The seasonings and spices market is segmented into five broad segments: Salt and Salt Substitutes, Pepper, Herbs, Spices and Others. Salt and salt substitutes and pepper dominates the market, constituting more than 50% of the global market share.
Albany, NY -- (SBWIRE) -- 02/25/2016 -- The fine seasonings and spices market has witnessed a phenomenal growth rate since ancient times. The bold flavors of spices have not only enticed foreign palates, but also treated diseases and illnesses. Owing to globalization and growing influence of countries of the East, the seasonings and spices market has grown tremendously. Consumers are looking at ways to enrich their meals with improved tastes, thereby leading to the growth of the global seasonings and spices market. Hobbled with rising health issues, consumers are turning towards the intrinsic remedial nature of seasonings and spices, which is also fueling the expansion of this market.
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The vast seasonings and spices market is segmented into broad segments such as salt and salt substitutes, spices, pepper, herbs, and others. The growth of these segments is studied on basis of regions such as North America, Europe, Asia Pacific, and Rest of the World.
Overview of the seasonings and spices market
Seasonings and spices add to the taste of food and are an important part of cuisines across the world. The report on the global seasonings and spices market indicates that this market has witnessed a steady growth over the years and remains relatively unaffected by recession or the sinusoidal nature of the world economy. The primary growth drivers for the global seasonings and spices market is rising demand for foreign cuisines such as French and Italian and shifting consumer food habits in Asian countries. Increasing awareness about the medicinal properties of certain spices such as turmeric, cinnamon, and cloves is also leading to a sizeable expansion of the seasonings and spices market in the world. Several spices grown in Asian countries such as India are known to treat common cold, fungal infections, and fever at a much faster rate than regular antibiotics can.
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Spice-producing countries are often susceptible to uncertain climatic conditions as well as inefficient logistics. This, together with government policies restricting imported spices, is expected to restrain the seasonings and spices market. However, there is a niche market for organic seasonings and spices and this factor holds a rather strong scope for growth in the coming years.
The report on global seasonings and spices states that the salt and salt substitutes segment and pepper segment hold the biggest market share at about 50%. This dominance can be attributed to their indispensible role in every kind of food. According to the report, Asia Pacific held 66% shares in the global seasonings and spices market in 2012 in terms of volume, and is expected to reach 69% by 2019. In terms of value, Europe led the global seasonings and spices market in 2012 with a market share of 35% while Asia Pacific followed closely at 31%.
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Companies mentioned in the research report
Some of the key players in the global seasonings and spices market are MDH Spices, Everest Spices, McCormick & Company, Catch, Knorr, Nestle, and Kraft Foods. The report profiles these companies, understands their financial outlook, studies their investment plans, and provides a granular view about how their performances are likely to impact the economy at large.
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