Market Overview:
The global spice and ingredients market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for spices and ingredients in food, beverage, retail, cosmetics, pharmaceuticals and other industries. Cardamom is projected to be the fastest-growing type of spice during the forecast period. North America is expected to dominate the global spice and ingredients market followed by Europe, Asia Pacific and Latin America respectively.
Product Definition:
Spice is a substance used to add flavor to food. Herbs and spices are often used to make food more palatable. Some spices, such as salt and black pepper, are also used as preservatives.
Cardamom:
Cardamom is a spice that has been used for thousands of years in various foods and beverages. It is the seed of a plant called Elettaria cardamomum, which is native to India and Myanmar. The seeds are dry and black with an almond-like shape. They contain essential oils that have a strong aroma similar to vanilla or coffee along with other flavors including butterscotch, chocolate, citrus fruits among others.
Cinnamon:
Cinnamon is a spice that has been used by humans for thousands of years. It is the dried, aromatic bark of several Cinnamomum plants, from various parts of the world. Cinnamon can be found in both fresh and ground forms in supermarkets and specialty stores across the globe. The ground form can be used as an alternative to black pepper or nutmeg in many recipes; however, it must always be purchased from a reliable source to ensure its quality and safety.
Application Insights:
The food industry accounted for more than 50.0% of the global market share in 2017 and is expected to continue its dominance over the forecast period. The growing population, rapid urbanization, and changing dietary habits are leading to an increased demand for spices in the food industry across various applications such as bakery & confectionery, meat & poultry products, sauces & dressings, vegetables & fruits.
The beverage industry also accounted for a significant share of the global revenue in 2017 owing to rising consumption of flavored beverages such as tea drinks carbonated soft drinks around the world. Spices have been used since antiquity as flavor enhancers in beverages which has led them being one ofthe most popular ingredient used across all segments especially where flavors are concerned with strong aromas or tastes that enhance specific characteristics inherent to a particular beverage type e.g.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Bangladesh, Myanmar and Thailand. These countries are witnessing strong economic growth owing to rapid industrialization and urbanization. Growing population along with rising living standards have spurred the demand for spices in this region as they help enhance food flavors while reducing bitterness or sourness caused by chemical compounds added during processing or preparation of food items.
The Asia Pacific has been one of the most lucrative regions for spice producers due to high product demand coupled with increasing exports from key producing countries such as India and Indonesia. Furthermore, growing consumer awareness regarding health benefits associated with certain spices will also drive industry growth over the next eight years in this region.
Growth Factors:
- Increasing demand for convenience foods: The growing demand for convenience foods is one of the key growth drivers for the spice and ingredients market. Convenience foods are those that can be easily prepared and do not require a lot of time or effort to cook. This has led to an increase in the demand for pre-packaged spices, which are easy to use and do not require any additional preparation.
- Rising disposable income: Another key growth driver for the spice and ingredients market is rising disposable income levels in developing countries. This has led to an increase in spending on food, which in turn is driving the demand for spices and other ingredients used in cooking food items.
- Growing popularity of ethnic cuisine: The growing popularity of ethnic cuisine is another major factor driving the growth of the spice and ingredients market worldwide. Ethnic cuisine refers to traditional dishes from various cultures around the world that use unique spices and flavors to create distinctive flavorsome dishes. This trend has led to an increase in demand for different types of spices, which are essential components of ethnic cuisine recipes .
Scope Of The Report
Report Attributes
Report Details
Report Title
Spice and Ingredients Market Research Report
By Type
Cardamom, Cinnamon, Clove, Chili Powder, Pepper, Turmeric, Cumin Seed, Others
By Application
Food Industry, Beverage Industry, Retail, Cosmetics, Pharmaceuticals, Others
By Companies
McCormick, Worlee, Prymat, Olam International, Jain Spices, Krauter Mix, SABATER Spices, El Clarin Spices, ROYAL SPICES, Elite Spice, Everest Masala, Mahashian Di Hatti (MDH), British Pepper and Spice, Cinnatopia, Touton, Apple Flavor and Fragrance Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
233
Number of Tables & Figures
164
Customization Available
Yes, the report can be customized as per your need.
Global Spice and Ingredients Market Report Segments:
The global Spice and Ingredients market is segmented on the basis of:
Types
Cardamom, Cinnamon, Clove, Chili Powder, Pepper, Turmeric, Cumin Seed, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Industry, Beverage Industry, Retail, Cosmetics, Pharmaceuticals, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- McCormick
- Worlee
- Prymat
- Olam International
- Jain Spices
- Krauter Mix
- SABATER Spices
- El Clarin Spices
- ROYAL SPICES
- Elite Spice
- Everest Masala
- Mahashian Di Hatti (MDH)
- British Pepper and Spice
- Cinnatopia
- Touton
- Apple Flavor and Fragrance Group
Highlights of The Spice and Ingredients Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cardamom
- Cinnamon
- Clove
- Chili Powder
- Pepper
- Turmeric
- Cumin Seed
- Others
- By Application:
- Food Industry
- Beverage Industry
- Retail
- Cosmetics
- Pharmaceuticals
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Spice and Ingredients Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Spice is a seasoning that comes from various plants and herbs. It can be used to add flavor to food or as a preservative. Some common spices include black pepper, cumin, chili powder, garlic, and ginger.
Some of the major companies in the spice and ingredients market are McCormick, Worlee, Prymat, Olam International, Jain Spices, Krauter Mix, SABATER Spices, El Clarin Spices, ROYAL SPICES, Elite Spice, Everest Masala, Mahashian Di Hatti (MDH), British Pepper and Spice, Cinnatopia, Touton, Apple Flavor and Fragrance Group.
The spice and ingredients market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Spice and Ingredients Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Spice and Ingredients Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Spice and Ingredients Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Spice and Ingredients Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Spice and Ingredients Market Size & Forecast, 2020-2028
4.5.1 Spice and Ingredients Market Size and Y-o-Y Growth
4.5.2 Spice and Ingredients Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cardamom
5.2.2 Cinnamon
5.2.3 Clove
5.2.4 Chili Powder
5.2.5 Pepper
5.2.6 Turmeric
5.2.7 Cumin Seed
5.2.8 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food Industry
6.2.2 Beverage Industry
6.2.3 Retail
6.2.4 Cosmetics
6.2.5 Pharmaceuticals
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Spice and Ingredients Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Spice and Ingredients Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cardamom
9.6.2 Cinnamon
9.6.3 Clove
9.6.4 Chili Powder
9.6.5 Pepper
9.6.6 Turmeric
9.6.7 Cumin Seed
9.6.8 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food Industry
9.10.2 Beverage Industry
9.10.3 Retail
9.10.4 Cosmetics
9.10.5 Pharmaceuticals
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cardamom
10.6.2 Cinnamon
10.6.3 Clove
10.6.4 Chili Powder
10.6.5 Pepper
10.6.6 Turmeric
10.6.7 Cumin Seed
10.6.8 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food Industry
10.10.2 Beverage Industry
10.10.3 Retail
10.10.4 Cosmetics
10.10.5 Pharmaceuticals
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cardamom
11.6.2 Cinnamon
11.6.3 Clove
11.6.4 Chili Powder
11.6.5 Pepper
11.6.6 Turmeric
11.6.7 Cumin Seed
11.6.8 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food Industry
11.10.2 Beverage Industry
11.10.3 Retail
11.10.4 Cosmetics
11.10.5 Pharmaceuticals
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cardamom
12.6.2 Cinnamon
12.6.3 Clove
12.6.4 Chili Powder
12.6.5 Pepper
12.6.6 Turmeric
12.6.7 Cumin Seed
12.6.8 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food Industry
12.10.2 Beverage Industry
12.10.3 Retail
12.10.4 Cosmetics
12.10.5 Pharmaceuticals
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cardamom
13.6.2 Cinnamon
13.6.3 Clove
13.6.4 Chili Powder
13.6.5 Pepper
13.6.6 Turmeric
13.6.7 Cumin Seed
13.6.8 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food Industry
13.10.2 Beverage Industry
13.10.3 Retail
13.10.4 Cosmetics
13.10.5 Pharmaceuticals
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Spice and Ingredients Market: Competitive Dashboard
14.2 Global Spice and Ingredients Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 McCormick
14.3.2 Worlee
14.3.3 Prymat
14.3.4 Olam International
14.3.5 Jain Spices
14.3.6 Krauter Mix
14.3.7 SABATER Spices
14.3.8 El Clarin Spices
14.3.9 ROYAL SPICES
14.3.10 Elite Spice
14.3.11 Everest Masala
14.3.12 Mahashian Di Hatti (MDH)
14.3.13 British Pepper and Spice
14.3.14 Cinnatopia
14.3.15 Touton
14.3.16 Apple Flavor and Fragrance Group
