openPR Logo
Press release

Sales of Spices Market to Record Exponential Growth During 2021 - 2031

As per the latest industry study by Persistence Market Research on spices, the global market is estimated to rise at a CAGR of 5.1% and top a valuation of US$ 233 Bn by 2031. Consumers are getting more conscious about what they eat, and want to know about the ingredients and nutrition value without compromising on the taste and flavor of food products. Spices play a key role in moulding food taste and flavor. Manufacturers are thus introducing new and innovative spice products into the market that give an authentic taste to food as well as are healthy for consumption.

To remain ‘ahead’ of your competitors, request for a samples@ https://www.persistencemarketresearch.com/samples/32805

Apart from this, spices possess excellent properties for enhancing beauty. The ongoing trends of ‘Clean Beauty’ and ‘Green Beauty’ are compelling cosmetic manufacturers to include natural ingredients and create new formulations.

Latest developments in this marketplace include:

In 2020, McCormick & Company, Inc. acquired 100% shares of FONA International, a global leader of natural and clean flavor providers, for use in various applications such as food, beverages, and nutritional products. The company also launched a new range of global organic seasonings under the brand ‘McCormick Gourmet’.
In 2021, Olam International completely acquired Olde Thompson, a leading United States-based private-label spice and seasoning manufacturer. The acquisition will help the company in the expansion of its private label offerings. The company also acquired United States-based Mizkan America, Inc. in 2020 to fulfil consumer demand for Mexican spices and flavors.
Key Takeaways from Market Study

South Asia holds majority share in the global market at 41%, followed by East Asia and North America with market shares of 14.6% and 14%, respectively.
On the basis of type, mustard is being used more and holds a market share of 16.9%, followed by turmeric and chili with shares of 12% and 11.2%, respectively.
On the basis of nature, conventional spices cover a share of more than 95% currently. However, demand for organic spices is expected to grow over the coming years.
The whole and powder forms of spices are used more in various end-use industries, with 55% and 31% shares, respectively.
Spices are majorly used in the food processing industry, which accounts for more than 46% market share followed by the foodservice industry that accounts for 19% share.

Download in-depth Table Of Content@https://www.persistencemarketresearch.com/market-research/spices-market/toc

Competitive Landscape

The global spices market is dominated by the presence of a large number of manufacturers, but they are mostly region-specific. The market is highly fragmented, and thus, competition is expected to be intense as spices are not grown in every region and the market is more export-oriented.

Major spices producers are adopting strategies such as increasing existing production capacity and business expansion. With the recent trend of preference for healthy and nutritious food products, manufacturers provide higher quality spices to food & beverage manufacturers, and also other end-use industries.

For in-depth competitive analysis, buy now@ https://www.persistencemarketresearch.com/checkout/32805

Contact us:
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com

About us:
Persistence Market Research, as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Sales of Spices Market to Record Exponential Growth During 2021 - 2031 here

News-ID: 2536959 • Views:

More Releases from Persistence Market Research

Smart Container Market Expected to Surpass US$ 21.5 Bn in 2032 - Persistence Market Research
Smart Container Market Expected to Surpass US$ 21.5 Bn in 2032 - Persistence Mar …
In an era where digital transformation is reshaping every industry, logistics and supply chain management are undergoing one of the most significant shifts with the rise of smart container technology. Traditional shipping containers, once considered merely passive cargo carriers, are now being enhanced with advanced technologies such as IoT (Internet of Things), GPS tracking, temperature and humidity monitoring, and blockchain integration. These innovations are not just optimizing operational efficiency but
Automatic Labeling Machine Market to Reach US$4.0 Bn by 2032 - Persistence Market Research
Automatic Labeling Machine Market to Reach US$4.0 Bn by 2032 - Persistence Marke …
The automatic labeling machine market is witnessing steady growth as industries across food & beverage, pharmaceuticals, cosmetics, consumer goods, and logistics increasingly adopt automation to improve efficiency, reduce labor costs, and ensure labeling accuracy. In recent years, pressures such as regulatory compliance (e.g. traceability and serialization in pharma), branding demands, higher SKU complexity, and growth in e-commerce have pushed manufacturers to upgrade from manual or semi-automatic labeling to fully automatic
Solar Cells & Modules Market to Reach US$ 360.8 Billion by 2033, Driven by Global Clean Energy Demand
Solar Cells & Modules Market to Reach US$ 360.8 Billion by 2033, Driven by Globa …
The solar cells & modules market is witnessing unprecedented growth as nations accelerate their transition toward clean and renewable energy. According to the latest study by Persistence Market Research, the global solar cells & modules market size is projected to expand from US$ 163.7 billion in 2023 to US$ 360.8 billion by 2033. This reflects a robust CAGR of 8.2% during the forecast period, underscoring solar technology's role as the
Power Bank Market Size to Reach US$20.6 Bn by 2032, Growing at 7.4% CAGR - Persistence Market Research
Power Bank Market Size to Reach US$20.6 Bn by 2032, Growing at 7.4% CAGR - Persi …
The global power bank market has become one of the most dynamic segments within the consumer electronics ecosystem, driven by the increasing penetration of smartphones, digital devices, and mobile lifestyles. According to the latest study by Persistence Market Research, the power bank market size is projected to be valued at US$12.4 Bn in 2025 and is expected to reach US$20.6 Bn by 2032, growing at a healthy CAGR of 7.4%

All 5 Releases


More Releases for United

AI Image Recognition Market Will Hit Big Revenues In Future | Google (United Sta …
According to HTF Market Intelligence, the Global AI Image Recognition market to witness a CAGR of 13.42% during the forecast period (2024-2030). The Latest Released AI Image Recognition Market Research assesses the future growth potential of the AI Image Recognition market and provides information and useful statistics on market structure and size. This report aims to provide market intelligence and strategic insights to help decision-makers make sound investment decisions and identify
Movable Walls Market By Top Key Players- Hufcor (United States), Dormakaba (Swit …
Global Movable Walls Market Report from Advance Market Analytics (AMA) covers market characteristics, size and growth, segmentation, regional breakdowns, competitive landscape, market shares, trends and strategies for this market. The market characteristics section of the report defines and explains the market. The market size section gives the electronic equipment market revenues, covering both the historic growth of the market and forecasting the future. Drivers and restraints looks at the external
Military Personal Protective Equipment Market 2024 | 3M Ceradyne (United States) …
Military personal protective equipment has become a crucial and standard element of soldier equipment. One of the major factor driving the market is the increasing role of ground troops in different parts of the world such as Iraq, Afghanistan and India among others. The demand for military personal protective equipment is anticipated to be driven by modernization initiatives undertaken by several large defense spenders globally and various internal security threats,
Internet of Things Market 2021 | Google Inc. (United States), Cisco Systems Inc. …
The Internet of Things refers to the network of physical objects that attribute an IP address for Internet connectivity. Internet of Things is defined as an invisible and intelligent network of things that communicate indirectly or directly with each other. Internets of Things enable communication between the physical objects and other internet-enabled systems and devices. In addition, Internet of Things also makes the life of consumers much more comfortable and
Logistics Market | Global Growing Industry Key Players - J.B. Hunt Transport Ser …
Market Research Reports Search Engine (MRRSE) has recently updated its massive research catalog by adding a new study, titled “Logistics Market”. The study offers a clear insight about the prevailing trends and innovations happening in the Logistics Market. Readers can further access details about research highlights and executive summary to gain a better idea about this assessment. The market overview covers key industry developments and market opportunity map during the
Global Logistics Market 2024 | Key Players : J.B. Hunt Transport Services (Unite …
A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Logistics Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. Request for a sample of this research report @ https://www.mrrse.com/sample/2184 Logistics is