Global Seasoning and Spices Market Grows Steadily at a CAGR of 5.5%

Introduction

Seasonings and spices are added to food and drink to improve their flavor, aroma, color, and overall experience. Sometimes they even have antibacterial or preservation properties. Spices and seasonings are now used not just for their flavor and taste but also for their health benefits. They are used in food to treat a variety of illnesses and conditions due to their antioxidant properties. For example, turmeric has potent antioxidant properties and can be used to treat conditions like Alzheimer's disease, cancer, and inflammatory joint pain. Cumin seeds are an immune system booster and natural antiseptic. They have medical and cosmetic applications as well.

Market Dynamics

Increasing Popularity of Ethnic Cuisines Drives the Global Market

The expansion of the seasoning and spice market has been fueled by the willingness of consumers to sample new flavors and ethnic tastes, which has increased the demand for ethnic products. Due to the cuisine's natural flavors and mild seasoning, Japanese restaurants have flourished in developed nations such as the United States and Europe. Similarly, the number of Mexican, Italian, Indian, and Chinese restaurants serving ethnic cuisines has expanded worldwide.

In addition, the market has been propelled by increased demand for authentic ingredients and a combination of ethnic flavors. In Latin cuisine, essential spices and seasonings include jalapeno pepper, taco seasoning, chili powder, fajita seasoning mix, chipotle, cilantro, cumin, cinnamon, and paprika. The majority of Mexican restaurants offer spice combinations for their authentic dishes. The food service industry in the US has been utilizing these products to satisfy the demand for Mexican cuisine among both immigrant and native consumers.

Health Benefits of Spices and Herbs Creates Tremendous Opportunities

Seasonings and spices are among the most widely used cooking ingredients globally. Most dishes require seasonings and spices, which has increased consumer demand for these items. In addition, the increasing interest in regional ethnic cuisines has increased the product's global adoption. Numerous botanicals, such as the Sirtfood and Paleo diets, pair well with modern eating styles. Therefore, the global adoption of these products has been increasing.

Many people consume spices and botanicals for their health benefits. For example, the COVID-19 outbreak has increased demand for herbs and spices that help prevent colds and enhance immunity. Further, several spices and botanicals are marketed as salt substitutes. Therefore, Mint, nutmeg, basil, Rosemary, cardamom, cinnamon, chile, chives, coriander, cumin, ginger, dill, Oregano, paprika, sage, thyme, parsley, and turmeric are becoming increasingly popular in a variety of cuisines. Large food companies, such as Unilever, have been substituting botanicals for salt in their recipes to reduce sodium intake. Such factors create opportunities for market growth over the forecast period.

Regional Analysis

Asia-Pacific is the most significant global seasoning and spices market shareholder and is expected to grow at a CAGR of 6.5% over the forecast period. The high consumption of herbs is primarily attributable to Asian traditions, passed down from generation to generation to enhance food's flavor and medicinal properties. In Asian countries, particularly India, garlic is used in various dishes, including curry powders, pickles, curried vegetables, tomato ketchup, and beef. In addition, the region's steadily expanding middle class has increased protein consumption. According to a report by Asia Research and Engagement (ARE), the consumption of seafood and livestock in Asia is projected to increase by 33% by 2030. This expansion will enhance the use of seasonings and spices in the meat and poultry industry.

North America is estimated to exhibit a CAGR of 6.1% over the forecast period. Black pepper and cinnamon are the most extensively imported spices in the United States. Cumin, paprika, and turmeric have become popular in the food service industry as menus have expanded to include international cuisines such as Indian, Korean, and Ethiopian. The proliferation of gluten-free, high-fiber, and low-carb products has fueled the confectionary industry due to the rise in health-conscious consumers nationwide. This is likely to influence the demand for bakery and confectionery seasonings directly. The market will also be driven by a growing interest in novel flavors and healthier ingredients during the projected period.

Key Highlights 

• The global seasoning and spices market was valued at USD 22.15 billion in 2022. It is expected to reach USD 35.62 billion by 2031 at a CAGR of 5.5% during the projected period (2023–2031).
• Based on product, the global seasoning and spices market is broadly divided into herbs (Rosemary, Fennel, Garlic, Mint, parsley, Oregano, and others), salt and salt substitutes, and spices (pepper, ginger, cinnamon, cumin, turmeric, cardamom, coriander, cloves, and others). The spices segment dominates the global market and is predicted to exhibit a CAGR of 6.01% during the forecast period.
• By application, the global seasoning and spices market is bifurcated into bakery and confectionery products, meat and poultry products, frozen food, soups, sauces and dressings, beverages, and others. The meat and poultry product segment owns the largest market share and is predicted to exhibit a CAGR of 6.61% during the forecast period.
• Asia-Pacific is the most significant global seasoning and spices market shareholder and is expected to grow at a CAGR of 6.5% over the forecast period.

Competitive Players

Competitive Players 

The key global seasoning and spices market companies are Ajinomoto Co, Inc., Ariake Japan Co, Ltd., Associated British Foods plc, Kerry Group, and McCormick & Company, Inc., among others. 

Recent Developments

Market News

• In April 2023, Tabitha Brown’s five new McCormick seasonings promised bold flavor, from barbecue to burgers.
• In January 2023, Dabur acquired a 51% majority stake in Badshah Masala.

Segmentation

Global Seasoning and Spices Market: Segmentation

By Product

• Herbs
  • Rosemary
  • Fennel
  • Garlic
  • Mint
  • Parsley
  • Oregano
  • Others
• Salt and Salt Substitutes
• Spices

By Applications

• Bakery and Confectionery Products
• Meat and Poultry Products
• Frozen Food
• Soups
• Sauces and Dressings
• Beverages
• Others

By Regions

• North America 
• Europe 
• Asia-Pacific
• The Middle East and Africa
• Central and South America