Changing Consumer Eating Habits Supporting Seasonings and Spices Market

The surging awareness on the medical benefits of spices, changing consumer choices and eating habits, and increasing popularity of ethnic cuisines are some of the factors behind the growth of the seasonings and spices market. In 2017, the market generated a revenue of $21,507.3 million, and it is predicted to attain a size of $30,412.8 million by 2023, progressing at a CAGR of 6.0% during the forecast period (2018–2023).

Based on product, the seasonings and spices market is bifurcated into whole and ground. Of these, in 2017, the whole bifurcation dominated the market in terms of revenue and is expected to continue leading it during the forecast period. Among the numerous spices that are procured whole, are chili flakes, aniseed, chives, pepper, and cumin.

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On the basis of end use, the seasonings and spices market is categorized into industrial, food service, and retail. Out of these, in 2017, the industrial category led the market, both in terms of volume and value, and it is anticipated to exhibit a CAGR of 4.9% in terms of volume and 6.0% in terms of value during the 2018–2023 period.

With increasing purchasing power, the eating habits of the people are also changing. Consumers, nowadays, have become more experimental in terms foods to explore new flavors. Chinese, Mexican, and Continental cuisines are becoming popular, as people continue to challenge their test buds with new tastes.

The use of seasonings and spices at the household level is rapidly surging, with consumers getting better access to recipes and ingredients from cooking-based television shows and the internet. Thus, the changing food habits and choices of people are being witnessed as a major trend in the seasonings and spices market. Further, the increasing awareness on the medical benefits of spices has raised the production and sales of such flavoring substances.

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For instance, cumin helps in improving immunity, treating skin disorders, and bettering digestion. It also helps in treating insomnia, asthma, and anemia. Similarly, dill has a plethora of medical benefits, such as help in reducing menstrual cramps, depression, and cholesterol. Sesame seeds, which are rich in cholesterol-lowering phytosterols, improve blood pressure, fight cancer, protect the heart, balance the hormones, and improve nutrient absorption.

GLOBAL SEASONINGS AND SPICES MARKET SEGMENTATION

Seasonings and Spices Market Segmentation by Product

• Whole
  • Aniseed
  • Chili flakes/pepper
  • Chives
  • Cinnamon
  • Cumin
  • Dill
  • Fennel
  • Parsley
  • White poppy seeds
  • Blue poppy seeds
  • Sesame
  • Rosemary
  • Thyme
  • Tarragon
  • Vanilla
  • Saffron
  • Ginger
  • Others (including cardamom, clove, bay leaf, fenugreek, mace, and mustard seed)