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Dried Spices Market: Precise Scenario Covering Trends, Opportunities and Growth Forecast during 2017-2026| Symrise AG, Naturex S.A., Olam International, Synthite Industries Ltd.
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Compared to their fresh counterparts, the dry spices and herbs have been much known for increasing number of health benefits in the food industry. Dry spices are increasingly used for boosting flavor to the various food products. Besides adding flavor to the food products, dry spices have various health benefiting properties. Attributed to calorie-free flavors and sodium, various spices help in heart diseases, controlling weight and diabetes. Moreover, consumption of dried spices further enables the end users in preventing cancer. Due to such factors, the global dried spices market is expected to witness significant growth during the forecast period.
According to Fact.MR, the global dried spices market is expected to represent a value of over US$ 17,400 Mn by the end of 2026.
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.
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 insights 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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