The dried spices market is experiencing a CAGR of 4.6% during the forecast period. Valued at USD 5,763.5 million in 2022, it is expected to reach USD 9,036.5 million by 2032.
Dried spices play a crucial role in enhancing the aroma and flavor of various cuisines and convenience food products, making them an essential component of many food items. This category includes a wide variety of spices, such as pepper, paprika, allspice, cardamom, cloves, coriander, turmeric, caraway, nutmeg, ginger, cinnamon, mace, juniper berries, fennel seeds, saffron, fenugreek, and anise seeds. The global dried spices market is projected to grow significantly, driven by the expanding food and beverage industry worldwide.
Dried Spices Market: Growth Dynamics
Dried spices are widely used in various food and beverage applications. In addition to this, they are increasingly incorporated into processed products such as snacks, sauces, soups, and canned goods. As a result, the growing demand for these items is positively impacting the global dried spices market.
Dried spices are also gaining traction within the pharmaceutical industry, thanks to their diverse health benefits. This interest is creating significant opportunities for vendors in the dried spices market. Additionally, the rising trend of ready-to-use spice blends, such as oregano, is further stimulating market growth in both developed and emerging economies. Key macroeconomic factors influencing the global dried spices market include population growth, globalization, and climatic conditions.
Competitive Landscape
The presence of key companies in the dried spices market has significantly contributed to its growth in recent years. These companies gather relevant data to optimize production and supply within specific regions, thereby driving market expansion during the forecast period.
Additionally, they are employing various marketing strategies, including partnerships and collaborations, to capture a larger market share.
Recent Developments in the Dried Spices Market
- In Jan 2022, Kerry Group, a public food corporation, unlocked its new state-of-the-art facility in Saudi Arabia, which is about 21,500 square feet.
- In Feb 2021, Kerry announced the completion of the acquisition with Jining Nature Group. It is a China-based company which holds a significant position in the market in the preparation of seasonings and flavors of food products.
Some of the players identified in the global dried spices market include
- DS Group
- The Kraft Heinz Company
- Ajinomoto Co. Inc.
- Knorr Foods Co., Ltd.
- Nestle S.A.
- McCormick & Company
- Bart Ingredients Company Ltd.
- Baria Pepper
- MDH Pvt. Ltd.
- Everest Spices company.
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Key Segments
By Product Type:
- Pepper
- Paprika
- Cloves
- Coriander
- Turmeric
- Cumin
- Oregano
- Thyme
- Parsley
- Marjoram
- Bay Leaves
- Mint
- Others
By Distribution Channel:
- Hypermarket/ Supermarket
- Grocery Stores
- Online Channel
- Others
By End-use:
- Retail
- Industrial
- Catering
By Source:
- Natural
- Organic
By Product Form:
- Powder
- Whole Dried Spice
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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