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Spices and Seasoning Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMCG21250

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Published on

June 2021

Total pages

112

Table of Content

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About the Report

About the Report

SPICES AND SEASONINGS GIVE AROMA, COLOR, AND ENHANCES THE FLAVOR OF THE FOOD. DEPENDING ON VARIOUS TYPES OF CUISINES AND THE ORIGIN OF SPICES AND SEASONINGS, THEY ARE AVAILABLE IN DIFFERENT FORMS. DIFFERENT TYPES OF SPICES AND SEASONINGS SUCH AS GARLIC, PARSLEY, MINT, CARDAMOM, CORIANDER, CLOVES, GINGER, PEPPER, CINNAMON; ETC. GIVE DIFFERENT FLAVORS, AROMA, AND TASTE TO THE FOOD.

AN INCREASE IN PER CAPITA SPENDING OF CONSUMERS ON FOOD AND THE RISING POPULARITY OF EXOTIC CUISINES ARE THE SIGNIFICANT FACTORS DRIVING THE GROWTH OF THE GLOBAL SPICES AND SEASONINGS MARKET. IN NORTH AMERICA AND THE EUROPEAN REGION, JAPANESE RESTAURANTS HAVE OBSERVED SIGNIFICANT GROWTH BECAUSE OF THE UNIQUE FLAVOR OF THE CUISINE. FURTHERMORE, THE RISING CONSUMER AWARENESS ABOUT THE ILL EFFECTS LIKE HYPERACTIVITY IN KIDS, DAMAGE TO THE KIDNEY AND LIVER, FROM THE CHEMICAL FOOD PRESERVATIVES SUCH AS SODIUM BENZOATE, PROPIONIC ACID, AND BENZOIC ACID HAS INCREASED THE DEMAND FOR NATURAL PRESERVATIVES, WHICH INCLUDES SEVERAL SPICES. THIS TREND IS EXPECTED TO INCREASE THE DEMAND FOR SPICES AND SEASONINGS.

HOWEVER, SOME OF THE RESTRAINTS IN THE MARKET INCLUDE ADULTERATION IN THE QUALITY AND ITS AVAILABILITY. NOT ALL TYPES OF SPICES AND SEASONINGS ARE EASILY AVAILABLE WORLDWIDE, DUE TO THIS PRICES OF SUCH SPICES ARE HIGH IN MANY REGIONS. THIS FACTOR SOMETIMES PREVENT THE CONSUMERS FROM BUYING SUCH PRODUCTS.

BASED ON PRODUCT TYPE, THE MARKET IS FRAGMENTED INTO HERBS, SALTS & SALTS SUBSTITUTE, AND SPICES. THE HERBS SEGMENT IS FURTHER BIFURCATED INTO ROSEMARY, FENNEL, GARLIC, MINT, PARSLEY, OREGANO, AND OTHERS. THE SPICES ARE FURTHER SEGMENTED INTO PEPPER, GINGER, CINNAMON, CUMIN, TURMERIC, CARDAMOM, CORIANDER, CLOVES, AND OTHERS. THE SALT SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020. THE MARKET IS EXPECTED TO GROW AT A CAGR OF XX% DURING THE FORECAST PERIOD TO REACH A MARKET VALUATION OF USD XX MILLION BY 2027F OWING TO ITS CONSISTENT INCREASE IN DEMAND IN ALMOST ALL TYPES OF DISHES. FOR INSTANCE, AS PER STATISTA IN 2019, SALT CONSUMPTION IN CHINA WAS HIGHEST WITH 10.9 GM OF SALT PER PERSON IN A DAY, FOLLOWED BY ITALY WITH 9.7 GM AND INDIA WITH 9.7 GM OF SALT CONSUMED BY AN ADULT IN A DAY.

BASED ON THE APPLICATION, THE MARKET IS FRAGMENTED INTO BAKERY & CONFECTIONERY PRODUCTS, MEAT & POULTRY PRODUCTS, FROZEN FOOD, SOUPS, SAUCES & DRESSINGS, BEVERAGES, AND OTHERS. OWING TO THE SHIFT IN PREFERENCE OF CONSUMERS FOR THE ETHNIC FLAVORS AND DEMAND IMPROVEMENT IN THE QUALITY, THE MEAT & POULTRY SEGMENT GRABBED THE MAJOR MARKET AND DOMINATED THE MARKET. THE MEAT & POULTRY SEGMENT GENERATED REVENUE OF USD XX MILLION IN 2020. FOR INSTANCE, GARLIC, PEPPER, AND GINGER ARE ADDED TO MEAT PRODUCTS TO ENHANCE THEIR TASTE AND AROMA.

FOR A BETTER UNDERSTANDING OF THE MARKET ADOPTION OF THE CONCENTRATED FRUIT JUICE, THE MARKET IS ANALYZED BASED ON ITS WORLDWIDE PRESENCE IN THE COUNTRIES SUCH AS NORTH AMERICA (UNITED STATES, CANADA, AND THE REST OF NORTH AMERICA), EUROPE (GERMANY, FRANCE, ITALY, SPAIN, UNITED KINGDOM AND REST OF EUROPE), ASIA-PACIFIC (CHINA, JAPAN, INDIA, AUSTRALIA AND REST OF APAC), AND REST OF WORLD. ASIA PACIFIC CONSTITUTES A MAJOR MARKET FOR THE SPICES AND SEASONINGS INDUSTRY. CONSUMERS IN THE REGIONS INCORPORATE SPICES AND SEASONINGS EXTENSIVELY IN THEIR DAILY MEALS, ASIANS HAVE BEEN USING DIFFERENT SPICES AND SEASONINGS IN THEIR CUISINES AS FLAVOR ENHANCERS AND, ALSO FOR THEIR MEDICINAL PROPERTIES FOR DECADES. OWING TO THIS ASIA PACIFIC GENERATED REVENUE OF USD XX MILLION IN 2020.

SOME OF THE MAJOR PLAYERS OPERATING IN THE MARKET INCLUDE EVEREST SPICES, KERRY GROUP, MDH, AJINOMOTO CO. INC., ARIAKE JAPAN CO., LTD., ASSOCIATED BRITISH FOOD PLC, MC CORMICK COMPANY INC., DOHLER GROUP, KIKKOMAN CORPORATION, OLAM INTERNATIONAL, ETC. SEVERAL M&A'S ALONG WITH PARTNERSHIPS HAVE BEEN UNDERTAKEN BY THESE PLAYERS TO BOOST THEIR PRESENCE IN DIFFERENT REGIONS.

Products


Companies

EVEREST SPICES

KERRY GROUP

MDH

AJINOMOTO CO. INC.

ARIAKE JAPAN CO.

LTD.

ASSOCIATED BRITISH FOOD PLC

MC CORMICK COMPANY INC.

DOHLER GROUP

KIKKOMAN CORPORATION

OLAM INTERNATIONAL

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1 MARKET DEFINITIONS

1.2 OBJECTIVE OF THE STUDY

1.3 LIMITATION

1.4 STAKE HOLDERS

1.5 CURRENCY USED IN REPORT

1.6 SCOPE OF THE GLOBAL SPICES AND SEASONINGS MARKET STUDY

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1 RESEARCH METHODOLOGY FOR THE GLOBAL SPICES AND SEASONINGS MARKET

2.1.1 MAIN OBJECTIVE OF THE GLOBAL SPICES AND SEASONINGS MARKET

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 TOP START-UPS UNDER SPICES AND SEASONINGS SECTOR

6 SPICES AND SEASONINGS AMID COVID-19

7 GLOBAL SPICES AND SEASONINGS MARKET REVENUE (USD BN), 2019-2027F

8 MARKET INSIGHTS BY PRODUCT TYPE

8.1 HERBS

8.1.1 ROSEMARY

8.1.2 FENNEL

8.1.3 GARLIC

8.1.4 MINT

8.1.5 PARSLEY

8.1.6 OREGANO

8.1.7 OTHERS

8.2 SALT & SALT SUBSTITUTES

8.3 SPICES

8.3.1 PEPPER

8.3.2 GINGER

8.3.3 CINNAMON

8.3.4 CUMIN

8.3.5 TURMERIC

8.3.6 CARDAMOM

8.3.7 CORIANDER

8.3.8 CLOVES

8.3.9 OTHERS

9 MARKET INSIGHTS BY APPLICATION

9.1 BAKERY & CONFECTIONARY PRODUCTS

9.2 MEAT & POULTRY PRODUCTS

9.3 FROZEN FOOD

9.4 SOUP, SAUCES AND DRESSINGS

9.5 BEVERAGES

9.6 OTHERS

10 MARKET INSIGHTS BY REGION

10.1 NORTH AMERICA SPICES AND SEASONINGS MARKET

10.1.1 UNITED STATES

10.1.2 CANADA

10.2.3 REST OF NORTH AMERICA

10.2 EUROPE SPICES AND SEASONINGS MARKET

10.2.1 GERMANY

10.2.2 FRANCE

10.2.3 UNITED KINGDOM

10.2.4 ITALY

10.2.5 SPAIN

10.2.6 REST OF EUROPE

10.3 ASIA PACIFIC SPICES AND SEASONINGS MARKET

10.3.1 CHINA

10.3.2 JAPAN

10.3.3 INDIA

10.3.4 AUSTRALIA

10.3.5 REST OF ASIA PACIFIC

10.4 REST OF WORLD SPICES AND SEASONINGS MARKET

11 SPICES AND SEASONINGS MARKET DYNAMICS

11.1 MARKET DRIVERS

11.2 MARKET CHALLENGES

11.3 IMPACT ANALYSIS

12 SPICES AND SEASONINGS MARKET OPPORTUNITIES

13 SPICES AND SEASONINGS MARKET TRENDS

14 LEGAL & REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1 DEMAND SIDE ANALYSIS

15.2 SUPPLY SIDE ANALYSIS

15.2.1 TOP PRODUCT LAUNCHES

15.2.2 TOP BUSINESS PARTNERSHIPS

15.2.3 TOP BUSINESS EXPANSIONS, INVESTMENTS AND DIVESTITURES

15.2.4 TOP MERGER AND ACQUISITIONS

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

17.1 PORTER'S FIVE FORCES ANALYSIS

17.1.1 BARGAINING POWER OF SUPPLIER

17.1.2 BARGAINING POWER OF BUYER

17.1.3 INDUSTRY RIVALRY

17.1.4 AVAILABILITY OF SUBSTITUTE

17.1.5 THREAT OF NEW ENTRANTS

17.2 COMPETITIVE LANDSCAPE

17.2.1 COMPANY SHARES, BY REVENUE

18 COMPANY PROFILED

18.1 EVEREST SPICES

18.2 KERRY GROUP

18.3 MDH

18.4 AJINOMOTO CO INC.

18.5 ARIAKE JAPAN CO LTD

18.6 ASSOCIATE BRITISH FOOD PLC

18.7 MC CORMICK COMPANY INC

18.8 DOHLER GROUP

18.9 KIKKOMAN CORPORATION

18.10 OLAM INTERNATIONAL

19 DISCLAIMER

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