Seasonings and spices are the vitals in any cuisine as they offer a peculiar taste and unique aroma to each cuisine. Seasoning consists of a wide number of herbs and spices. Spices possess several antioxidant properties and are found to be very useful in treating several health problems. In addition, the spices and seasonings also enhance the quality of food products and increase their shelf life.
The growing popularity of exotic food, along with the surging demand for exquisite spices for in-home culinary preparation, is one of the major factors driving the growth of the global seasonings and spices market. Globalization is highly swaying the seasonings and spices market owing to the deep penetration of indigenous seasonings and spices products globally. The growing willingness of consumers to buy premium products for ethnic and new flavors is creating a huge demand for seasonings and spices globally. The advent of ready-to-spice-mixes has emerged as a convenient option to people and is likely to create several lucrative growth opportunities in the global market. The hectic and busy lifestyle of people is inducing them to buy ready-to-use spices products for instant cooking. In addition, the growing awareness among people regarding the health benefits of these spices will further accentuate their demand. For instance, turmeric is known to be a rich source of antioxidants and help in curing several diseases including cancer, joint inflammation, and Alzheimer’s.
The global seasonings and spices market can be segmented into application, product, and region.
By application, the market can be segmented into beverages, soups, sauces & dressings, frozen foods, meat & poultry products, bakery & confectionery products, and others. The soups, sauces & dressings segment holds the largest share in the global market due to the growing trend of consuming salads globally.
By product, the market can be segmented into spices, salt & salt substitutes, herbs, and others. The spices segment accounts for the largest share in the global market, owing to the growing awareness among consumers regarding the health benefits of these varied spices.
Asia Pacific accounts for the largest share in the global seasonings and spices market due to the high production and consumption of seasoning and spices in the region. Such high consumption can be attributed to the Asian tradition that has been passed from one generation to another owing to their health properties and their ability to enhance the flavor of foods.
North America is expected to be the fastest-growing region in the global market due to the surge in the consumption of salad dressing in the region. Also, the surging popularity of ethnic foods, along with the wide availability of spices and seasonings in the supermarkets, will also accentuate their demand.
Some of the significant players in the global seasonings and spices market are Kraft Foods, Knorr, MDH Spices, Catch, Everest Spices, Ajinomoto, Nestle, McCormick & Company, Worlée Gruppe, SHS Group, and Sensient Technologies Corporation. To cite, Kerry, in Feb 2021, announced the acquisition of Jining Nature Group. This initiative will bring a wide range of authentic local and regional taste technologies and application capabilities to the Kerry’s portfolio.
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