Organic Spices Market Witness Skyrocketing Sales Due to Increased Global Demands for Organic Spices - Future Market Insights, Inc.

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Jul 15, 2022, 07:30 ET

North America organic spices market is expected to reach US$ 1.7 Bn in 2022, and is forecast to grow with CAGR of 2.7% over the forecast period 2032. Key manufacturers of organic spices are SunOpta Inc., Organic Spices Inc., Live Organics, Unilever, S&B Foods Inc., DS Group, McCormick & Company, Inc, Monterey Bay Spice Co.

NEWARK, Del., July 15, 2022 /PRNewswire/ -- The total sales in the organic species market are likely to account for 6.4% of the global species market in 2022. The global organic spices market is expected to develop at a 4.6 percent CAGR, reaching a value of US$ 9.8 billion in 2022.

Consumer tastes are shifting due to changing lifestyles and higher disposable incomes. The demand for spices is expected to increase in response to the increasing production and sales of processed food items such as soups, sauces, dressings, and condiments. These spices are being used to enhance the flavor, taste, and color of processed food products.

FMI presents a comparative analysis of the market growth rates and development prospects in the global organic spices market. According to the Future Market Insights analysis, demand in the global organic spices market is expected to rise with a robust CAGR of 4.6% during the forecast years of 2022-2032.

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Key Takeaways

Lifestyle changes and higher disposable income are the primary factors that are expected to increase demand for spices resulting in increased production.
Increased demand for processed food items such as dressings, sauces, soups and condiments have led to the increased demand for spices. Since these spices are used to enhance the flavor, color and taste of the food, it is massively used in processed food products.
The demand for spices has been continuously increasing as a result of increased awareness and desire for organic goods. People are becoming increasingly concerned about food safety and health risks associated with processed foods, which has resulted in a surge in demand for organic spices.
The consumption of spices is becoming more popular due to a shift in culinary tastes. To improve the volume of production, farmers are also focusing on novel methods of growing herbs and spices.
Organic products, such as food, beverages, and even spices, are in high demand all over the world. As a result, the market revenue for organic spices will not fall in Covid-19.
On a global scale, India's organic spices market share is at an all-time high, and the entire spice sector has seen phenomenal growth in the last few years.

Competitive Landscape

SunOpta Inc., Organic Spices Inc., Live Organics, Unilever, S&B Foods Inc., DS Group, McCormick & Company, Inc., Monterey Bay Spice Co., Yogi Botanicals, The Spice House and Spices Inc., Earthly Delight are some of the key companies profiled in the full version of the report.

In order to meet rising demand, key players in the food processing industry are expanding their production capacity. As it is not economic for processed food makers to utilize salt and sugar in excess, the usage of herbs and spices is increasing, as it lowers costs while improving the taste of the food product.

Key players operating in the organic spices market are investing in mergers and acquisitions, product innovation, and production capacity expansion to gain a competitive edge in the market.

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Key players operating in the organic spices market are investing in mergers and acquisitions, product innovation, and production capacity expansion to gain a competitive edge in the market.

More Insights into the Organic Spices Market

The presence of a vast food and beverage industry in the U.S. is expected to boost sales of organic spices in the forthcoming years. Total sales in the U.S. are expected to hold 87% of the North American organic spices market share, with demand growing at a 2.8% CAGR over the assessment period.

Shifting preference from conventional food products to organic food products will continue pushing sales in the market. According to the Organic Trade Association, in 2019, sales of organic food products in the U.S totaled US$ 50.1 Bn. This trend is expected to continue over the forecast period as well.

As per FMI, Germany is estimated to hold more than 18.0% of the Europe organic spices market share in 2022, with sales growing at a 2% CAGR through 2032.

Even though the production of spices in Germany is low, it is one of the leading countries in the consumption of organic spices in Europe. Increasing emphasis on a healthy lifestyle is spurring demand for organic ingredients.

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India is expected to dominate the South Asia organic spices market, with sales growing at a 4% CAGR, accounting for 30% of the South Asia market share.

Social media influence, along with rising awareness regarding the benefits of organic spices is encouraging consumers to use organic spices in their daily diets.

Organic Spices Market by Category

By Product Type:

Ginger
Turmeric
Basil
Cumin
Cinnamon
Clove
Pepper
Garlic

By Form:

Powder & Granules
Flakes
Paste
Whole/Fresh

By End Use:

Food
Beverage
Food Service
Retail

By Distribution Channel:

Direct
Indirect

Store-based Retailing

Hypermarket/Supermarket
Convenience Stores
Traditional Grocery Retailers
Food & Drink Specialty Stores

Online Retail

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
The Middle East and Africa

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About FMI- Food and Beverage Market

In the latest study, FMI offers a detailed study of the global food and beverage industry for the forecast period of 2022-2032. This study also highlights key drivers promoting sales of the organic spices market through detailed segmentation. Our research studies serve as referencing market guidelines for key industry manufacturers, channel partners, and government bodies.

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