New Delhi, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The global Spices and seasonings market was valued at US$ 27.45 billion in 2023 and is projected to reach US$ 59.13 billion by 2032 at a CAGR of 8.9% during the projection period 2024–2032.
The burgeoning demand for packaged, ready-to-use spices and seasonings is emblematic of a broader shift in consumer behavior, reflecting a heightened awareness of health, safety, and convenience. As consumers increasingly prioritize hygiene and quality, the transition from loose to packaged spices becomes evident. This shift is further catalyzed by the growing middle-class population's disposable income, which has allowed consumers to spend more on premium food products. In 2023, the packaged spices segment of the spices and seasonings market is expected to welcome 20,000 new entrants, emphasizing the sector's competitive nature. Additionally, the average consumption of packaged spices per household has increased to 5 kilograms annually. With 200 new organic spice certifications issued this year, the demand for organic options continues to rise. The global spice packaging industry now employs 250,000 workers, underscoring the sector's economic significance. Moreover, the number of countries exporting packaged spices has increased to 130, broadening the market's international reach.
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The influence of food blogging on consumer behavior cannot be overstated. This digital phenomenon has transformed how consumers discover and interact with culinary products, including spices and seasonings. As of 2023, there are over 12 million active food bloggers worldwide, forming a vast and influential network. The number of spice-themed posts on Instagram alone has surpassed 600 million, highlighting the medium's role in promoting spice-related content. Food bloggers have collectively engaged with an audience of 1.2 billion followers, demonstrating their extensive impact on consumer choices. This year, 7,000 spice brands in the spices and seasonings market have formed partnerships with bloggers to enhance their market presence. Additionally, 25 million people have participated in online cooking classes featuring spices, reflecting the growing interest in culinary education. The global viewership for spice-related content on YouTube has reached 2.5 billion, further illustrating the platform's vast reach.
However, the spices and seasonings market growth is not without its challenges. Climate change remains a formidable obstacle, affecting the production and availability of spices. In 2023, there have been 2,000 documented instances of spice crop failures attributed to adverse weather conditions. The number of spice farms experiencing drought has increased to 12,000, indicating the severity of climate impacts. Furthermore, the global yield of spices has decreased by 250,000 tons due to climate-related disruptions. In response, 600 research initiatives are currently underway to develop climate-resilient spice varieties. Additionally, 120 countries have implemented policies to mitigate climate impacts on spice farming. The number of spice farmers adopting sustainable practices has reached 1.5 million, showcasing the industry's proactive stance. Global investments in climate adaptation for spice farming have surged to $1.5 billion, reflecting the urgency of addressing these environmental challenges.
Key Findings in Spices and Seasoning Market
| Market Forecast (2032) | US$ 59.13 Billion |
| CAGR | 8.9% |
| Largest Region (2023) | Asia Pacific (67.3%) |
| By Type | Hot Seasoning (42.8%) |
| By Seasonings Type | Salts (43.3%) |
| By Application | Meat & Poultry Products (36.9%) |
| By Distribution Channel | Offline (68.9%) |
| By End User | Residential (55.1%) |
| Top Drivers |
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| Top Trends |
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| Top Challenges |
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Hot Spices Control Dominating Stake in the Spices and Seasonings Market, Hold Over 42.8% Market Share
The hot spices sector is experiencing unprecedented growth, firmly establishing itself as a pivotal component of the global spices and seasonings market. As of 2023, the global spice market size is expected to surpass $30 billion by 2025, showcasing the significant role hot spices play in this robust expansion. The sector benefits from a culinary trend that leans heavily toward bold and adventurous flavors, with chili peppers being the most consumed hot spice globally, reaching over 1.6 million metric tons annually. The increasing consumer desire for fiery flavors has been mirrored in the retail space, where hot sauce sales have surged, generating over $1.5 billion in revenue in North America alone. Notably, the emergence of spicy snacks has also contributed significantly, with these products witnessing a sales increase of approximately 2 million units globally in the past year.
The global influence of hot spices is further reinforced by the rise in spicy food offerings in international cuisines in the spices and seasonings market. In the UK, for instance, the demand for Indian and Mexican dishes, both renowned for their use of hot spices, has led to a market growth of over $500 million annually. Meanwhile, the burgeoning popularity of spicy Korean dishes has introduced a new dimension to global spice consumption, with exports of Korean spices reaching new highs at 200,000 metric tons. The health benefits associated with capsaicin, the active component in chili peppers, have also attracted a health-conscious demographic, boosting the market for spicy health supplements, which now accounts for $300 million in annual sales. The advent of e-commerce has facilitated this growth, with online spice sales increasing by over 30 million units, making hot spices more accessible to a global audience.
Salts Continue to Assert Dominance in the Market with over 43% Market Share
Salt continues to assert its dominance in the global spices and seasonings market, driven by its unparalleled versatility and essential role in both culinary and industrial applications. The increasing consumer shift towards natural and health-oriented products has propelled the popularity of specialty salts, such as Himalayan pink salt and Fleur de Sel, with the latter garnering sales of $400 million due to its delicate flavor and artisanal appeal. The global trade of salt has seen substantial growth, with exports topping 60 million metric tons, reflecting its critical role in food processing, preservation, and a myriad of other sectors.
Moreover, the burgeoning food service industry continues to bolster salt's market dominance, as chefs and restaurateurs leverage its ability to enhance and balance flavors in diverse cuisines. The use of salt in processed food production is significant, with over 25,000 manufacturing plants worldwide incorporating it for taste enhancement and preservation. In the realm of health and wellness, the demand for Epsom and Dead Sea salts has surged, contributing to a wellness market segment worth $650 million, as consumers increasingly seek out mineral-rich products for therapeutic benefits in the spices and seasonings market. Furthermore, the eco-friendly de-icing sector, crucial in colder climates, consumes over 30 million metric tons of road salt annually, underscoring its indispensable utility beyond the kitchen. The cosmetic industry's embrace of salt, particularly in exfoliating and cleansing products, has led to a $500 million market, highlighting its multifaceted applications. These diverse uses not only cement salt's status as a staple seasoning but also forecast a promising and sustained growth trajectory, making it an indispensable component across various sectors.
Spiced Success: Meat & Poultry’s Flavorful Market Command to Stay Strong With Over 36.9% Market Share
The meat and poultry segment's robust command of the global spices and seasonings market in 2023 is driven by dynamic shifts in consumer preferences and international trade patterns. With the global meat consumption forecasted to reach 346 million metric tons, the demand for spices and seasonings tailored to enhance these products is unprecedented. In the U.S., beef consumption alone has climbed to 12 million metric tons, reinforcing the necessity for innovative spice blends that cater to diverse palates. China, remaining a pivotal player, now processes 90 million metric tons of pork annually, with its spice imports surging by 800,000 metric tons to meet this demand. Brazil, capitalizing on its robust beef export market, has seen its spice industry grow by incorporating 1.5 million metric tons of new seasonings to cater to international tastes.
The movement towards health-conscious eating is equally propelling this segment. Over 35,000 new meat and poultry products globally have launched with an emphasis on natural and organic seasonings, reflecting consumer demand for transparency and quality. The European spices and seasonings market alone has introduced 6,000 such products in 2023, highlighting a shift towards sustainability and artisanal flavors. Meanwhile, India has amplified its spice production by 2 million metric tons, aiming to support its expanding meat processing sector and meet both domestic and international demand. In Southeast Asia, the Philippines has increased its spice consumption by 400,000 metric tons, driven by a burgeoning love for seasoned chicken dishes. Furthermore, the Middle East's spice imports have grown significantly, with the UAE importing an additional 200,000 metric tons to satisfy its diverse culinary landscape. These developments underscore the meat and poultry segment's adaptive strategies and its integral role in shaping the future of the global spices and seasoning market.
The global spices and seasonings market is a dynamic and rapidly evolving sector, significantly influenced by the top players such as McCormick & Company, Inc., Olam International, and Ajinomoto Co., Inc. Ajinomoto Co., Inc. has taken a commanding lead with over 24.5% market share, leveraging its extensive product portfolio and strong global presence. This leadership position is bolstered by Ajinomoto's focus on innovation and sustainability, which aligns with consumer trends favoring natural and organic products. For example, Ajinomoto's development of umami-based seasonings caters to the increasing demand for flavor enhancers that reduce sodium intake, thus capturing health-conscious consumers.
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McCormick & Company, Inc., Olam International, Ajinomoto Co. Inc., are Top 3 Players in Spices and Seasonings Market, Control Over 38% Market Share
McCormick & Company, Inc., another formidable player, has solidified its position through strategic acquisitions and a robust supply chain. McCormick's acquisition of Cholula Hot Sauce in 2020 and FONA International, a leading manufacturer of clean and natural flavors, exemplifies its strategy to diversify and strengthen its product offerings. McCormick's commitment to sustainability and transparency in sourcing has also enhanced its brand appeal. The company reported a 12% increase in net sales in 2022, driven by its focus on digital transformation and e-commerce, enabling it to reach a broader demographic and meet the growing demand for spices and seasonings globally.
Olam International, capturing a significant portion of the spices and seasonings market, strategically focuses on sustainable sourcing and extensive agricultural supply chain networks. As a leading agribusiness, Olam has invested heavily in technology and innovation to improve traceability and sustainability in its spice production. Its acquisition of Olde Thompson, a leading private label spices and seasonings manufacturer in the U.S., highlights its aggressive expansion strategy. Olam's initiatives in sustainable agriculture and digital platforms for smallholder farmers have positioned it favorably in a market increasingly driven by ethical consumerism. Collectively, these three companies hold over 66% of the market share, a testament to their strategic initiatives, global reach, and ability to adapt to changing consumer preferences.
Key Companies:
- 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)
- Other Prominent Players
Market Segmentation:
By Type
- Hot Spices
- Capsicum (chillies)
- Cayenne pepper
- Black and White peppers
- Ginger
- Mustard
- Others
- Mild spices
- Paprika
- Coriander
- Others
- Aromatic spices
- Cardamom
- Cassia
- Cinnamon
- Clove
- Cumin
- Others
- Herbs
- Basil
- Bay
- Dill leaves
- Marjoram
- Tarragon
- Others
By Seasoning Type
- Salts
- Pepper
- Sugar and Light Flavored Sweeteners
- Acids
By End User
- Residential
- Commercial
- Restaurants
- Bar & Cafes
- QSRs
By Distribution Channel
- Online
- e-Commerce Website
- Company's Owned Website
- Offline
- Supermarkets/Hypermarkets
- Retail Stores
By Application
- Meat & poultry products
- Snacks & convenience food
- Soups, sauces, and dressings
- Bakery & confectionery
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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