Dried Spices Market Anticipated to Grow at a 4.6% CAGR by 2032, According to FMI

The global dried spices market, valued at USD 5,763.5 million in 2022, is anticipated to expand to USD 9,036.5 million by 2032, reflecting a CAGR of 4.6% over the forecast period.

Dried spices, known for enhancing the flavor and aroma of various cuisines and convenience foods, remain essential ingredients in food products worldwide. This market growth is largely driven by the expanding food and beverage industry, with a diverse array of spices such as pepper, paprika, cardamom, cloves, turmeric, and more seeing increased demand.

Dried Spices Market: Growth Dynamics

Dried spices are prominence utilized in different food and refreshments. Aside from this, these spices are progressively utilized in the assembling of conspiracy items including snacks, sauces, soups, canned items, and others. Consequently, developing interest for this multitude of items is affecting emphatically on the development of the worldwide dried spices market.

Dried spices are building up forward movement of different organizations working in the drug business. One of the critical purposes behind this situation is assorted restorative upsides of dried spices. Subsequently, merchants from the worldwide dried spices market are acquiring awesome interest valuable open doors from drug industry. Aside from this, developing pattern of foods and rising ubiquity of prepared to-utilize spices combinations are invigorating the development of the worldwide dried spices market.

Growing cuisine trend and high popularity for ready-to-use spice mixtures such as oregano are expected to bolster the dried spices market in developed as well as developing economy. Macroeconomic factors affecting the global dried spices market include increasing population, globalization, climatic condition, etc.

Global Dried Spices Market: Regional Overview

Overall, the outlook for the global dried spices market is positive over the forecast period, attributed to varying medicinal benefits of spices, demographics & globalization, increasing trend of diverse cultural cuisine, increasing consumption of processed foods.

On the basis of geography, the global dried spices market is fragmented into seven regions namely, North America, Western Europe, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Among the regions, combining both Western Europe and Eastern Europe dominates the global dried spices market in terms of revenue contribution owing to the relatively high demand for dried spices from the food & beverages and pharmaceutical industries.

Europe rank at the second position in terms of volume in global dried spices market. Europe is followed by Asia Pacific in the global dried spices market in terms of value whereas, rank at a top position in terms of volume in the market over the forecast period owing to developed standard of living which enable consumers to spend more on food products and increasing population in developing countries including India and China.

Global Dried Spices Market: Key Players

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., and Everest Spices company.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.

Global Dried Spices Market: Segmentation

The global dried spices market is segmented on the basis of product type, distribution channel, end-use, and region. On the basis of product type, mixed and individual spices segment is expected to dominate the global dried spices market over the forecast period, owing to relatively high demand for the segment among all other segments in household as well as commercial and industrial segment.

Online channel segment is expected to expand at a significant growth rate over the forecast period on the basis of distribution channel for household and food service application. Among the end-use segments, industrial segment is expected to account for around half of the overall dried spices market.

The retail segment is followed by industrial segment and is expected to expand at a significant growth rate over the forecast period in global dried spices market. Catering segment is expected to account for relatively low revenue share of 10-20% in the global dried spices market.

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Based on the product type, the global dried spices market is segmented into:

Mixed and Individual Spices
Pepper
Paprika
Allspice (Pimento)
Cardamom
Caraway
Nutmeg
Ginger
Cinnamon

Others (Mace, Juniper Berries, Fennel Seeds, Saffron, Fenugreek, Anise seeds, etc.)

Dried Herbs
Oregano
Thyme
Parsley
Marjoram
Bay Leaves
Mint
Savoury
Others (Rosemary, Basil, Dill, Tarragon, Sage, etc.)
Salt & Salt Substitutes

Based on the distribution channel, the global dried spices market is segmented into:

Hypermarket/ Supermarket
Grocery Stores
Online Channel
Others

Based on the end-use, the global dried spices market is segmented into:

Retail
Industrial
Catering

Based on the source, the global dried spices market is segmented into:

Natural
Organic

Based on the product form, the global dried spices market is segmented into:

Powder
Whole Dried Spice