A spice is a seed, root, fruit, bark, or other plant substance or matter. It is mainly used for coloring or preserving and flavoring food. Spices are extracted from flowers, leaves, or stems of plants. Spices are used for flavoring or as a garnishing or adding herbs, salt, or spices to food to improve the flavor. Some of the major advantages of using spices it improves brain function & memory, combat sickness & improve health, helpful for fighting against the infections, powerful anti-diabetic effect and boosts the immunity.
According to study, “Global Spices & Seasonings Market Size study, by Application (Meat & Poultry Product; Snacks & Convenience food; Soup, Sauces & Dressings; Bakery & Confectionery, Frozen Products; Beverages; Other Application), by Type (Pepper, Capsicum, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg & Mace, Cardamom, Coriander, Cloves, Others) and Regional Forecasts 2018-2025” some of the major companies that are currently working in the global spices & seasonings market are Syniverse Technologies LLC, MDH Spices, Mccormick & Company, Bart Ingredients, Catch (DS Group), Baria Pepper, Ajinomoto Co. Inc., Olam International, Ariake Japan Co. Ltd., Associated British Foods PLC, WorleeGruppe, British Pepper & Spice Co. Ltd (SHS Group), B & G Foods Inc., Sensient Technologies, Dohler Group, Olam International, Kerry Group PLC, Zhumadian Wang shouyi, Everest Spices, Haitian, Nestle, CaJohns Fiery Foods, Frontier Natural Products Co-op., Golden West Specialty Foods, Inc., KIS CO. Ltd., Char Crust, Inc., Goya Foods, Inc., Fuchs North America, Harris Freeman & Company Inc., Griffith Foods, Inc., Italpepesrl, Lawry’s, Old World Spices & Seasonings, Mehran Spice & Food Industries, Newly Weds Foods, Inc., Old Mansion Foods, Neptune Food Products Ltd., Oregon Spice Company, S&B Foods Inc., Rocky Mountain Spice Company, Synthite Industries Ltd., The Spice Way, The Bart Ingredients Company Ltd., Vanns Spices Ltd., Williams Foods, Inc., Victoria Gourmet, Inc., Xcell International Corp., WILD Flavors GmbH, Wixon. All these companies are focusing on expansion strategies in the world.
Based on the type, the global spices and seasonings market is segmented into capsicum, cinnamon, pepper, cumin, ginger, dehydrated onion or garlic, nutmeg & mace, turmeric, mustard seed, coriander, cardamom, sesame seed, cloves and others. Based on application, market is segmented into sauces and dressings, snacks and convenience food, meat & poultry product, soup, frozen products, bakery & confectionery, beverages and many other applications.
The spices and seasonings market is driven by the increased usage of spices as a natural preservatives followed by growing middle class population, rapid augmentation in demand for healthy and nutrition rich foods for the young and rapidly increasing urbanization with changing lifestyle and increasing awareness amongst the consumer health awareness regarding the health. Additionally, some of the major restraining aspects include stringent government regulations of the food additives and hesitation among the user to modify their preference or favorite from traditional eating habits. In addition to this the increasing demand of health and wellness products are adding to the biggest opportunity for spices & seasoning manufacturing market.
Globally, North America is the leading player which leads the market owing to increasing awareness on the medical properties. In addition the Asia Pacific region is expected to register a higher CAGR due to increase in development of the overall economy. China is the leading country in spices demand over the Asia Pacific region, followed by India creating huge demand of spices and seasonings. It is anticipated that the Asia Pacific spice market to grow much more competitive over the upcoming years. It is also estimated that the global spices & seasoning market to reach US $20.4 billion, by 2025.
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Ankur Gupta, Head Marketing & Communications