of nature, the global spices and seasonings market is segmented into organic and conventional. Among the two, the conventional segment accounts for a higher value share owing to its easy availability at affordable prices for its target customers. However, during the forecast period, the organic format of spices and seasonings is expected to gain a higher level of traction, registering a significant growth rate in terms of sales.
Asia Pacific is the dominant region in the global spices & seasonings market. Major countries contributing significantly towards the growth of the region include China, India, Japan, Australia, and New Zealand. The rapidly growing fast food industry and young demography in the Asia Pacific region have led to an increase in the consumption of packaged, frozen, and convenience food, which is in turn expected to enhance the growth of the market for spices and seasonings.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies operating in the spices and seasonings market. It consists of the profiles of leading companies such as the major spices and seasonings manufacturers include McCormick & Company, Inc. (US), Olam International (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (UK), Kerry Group plc (Ireland), Sensient Technologies Corporation (US), Döhler Group (Germany), SHS Group (Ireland), and Worlée Gruppe (Germany). These players have focused on acquisitions to gain a larger market share in the spices & seasonings market.
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