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Dried Spices Market: Food Industry to Boost Demand for Dried Spices || key Players: Firmenich SA, Ajinomoto Co., Inc., Archer Daniels Midland Company, Dohler GmbH, Kerry Group Plc. and Givaudan S.A.

02-07-2019 08:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Fact.MR

Dried Spices Market: Food Industry to Boost Demand for Dried

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 dried spices market is expected to reflect a CAGR of 3.2% over the forecast period, 2017-2026.  

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Besides increasing demand in the food industry, dried spices is expected to witness significant demand in various personal care products and medicines. As dried spices have antioxidant properties, manufacturers in the cosmetic and personal care industry are increasingly using dried spices during production process. In addition, healing, soothing, cleaning and protecting properties has led to surge in demand for dried spices while manufacturing various aromatherapy products. Moreover, dried spices will continue to witness significant demand in various oil products used for aromatherapy and spas globally. Surge in demand for dried spices is projected to impact growth of the global dried spices market during the forecast period.

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As preference for consuming spices that helps in losing weight and improves the digestion process increases, demand for pepper is projected to increase in the global market. On the basis of product type, the pepper segment is projected to witness significant revenue growth, accounting for more than US$ 2,000 Mn by 2026-end. However, the cinnamon product type segment is projected to reflect a healthy CAGR throughout the forecast period. By end users, the conventional end user segment is projected to represent the highest revenue growth, recording more than US$ 2,400 Mn by 2017-end. In contrary to this, the organic end users segment is projected to reflect a robust CAGR by 2026-end.

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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.

 Competition Tracking

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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About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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