Press release
Organic Spice Market Size Is to Hit USD 440.05 Bn by 2028: Market Growth, Share, Demand, Solutions & Regional Analysis Forecast Report
The Global Organic Spice Market was valued at USD 322.9 Bn in 2021. The market is projected to grow USD 440.05 Bn in 2028, at a CAGR of 4.52% during the forecast period. The industry is expected to observe elevated growth owing to increasing awareness of health conscious consumers and high demand for organic products. Additionally, increased knowledge of the health advantages connected with the consumption of organic spices is likely to boost its sales.
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Organic spices are the ingredients used to flavor sweet and savory food to make it tastier and also provide nutritional value. This type of spices are produced naturally without the utilization of chemicals, fertilizers and pesticides and are available in the market in different forms such as powdered, extracts, granular and raw.
Key players profiled in the Global Organic spices Market includes:-
• Ajinomoto Co., Inc.
• Olam International Limited
• Sensient Technologies Corporation
• UK Blending LTD
• Organic Spices Inc.
• The Watkins Co.
• akay
• Frontier Co-op
• Rocky Mountain Spice Company
• Sauer Brands
• McCormick & Company, Inc.
• Kerry
• Others
Pepper segment To dominate the market share Of organic spices owing to the growing awareness associated with health benefits
The organic spices market is thoroughly segmented on the basis of type, applications, and distribution channels. Depending on the type of organic spices the market is further segmented into ginger, turmeric, chili, clove, pepper, cinnamon, nutmeg, mustard seeds, and others. Among these, the pepper segment is expected to dominate the global market owing to rising awareness associated with the health benefits it provides. Furthermore, surge in demand across food and beverage manufacturers is also likely to propel market growth.
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The Global Organic Spice Market Segmentation-
By Type-
• Ginger
• Turmeric
• Chili
• Clove
• Pepper
•Cinnamon
• Nutmeg
• Mustard Seeds
• Others
By Application-
• Meat & Poultry
• Bakery & Confectionary
• Frozen Food
• Snacks & Convenience Food
• Others
By Distribution Channel-
• Supermarkets/Hypermarkets
• Convenience Stores
• Online
By Region-
• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy, Spain, Rest of Europe
• Asia-Pacific- China, Japan, India, South Korea, Rest of Asia Pacific
• South America- Brazil, Argentina, Colombia, Rest of South America
• The Middle East and Africa- GCC, South Africa, Rest of Middle East & Africa
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Increasing Demand For Natural And Organic Ingredients In The Fast Moving Consumer Goods Industry To Propel Market Growth
Recent Industry Developments-
● In October 2021, Olam Food Ingredients made a strategic move by partnering with Agric-Neo to provide organically pasteurized dried onions to expand its product line with the help of pasteurization technology.
● In April 2021, Olam Food Ingredients acquired Olden Thompson to strengthen the product portfolio and expansion of private label capabilities across the OFI portfolio.
Europe Region To Dominate The Organic Spice Market Share Owing To The Largest Consumption Of Organic Spices
The Europe region is expected to dominate the market share of the global organic spice market owing to the largest consumption of organic spices around the world. In addition to this, the European food manufacturers are heavily investing in R&D and innovative products to withstand the inclination of millennials towards organic food and drinks. Moreover, rise in consumption of meat and poultry products is also expected to boost the organic spices industry growth.
However, the Asia Pacific region is expected to witness fact-paced growth of organic spices market in forthcoming years. This growth is attributed to the presence of large producers and exporters of different spices around the globe. In addition to this, rising preferences to various types of regional cuisines such as Chinese and Thai cuisines are a key element to boost the demand for various organic spices.
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