Press release
Herbs And Spices Market Anticipated To Witness Robust Growth, Surpassing 247.12 Billion By 2029
Herbs And Spices
What Is the Current Herbs And Spices Market Size and Its Estimated Growth Rate?
The market for herbs and spices has shown a robust increase in size over the past few years. This market is anticipated to escalate from $183.49 billion in 2024 to $195.15 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. Key factors contributing to this growth in the historic period include a heightened awareness of health, the international influence on food, the popularity of ethnic foods, an increase in demand for organic items, expansion of the food processing industry, and the appeal of convenience foods.In the years to come, the herbs and spices market is predicted to witness robust growth, escalating to a value of $247.12 billion in 2029 with a compound annual growth rate (CAGR) of 6.1%. The growth foreseen during this period could be due to several aspects, such as augmentation in vegetation, an increased demand for spices enhancing immunity, a rise in preference for bold seasonings, the booming e-commerce space for spices, and a flourishing foodservice industry. Critical trends projected for this period include practice sustainability in sourcing, acquiring organic and non-GMO certifications, improvements in processing methods, pioneering packaging to increase shelf-life, optimization of supply chain through AI, innovative approaches in medicinal spices, and the creation of spice blends conforming to international culinary trends.
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How Are Emerging Segments Shaping the Herbs And Spices Market Landscape?
The herbs and spices market covered in this report is segmented -
1) By Product Type: Herbs, Spices, Paprika (Hot Pepper), Cumin
2) By Form: Powder And Granules, Flakes, Paste, Whole Or Fresh
3) By Sales Channel: Direct Sales, Indirect Sales
4) By End Use: Food, Beverage, Food Service, Retail Sales
Subsegments:
1) By Herbs: Basil, Oregano, Thyme, Rosemary, Parsley, Mint
2) By Spices: Black Pepper, Turmeric, Cinnamon, Cardamom, Cloves, Ginger
3) By Paprika (Hot Pepper): Smoked Paprika, Sweet Paprika, Hot Paprika
4) By Cumin: Whole Cumin Seeds, Ground Cumin, Black Cumin
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Which Growth Factors Are Influencing Herbs And Spices Market Expansion?
The surge in the desire for organic food is predicted to stimulate the expansion of the herbs and spices market. Organic food, defined as food produced and treated without the use of synthetic chemicals or genetically modified organisms, is seeing a rising demand due to heightening health awareness, environmental sustainability concerns, and growing knowledge of nutrient-rich, chemical-free produce. The growth in organic food intake escalates the requirement for herbs and spices, appreciated for their natural qualities and compatibility with chemical-free diets. For instance, the UK's Department for Environment, Food, and Rural Affairs stated in May 2023 that in 2022, the United Kingdom registered a total of 509 thousand hectares of organically cultivated land, reflecting a rise of 0.4% from the previous year. The size of organically grown vegetable areas expanded by 4.8% to 10,000 hectares compared to 2021. Thus, the escalating demand for organic food is fueling the growth of the herbs and spices market.
Who Are the Dominant Players Across Different Herbs And Spices Market Segments?
Major companies operating in the herbs and spices market are Associated British Foods plc, Olam International, McCormick & Company Inc., Sensient Technologies Corporation, Döhler GmbH, Synthite Industries Ltd., Everest Spices, DS Group, Elite Spice Inc., Frontier Co-op, Mountain Rose Herbs, Raps GmbH & Co. KG, Pacific Spice Company, Inc., Bart Ingredients Company Ltd., Badia Spices Inc., Organic Herb Inc., Vanns Spices Ltd., Baron Spices & Seasonings, Durkee-Mower Inc., Ganesha Foods.
What Are the Latest Developing Trends in the Herbs And Spices Market?
Main players in the herbs and spices sector are putting their focus on technological advancements, particularly around the aspect of improved and eye-catching packaging to boost product lifespans, ensure freshness, and draw in more customers by enhancing user-friendliness and sustainability. The development of superior and visually appealing packaging increases freshness, prolongs shelf life, enriches visual aesthetics, confirms convenience, and bolsters market appeal. McCormick & Company, for example, a spice and extract producer based in the United States, unveiled a revamped bottle in March 2023 for its legendary red cap products, with an emphasis on freshness and convenience for domestic chefs. The innovative SnapTight lids included in the updated packaging design guarantee bottles are firmly sealed, preserving flavor and freshness. This redesign, which was tried and well-received by customers, signifies McCormick's dedication to elevating the cooking experience. The company plans to roll out these new bottles nationally, eventually incorporating all red cap products, including staples like cinnamon, garlic powder, and paprika, establishing a novel standard in flavor safeguarding and customer contentment.
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Which Geographic Regions Are Expected to Dominate the Herbs And Spices Market in the Coming Years?
North America was the largest region in the herbs and spices market in 2024. The regions covered in the herbs and spices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Herbs And Spices Market?
2. What is the CAGR expected in the Herbs And Spices Market?
3. What Are the Key Innovations Transforming the Herbs And Spices Industry?
4. Which Region Is Leading the Herbs And Spices Market?
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