Spices Market by Form (Chopped/Crushed, Powder and Whole), Category (Conventional and Organic), Product (Capsicum, Turmeric and Others), Distribution Channel and Geography - Global Industry Analysis, Opportunities and Forecast up to 2026

The global spices market size was valued at $6.30 billion in 2020, and is projected to reach $9.72 billion by 2026, growing at a CAGR of 7.5% during the forecast period.

• The spices market has a promising growth potential due to several factors which includes growing awareness about the health benefits of spices and rising global demand for authentic cuisines.

• Additionally, spices market has witnessed massive growth globally because of newer cuisines using spices being introduced to people of different ethnicities. This has been a noticeable growth opportunity for the market and will continue to be one.

• However, lack of proper advertisement and uncertain climatic conditions in various spice producing countries are expected to hamper the spices market.

Spices are seeds, dried fruits, roots, and barks that are used in cooking to add flavour, aroma, and colour. Several spices, including ground, crushed, and whole, are available in diverse forms from varied origins and cuisines. Each of these spices gives the cuisine a distinct flavour, aroma, and taste. Cinnamon, black pepper, cumin seeds, nutmeg, cloves, chilli powder, turmeric, ginger, and garlic are some of the most regularly used spices.

By Product, the Turmeric Segment Holds the Dominant Position in the Market Revenue

The turmeric segment holds the dominant position in the market during the forecast period. Turmeric is a relatively new addition to American cuisine, but it has been used for thousands of years throughout Asia and the Middle East. It's easier to come by in the form of a pulverised, brilliant orange powder, which may be purchased in any spice aisle. It's a versatile powder with a peppery flavour, yellow hue, and mustard-like aroma that may be used in a variety of recipes and for a variety of culinary applications. It goes well with both savoury and sweet foods. Its earthy flavour, on the other hand, pairs well with savoury, spice-based dishes. Turmeric is used in traditional cuisines such as kedgeree and coronation chicken.

By Geography, Asia Pacific Region is Projected to Strong Presence in the Global Market

Asia Pacific is one of the leading producers and exporters of spices. The region boasts the world's greatest population and has seen a significant increase in the demand for spices. The majority of spices and herbs are grown in nations like India, Vietnam, China, and Thailand, making the region the world's leading exporter. With the advent of marketing and promotional activities, rising consumer income, and the growth of domestic brands, consumption in the region is also developing at a rapid rate. AJINOMOTO, Everest, Catch, Ariake Japan, and MDH are some of the well-known participants in the sector. China is one of Asia Pacific's top spice consumers. Domestic consumption is the primary driver of demand, followed by restaurant outlets. Because of the diversification of daily diets across China as a result of rising individual income and economic progress, there are now a variety of options for meeting the demand for seasoning and spices.

List of the Key Players Profiled in the Market Include:

• Ajinomoto Co., Inc.
• Associated British Foods plc
• B&G Foods, Inc
• Colorado Spice
• Dohler Group
• DS Group
• Everest Spices
• Frontier Co-op
• Kerry Group
• McCormick & Company, Inc
• Organic Spices Inc
• Sauer Brands, Inc
• SpicesInc.com
• Terana, SA
• The Watkins Co

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Form:
• Chopped/Crushed
• Powder
• Whole
   
Market by, Category:
• Conventional
• Organic
   
Market by, Product:
• Capsicum
• Turmeric
• Cardamom
• Cinnamon
• Cloves
• Coriander
• Cumin
• Ginger
• Nutmeg & Mace
• Pepper

Market by, Distribution Channel:
• Store-Based
• Non-Store-Based

Market by, Application:
• Bakery & Confectionery
• Beverages
• Frozen Products
• Meat & Poultry Products
• Packaged Food
• Snacks & Convenience Food
• Soups, Sauces, and Dressings

Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview            
    1.1 Introduction        
    1.2 Research Objectives       
    1.3 Market Segmentation       
    1.4 Stakeholders        
    1.5 List of Acronyms        
              
2 Executive Summary            
               
3 Research Methodology           
    3.1 Identification of Data       
    3.2 Evaluation of Market Dynamics      
    3.3 Collaboration of Data       
    3.4 Verification and Analysis       
    3.5 Data Sources        
    3.6 Assumptions         
              
4 Market Dynamics            
    4.1 Market Drivers        
            4.1.1 Growing Awareness about the Health Benefits of Spices
            4.1.2 Rising Global Demand for Authentic Cuisines
    4.2 Market Restraints        
            4.2.1 Uncertain Climatic Conditions in Various Spice Producing Countries
    4.3 Market Opportunities       
            4.3.1 Increasing Fondness towards Different Flavors in Foods and Snacks
    4.4 Market Challenges        
            4.4.1 Stringent Government Regulations for Spices Manufacturing
    4.5 Impact of COVID-19 on Spices Market      
              
5 Porter's Five Force Analysis           
    5.1 Bargaining Power of Suppliers       
    5.2 Bargaining Power of Buyers        
    5.3 Threat of New Entrants       
    5.4 Threat of Substitutes       
    5.5 Competitive Rivalry in the Market      
              
6 Global Spices Market by, Form          
    6.1 Overview        
    6.2 Chopped/Crushed        
    6.3 Powder         
    6.4 Whole         
              
7 Global Spices Market by, Category          
    7.1 Overview        
    7.2 Conventional        
    7.3 Organic         
              
8 Global Spices Market by, Product          
    8.1 Overview        
    8.2 Capsicum         
    8.3 Turmeric         
    8.4 Cardamom        
    8.5 Cinnamon        
    8.6 Cloves         
    8.7 Coriander        
    8.8 Cumin         
    8.9 Ginger         
    8.10 Nutmeg & Mace        
    8.11 Pepper         
              
9 Global Spices Market by, Distribution Channel         
    9.1 Overview        
    9.2 Store-Based        
            9.2.1 Convenience Stores
            9.2.2 Supermarkets & Hypermarkets
    9.3 Non-Store-Based        
              
10 Global Spices Market by, Application          
    10.1 Overview        
    10.2 Bakery & Confectionery       
    10.3 Beverages        
    10.4 Frozen Products        
    10.5 Meat & Poultry Products       
    10.6 Packaged Food        
    10.7 Snacks & Convenience Food       
    10.8 Soups, Sauces, and Dressings       
              
11 Global Spices Market by, Geography          
    11.1 Overview        
    11.2 North America        
    11.3 Europe         
    11.4 Asia Pacific        
    11.5 South America        
    11.6 Middle East & Africa       
              
12 Key Developments            
              
13 Company Profiling            
    13.1 Ajinomoto Co., Inc.        
            13.1.1 Business Overview
            13.1.2 Product/Service Offering
            13.1.3 Financial Overview
            13.1.4 SWOT Analysis
            13.1.5 Key Activities
    13.2 Associated British Foods plc       
    13.3 B&G Foods, Inc         
    13.4 Colorado Spice        
    13.5 Dohler Group        
    13.6 DS Group         
    13.7 Everest Spices        
    13.8 Frontier Co-op        
    13.9 Kerry Group        
    13.10 McCormick & Company, Inc       
    13.11 Organic Spices Inc        
    13.12 Sauer Brands, Inc        
    13.13 SpicesInc.com        
    13.14 Terana, SA        
    13.15 The Watkins Co