Seasoning and Spice Market

Seasoning and Spice Market Outlook (2024 to 2034)

The global seasoning and spice market is evaluated to reach a value of US$ 42.7 billion in 2024, as revealed in the recently updated research study published by Fact.MR. Over the projection period (from 2024 to 2034), global sales of seasonings and spices are forecast to climb at a CAGR of 5.5% and reach US$ 73 billion by 2034-end.

Veganism and vegetarianism are popular global trends. Several spices used previously in meat processing are now being utilized in their vegetarian alternatives, which is contributing to global seasoning and spice market growth. There is an increasing popularity of plant-based diets across the globe. More companies are involved in new product launches, particularly for the vegetarian and vegan populations, to generate remunerative opportunities.

For instance:

• Watson’s Seasoning Blends is a minority- and female-operated brand based in Los Angeles. In January 2022, the company came up with a new line of vegan spices, which help in the easy preparation of delectable plant-based meals.

The rising popularity of plant-based alternatives along with a slight decrease in the consumption of meat is generating opportunities for market players and pushing them to come up with attractive flavor and seasoning combinations. Moreover, increasing the consumption of spices among the vegan masses to improve the taste of food products is also positively aiding global seasoning and spices market growth.

• The market in South Korea is expected to expand at a 6.2% CAGR from 2024 to 2034.
• Worldwide demand for herbs is projected to increase at a CAGR of 5.4% and reach a market value of US$ 38.5 billion by the end of 2034.
• East Asia is estimated to capture 23.1% of the global seasoning and spice market share by 2034.

Report Attribute	Detail
Seasoning and Spice Market Size (2024E)	US$ 42.7 Billion
Forecasted Market Value (2034F)	US$ 73 Billion
Global Market Growth Rate (2024 to 2034)	5.5% CAGR
Market Share of Crushed Seasonings and Spices (2034F)	45.6%
North America Market Share (2034F)	24.3%
Japan Market Growth Rate (2024 to 2034)	6% CAGR
Key Companies Profiled	Mahashian Di Hatti Private Limited (MDH Spices); Elite Spice; SHS Group Limited; Dohler GmbH; McCormick & Company Inc.; Everest Spices; The Kraft Heinz Company; Ariake Japan Co. Ltd.; Olam International Limited; Ajinomoto Co. Inc.; Kerry Group Plc.; Unilever Plc; Associated British Foods Plc.; Baria Pepper Co. Ltd.; Dharampal Satyapal Limited (DS Group).

Which Key Drivers are Contributing to Expanding Seasoning and Spice Market Size?

“Changing Lifestyles across Several Regions of the World”

Changing dietary patterns of more consumers along with their sedentary lifestyle are contributing to the rising inclusion of conventional food items in their regular diet. Expanding retail channels, such as hypermarkets and supermarkets in urban areas, are leading to the rising availability of seasonings and spices. In addition, the growing population of working women is contributing to the preference for easy ways of eating with less time for the cooking process, thereby having a positive impact on demand for seasonings and spices is witnessing to increase in flavors and taste of meals.

Which Factors are Inhibiting Demand Growth for Seasonings and Spices?

“Adverse Impacts of Excessive Consumption of Spices”

Spices and seasonings are utilized at a larger scale in several food sectors. However, their excessive consumption is having adverse impacts on health. One of the commonly encountered issues is related to the digestion system. Acid reflux or heartburn, occurs commonly, thereby causing burning sensations in the chest area.

“Counterfeiting of Spices on a Large Scale”

Spice adulteration is owing to the growing requirements for exotic spices and herbs along with supply constraints. They are more vulnerable to adulteration, be it unintentional or planned, with their growing global trade. Thereby, an adverse impact on their demand is noticed.

How are New Market Players Creating Noteworthy Business Opportunities in This Business Landscape?

“Focus on Bridging Gap Between Farmers and End Users”

Startups are coming up with several innovative approaches for offering a platform to farmers as well as end users to ensure the delivery of quality products and strengthen their relationships.

For instance:

• Digital Agro Connect Solutions was established in 2020 in Nigeria. This company developed Agro Connect, which is used for connecting truck owners, farmers, and buyers. This platform enables users to source high-quality orders for spices as well as other food products. Thereby, solutions from the startup are helping in the removal of bottlenecks in sourcing farm produce, particularly in Northern Nigerian parts.

Country-wise Insights

As per the updated report published by Fact.MR, a market research and competitive intelligence provider, North America is forecasted to contribute 24.3% share of global market revenue by 2034. Increasing consumer willingness to experiment with new flavors along with the presence of some Asian immigrants with their preference for exotic spices and herbs in the region is contributing to the rising demand for seasonings and spices.

Why Does the United States Have a Bright Investment Scope for Suppliers of Seasonings and Spices?

“Increasing Demand for Organic Spices in the Country”

Attribute	United States
Market Value (2024E)	US$ 4.5 Billion
Growth Rate (2024 to 2034)	5.9% CAGR
Projected Value (2034F)	US$ 8.1 Billion

The United States is projected to capture 45.6% share of the market in North America by the end of 2034. According to the United States Department of Agriculture, the country holds a significant share in importing spices with a larger consumer base. Several spices, such as black & white pepper, vanilla beans, sesame seeds, capsicums, oregano, cinnamon, and mustard are becoming popular in the country. Growing demand for these spices in the country is owing to the increasing cases of chronic disorders, such as heart disease. Certain spices, particularly, herbal ones are proven beneficial for patients of cardiac disorders, thereby further positively impacting seasoning and spice market trends.

Which Country in East Asia is a Key Market for Seasonings and Spices?

“Several Local Brands Offering Herbs and Spices in China”

Attribute	China
Market Value (2024E)	US$ 4.7 Billion
Growth Rate (2024 to 2034)	5.5% CAGR
Projected Value (2034F)	US$ 8 Billion

China is approximated to account for a share of 47.5% of East Asian market revenue by 2034. The emergence of several local brands in the country offering herbs and spices is having a positive impact on market expansion. These brands are investing significantly in promotional and marketing activities, which make the country one of the most prominent spice markets in the region.

Why are Seasonings and Spices Gaining Popularity in Japan?

“Modifications in Food Preferences across Japan”

Attribute	Japan
Market Value (2024E)	US$ 2.8 Billion
Growth Rate (2024 to 2034)	6% CAGR
Projected Value (2034F)	US$ 5 Billion

Japan is analyzed to possess a share of 29.4% of the market in East Asia by 2034. There are certain modifications in the food preferences of more consumers in the country. This change is opening new opportunities for present food service outlets to incorporate a wide variety of seasonings and spices in their cuisines.

Category-wise Insights

Based on nature, there is an increased demand for conventional spices due to their ability to impart better taste, flavor, and aroma to several foodstuffs, thereby retaining their popularity. In addition, they are comparatively inexpensive, which is contributing to their increased preference among end users.

Which Form of Seasonings and Spices is Gaining Popularity?

“Rising Use of Crushed Spices in Conventional Dishes for Enhancing Taste and Aroma”

Attribute	Crushed
Segment Value (2024E)	US$ 18.5 Billion
Growth Rate (2024 to 2034)	6% CAGR
Projected Value (2034F)	US$ 33.3 Billion

Crushed seasonings and spices are expected to capture a 45.6% share of the global market by 2034. Increased demand for crushed seasonings and spices is attributed to their growing use in conventional dishes in some regions, such as Asia. These crushed spices give an improved mouthfeel while helping enrich the taste and aroma of prepared dishes.

Which Product Type is Set to Account for High Revenue Streams?

“Growing Preference for Herbs for Their Exceptional Medicinal Properties and Taste”

Attribute	Herbs
Segment Value (2024E)	US$ 22.9 Billion
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 38.5 Billion

Herbs are calculated to hold a share of 52.8% of global market revenue by the end of 2034. Increased demand for several herbs, such as oregano, basil, garlic, fennel, parsley, and peppermint is due to their health benefits. More consumers around the world are using them for their exceptional medicinal properties and taste. For instance, garlic is generally consumed for its unique flavor and strong aroma. In addition, it also finds applications in treating flu and other similar illnesses.

Competitive Landscape

Key players in the seasoning and spice industry are constantly putting efforts into acquisitions, collaborations, partnerships, and new product launches. These initiatives aim to strengthen the position of market players and enrich their product portfolio.

For instance:

• Kerry, in February 2021, announced Jining Nature Group’s acquisition. The latter is a prominent manufacturer of savory seasonings and flavors in China. This initiative will add a wide range of authentic regional and local technologies to Kerry's portfolio.
• Olam Food Ingredients (OFI), in May 2021, announced the acquisition of Olde Thompson, which is a private-label seasonings and spices manufacturer based in the United States. This initiative builds a 15-year partnership between these companies and marked a noteworthy milestone in the spices business of OFI.

Fact.MR provides detailed information about the price points of key manufacturers of seasonings and spices positioned across the world, sales growth, production capacity, and speculative technological expansion, in this recently updated market report.

Segmentation of Seasoning and Spice Market Research

• By Form :

  • Whole
  • Crushed
  • Powder

• By Product :

  • Spices
  • Herbs

• By Nature :

  • Organic
  • Conventional

• By Sales Channel :

  • Modern Trade Channels
  • Neighborhood Stores
  • Online Stores
  • Brick & Mortar Retail Stores
  • Specialty Stores

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA