Market Research Report
Spices and Seasonings
|Spices and Seasonings|
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 307 Pages
Delivery time: 1-2 business days
Global Spices and Seasonings Market to Reach 3.2 Million Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Spices and Seasonings estimated at 2.5 Million Metric Tons in the year 2020, is projected to reach a revised size of 3.2 Million Metric Tons by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027. Dehydrated Onion/Garlic, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach 1.1 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pepper segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at 688.1 Thousand Metric Tons, While China is Forecast to Grow at 6.2% CAGR
The Spices and Seasonings market in the U.S. is estimated at 688.1 Thousand Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 669.7 Thousand Metric Tons by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Mustard Seed Segment to Record 4.6% CAGR
In the global Mustard Seed segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 385.8 Thousand Metric Tons in the year 2020 will reach a projected size of 507.3 Thousand Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 453.3 Thousand Metric Tons by the year 2027, while Latin America will expand at a 5.5% CAGR through the analysis period.
Select Competitors (Total 154 Featured) -