Spice market is growing.
Global Seasonings and Spices Market Size, Share, Development, Growth and Demand Forecast to 2020 – Industry Insights by Product (Salt, Pepper, Dried Herbs, Individual and Mixed Spices, Salt Substitutes, Others)
Seasonings and spices form an integral part of any cuisine, as they are responsible for developing the taste and aroma associated with the cuisine. Globalization and varying demographics, and medicinal benefits of spices are some of the factors, driving the growth of the global seasonings and spices market. The consumers trying new and expensive food items and changing food habits is a key trend that can be seen in the global market. The salt segment holds a significant share in the global seasonings and spices market, followed by the pepper segment. Globally, the salt segment accounted for the largest share in the European market (by value) in 2014, followed by North America. Asia-Pacific dominated the salt segment of the global market by volume in 2014.
Seasonings and spices, as mentioned in the report are used to enhance the flavor and taste of food. Spices come from the bark, buds, seeds, roots, leaves, stems or fruits of aromatic trees and plants. The market of seasonings and spices can be segmented on the basis of products into salt, pepper, dried herbs, individual and mixed spices, salt substitutes, others. On the basis of distribution channels, the global market is segmented, as supermarkets and hypermarkets, convenience stores, food and drink specialists, and others. Globalization and varying demographics, and medicinal benefits of spices are some of the factors driving the growth of the global seasonings and spices market. As people travel to different countries, they spread their food habits and different ethnic cultures into various parts of the world. As people are aware of different trades, cultures and food habits, globalization plays a major part in driving the growth of the global market. Consumers trying new and expensive food items and changing food habits is a key trend that can be seen in the global market. Further, the increasing demand from organic seasonings and spices and online marketing campaigns are expected to give a major boost to the growth of the global market in the near future. Consumers across the world prefer natural products, owing to increasing awareness about healthy food products. Presently, the organic segment accounts for about 10% share of the total seasonings and spices market; however the segment is expected to grow in the next few years. The consumers’ attraction towards new tastes is also a major factor driving the growth of the global market.
The growing population in developing countries, such as China and India is a major driving force which is influencing the growth of the global market. The improved standard of living which allows users to spend more on quality food items is another factor driving the growth of the seasonings and spices market. The varying consumer tastes and increase in demand for convenient food products are the major growth driving factors for the global market. In 2014, Europe was the largest market by value, among the various regions of the global seasonings and spices market; while Asia-Pacific was the largest market by volume