Market Highlights

MRFR recognizes the following companies as the key players in the global Spices market — McCormick & Company Inc. (US), Frontier Co-op (US), Colorado Spice (US), SpicesInc.com (US), The Watkins Co. (US), Organic Tattva (India), and Organic Spices Inc (US).

The global Spices market is accounted to register a CAGR of 4.33% during the forecast period and is estimated to reach USD 20.9 billion by 2030.

The Spices Market refers to the global trade and consumption of various dried plant parts used to enhance the flavor, aroma, and color of food and beverages. Spices are derived from seeds, roots, bark, or fruits of plants and are widely used in culinary applications, as well as in the pharmaceutical and cosmetic industries, due to their medicinal and aromatic properties. The market offers a diverse range of spices, including popular ones like pepper, cinnamon, cumin, and turmeric, catering to the diverse tastes and preferences of consumers worldwide.

𝗧𝗵𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗶𝘀 𝗣𝗿𝗶𝗰𝗲𝗱 𝗮𝘁 𝗖𝗹𝗶𝗰𝗸 𝗛𝗲𝗿𝗲 𝘁𝗼 𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗦𝗮𝗺𝗽𝗹𝗲 : https://www.marketresearchfuture.com/sample_request/1644

Segment Analysis

The global Spices market has been segmented based on Type, Category, Form and End Use.

On the basis of Type, the market is segmented into garlic, ginger, turmeric, cumin, cinnamon, pepper and others. According to market data for spices in 2022, the pepper category held the lion’s share. People have used pepper, an aromatic spice manufactured from the fruit peppercorn, since ancient times.

Based on Category, the global Spices market has been segmented into Organic and Conventional. In 2022, the organic category dominated market growth, and it is anticipated that segment will develop more quickly throughout the forecast period, 2022–2030.

Based on Form, the global Spices market has been segmented into form, includes whole, ground/powder and others The ground/powder segment dominated the spices market revenue in 2022 and is projected to be the faster-growing segment during the forecast period 2022–2030.

Based on End Use, the global Spices market has been segmented into food retail, food service and food processing. In 2022, the food processing category dominated the market. From 2022 to 2030, it is anticipated to develop at a higher rate.

Regional Analysis

The global Spices market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Spices market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Spices market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Spices market comprises of Middle East, Africa, and Latin America.

The Asia-Pacific Spices Market dominated this market in 2022. With a share of over 45.80% in 2022’s USD 7.1 billion, it is anticipated to rise at a substantial CAGR during the study period. One of the main regions for the production and export of spices is Asia Pacific. The region, which has the biggest population in the globe, has seen a huge increase in the need for spices.

Additionally, the second-largest market share for Spices is held by North America. Due to new industries growing in the United States and Canada that use spices for reasons other than food flavouring, it is projected that the industry will expand over the coming years. The demand for varied cuisines and the growing appeal of ready-to-eat and convenience meals have both spurred the growth of the region’s spice industry.

From 2022 to 2030, the Asia Pacific spices market is anticipated to experience the fastest CAGR growth. Due to the region’s shifting demographics and way of life, the regional market is growing. Spices that are frequently consumed in the region include pepper, paprika, pimento, cinnamon, and others.

Additionally, the UK spice market had the biggest market share, while the spice market in Germany was expanding at the quickest rate in the region.

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Key Findings of the Study

• The global Spices market is expected to reach USD 20.9 billion by 2030, at a CAGR of 4.33% during the forecast period.
• The Asia-Pacific Spices Market dominated this market in 2022. With a share of over 45.80% in 2022’s USD 7.1 billion, it is anticipated to rise at a substantial CAGR during the study period.
• Based on Category, In 2022, the organic category dominated market growth.
• McCormick & Company Inc. (US), Frontier Co-op (US), Colorado Spice (US), SpicesInc.com (US), The Watkins Co. (US), Organic Tattva (India), and Organic Spices Inc (US).