The global seasonings and spices market will have advanced at a CAGR of 5.4% by the end of the decade, to reach a value of USD 56,796 million by 2030.
The food industry now focuses on providing pleasure rather than mere sustenance, especially in developed countries. Offering diverse ethnic cuisines has become an excellent opportunity for players in the industry. To satisfy the changing taste preferences, restaurants continuously modify their menus to cater to the evolving consumer demands.
France, one of the largest markets in Europe is also a giant in organic foods and beverages market.
The growing multicultural population and the desire to explore regional cuisines have led to increased travel and the increased demand for spices and seasonings. Restaurants and food vendors worldwide are incorporating a range of spices such as ginger, pepper, anise, chili, curry, cardamom, cassia cloves, cinnamon, nutmeg, and fennel to enhance the flavors of ethnic cuisines.
Browse detailed - Seasonings and Spices Market Revenue Estimation and Growth Forecast Report
The industry is experiencing growth worldwide, with increased consumption of processed food products, particularly in developed economies. This trend has led to higher spending on confectionery products, baked goods, and ready-to-eat foods.
There has been a significant surge in demand for meat and poultry products, leading to the booming growth in the demand for spices and seasonings. The market will be impacted by substantial investments in meat and poultry production in China and India.
Whole spices and seasonings had the larger share of 52% in the past, while the ground category is the faster-growing, at a CAGR of 5.7%. This is due to high demand from various, food service, and retail sectors.
The demand for seasonings and spices is growing mainly because of the increasing demand for ethnic cuisines all over the world.
The food industry now focuses on providing pleasure rather than mere sustenance, especially in developed countries. Offering diverse ethnic cuisines has become an excellent opportunity for players in the industry. To satisfy the changing taste preferences, restaurants continuously modify their menus to cater to the evolving consumer demands.
France, one of the largest markets in Europe is also a giant in organic foods and beverages market.
The growing multicultural population and the desire to explore regional cuisines have led to increased travel and the increased demand for spices and seasonings. Restaurants and food vendors worldwide are incorporating a range of spices such as ginger, pepper, anise, chili, curry, cardamom, cassia cloves, cinnamon, nutmeg, and fennel to enhance the flavors of ethnic cuisines.
Browse detailed - Seasonings and Spices Market Revenue Estimation and Growth Forecast Report
The industry is experiencing growth worldwide, with increased consumption of processed food products, particularly in developed economies. This trend has led to higher spending on confectionery products, baked goods, and ready-to-eat foods.
There has been a significant surge in demand for meat and poultry products, leading to the booming growth in the demand for spices and seasonings. The market will be impacted by substantial investments in meat and poultry production in China and India.
Whole spices and seasonings had the larger share of 52% in the past, while the ground category is the faster-growing, at a CAGR of 5.7%. This is due to high demand from various, food service, and retail sectors.
The demand for seasonings and spices is growing mainly because of the increasing demand for ethnic cuisines all over the world.