The global seasonings and spices market revenue is expected to expand at a moderate CAGR over the forecast period. Increasing preference towards convenience and packaged food items, owing to changing consumer lifestyle, eating habits, and increasing number of working women are major factors expected to drive growth of the target market over the forecast period. In addition, online marketing campaigns and availability of e-commerce platforms are other factors expected to boost growth of the target market over the forecast period. Increasing demand for organic and homemade seasonings are expected to create opportunities in terms of revenue for manufacturers operating in the target market over the forecast period.
The global seasonings and spices market report has been segmented on the basis of product type, packaging, and region. On the basis of product type, the target market is segmented into salt and salt substitutes, pepper, herbs, and spices. The salt and salt substitutes product type segment is expected to register significant share in term of revenue over the forecast period, owing to its health benefits includes prevention of iodine deficiency, cures cystic fibrosis, improved cardiovascular health, and prevents heat stroke. On the basis of packaging, the target market is segmented into sachets, bottles, and pouch.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to register highest share in terms of revenue, owing to increasing heavy consumption of seasonings and spices, especially in South Asian countries in this region. The market in Europe is expected to register significant growth over the forecast period, owing to changing consumer preference towards value-added products in various countries in this region.
Key players operating in the global seasonings and spices market include McCormick & Company, Incorporated, Nestlé S.A., Ajinomoto Co., Inc., Everest Spices, DS Group, The Unilever Group, Kraft Foods Group, Inc., ARIAKE JAPAN CO LTD., Associated British Foods plc, and Kerry Group Plc.