Organic Spice Market size is expected to exceed USD 55.70 billion by the end of 2027. The organic spice market is anticipated to grow over the coming timeframe, owing to the rising popularity of natural and exotic ingredients in food making due to their long-lasting aromatic properties. Additionally, attributed to its high preservative properties in organic spices such as turmeric drive the market growth over the forecasted period.
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As per market analysis, some major findings of the organic spice market report include:
- The culinary application segment of the organic spice market accounted for the highest share of over 25% in 2020 and anticipated to hold strong share in the coming years as well, owing to the growing HoReCa industry around the world.
- Snacks & convenience foods application of organic spice was valued over USD 6.5 billion in 2020 and anticipated to witness the fastest growth over the forthcoming years owing to change in consumer eating habits and busy lifestyle
- Chili organic spice is expected to demonstrate a lucrative growth registering a CAGR of over 10.0% over the projected period. The growing encouragement by various organizations and boards to farmers for the adoption of organic farming will support the organic chili production.
- The Asia Pacific is anticipated to show significant growth in the organic spice market and accounted for over USD 14.0 billion in 2020 with the CARG over 8.5%. As Asia Pacific region is one of the large producers and consumer of spices in the world.
- Europe is anticipated to show significant growth in the organic spice market with a CAGR of over 8.0% pertaining to the rise in demand for organic food and increasing consumer spending on healthy living.
Turmeric organic spice should surpass USD 3.5 billion by 2027 growing at a CAGR of 8.0% during the forecasted timeframe attributed to its multiple health benefits. Turmeric has multiple medical properties such as it contains bioactive compounds and has natural anti-inflammatory compounds. Therefore, these medical properties of turmeric have led to an increase in its demand in various food products among consumers, owing to shifting consumer preference towards a healthy diet. Additionally, organic turmeric is one of the most effective natural nutritional supplements with major benefits to the human brain and body.
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Europe organic spice market accounted for over USD 6.0 billion in 2020 and is projected to register lucrative growth of over 8.5% in the coming years. Increasing inclination towards organic and natural food products should drive industry growth in the region. Fast-paced life along with inactive lifestyles is the main cause of many diseases which led in shift of consumers towards healthy eating habits. Additionally, Europe is a leading market in the global organic spices market, owing to rising demand of organic products, as the conventional spices are treated with harmful chemicals and cause harmful effects to human health. Also, the conventional spices are banned in Europe which supports the organic spies market growth.
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