Meticulous Research®, a well-known global market research company, has published an insightful report titled ‘Spices & Seasonings Market Size, Share, Forecast, & Trends Analysis by Product Type (Spices {Pepper, Cinnamon, Turmeric}, Herbs {Oregano, Rosemary}, Salt & Salt Substitutes), Category (Organic), Form (Powder), Distribution Channel – Global Forecast to 2031.
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Market Overview
This report forecasts that the spices and seasonings market will reach $30.35 billion by 2031, growing at a CAGR of 5.3% from 2024 to 2031. Key drivers of this market's growth include an increase in demand for convenience foods, a rise in vegetarianism and veganism, and a growing appetite for spicy food products. Nonetheless, the market may be hindered by the rising incidence of counterfeit spice products.
Health-Conscious Consumer Trends
An increasing emphasis on health and wellness and a rising demand for organic spices and seasonings present significant growth opportunities for market participants. Additionally, the popularity of ethnic and exotic flavors is a prevailing trend influencing the spices and seasonings market.
Major Market Players
Key players in the spices and seasonings market include McCormick & Company, Inc. (U.S.), Kerry Group plc (Ireland), Döhler Group (Germany), Ajinomoto Co., Inc. (Japan), Associated British Foods plc (U.K.), ARIAKE JAPAN Co., Ltd. (Japan), Baron Spices Inc (U.S.), SHS Group Limited (U.K.), Watkins Incorporated (U.S.), The Bart Ingredients Company (U.K.), and Frontier Cooperative (U.S.).