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Mulling Spices Market to Partake Significant Development During 2017 - 2025
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The flavor trends have changed greatly in recent times and the consumers continue to explore innovative flavor offerings. Hence, development of innovative recipes of mulling spices creates an excellent opportunity for the growth of the mulling spices market. Mulling spices are also prepared at home but has become difficult for time dependent professionals and hence, commercially available mulling spices coupled with consumer demand may spur the growth of the mulling spices market. The demand side factor like the consumer aversion to spices may also negatively affect the growth of the mulling spices market. In some regions, lack of consumer awareness is also hindering the growth of the mulling spices market. Expansion of retail outlets in regions where there is immense market potential is also an opportunity for the growth of the mulling spices market.
Consumer trend for ethnic cuisines is on a rise in North America. As a result, many beverage manufacturers are expanding product portfolio to include spicy versions of alcohol, coffee and teas which are clear indicators for the growth of the mulling spices market in this region. In Europe, mulled wine is consumed as a festive drink which makes mulling spices market highly unstable as the consumers tend to purchase the product in winters and festive occasions. In Asia Pacific, the growth of the mulling spices market is hindered due to the lack of consumer awareness. In Middle East and Africa, the growth of the mulling spices market is fuelled by the demand for continental and traditional beverage products owing to extensive tourism.
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Some of the key market players in the global mulling spices market are Monterey Bay Spice Company, Inc., Old Hamlet Wine & Spice, Raven’s Original., The Aspen Mulling Company, Inc., The Nutmeg Spice Co., Organic Spices Inc, Knudsen & Sons, Inc., Sheffield Spice & Tea Co.
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