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Organic Spices Market is exhibiting at a compound annual growth rate of 7.3% over the forecast period 2022-2029 | Size & Global Analysis
Organic Spices Market
For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/global-organic-spices-market/
The factors driving the growth of Organic Spices Market includes rising awareness amongst consumers about the harmful effects of pesticides and chemicals used for preparing spices, growing consumption of soups and snacks around the world, increase in the number of Free Trade Agreements (FTAs) signed between Governments of different countries and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, turmeric helps in curing Alzheimer's disease, joint pains, and cancer, increasing availability of organic spices at e-commerce platforms and rapid urbanization, are some of the additional factors supplementing the Organic Spices Market size. In addition, the rising investments by major corporations on research and development, increasing disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Organic Spices Market is hindered attributed to high price margin of organic spices.
The prominent players operating in the market are Tierra Farm, McCormick & Company, Inc., Rocky Mountain Soap., Rapid Organic Pvt. Ltd., Yogi Botanicals, Live Organic, Starwest Botanicals, Salzhäus´l Himalaya-Kristallsalz GmbH, Organic Spices Inc., Frontier Co-op., and Spice Chain Corporation, among others.
Based on Application, the Commercial segment is predicted to capture the largest market share during the forecast period
Growing demand for fast foods items and increasing demand for organic species restaurants and food processing units, are some of the factors pushing segment's growth.
Based on Distribution Channel, the Supermarkets/ Hypermarkets segment is projected to hold the highest market share over the forecast period
Supermarket offer wide range of organic spices products attractive discounts and offer free home delivery on certain orders, are some of the features propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Increase in the launch of innovative products, growing use of premium organic spices by restaurants, rapid urbanization, rising prevalence of Alzheimer's disease and joint related pains and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
In 2019, Tierra Farm completed the acquisition "Señor Sabor." The company emphasized on offering organic spices, which eventually help Tierra Farm to launch an extension of products under their spice offerings.
Market Segmentation
Segmentation by Product
Whole
Powder
Chopped/Crushed
Segmentation by Application
Commercial
Household
Segmentation by Distribution Channel
Supermarkets/ Hypermarkets
Convenience Store
Online
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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