Market Trends of South America Seasoning and Spices Industry
This section covers the major market trends shaping the South America Seasoning & Spices Market according to our research experts:
Increasing Demand for Processed Food
There has been an increase in consumer spending on baked goods, confectionery products, and ready-to-eat & fried food, particularly in developed economies. As a consequence, sectors, such as bakery, confectionery and prepared food, are buying more spices. The demand for processed food depends largely on the economic situation, in a particular country or region. Also, where economic activity is growing, there are sufficient disposable incomes and growing urban populations, who form the major markets for commercially processed foods.
Growing Consumer Preference for International Chained Restaurant
The international chained restaurants like Burger King, Dominos are becoming a daily consumption industry. It is becoming a regular part of the consumers' lives than ever. This requires greater variety and, potentially, a shift away from the traditional emphasis on indulgence.
The growth of the foodservice industry is fueling the demand for spices and seasonings, as people want to try out new, ethnic, and exotic dishes. The rise of delivery and logistics platforms, such as UberEats, Swiggy, and Zomato, has created opportunities for new operators, while forcing more established operators to find new means of differentiation.
