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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Spices and Seasoning Market Size
The global spices and seasonings market reached a value of more than USD 27.93 billion in 2023. The global market is expected to grow at a CAGR of 5.6% during the forecast period of 2024-2032, likely to attain a value of USD 45.61 billion by 2032.
Spices and Seasoning Market Outlook
- As per industry reports, India was the world's largest exporter of spices in 2023, with exports reaching USD 3.89 billion.
- Turkey was the eighth-biggest exporter of spices in 2023, with a value of USD 294.72 million.
- Spices production in India grew from 67.64 lakh tonnes in 2015 to 106.79 lakh tonnes in 2021, with an annual growth rate of 7.9%.
- In 2021, spices like garlic (14.7%), ginger (7.5%), fennel (6.8%), coriander (6.2%), fenugreek (5.8%), red chilies (4.2%), and turmeric (1.3%) showed significant growth rates in production.
Spices and Seasonings Market Report Snapshots
Spices and Seasonings Market Size
Spices and Seasonings Market Growth
Spices and Seasonings Market Trends
Spices and Seasonings Market Share
Spices and Seasonings Manufacturers
Spices and Seasonings Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The spices and seasonings market reached a value of USD 27.93 billion in 2023.
The market is expected to grow at a CAGR of 5.6% between 2024 and 2032.
The market is expected to attain a value of USD 45.61 billion by 2032.
The market growth is driven by the growing demand and popularity of Asian cuisine around the world, rapidly growing e-commerce sectors, and the incorporation of encapsulation technology to extend the shelf life of spices.
Key trends aiding market expansion include the increasing utilisation of spices by food service providers, the rising demand for spice blends in home cooking, and increasing sales of organic spices and herbs.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The types of spices and seasonings available in the market include spices, herbs, and salts and substitutes, among others.
Spices and seasoning find extensive applications in bakery and confectionery, meat and poultry, snacks and convenience foods, soups, sauces, dressings, beverages, and frozen products, among others.
The common distribution channels for spices and seasonings in the market include offline and online channels.
Key players in the market are McCormick & Company, Incorporated, Olam International Limited., Ajinomoto Co., Inc., Kerry Group plc, and SHS Group, among others.
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