According to Fact.MR, the seasonings and spices market is expected to represent a value of over US$ 34,500 Mn by the end of 2026.
Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting the market growth of global seasonings and spices market. The study is titled as “Seasoning & Spices Market Research Forecast, Trend Analysis & Competition Tracking – Global Review 2017 to 2026”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2017-2026. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global seasonings and spices market.
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Growing demand for flavor enhancing ingredients in the food industry is projected to rev up demand for seasonings and spices globally. In addition, increasing number of health-related benefits attributed to consumption of the seasonings and spices is projected to impact the global market growth of seasonings and spices positively. Fact.MR states that the global market of seasonings and spices is projected to reflect a CAGR of 4.7% over the forecast period, 2017-2026.
Factors Fuelling Global Market Growth
Growth of the global seasonings and spices market is mainly bound by various macro-economic and micro-economic factors. As preference for the convenience food products continue to increase, demand for the seasonings and spices is projected to remain high globally. Surge in demand for the convenience products is further bound to ready-to-use spice packages that can be conveniently used while traveling and working. Growing expansion of the hospitality sector and tourism has led to surge in development of the tourist destinations. Increasing construction of the restaurants and hotels in the tourist destinations is projected to reflect positively towards the global market of seasonings and spices.
Moreover, the hoteliers are banking on the growing tourism and hospitality industry to attain a competitive edge over the other players in the global market. In order to benefit, the hoteliers are increasingly offering innovative food products according to the requirements and preferences of the tourists, guests and customers. Moreover, increasing number of price-conscious customers in the hospitality and tourism industry are concentrating on offering innovative food products as a substitute for the lodging products provided to the customers. Greek seasoning, Creole, Garam masala and Cajun are some of the seasonings and spices that continue to witness significant demand for enhancing flavors of the food products significantly. Moreover, demand for cinnamon, cloves and turmeric is further expected to remain high in the global market significantly. Demand for Bound to these factors, demand for the seasonings and spices is projected to remain high in the global market over the forecast period.
Sales to Remain High Through Online Stores
Growing demand for spicy food products is projected to fuel sales of spices in the global market. In terms of revenue, the spices product type segment is projected to witness the highest growth, recording more than US$ 6,600 Mn by 2026-end. However, the salt substitute segment is projected to reflect a robust CAGR throughout the forecast period.
By 2017-end, the conventional nature segment is projected to witness significant revenues growth, accounting for more than US$ 6,500 Mn. On the other hand, the organic nature segment is projected to reflect a significant CAGR by 2026-end.
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Table of Contents
- Global Economic Outlook
- Global Seasoning & Spices Market – Executive Summary
- Global Seasoning & Spices Market Overview
3.1.1. Global Seasoning & Spices Market Taxonomy
3.1.2. Global Seasoning & Spices Market Definition
3.2. Global Seasoning & Spices Market Size (US$ Mn) and Forecast, 2012-2026
3.2.1. Global Seasoning & Spices Market Y-o-Y Growth
3.3. Global Seasoning & Spices Market Dynamics
3.4. Supply Chain
3.5. Global Seasonings Market: Macro-Economic Factors
3.6. Global Seasonings Market: Forecast Factors
3.7. Trade (Import-Export) Analysis
3.8. Innovations in Seasonings
3.9. Value Chain of Spices
3.11. Key Participants Market Presence (Intensity Map) By Region
- Global Seasoning & Spices Market Analysis and Forecast 2012-2026
4.1. Global Seasoning & Spices Market Size and Forecast By Product Type, 2012-2026
4.1.1. Spices Market Size and Forecast, 2012-2026
184.108.40.206. Revenue (US$ Mn) Comparison, By Region
220.127.116.11. Market Share Comparison, By Region
18.104.22.168. Y-o-Y growth Comparison, By Region
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