Global Seasonings and Spices Market to Reach US$16,628.6 mn by 2019, Driven by Changing Food Habits in Asian Countries


  • Published On : Sep 27, 2015

The global seasonings and spices market was valued at US$12.5 bn in 2013 and is expected to be valued at US$16.6 bn by 2019. Changing food habits, rising consumer income, and globalization will help the global seasonings and spices market to grow at a 4.80% CAGR till 2019. 

Salt and Salt Substitutes Market Segment to Grow at 4.30% CAGR

The global seasonings and spices market is segmented on the basis of geography and product. By product, the global seasonings and spices market is divided into spices, salt and salt substitutes, pepper, and herbs. By product, the global seasonings and spices market was dominated by the salt and salt substitutes segment in 2012. The market for salt and salt substitutes increased at a 4.30% CAGR during the period from 2008 to 2012. By volume, the salt and salt substitutes market grew from 634.6 mn kg in 2008 to 772.2 mn kg in 2012. Salt and salt substitutes, being the largest market segment, are expected to grow at a 4.30% CAGR during the forecast period. 

By geography, the global seasonings and spices market is divided into regions such as Asia Pacific, Europe, North America, and Rest of the World. The global seasonings and spices market was extremely fragmented in 2012, with the top six market players holding a mere 15% share in the global market. Some of the leading companies in the global seasonings and spices market are McCormick and Company, Ajinomoto, Catch, Nestle, Everest, MDH Spices, Kraft Foods, and Knorr. McCormick leads the global seasonings and spices market, while Unilever accounts for merely 1.70% of the global market. This is due to Unilever’s smaller number of seasonings and spices products as compared to McCormick. Everest Spices primarily operates in the regional market of India but has started selling its new products in the regions of North America and Europe. 

Asia Pacific Market for Seasonings and Spices Leading due to Heavy Activity in India Market

With major contribution from the India market, the Asia Pacific region led the global seasonings and spices market in 2013. Uncertain economic conditions, along with inefficient logistics, will act as the major restraints for the Asia Pacific seasonings and spices market. Increasing demand for seasonings and spices cultivated organically will create growth opportunities for the Asia Pacific seasonings and spices market during the forecast period. 

Seasonings and spices are considered to be an essential part of any food, as they develop the aroma and taste associated with the food. Most of the leading companies in the global seasonings and spices market introduce new seasonings and spices to meet the changing tastes of consumers. Demand for foreign seasonings and spices will also lead to rapid development of the global seasonings and spices market during the forecast period. Foreign seasonings and spices from countries such as France and Italy are changing the food habits of people. Use of certain herbs and spices in the medical sector will also generate further demand for seasonings and spices. Growing awareness of the medicinal benefits of seasonings and spices is predicted to propel the global seasonings and spices market during the period from 2013 to 2019.

Browse Full Global Seasonings and Spices Market Research Report With Complete TOC @ http://www.persistencemarketresearch.com/market-research/seasonings-spices-market.asp

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