PUBLISHER: SkyQuest | PRODUCT CODE: 1220838
PUBLISHER: SkyQuest | PRODUCT CODE: 1220838
Global Seasoning and Spices Market was valued at USD 21.45 Billion in 2021, and it is expected to reach a value of USD 29.96 Billion by 2028, at a CAGR of 4.89% over the forecast period (2022-2028).
The primary driver fueling the expansion of this market has been identified as the increased awareness of the therapeutic properties of spices and herbs, together with the increasing number of individuals who cook at home. The market has also been stimulated by consumers' rising willingness to pay a premium for exotic and novel flavours. Due to the distinctive characteristics of local cuisines, which are also fueling the expansion, local cuisines have been receiving prominence on a global scale.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global seasoning and spices market and various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The Global Seasoning and Spices Market is segmented based on type as pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves, and others. In terms of application market is segmented as meat and poultry, bakery and confectionery, frozen food, snacks, and convenience food, and others. based on distribution channel, the market is segmented into Food service and retail. Based on region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Asian cuisines including Thai, Indian, Chinese, and Vietnamese use a wide range of spices and herbs to give the food a distinct flavour. The popularity of cooking at home is rising among American consumers. As a result, sales of numerous spices, including pepper and ginger, have increased. The seasoning & spices market has been driven by a number of campaigns and programmes that encourage individuals across to prepare more meals at home to lessen stress.
Spices and seasonings are frequently employed in many different sectors of the food industry. On the other side, it has been demonstrated that excessive spice use is bad for one's health. Some claim that stomach issues are the most common side effect of spicy meals. When stomach acid runs back up into the oesophagus, it causes heartburn, also known as acid reflux, which causes a burning sensation in the chest. This acidity can be brought on by spicy foods that contain capsaicin, which also slows down digestion and raises the risk of heartburn. Stomach or intestine irritation, which can have a laxative impact, is another digestive issue that spicy meals can cause.
Global demand for seasoning is expanding due to changing consumer habits, rising urbanisation, rising income levels, and novel eating experiences. Additionally, a growing number of consumers in North America and Europe have been incorporating different spices into their regional cuisines, creating new market prospects for manufacturers.