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Spices Market: Stellar Growth with a CAGR 5.5% (2024-2025) and Projected to Succeed $2.04 billion by 2029
Spices Market Size
What Is The Projected Market Size Of The Global Spices Market And Its Growth Rate?
• The spices market grew from $1.48 billion in 2024 to $1.56 billion in 2025 indicating a CAGR of 5.5%
• The anticipated market size is $2.04 billion in 2029 with its CAGR projected at 6.9%
• The significant growth is attributed to increased demand of ethnic food, innovation in food processing, changing lifestyles among other drivers.
What Is Driving The Growth In The Spices Market?
The surge in demand for organic food is fueling the growth of the spice market. The consumption of organic food and spices, believed to be healthier, has grown substantially. A report published by the Organic Trade Association, a US-based business association, revealed that organic food sales in the United States crossed $60 billion in 2022. The total sales of organic food and non-food products reached a record high of $67.6 billion. Organic produce sales stood at $22 billion accounting for 15 percent of the total fruit and vegetable sales in the nation. Thus, the growth in demand for organic food directly contributes to the growth of the spice market.
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Who Are the Key Players Driving Spices Market Growth?
• Ajinomoto Co. Inc.
• Associated British Foods Plc
• BARIA PEPPER
• Kerry Group Plc
• The Bart Ingredients Co. Ltd.
• Dharampal Satyapal Group
• Everest Food Products Pvt. Ltd.
• Dohler Group
• McCormick & Company Inc.
• Frontier Co-op
What Are The Key Trends In The Spices Market?
• Rising demand for organic and sustainable spices
• Innovative spice blends and flavors
• Health and wellness focus
• Clean label and transparency
• Spices for plant-based and ethnic cuisine
What Are The Segments Of The Global Spices Market?
1) By Type: Garlic, Ginger, Turmeric, Cumin, Cinnamon, Pepper, Other Types
2) By Form: Raw, Powder, Other Form
3) By Category: Organic, Conventional
4) By Application: Bakery And Confectionary Products, Meat And Poultry Products, Frozen Food, Soups, Sauces, Dressings, Other Applications
5) By End User: Food Retail, Food Service, Food Processing
Which Region Leads The Spices Market?
Asia-Pacific was the largest region in the spices market in 2024, while North America is projected to be the fastest-growing during the forecast period. The spices market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Spices Market Global Market Report?
- Market Size Analysis: Analyze the Spices Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Spices Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Spices Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Spices Market.
- Competitive Developments: Analyze competitive developments such as expansions, agreements, new product launches in the market.
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