24/7 Customer Support
Global spices and seasonings market was valued at US$ 25,247.3 million in 2021 and is projected to generate a revenue of US$ 47,678.1 million by 2030 at a CAGR of 7.7% during the projection period 2022–2030. This growth can be attributed to increasing demand for packaged, ready-to-use spices and seasonings products and the rising popularity of international cuisines.
For thousands of years, spices and seasonings have been used to enhance the flavor of food. Today, there is a growing demand for spices and seasonings worldwide. The market for spices and seasonings is growing at a rate of 7.7% each year. This growth is expected to continue through 2030, due in part to the increasing popularity of ethnic foods and home cooking. The market for spices and seasonings is dominated by India, China, and the United States. These three countries are responsible for over 60% of the global demand and production for spices and seasonings.
Some of the key players in the global spices and seasonings market are Olam International inc., McCormick & Company Co., Ajinomoto Co., Associated British Foods Co., Kerry Group Inc. among others. As per our study, the top 5 players held over 79% of the market.
Currently, the major player in the global Spice and Seasoning market is McCormick & Company, Inc. (McCormick). The company has been operating in this market for more than 132 years and has a strong presence in countries such as the United States, Canada, Europe, South America, Asia Pacific, and Africa. In 2021, McCormick was the top supplier of spices and seasonings in the U.S., making it one of the top five players in this market globally.
Top Growth Strategies of key players:
Increasing Demand for Packaged Ready-to-Use Spices And Seasonings Products
Demand for ready-to-use, packaged spice brands has been growing at a healthy CAGR thanks to changing consumer lifestyles. Instead of buying loose spices from shops, consumers are now gravitating towards safe and organic spices and seasoning items. Today, consumers have become more aware of the spices that are sold freely and without hygienic packing as they believe loose items are more likely to be adulterated and contaminated. In order to avoid such a scenario, people are willing to pay more for packaged and branded spice products.
By 2025, India branded spices and seasonings market is expected to quadruple and attain a market value of over $611 million, according to Avendus Capital. Half of the spices sold in the nation will be branded, and sales of these spices are predicted to grow at a CAGR of 24% until 2025.
Growing Trend of Food Blogging
The use of social media has increased among the older and younger generations alike because of rising smartphone adoption and expanding internet penetration across the globe.
The number of food bloggers has been on the rise in recent years, and the trend is likely to continue. According to a study by Astute Analytica, food blogging can help boost demand for spices and seasonings. The study found that 42% of all online shoppers purchase seasoning products because they read or hear about them through food blogs. This suggests that food bloggers have a big impact on consumer behavior.
The abundance of information available online means that food bloggers have a lot of power to influence the demand for spices and seasonings. Their influence can be especially strong when it comes to influencing people’s shopping decisions.
According to our study, this growing trend focuses on using specific spices and flavor combinations in recipes. In addition, many people enjoy experimenting with different spices and flavors themselves, which can spark interest in trying new spices and seasonings. As a result, businesses that produce spices and seasonings are seeing an increase in demand from consumers who want to create delicious cuisine at home.
High Dependency of Spice Crops on Climate Conditions
The production of spices and seasonings is significantly impacted by extreme weather patterns and global warming. Today, the loss of spice crops is attributed to arid circumstances, which may result in reduced pollination and abortion of cardamom blooms as well as spike shedding in black pepper.
Based on type, the global spices and seasonings market is segmented into hot spices, mild spices, aromatic spices, and herbs. Wherein the hot spices segment holds 42.8% market share.
Consumers' willingness to experiment with new flavors and their rising interest in a range of global cuisines have led to a proliferation of product possibilities and an increase in the sale of spices. The way this industry answered consumer expectations for additional flavor options, convenience, and healthier products is also a major contributor to its success. Increased popularity of fast food in Asian nations is another factor behind this higher market share.
Based on seasoning, the global spices and seasoning market is segmented into salts, pepper, Sugar and light flavored sweeteners, and acids. However, the salts segment holds 43.3% market share.
Salt is one of the essential ingredients for many dishes and recipes. While table salt is largely considered to be safe, there are many other types of salts that can be used in cooking. Natural salts such as pink Himalayan salt or Celtic Sea salt are becoming more popular as they come from natural sources and don’t contain any chemicals or additives.
These salts are often preferred by some cooks because they have a stronger flavor and can be used to enhance different dishes. For example, Celtic Sea salt can add a depth of flavor to soups and stews, while pink Himalayan salt can add a bright note to savory dishes like chicken curry.
Distribution Channel Analysis
By distribution channel, the offline segment holds 68.9% of the market share.
Retailers that rely on offline sales are also seeing the benefits of this trend. Offline retailers such as hypermarket, supermarket, convenience stores, and specialty stores, among others, can charge a higher price for spices and seasonings because they enjoy the economies of scale that comes with operating a large store. Furthermore, offline stores can offer customers more personalized service since they are not dealing with automated sales systems.
However, while online retailers have gained an edge over their offline counterparts in terms of competition and customer service, there is still room for both types of retailers to grow. Offline stores can capitalize on the trend of people wanting to cook more at home by providing an inventory of high-quality spices and seasonings at reasonable prices. In addition, online retailers can improve their customer service by implementing automated systems that allow customers to buy products quickly and easily.
Based on application, the market is segmented into meat & poultry, snacks & convenience food, soups, sauces, and dressings, bakery & confectionery, and others. Out of which, meat & poultry held a 36.9% share of the global spices and seasoning market in 2021.
Growing populations, changing lifestyles, and rising disposable incomes have all contributed to a growth in the consumption of meat and poultry foods, particularly in developing countries like China, India, and Brazil. On top of that, consumers’ interest in natural flavors and ingredients is expanding, with processed meat and convenience products becoming more streamlined with clean labeling.
End User Analysis
Based on end users, the global spices and seasoning market is bifurcated into residential and commercial. Wherein the residential segment held 55.1% market share in 2021, and the segment is projected to continue holding its dominance over the forecast period.
The demand for spices and seasoning from residential applications is higher than commercial use, as people are more likely to cook at home. The popularity of quick and easy recipes has also contributed to this trend. Additionally, many people like to experiment with different spices and flavors, which can be difficult to do when cooking at a restaurant.
Another reason for the higher demand for spices and seasoning from residential applications is that they are used in a variety of dishes. For example, curry powder is often used in Indian food, while salt can be used in a variety of Mediterranean recipes. Therefore, it is not surprising that there is high demand for these products.
Asia Pacific is dominating the global spices and seasonings market by generating more than 67.3% revenue in 2021. Strong presence of young people, higher preferences for cooking food at home, and rapidly growing fast food businesses across India, China, Thailand, and Indonesia have pushed the demand for packaged, frozen, and convenience food consumption further.
Apart from this, the growth of the regional market is supported by the increase in disposable income, the development of numerous indigenous brands of spices and herbs, and increased marketing and promotional activities.
Since countries like India, Vietnam, China, and Thailand produce most of the world's spices and herbs, the Asia Pacific region is one of the top exporters in the world.
By Seasoning Type
By End User
By Distribution Channel
A spice is a seed, fruit, root, bark, or other plant substance primarily used for flavouring or colouring food whereas an ingredient used to prepare food before it is cooked is called as seasonings.
Asian cuisines such as Thai, Indian, Chinese, and Vietnamese use a wide range of spices and herbs to give the food a distinct flavour.
The rising demand of Spices and Seasonings is because of the rising population and specific spices and herbs are replacing sugar, salt, and artificial additives as consumers become more health conscious.
The Global Spices and Seasonings market is projected to grow at a CAGR of 7.7% during the forecast period 2022-2030 and is expected to reach US$ 47,678.1 Mn by 2030.
Demand for ready-to-use, packaged spice brands has grown by a double-digit percentage because of changing consumer lifestyles and rising packaged spice demand.
The offline segment holds largest CAGR in the Global Spices and Seasonings market during the forecast period.
Asia-Pacific region is growing with the fastest CAGR during the forecast period.
Climate conditions is a restraining factor which inhibits the growth of the Spices and Seasonings market during the forecast period.
India holds the major share in term of revenue in the North America Spices and Seasonings market.
Type, Seasoning Type, Distribution Channel, Application, End Users, and region are the different segments in the global Spices and Seasonings market.
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), Worlée Gruppe (Germany), Watkins Incorporated (U.S), Ariake Japan Co. Ltd (Japan), MDH (India)among others.
79% of Market share is held by major players which are McCormick & Company, Inc. (US), Olam International (Singapore), Ajinomoto Co. Inc. (Japan), Associated British Foods plc (UK), Kerry Group plc (Ireland).