According to a new research report by Global Market Insights Inc., the Seasonings Market is expected to exceed USD 9.5 billion by 2028. Rising consumer focus on health & nutrition coupled with numerous benefits offered by product such as organic quality and mineral enrichment will propel industry growth.
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According to market analysis, rise in the consumption of processed foods & beverages and growing tourism sector are anticipated to drive the demand for innovative spices blends in food preparation. Moreover, rising trend of cooking at home and the increasing demand for ethnic cuisines are likely to propel demand for different seasonings worldwide. Increasing consumption of multi-cuisine food products will open new avenues for business advancement. Applications for improving the nutritional value of the food with enhanced flavor will further boost the overall industry size.
According to market analysis, some major findings of the seasonings market report include:
- Significant benefits including rich in health benefits, which include essential oils and prevalence of minerals such as iron, potassium and manganese among several others. It is used in various applications comprising of nutraceuticals, pharmaceuticals, nutritional product preparations and health relief formulation that will support the seasonings market growth.
- The seasonings industry is predicted to witness various opportunities over the foreseeable timeframe due to its increasing use in the food preparation and service industry. It is also used to prepare exotic dishes that have unique flavors suiting the respective palate requirements of the consumers, assisting in market expansion.
- These spice blends are proved to be superior sources of antioxidants with their high content of phenolic compounds. It is evident that regular intake of spicy food rewards a lower risk of death from cancer and ischemic heart and respiratory system diseases, supporting the inclination of demand for seasonings.
- The rising epicure consumer preference for spice blend ingredients has increased the demand for seasonings in quick service and street food dishes promoting market escalation. Increasing product innovations in the application industries to sustain in the market are proving positive for the seasonings market development.
- Market statistics for the seasonings market for curry powder products incurred the significant growth of over 5.5% between 2022 to 2028.
- North America region acquired significant share in the global seasonings market
Chilli powder segment will emerge as a prominent product in Latin America seasonings market accounting for more than USD 45 million in 2028. The increase in the population liking spicy food has boosted the consumption of chili powder. Wide utilization of chili powder in different cuisines including Indian Mexican, and American for adding flavor and pungency is fostering the product growth. Further, chili powder is used in the pharmaceutical industry for its high capsaicin content, which is a bioactive compound and has anti-bacterial & pain-relieving properties.
According to industry analysis, Europe seasonings market is anticipated to reach over USD 3 Billion by 2028 in the global market. The emerging trend toward healthy & nutrifying dietary foods is creating new opportunities for the market escalation in the region. Developed food and beverage industry in European countries offers growth opportunities for seasonings market in various applications like bakery, fast food, nutraceutical foods, and also packaged exotic cuisines, over the forecast period. The growing tourism and hospitality sector and increasing demand for global cuisines for the internationally immigrating population are predicted to boost the seasonings market share in the region.
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Some of the key market players manufacturing Seasonings are McCormick & Company Inc., Olam International, Corbion, Nestle, Ajinomoto Co., Associated British Foods Plc, MDH Spices, Symega Foods Ingredients Limited, Everest Spices, DS Group, Unilever, The Kraft Heinz Co. and Ariake Japan Co. Ltd.
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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