Seasoning Market Business Growth 2019 | Major Players McCormick & Company, Nestle, Ajinomoto Co., MDH Spices, Everest Spices, DS Group, Unilever, Kraft Foods, Ariake Japan Company, Associated British Foods, Kerry Group Plc. and Olam International Limited.

Seasoning refers to addition of herbs and spices to the cuisines to give unique aroma and flavor. Seasoning have been used from the ancient times in the food. Traditionally it was widely used in the Asian countries and due to globalization it is also penetrating North America and European region. Herbs are generally dried or fresh leaves of the plants, which tend to grow in a particular climate and spices are usually made from roots, stem, bark, fruits, and seeds.

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Key players operating in the global seasoning market include McCormick & Company, Nestle, Ajinomoto Co., MDH Spices, Everest Spices, DS Group, Unilever, Kraft Foods, Ariake Japan Company, Associated British Foods, Kerry Group Plc. and Olam International Limited.

Market Dynamics

Multiple benefits offered by seasoning is a key factor driving seasoning market growth. Seasoning helps to enhance the taste of food as well as has various health benefits. Extensive research studies in the field of medical sciences proved benefits of pepper, cinnamon, turmeric, basil, and ginger in curing diseases such as diabetes, brain function, infections, high blood pressure, and cancer. Owing to such benefits, seasoning are extensively adopted in food and diet. Homemade seasoning are also gaining significant traction due to their remedial nature. Therefore, increasing demand for such herbs and spices across the world is projected to boost demand for global seasoning market over the forecast period.

Bulk availability of herbs and spices across the globe are creating immense opportunity for growth of seasoning market. As per Spices Board of India, total spices and spice product exported from India in 2017-18 was 1.03 million tones, which was valued at US$ 2.6 Billion.

Market Outlook

Among product type, salt and salt substitutes segment accounted for the largest market share in 2017. Health benefits of salt and salt substitutes include prevention of iodine deficiency, improved cardiovascular health, cures cystic fibrosis, and prevents heat stroke.

Among end-use industries, industrial segment dominated the market in 2017, owing to extensive applications of seasoning in the manufacturing of packaged food, the segment is projected to retain dominant position in the market over the forecast period. Factors such as change in lifestyle and rising number of working women may increase the consumption of packed food, which is expected to fuel growth of this segment over the forecast period.

Asia Pacific witnessed highest market share globally in 2017. The region is projected to maintain its dominance over the forecast period, owing to increasing production of herbs and spices due to suitable climatic condition. Increasing disposable income and change in lifestyle of medium class population is fueling growth of the global seasoning market. Emerging economies such as India and China are the major producers of the herbs and spices. According to a data provided by Government of India, the production of spices in India was 8,413 thousand tones in 2017.

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Europe is projected to be the fast growing region in the market over the forecast period. Key factors such as changing dietary patterns, increasing population, and rapid penetration of spices and herbs in the European economies are creating immense opportunities for growth of the market.

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