Product Code: r6806
“Spices Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on spices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for spices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The spices market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
- 1) By Type: Garlic; Ginger; Turmeric; Cumin; Cinnamon; Pepper; Other Types
- 2) By Form: Raw; Powder; Other Form
- 3) By Category: Organic; Conventional
- 4) By Application: Bakery And Confectionary Products; Meat And Poultry Products; Frozen Food; Soups; Sauces; Dressings; Other Applications
- 5) By End User: Food Retail; Food Service; Food Processing
- Companies Mentioned: Ajinomoto Co Inc.; Associated British Foods Plc.; Baria Pepper; Kerry Group Plc.; The Bart Ingredients Co. Ltd.
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
Major players in the spices market are: Ajinomoto Co Inc., Associated British Foods Plc., Baria Pepper, Kerry Group Plc., The Bart Ingredients Co. Ltd., Dharampal Satyapal Group, Everest Food Products Pvt. Ltd., Dohler Group, McCormick & Company Inc., Frontier Co-op, Colorado Spice, The Watkins Co., Organic Tattva, Organic Spices Inc., Sauer Brands Inc., B&G Foods Inc., and Terana S.A.
The global spices market is expected to grow from $4.20 billion in 2022 to $4.48 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The spices market is expected to reach $5.70 billion in 2027 at a CAGR of 6.2%.
The spice market consists of sales of coriander, paprika, nutmeg, mustard seeds, cloves, fennel, fenugreek, capers, celery seeds, and oregano. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Spices are a group of flavored and aromatic ingredients derived from the roots, seeds, fruits, bark, or other parts of plants. They are typically used to enhance the taste, color, and aroma of food and beverages.
Asia-Pacific was the largest region in the spices market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in spices report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of spices are garlic, ginger, turmeric, cumin, cinnamon, pepper, and other types. Garlic usually refers to spices that are frequently used as flavoring in cooking. The various forms include raw, powder, and other forms with various categories such as organic, and conventional. These are used in various applications such as bakery and confectionary products, meat and poultry products, frozen food, soups, sauces, dressings, and other applications and by various end users such as food retail, food service, and food processing.
The growth in demand for organic food are expected to propel the growth of the spice market going forward. Organic food is produced without the use of synthetic chemicals or genetically modified ingredients. Organic food is in high demand because people believe it is healthier and better for their immune systems. Organic food consumption, on the other hand, is steadily increasing, due to fuelling demand for herbs, spices, and seasonings. For instance, in May 2021, an organic industry survey conducted by Organic Trade Associations (OTA) showed that organic sales (including organic food products) in the United States increased by a record 12.4% to $61.9 billion in 2020. Therefore, the growth in demand for organic food are driving the growth of the spice market.
Product innovation is a key trend gaining popularity in the spice market. Companies operating in the spice market are focused on innovative products to reinforce their position in the market. For instance, in November 2022, Lifespice India Private Limited, an Indian-based manufacturer of health care, garam masala, and snack foods, launched India's first science-backed Spice Mixes. These mixes are prepared using 15 raw materials, which do not include onions, ginger, garlic, or other vegetables. The product is prepared electronically without human touch or interaction. The blended recipes are pulverized to a 600-micron fineness and packaged in Vacuum sealed Food grade PET jars.
In December 2022, Wipro Consumer Care, an India-based consumer care company acquired Nirapara for an undisclosed amount. With this acquisition, Wipro expands its packaged food, spices, and consumer products portfolio. Nirapara is an India-based company operating in the spices market.
The countries covered in the spices market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The spices market research report is one of a series of new reports from The Business Research Company that provides spices market statistics, including spices industry global market size, regional shares, competitors with a spices market share, detailed spices market segments, market trends, and opportunities, and any further data you may need to thrive in the spices industry. This spices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Table of Contents
1. Executive Summary
2. Spices Market Characteristics
3. Spices Market Trends And Strategies
4. Spices Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Spices Market
- 4.2. Ukraine-Russia War Impact On Spices Market
- 4.3. Impact Of High Inflation On Spices Market
5. Spices Market Size And Growth
- 5.1. Global Spices Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Spices Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Spices Market Segmentation
- 6.1. Global Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Garlic
- Ginger
- Turmeric
- Cumin
- Cinnamon
- Pepper
- Other Types
- 6.2. Global Spices Market, Segmentation By Form, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Raw
- Powder
- Other Form
- 6.3. Global Spices Market, Segmentation By Category, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Organic
- Conventional
- 6.4. Global Spices Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Bakery And Confectionary Products
- Meat And Poultry Products
- Frozen Food
- Soups
- Sauces
- Dressings
- Other Applications
- 6.5. Global Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Food Retail
- Food Service
- Food Processing
7. Spices Market Regional And Country Analysis
- 7.1. Global Spices Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Spices Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
8. Asia-Pacific Spices Market
- 8.1. Asia-Pacific Spices Market Overview
- Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
- 8.2. Asia-Pacific Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
9. China Spices Market
- 9.1. China Spices Market Overview
- 9.2. China Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Spices Market
- 10.1. India Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Spices Market
- 11.1. Japan Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Spices Market
- 12.1. Australia Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Spices Market
- 13.1. Indonesia Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Spices Market
- 14.1. South Korea Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
15. Western Europe Spices Market
- 15.1. Western Europe Spices Market Overview
- 15.2. Western Europe Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Spices Market
- 16.1. UK Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Spices Market
- 17.1. Germany Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Spices Market
- 18.1. France Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Spices Market
- 19.1. Eastern Europe Spices Market Overview
- 19.2. Eastern Europe Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Spices Market
- 20.1. Russia Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Spices Market
- 21.1. North America Spices Market Overview
- 21.2. North America Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Spices Market
- 22.1. USA Spices Market Overview
- 22.2. USA Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Spices Market
- 23.1. South America Spices Market Overview
- 23.2. South America Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Spices Market
- 24.1. Brazil Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Spices Market
- 25.1. Middle East Spices Market Overview
- 25.2. Middle East Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Spices Market
- 26.1. Africa Spices Market Overview
- 26.2. Africa Spices Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Spices Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Spices Market Competitive Landscape And Company Profiles
- 27.1. Spices Market Competitive Landscape
- 27.2. Spices Market Company Profiles
- 27.2.1. Ajinomoto Co Inc.
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Associated British Foods Plc.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. Baria Pepper
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. Kerry Group Plc.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. The Bart Ingredients Co. Ltd.
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Spices Market
29. Spices Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer