Market Size of Seasoning and Spices Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 19.89 Billion |
| Market Size (2029) | USD 25.60 Billion |
| CAGR (2024 - 2029) | 5.18 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Spices and Seasonings Market Analysis
The Seasoning and Spices Market size is estimated at USD 19.89 billion in 2024, and is expected to reach USD 25.60 billion by 2029, growing at a CAGR of 5.18% during the forecast period (2024-2029).
The market for spices and seasonings has witnessed steady growth in recent decades due to rising demand for functional foods across the globe, wherein some select spices meant to provide immunity, such as turmeric, ginger, and garlic, have received tremendous responses from consumers globally. Additionally, the demand from consumers for high-quality healthy food ingredients, along with the increased preference for trying out new flavors in the foodservice sector and processed food products, is supporting the overall spices and seasonings market's growth globally, leading to an upward trend during the forecast period.
Spices and herbs are more aligned toward health and wellness; along with it, the retail food products manufacturers have also further increased the application of spices and seasonings to fit the taste and preferences of the various ethnicities of the consumer across the globe. Products such as ginger, dried capsicum/pimento, uncrushed pepper, Curcuma, cinnamon, and cloves have the most potential for growth in the market. The nutritional benefits of various spices have helped grow the market. Furthermore, the growing demand for a diverse mix of herbs and spices is expected to be met by ethnic spice blends, mostly related to the increasing popularity of ethnic packaged foods, healthy foods, and growing consumption of convenience, processed, and ready-to-eat dishes.
Spices and Seasonings Industry Segmentation
Spices and seasonings are widely used to add flavor, aroma, color, and taste to food & beverages, and sometimes act as preservatives or antibacterial agents. The global seasoning and spices market (henceforth referred to as the market studied) is segmented by product type, application, and geography. Based on product type, the market is segmented into salt and salt substitutes, herbs and seasonings, and spices. Based on herbs and seasonings, the market is further sub-segmented into thyme, basil, oregano, parsley, and other herbs. Based on spices, the market is further segmented into pepper, cardamom, cinnamon, clove, nutmeg, turmeric, and other spices. Based on the application, the market is segmented into bakery and confectionery, soup, noodles, pasta, meat and seafood, sauces, salads, and dressing, savory snacks, and other applications. By geography, the market is segmented into North America, Asia-Pacific, South America, Europe, Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
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| Salt and Salt Substitutes | |||||||||
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| Application | |
| Bakery and Confectionery | |
| Soup, Noodles and Pasta | |
| Meat and Seafood | |
| Sauces, Salads, and Dressing | |
| Savory Snacks | |
| Other Applications |
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Seasoning and Spices Market Size Summary
The spices and seasonings market is experiencing consistent growth, driven by an increasing global demand for functional foods that offer health benefits. Consumers are particularly drawn to spices like turmeric, ginger, and garlic for their immunity-boosting properties. The market is further bolstered by a rising interest in high-quality, healthy food ingredients and a growing appetite for diverse flavors in both the foodservice and processed food sectors. This trend is supported by the expanding application of spices and seasonings to cater to various ethnic tastes, as well as the nutritional advantages they provide. The processed food industry's expansion is a significant factor in the market's growth, with food companies investing heavily to capture larger market shares. The demand for ethnic spice blends is also on the rise, fueled by the popularity of ethnic packaged foods and the increasing consumption of convenience and ready-to-eat meals.
The Asia-Pacific region stands out as the fastest-growing market for spices and seasonings, driven by a burgeoning interest in Western cuisines and a blend of cultural influences. The region's growing middle class and heightened health awareness among consumers are key contributors to this growth. The market is characterized by intense competition and fragmentation, with major players like Kikkoman Corporation, McCormick & Company, Inc., and Olam International actively enhancing their supply chains and distribution networks. These companies are also focusing on product innovation and strategic partnerships to maintain a competitive edge. The global shift towards organic food products, driven by health-conscious consumers, is further expanding the market's consumer base. As a result, the spices and seasonings market is poised for continued expansion, with significant opportunities for innovation and growth in various regions.
Seasoning and Spices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Salt and Salt Substitutes
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2.1.2 Herbs and Seasonings
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2.1.2.1 Thyme
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2.1.2.2 Basil
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2.1.2.3 Oregano
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2.1.2.4 Parsley
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2.1.2.5 Other Herbs
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2.1.3 Spices
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2.1.3.1 Pepper
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2.1.3.2 Cardamom
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2.1.3.3 Cinnamon
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2.1.3.4 Clove
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2.1.3.5 Nutmeg
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2.1.3.6 Turmeric
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2.1.3.7 Other Spices
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2.2 Application
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2.2.1 Bakery and Confectionery
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2.2.2 Soup, Noodles and Pasta
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2.2.3 Meat and Seafood
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2.2.4 Sauces, Salads, and Dressing
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2.2.5 Savory Snacks
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Spain
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Seasoning and Spices Market Size FAQs
How big is the Seasoning and Spices Market?
The Seasoning and Spices Market size is expected to reach USD 19.89 billion in 2024 and grow at a CAGR of 5.18% to reach USD 25.60 billion by 2029.
What is the current Seasoning and Spices Market size?
In 2024, the Seasoning and Spices Market size is expected to reach USD 19.89 billion.
