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Organic Spices Market Projected to Grow at 5.1% CAGR, Reaching $406.6 Million by 2026
Organic Spices Market
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North America: A Frontier of Organic Food Movement
Leading the charge is North America, accounting for nearly 30.64% of the global organic spices market in 2018. This isn't surprising given the region's fervent embrace of organic food and beverages. The USDA confirms that the organic food segment is the fastest-growing within the industry, propelled by health-conscious consumers seeking wholesome alternatives. This trend isn't confined to North America alone; it's a global wave sweeping across countries where organic crop agriculture is gaining ground.
Spices: More Than Just Flavors
Kindly find the attached document. Asia-Pacific stands as a testament to this, boasting the largest market share for various spices. From Chinese to Indian cuisine, spices like turmeric, chili, pepper, ginger, and coriander seeds infuse dishes with not just taste but also tradition. The region's burgeoning organic food market further amplifies this demand, driven by an increasingly health-conscious populace.
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Nurturing Growth: Initiatives and Challenges
Behind the scenes, key players and non-profit organizations are fostering the growth of organic spices. Initiatives like the Indian Spices Board's promotion of organic spice cultivation and the Organic Trade Association's partnership with Indian Competence Centre for Organic Agriculture underscore a concerted effort to elevate the industry. However, challenges loom, including stringent trade regulations and logistical hurdles, which threaten to impede market growth.
The Players: Pioneers in Spice Evolution
In this dynamic landscape, key players such as Organic Spices Inc., UK Blending LTD, and The Watkins Co. are at the forefront, shaping the future of organic spices. Their innovation and commitment to quality are driving the industry forward, setting new standards for purity and sustainability.
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Leading market players analyzed in the research include the Pacific Spice Company, Inc., Organic Spices Inc., AKO GmbH, UK Blending LTD, Sabater Spices, The Watkins Co., Husarich GmbH, Daarnhouwer & Co, Spice Chain Corporation, and SunOpta Inc.
Key Findings of the Organic Spices Market:
In 2018, based on product type, the turmeric segment accounted for around 34.8% organic spices market share, growing at a CAGR of 4.9% from 2019 to 2026.
In 2018, based on form, the powder segment accounted for 32.3% share of the organic spices market and is expected to growth at the highest CAGR of 4.7%.
In 2018, based on region, Asia-Pacific accounted for a prominent market share and is anticipated to grow at a CAGR of 4.7% throughout the forecast period.
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