Dried Spices Market worth $4.94 billion by 2030, growing at a CAGR of 4.76% - Exclusive Report by 360iResearch

The "Dried Spices Market by Product Type (Cardamom, Cinnamon, Cloves), Form (Flakes, Granules, Powder), Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Dried Spices Market to grow from USD 3.56 billion in 2023 to USD 4.94 billion by 2030, at a CAGR of 4.76%.

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Dried spices are seasonings obtained from various parts of plants, including seeds, berries, bark, roots, and fruits, which, after being harvested, undergo a drying process to remove moisture. This process concentrates their flavors, aromas, and essential oils, rendering them more potent than their fresh counterparts. Utilized globally in culinary, medicinal, and aromatic applications, dried spices play a pivotal role in enhancing the flavor, fragrance, and color of food and beverages. The drying preserves them, making them usable for an extended period and enabling easy transportation and storage of these valuable culinary components. This market is marked by its global scope, catering to an extensive audience with a demand for traditional and exotic spices, driven by factors such as the globalization of cuisines, increased health and wellness consciousness, and an expanded distribution network. However, climate change, price volatility, and stringent regulations pose constraints. Growth opportunities are evident in developing organic, sustainably sourced products, expanding into untapped markets with novel spices, and adopting advanced technologies such as AI and blockchain for supply chain improvements. Innovations in drying technology and agricultural practices, alongside research into the health benefits of spices, are pivotal for sustaining and amplifying market growth.

The Asia-Pacific region's dried spices market is evolving, contributing significantly to production and consumption. Countries in this Asia-Pacific region have a rich history associated with spice cultivation, deeply embedded in their cultural cuisines. Consumer needs in this region are closely tied to traditional uses, with a strong focus on spices as integral components for flavoring dishes. The region has seen an increase in patents, particularly in methods for preserving the quality and enhancing the flavors of spices. Investments are mainly directed towards sustainable farming techniques and enhancing export capabilities. The United States and Canada are notable contributors to the dried spices market in the Americas. The demand in this region is characterized by a growing interest in international cuisines, pushing the need for a diverse range of spices. Customers in North America tend to favor organic and ethically sourced spices, reflecting a broader trend toward health-conscious and sustainable purchasing behaviors. Recent investments have focused on developing technologies for sustainable spice production and traceability systems to ensure the ethical sourcing of spices. The EMEA region presents a varied spices market. In Europe, consumer purchasing behavior is leaning towards exotic flavors and spice blends, driven by increasing culinary exploration. The EU countries have seen growing investments in high-quality packaging solutions to extend the shelf life of spices. With its rich culinary traditions, the Middle East continues to demand high volumes of spices, influencing global spice trade patterns. Africa, as an emerging market, shows potential for cultivation and export, with investments aimed at enhancing agricultural practices and market access for farmers.

Market Segmentation & Coverage:

This research report categorizes the Dried Spices Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on Product Type, market is studied across Cardamom, Cinnamon, Cloves, Coriander, Cumin, Fenugreek, Garlic, Ginger, Mustard Seeds, Nutmeg, Onion, Paprika, Pepper, and Turmeric. The Cumin is projected to witness significant market share during forecast period.

Based on Form, market is studied across Flakes, Granules, Powder, and Whole. The Granules is projected to witness significant market share during forecast period.

Based on Application, market is studied across Food & Beverage, Health & Wellness Products, and Personal Care & Cosmetics. The Food & Beverage is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 42.32% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Dried Spices Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Dried Spices Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Dried Spices Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., Ariake Japan Co., Ltd., Associated British Foods plc, B&G Foods, Inc., Badia Spices Inc., DS Group, Döhler Group, EVEREST Food Products Pvt. Ltd., Frontier Co-op, Fuchs GmbH & Co. KG, Goya Foods, Inc., Kerry Group PLC, Koninklijke Euroma BV, McCormick & Company, Inc., MDH Spices, OLAM INTERNATIONAL LIMITED, Penzeys Spices, SAUER BRANDS INC., Sensient Technologies Corporation, SHS Group, The Bart Ingredients Company, Tone Brothers, Inc., Watkins Incorporated, Wiberg GmbH, and WorldPantry.com LLC.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Dried Spices Market, by Product Type
7. Dried Spices Market, by Form
8. Dried Spices Market, by Application
9. Americas Dried Spices Market
10. Asia-Pacific Dried Spices Market
11. Europe, Middle East & Africa Dried Spices Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Dried Spices Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Dried Spices Market?
3. What is the competitive strategic window for opportunities in the Dried Spices Market?
4. What are the technology trends and regulatory frameworks in the Dried Spices Market?
5. What is the market share of the leading vendors in the Dried Spices Market?
6. What modes and strategic moves are considered suitable for entering the Dried Spices Market?

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