Spices market size to grow by USD 2,607.46 million from 2022 to 2027, Growing awareness of the medical benefits of spices to boost the market - Technavio

NEW YORK, Oct. 30, 2023 /PRNewswire/ -- The global spices market size is estimated to grow by USD 2,607.46 million from 2022 to 2027, according to Technavio. The market is expected to grow at a CAGR of 6.97% during the forecast period. Moreover, the growth momentum will accelerate. The growing awareness of the medical benefits of spices is driving market growth. Spices have antioxidant properties that can be used to treat health issues. For instance, turmeric helps fight against diseases such as joint inflammation. Therefore, the demand for spices has increased. Spice companies have started advertising on social media platforms such as Facebook, Pinterest, and Twitter to promote their brands. These factors will fuel the growth of the market in focus during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

The threat of contamination of spices is challenging the market growth. Contamination can occur during any stage of the supply chain, such as farm and production sites, packaging, distribution, and storage. The use of artificial ingredients can also affect the final product. Moreover, food regulatory and compliance authorities can issue a notice to the manufacturer if a product poses health risks, which can lead to product recalls. This, in turn, can affect the revenue and reputation of the manufacturer. Such factors will hinder the growth of the global market during the forecast period.

What's New?

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/active/niche/trivial - Buy the report!

Spices market - Segmentation assessment
Segment overview
Technavio has segmented the market based on product type (powder, whole, and crushed/chopped) and end-user (household, food services, and industrial). 

• The powder segment will account for a significant share of the market growth during the forecast period. Powdered spices are popular in South Asian countries such as India, Nepal, and China. For instance, in India, Garam Masala is a spice blend used to flavor soups, stews, and curries. It is a mix of flavors such as cardamom, cinnamon, cloves, and peppercorns. It offers many health benefits, such as regulating blood pressure, increasing nutrient absorption capacity, reducing inflammation, and improving heart health. These factors will positively impact the growth of the segment during the forecast period.

Geography Overview
Based on geography, the global spices market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global spices market.

• APAC is estimated to account for 30% of the growth of the global market during the forecast period. India, China, Japan, South Korea, Australia, Thailand, and Singapore are some of the key countries in the market in the region. The growth of the regional market is attributed to factors such as increasing health consciousness, rising awareness about different types of spices, growth in spending by the Millennial, Generation X, and Baby Boomer populations, the introduction of global spice brands, and increasing adoption of traditional recipes. APAC is a leading producer and exporter of spices and herbs. The consumption of spices in the region is growing at a fast rate, with increasing consumer incomes, the emergence of many domestic brands, and the growing marketing and promotional activities.

Insights on the market contribution of various segments, including country- and region-wise historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a sample report

Spices market – Vendor analysis

The report includes a detailed analysis of key market vendors, including Ajinomoto Co. Inc., BARIA SPICES CO. LTD., Baron Spices and Seasonings, Blink Commerce Pvt. Ltd., British Pepper and Spice Co. Ltd., Dohler GmbH, DS Group, EVEREST Food Products Pvt. Ltd., Innovative Retail Concepts Pvt. Ltd., Kerry Group Plc, Kikkoman Corp., Mahashian Di Hatti Pvt. Ltd., Master of Spices, McCormick and Co. Inc., More Retail Pvt. Ltd., Olam Group Ltd., Rumi Spice, Shanuga Spices Pvt. Ltd, Spicy Organic LLC, Tata Sons Pvt. Ltd., Tesco Plc, The Bart Ingredients Co., The Speculaas Spice Co. Ltd., UK Blending Ltd., VLC Spices, and World of Spice Ltd.

Spices market – Leading trends influencing the market 

• The rising number of private-label brands is a key trend in the market.
• Various private-label brands sell different types of spices to improve their profitability.
• For instance, several retailers in India, such as Star Bazar by TATA, Blinkit, and Big Basket, offer a wide range of spices through their private-label brands.
• Similarly, UK-based retailer, Tesco Plc offers spices under its brand Tesco.
• Walmart also sells a wide range of spices, such as black pepper, pink salt, peppercorn medley, Himalayan pink salt, and Rosemary grinder, through its brand and subsidiary Sam's Club.
• Such factors will drive the growth of the global market during the forecast period.

Insights on market Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this spices market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the spices market between 2023 and 2027
• Precise estimation of the size of the spices market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the spices market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of spices market vendors

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:

The spices and seasonings market is estimated to grow at a CAGR of 6.01% between 2022 and 2027. The size of the market is forecasted to increase by USD 6,957.05 million. The growing awareness of the medical benefits of spices is notably driving the market growth, although factors such as the threat of contamination may impede the market growth.

The size of the blended spices market in India is expected to rise by USD 896.57 million from 2021 to 2026 at a CAGR of 14.27%. The rising awareness about the health benefits of blended spices is notably driving the blended spices market growth in India , although factors such as fluctuations in prices of blended masala ingredients may impede the market growth.

Browse for Technavio consumer staples market reports

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global spices market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global spices market 2017 - 2021 (USD million)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 (USD million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (USD million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product Type

• 6.1 Market segments 
• Exhibit 30: Chart on Product Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product Type - Market share 2022-2027 (%)

• 6.2 Comparison by Product Type 
• Exhibit 32: Chart on Comparison by Product Type
• Exhibit 33: Data Table on Comparison by Product Type

• 6.3 Powder - Market size and forecast 2022-2027
• Exhibit 34: Chart on Powder - Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on Powder - Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on Powder - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Powder - Year-over-year growth 2022-2027 (%)

• 6.4 Whole - Market size and forecast 2022-2027
• Exhibit 38: Chart on Whole - Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on Whole - Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on Whole - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Whole - Year-over-year growth 2022-2027 (%)

• 6.5 Crushed/chopped - Market size and forecast 2022-2027
• Exhibit 42: Chart on Crushed/chopped - Market size and forecast 2022-2027 (USD million)
• Exhibit 43: Data Table on Crushed/chopped - Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Chart on Crushed/chopped - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Crushed/chopped - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product Type 
• Exhibit 46: Market opportunity by Product Type (USD million)
• Exhibit 47: Data Table on Market opportunity by Product Type (USD million)

7 Market Segmentation by End-user

• 7.1 Market segments 
• Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 50: Chart on Comparison by End-user
• Exhibit 51: Data Table on Comparison by End-user

• 7.3 Household - Market size and forecast 2022-2027
• Exhibit 52: Chart on Household - Market size and forecast 2022-2027 (USD million)
• Exhibit 53: Data Table on Household - Market size and forecast 2022-2027 (USD million)
• Exhibit 54: Chart on Household - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Household - Year-over-year growth 2022-2027 (%)

• 7.4 Food services - Market size and forecast 2022-2027
• Exhibit 56: Chart on Food services - Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Food services - Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Food services - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Food services - Year-over-year growth 2022-2027 (%)

• 7.5 Industrial - Market size and forecast 2022-2027
• Exhibit 60: Chart on Industrial - Market size and forecast 2022-2027 (USD million)
• Exhibit 61: Data Table on Industrial - Market size and forecast 2022-2027 (USD million)
• Exhibit 62: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 64: Market opportunity by End-user (USD million)
• Exhibit 65: Data Table on Market opportunity by End-user (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 83: Chart on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on South America - Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 107: Chart on India - Market size and forecast 2022-2027 (USD million)
• Exhibit 108: Data Table on India - Market size and forecast 2022-2027 (USD million)
• Exhibit 109: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography (USD million)
• Exhibit 112: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Ajinomoto Co. Inc. 
• Exhibit 119: Ajinomoto Co. Inc. - Overview
• Exhibit 120: Ajinomoto Co. Inc. - Business segments
• Exhibit 121: Ajinomoto Co. Inc. - Key news
• Exhibit 122: Ajinomoto Co. Inc. - Key offerings
• Exhibit 123: Ajinomoto Co. Inc. - Segment focus

• 12.4 BARIA SPICES CO. LTD. 
• Exhibit 124: BARIA SPICES CO. LTD. - Overview
• Exhibit 125: BARIA SPICES CO. LTD. - Product / Service
• Exhibit 126: BARIA SPICES CO. LTD. - Key offerings

• 12.5 British Pepper and Spice Co. Ltd. 
• Exhibit 127: British Pepper and Spice Co. Ltd. - Overview
• Exhibit 128: British Pepper and Spice Co. Ltd. - Product / Service
• Exhibit 129: British Pepper and Spice Co. Ltd. - Key offerings

• 12.6 Dohler GmbH 
• Exhibit 130: Dohler GmbH - Overview
• Exhibit 131: Dohler GmbH - Product / Service
• Exhibit 132: Dohler GmbH - Key offerings

• 12.7 DS Group 
• Exhibit 133: DS Group - Overview
• Exhibit 134: DS Group - Product / Service
• Exhibit 135: DS Group - Key offerings

• 12.8 EVEREST Food Products Pvt. Ltd. 
• Exhibit 136: EVEREST Food Products Pvt. Ltd. - Overview
• Exhibit 137: EVEREST Food Products Pvt. Ltd. - Product / Service
• Exhibit 138: EVEREST Food Products Pvt. Ltd. - Key offerings

• 12.9 Kerry Group Plc 
• Exhibit 139: Kerry Group Plc - Overview
• Exhibit 140: Kerry Group Plc - Business segments
• Exhibit 141: Kerry Group Plc - Key offerings
• Exhibit 142: Kerry Group Plc - Segment focus

• 12.10 Kikkoman Corp. 
• Exhibit 143: Kikkoman Corp. - Overview
• Exhibit 144: Kikkoman Corp. - Business segments
• Exhibit 145: Kikkoman Corp. - Key offerings
• Exhibit 146: Kikkoman Corp. - Segment focus

• 12.11 Mahashian Di Hatti Pvt. Ltd. 
• Exhibit 147: Mahashian Di Hatti Pvt. Ltd. - Overview
• Exhibit 148: Mahashian Di Hatti Pvt. Ltd. - Product / Service
• Exhibit 149: Mahashian Di Hatti Pvt. Ltd. - Key offerings

• 12.12 Master of Spices 
• Exhibit 150: Master of Spices - Overview
• Exhibit 151: Master of Spices - Product / Service
• Exhibit 152: Master of Spices - Key offerings

• 12.13 McCormick and Co. Inc. 
• Exhibit 153: McCormick and Co. Inc. - Overview
• Exhibit 154: McCormick and Co. Inc. - Business segments
• Exhibit 155: McCormick and Co. Inc. - Key offerings
• Exhibit 156: McCormick and Co. Inc. - Segment focus

• 12.14 Olam Group Ltd. 
• Exhibit 157: Olam Group Ltd. - Overview
• Exhibit 158: Olam Group Ltd. - Business segments
• Exhibit 159: Olam Group Ltd. - Key news
• Exhibit 160: Olam Group Ltd. - Key offerings
• Exhibit 161: Olam Group Ltd. - Segment focus

• 12.15 The Bart Ingredients Co. 
• Exhibit 162: The Bart Ingredients Co. - Overview
• Exhibit 163: The Bart Ingredients Co. - Product / Service
• Exhibit 164: The Bart Ingredients Co. - Key offerings

• 12.16 The Speculaas Spice Co. Ltd. 
• Exhibit 165: The Speculaas Spice Co. Ltd. - Overview
• Exhibit 166: The Speculaas Spice Co. Ltd. - Product / Service
• Exhibit 167: The Speculaas Spice Co. Ltd. - Key offerings

• 12.17 UK Blending Ltd. 
• Exhibit 168: UK Blending Ltd. - Overview
• Exhibit 169: UK Blending Ltd. - Product / Service
• Exhibit 170: UK Blending Ltd. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 173: Currency conversion rates for USUSD

• 13.4 Research methodology 
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED