Global Seasonings and Spices Market to Exhibit 4.8% CAGR 2013-2019 Owing to High Demand in Asia Pacific

The global seasonings and spices market has been examined in a detailed market research report published by Transparency Market Research. The report analyzes key elements of the market and presents an expansive overview of the competitive landscape of the market. The report is titled “Seasonings and Spices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019.” The report states that the market will expand at a healthy 4.8% CAGR over the period between 2013 and 2019. At this pace, the market, which had a valuation of US$12.7 bn in 2012, is projected to reach to a valuation of US$16.6 bn by 2019.

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The report highlights the fact that the market has survived well and is thriving even during the recent times of global economic downturn, which wreaked havoc on several well-established industries. The fact that consumers give more preference to in-house recipes by buying ingredients that eating out during financial crises has significantly helped the market survive the turbulent times of economic downturn of the past few years. Even though conditions reverse when finances are strong, the integral part played by seasonings and spices in every cuisine makes them products that are always in -demand.

The report segments the global seasonings and spices market on the basis of two criteria: product type and geography.

On the basis of product type, the market has been segmented into spices, herbs, pepper, and salt and salt substitutes. Of these, the segments of pepper and salt and salt substitutes collectively held a dominant share of over 50% in the global seasonings and spices market in 2012.

On the basis of geography, the report segments the global seasonings and spices market into North America, Europe, Asia Pacific, and Rest of the World. The report states that the market has seen flourishing growth flourished in regional markets such as North America, Parts of Latin America, and Europe, along with the traditional consumer of the market seasonings and spices – Asia Pacific. Several varieties of spices, especially several intense spices, which have been traditionally a part of native Asia Pacific cuisines for centuries, have only recently started gaining acclaim in countries such as Spain, the U.S., and the U.K.

In 2012, Asia Pacific, considered to be the most lucrative regional markets for a spices and seasonings, held a dominant share of over 66% in the global seasonings and spices market in terms of volume. Despite this, Europe held the dominant position in the market in terms of value, accounting for over 35% of the global market in 2012. Asia Pacific accounted for a 31% share in the global market in terms of value in the same year.

The report also gives an expansive account of the competitive scenario of the global seasonings and spices market with the help of detailed business profiles, SWOT analysis, and financial overview, and details regarding the business strategies, and recent developments pertaining to of some of the major vendors in the market.

The key market vendors profiled in the report include McCormick & Company, Nestle, Everest Spices, MDH Spices, Knorr, Catch, and Kraft Foods.

Seasonings and spices: Segmentation by product
Pepper
Salt and salt substitutes,
Spices,
Herbs

Seasonings and spices: Segmentation by geography
Europe
North America
Asia-Pacific
Rest of the World

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