Dried Spices Market Research and Overview of Size, Share, Revenue, Trends and Forecast till 2026
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As the need to enhance flavor in food products continue to increase, manufacturers in the food industry are increasingly focusing on using dried spices as an important ingredient. Apart from boosting flavor of various food products, dry spices are witnessing significant demand for dried spices attributed to health-benefitting properties. Fact.MR states that the global dried spices market is expected to reflect a CAGR of 3.2% over the forecast period, 2017-2026.
The report offers an overview of the global dried spices market. This comprises an introduction to the market, along with a standard definition of the product – dried spices. In this section, market value and year-over-year growth is offered to the readers. Year-over-year growth provides readers with a broader view of growth patterns over the forecast period.
The report’s succeeding section focuses on drivers, restraints and key trends from macroeconomic, demand, and supply perspectives. Impact analysis of weighted average model-based growth drivers is contained in the report for better provision of decision-making insights to clients.
Food Industry to Boost Demand for Dried Spices
Besides consumption in the food industry, range of spices are further used as important ingredients in various medicines and personal care products. Attributed to various healthy properties, dried herbs and spices continue to witness significant demand for the production of range of personal care and beauty products globally. Moreover, dried herbs and spices also continue to witness significant demand in various aromatic products. Attributed to various properties such as soothing, protecting, cleaning and healing the body, dried spices continue to witness significant demand in the personal care industry and cosmetic industry.
Personal Care Industry to Create Lucrative Growth Opportunities
Growing need for enhanced and good aroma has led to surge in demand for dried spices globally. Manufacturers producing products for aromatherapy are increasingly using dried spices for embedding enhancing the aroma and adding a spicy tinge to the smell of the aromatherapy products. Attributed to various health-related benefits, the manufacturers of aromatherapy products will also continue to witness significant demand for production of various oil products used for aromatherapy. Bound to these factors, the global dried spices market is expected to witness significant growth.
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Pepper to Represent a Leading Segment
Growing need to improve digestion and lose weight has led to surge in demand for pepper globally. On the basis of product type, the pepper segment is expected to represent the highest revenue growth, accounting for a value of over US$ 2,000 Mn by the end of 2026. In contrary, the cinnamon product type segment is expected to register the highest CAGR during the forecast period.
Based on end users, the conventional segment is expected to generate significant revenues, recording a value of over US$ 5,200 Mn by the end of 2017. On the other hand, the organic end users segment is expected to register a healthy CAGR through 2026.
By sales channel, the supermarkets/hypermarkets segment is expected to witness significant revenue growth, accounting for a value of over US$ 2,400 Mn by the end of 2026. However, the online stores sales channel segment is expected to register a robust CAGR throughout the forecast period.
On the basis of form, the whole dried segment is expected to witness impressive revenue growth, recording a value of over US$ 2,400 Mn by the end of 2017. In contrary, the powder form segment is expected to register a significant CAGR over the forecast period.
Leading market players operating in the global dried spices market include McCormick & Company, Inc., Symrise AG, Naturex S.A., Sensient Technologies Corporation, Olam International, Synthite Industries Ltd., Kancor Ingredients Limited, Doehler GmbH, Takasago Corporation, Kalsec Inc., Foodchem International Corporation, Frutarom Industries Ltd., Robertet SA, International Taste Solutions Ltd., Firmenich SA, Ajinomoto Co., Inc., Archer Daniels Midland Company, Dohler GmbH, Kerry Group Plc. and Givaudan S.A.
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