The Global spice and Seasoning market is anticipated to cross USD 30.45 Billion by 2028 ,due to expanding food industry and Further rise in ready to eat meals.
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The global spices and seasoning market has experienced growth over the years, driven by factors such as an increasing population, changing dietary preferences, and growing awareness of the health benefits of natural ingredients. Spices and herbs are sourced from different regions around the world, each with its own unique flavour profiles and characteristics. Countries like India, China, Indonesia, and Vietnam are major producers and exporters of spices, while other regions contribute to the global supply. Spices have a rich history and were highly prized in ancient times. The demand for spices from Asia, such as black pepper, cinnamon, and cloves, led to the establishment of ancient trade routes like the famous Silk Road, connecting East and West. Certain spices and herbs are particularly associated with specific regions or countries. For example, basil is often associated with Italian cuisine, while coriander is widely used in Indian and Mexican dishes. Seasoning demand is expanding internationally because of changing consumption habits, increased urbanisation, rising income levels, and innovative food experiences. Furthermore, a rising number of customers in Europe and North America have begun to use a range of spices in their local cuisines, creating new potential for producers in the worldwide market. Spices and seasonings are commonly used to add flavour, aroma, diversity, and taste to food and beverages, as well as additions or antibacterial agents. Comfort food manufacturers use spices and seasonings to improve the quality and flavour of their products and extend their shelf life. Customer willingness to explore new pathways for new spices, as well as growing interest in ethnic preferences, has resulted in an increase in item contributions and an extension in the offer of spices and seasonings. This industry's growth can also be attributed to its response to client demand for better products, comfort, and a variety of spices.
According to the research report "Global Spices and Seasoning Market Overview, 2023–2028," published by Bonafide Research, the Global spice and Seasoning market is anticipated to cross USD 30.45 Billion by 2028, increasing from USD 22.07 Billion in 2022. The market is expected to grow at a 5.61% CAGR by 2028. The spices and seasonings market has observed wide developments over the last few decades, supported by factors such as increasing urbanisation levels and changing lifestyles. Increasing demand for unique aromatic food experiences by today’s customers is boosting food experimentation by recipe developers. Furthermore, Remarkable interest in global and ethnic food reinforces curiosity in flavour mixes and spices. As well as the expanding bars, hotels, restaurants, and cafes to cater to the growing number of consumers, that raised the demand for the spices and herbs in the market. Based on the product types, which include spices and herbs, at the global level, the spices have the highest market share. As spices can produce different flavours easily, their demand is growing at a fast pace in the global market. Turmeric, pepper, and cinnamon are the most consumed spices in the world. However, other spices that are commonly available in the market The herbs segment is anticipated to grow at the highest CAGR during the forecast period. The growth of the segment can be attributed to the several health benefits associated with herbs, such as garlic, parsley, oregano, fennel, peppermint, and basil. Consumers across the globe are increasingly using these herbs for their taste and their exceptional medicinal properties. For instance, garlic is most often used for its strong aroma and unique flavour; however, it is also very effective in treating the common flu and similar illnesses. It is also helpful in the treatment of hypertension and cardiovascular diseases.
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