Dubai, Abu Dhabi, Feb. 20, 2023 (GLOBE NEWSWIRE) -- As per the recent research report published by Extrapolate, the global Organic Spice Market is estimated to reach USD 440.05 million by 2028 from USD 322.9 million in 2021 and, at a CAGR of 4.52% from 2022 to 2028.
Consumers are increasingly opting for organic spices due to their natural ingredients, resulting in richer flavors without added preservatives, colors, or flavors. Moreover, the availability of a diverse range of organic spices in the market offers consumers greater versatility in meal preparation. Furthermore, the rising adoption of herbal spice-based therapeutics for herb-based decoction is emerging as an effective method to treat viral symptoms, hence driving the organic spice market growth during the forecast period.
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Increasing adoption of organic spices in culinary applications such as ginger, chili, and turmeric is projected to expand market growth in the years to come. With greater demand for natural and organic ingredients in the fast-moving consumer goods (FMCG) industry, organic spices are gaining prominence with their anti-inflammatory and detoxification characteristics. Increasing government initiatives for supporting local organic spice brands is also driving market growth.
Rapid population growth in North America and Europe is increasing the number of health-conscious customers in the regions. For instance, organic chili contains Vitamin C that acts as an antioxidant to boost the immune system. Therefore, with transforming eating habits, consumers have begun resorting to healthier and natural ingredients which is rapidly driving the growth of the organic spice market.
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Competitive Landscape of Organic Spice Market
The major players in the organic spice industry include Ajinomoto Co. Inc, The Watkins Co., Akay, Sauer Brands, Kerry, among others. The key players are rapidly adopting various advanced technologies for effective management of spice quality, food safety, and maintaining product standards. For instance, in October 2021, Olam Food Ingredients entered into a strategic partnership with Agri-Neo for providing organically pasteurized dried onions with improved pasteurization technology. Moreover, new product innovations are expected to enhance sustainable and eco-friendly characteristics to increase the overall market share during the forecast period.
- Ajinomoto Co., Inc.
- Olam International Limited
- Sensient Technologies Corporation
- UK Blending LTD
- Organic Spices Inc.
- The Watkins Co.
- Akay
- Frontier Co-op
- Rocky Mountain Spice Company
- Sauer Brands
- McCormick & Company, Inc.
- Kerry
- Others
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Market Segmentation by:
Type:
- Ginger
- Turmeric
- Chili
- Clove
- Pepper
- Cinnamon
- Nutmeg
- Mustard Seeds
- Others
Pepper Segment to Hold Dominance in the Global Organic Spice Market
On the basis of the segment type, the organic spice market has been categorized into ginger, turmeric, chili, clove, pepper, cinnamon, nutmeg, mustard seeds, among others. The pepper segment is projected to dominate the market share during the forecast period owing to increasing adoption of healthy lifestyles for various health benefits. For instance, the rising demand for powdered pepper as an anti-inflammatory and antioxidant ingredient is anticipated to provide robust growth for the pepper segment.
The intake of pepper aids in curing multiple digestive issues and further assists in strengthening the immune system, hence driving the growth of the segment. Furthermore, the pepper segment is expected to expand owing to its ability to stimulate hydrochloric acid present in the stomach for improved digestion and absorption of foods.
Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
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Supermarkets/Hypermarkets Segment to Witness Boost in Sales for Organic Spices
The supermarkets/hypermarkets segment is expected to dominate the market share during the forecast period owing to easy availability and steady consumer preferences for physical touch and smell of the organic products. With traditional buying habits contributing to the growth of supermarkets and hypermarkets, the sales of organic spices are expected to rise rapidly.
With an increase in demand for organic spices from food manufacturers and other service providers, the organic spice market is witnessing immense growth in the forecast period. However, the online segment is anticipating huge growth due to e-commerce platforms such as Amazon, Bigbasket, Dunzo, among other online supply channels.
Europe to Dominate Organic Spice Market with Rising Health Benefits of Organic Foods
The global organic spice market is categorized into Europe, North America, Asia-Pacific, Latin America, Middle East & Africa. As per research analysts at Extrapolate, Europe is anticipated to dominate the market share owing to the largest consumption of these spices worldwide. According to the Food Market Institute, Germany held more than 18% of the European market share for organic spices in 2022. Germany is expected to continue leading the market share for organic spices during the projection period owing to the increasing adoption of healthier lifestyles and consumption of organic spices for health benefits.
For instance, the rising adoption of authentic flavors and food preparation methods in traditional Eastern European countries, including Poland and Russia, is expected to drive rapid growth of the organic spice market in the region. Europe also holds a significant market share in the organic spice market owing to the sterilization of traditional spices with dangerous chemicals being banned in Europe. As a result, the region has witnessed an increase in the consumption of organic products.
Furthermore, the rising consumption of organic foods as well as a rise in the disposable incomes of populations, specifically in North America and Europe, are expected to generate lucrative opportunities in the organic spice market forecast.
Browse Complete TOC @ https://www.extrapolate.com/toc/food-beverage/organic-spice-market/21587
Some Major Points from Table of Content:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Organic Spice Market
Chapter 5. Global Organic Spice Market Overview, By Type, 2015 - 2028 (USD Million)
Chapter 6. Global Organic Spice Market Overview, By Application, 2015 - 2028 (USD Million)
Chapter 7. Global Organic Spice Market Overview, By Distribution Channel, 2015 - 2028 (USD Million)
Chapter 8. Global Organic Spice Market Overview, By Geography, 2015 - 2028 (USD Million)
Chapter 9. North America Organic Spice Market Overview, By Countries, 2015 - 2028 (USD Million)
Chapter 10. Europe Organic Spice Market Overview, By Countries, 2015 - 2028 (USD Million)
...TOC Continued
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