Market Research Report
Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: August 2, 2021
IMARC Services Private Limited
Content info: 142 Pages
Delivery time: 2-3 business days
The global spices and seasonings market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 6% during 2021-2026. Spices and seasonings are added to food products and beverages to improve their aroma, essence and taste. Spices, including cardamom, cinnamon, clove, nutmeg and pepper, are plant-based substances that are commonly used for flavoring, coloring and preserving food. They are also extensively utilized in the production of medicines, cosmetics and perfumes. On the other hand, seasonings are mixtures of salts, herbs, spices and sugars that can have a sweet, savory, acidic or bitter taste. Cinnamon, paprika, and cumin are some of the most commonly used seasonings, which are added to enhance the flavor of any dish.
The growing hospitality industry, along with the increasing preference for ready-to-eat and ready-to-drink products, is among the key factors driving the growth of the market. Furthermore, there is a growing inclination among consumers to try innovative cuisines and flavor-rich dishes, which are prepared using a variety of spices and seasonings. Apart from this, they are also utilized as natural preservatives to restrict microbial activity and maintain the quality of meat and poultry products. Additionally, growing health consciousness among the consumers is acting as another major growth-inducing factor. Spices and seasonings are rich in antioxidants and many of them are considered to have medicinal properties, owing to which they are used for treating numerous diseases and ailments. For instance, turmeric is widely used to build immunity against cancer, Alzheimer's disease and inflammation in the joints. Moreover, the rising preference for exotic cuisines and organic ingredients, along with the increasing consumer expenditure on food and beverages is projected to drive the market further.