Seasonings are considered as a spice or ingredient readily available in all households dueto their importance in food products. It is essential in cooking as it adds aroma, flavor and taste to food. It ismainly used in food processing in both homes and restaurants. Another factor influencing the growth of the global spice market is the growing consumerdemand for homemade spices.As a result, the global spicemarket hasexperienced significant growth.Furthermore,increasing consumer demand for ready-to-eat and ready-to-eatmeals due to busylifestyles and inability to cook is themain driving force behind the growth of the global spices market during forecast period.
With the increasing influence of Westerncountries and globalization, the spice market has experiencedstrong growth over the years. The global spice market is growing as more andmore consumers usespices to enhance the taste and aroma of their dishes.Theproliferationof applications in various end-user sectors such as restaurants, cooking and health benefits is expected to facilitate the growth of the industryduring the forecast period.
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COVID-19 Impact analysis
- The spice and seasoning markethas seen a rapid rise with the onset of the coronavirus crisis, where some spices are selected for the purpose ofproviding immunity, such as turmeric, ginger and garlic, has received apositive response from consumers around the world.
- With developed economies largely dependent on imports from developing countries, supply chain risks persist at first, however, itis one of the most sought destinations for herbs, spices and seasonings, as well as products of recognizable value and local demand, due to which today’s market penetration is less affected.
- While the crisis also highlights the vulnerability of agricultural supply chains and thelong-term dependence of consumers on farmers and their workers, the shift to sustainable agricultural supply chains developed that will eventually end up in responseto such a global pandemic in the agricultural industry.
Top Impacting Factors
- The changes in eating habits and especially the rise inthepreferencefor Asian cuisine,haveadded more spices to the diet,which has also promotedthe development of the market. The adulteration of spices and seasonings is the main factor hindering market growth. Europe is the largest market of seasoning, followed by North America.
- Spices and herbs are more in linewith health and wellness.At the same time, retail food manufacturers have further increased the application of spices and seasonings to suit the tastes and preferences of consumersof different ethnicitiesaround the world.
- Products such as ginger, sweet pepper, raw pepper, turmeric, cinnamon and cloves have the greatestgrowth potential in the market.The negative effects of chemical foods, consumer preferences have shifted towards organicingredients.Therefore, manufacturers are also focusing on the development of organic ingredients for production. The nutritional value of various spices promotes the growth of the market.
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Market Trends
Widely used as natural preservatives in meat and poultry products
Consumersare increasinglyaware of foods with high nutritional value, free of preservatives and chemicals. Meat is an ideal environment for bacterial growth dueto its high humidity, rich in growth factors such as nitrogen compounds, and its source of minerals and vitamins. Meat preservatives limit microbial activity and the chemicaland physical reactions that cause deterioration of meat and meat products. Meat preservation works by reducing the amount of substances in the meat,leading to pathogen/bacterial overgrowth. The most commonly used chemical preservatives are sodium benzoate, benzoic acid and propionic acid.
While these preservatives help control microbial growth in meat, they also reduce its nutritional content. In addition, they also have negative health effects including hyperactivity in children, negative effects on kidneys and liver, digestion, gastritis and peptic ulcer disease.As a result,increasing consumer awareness of these negative effects of chemical preservatives has led to an increased demand for natural preservatives, including seasonings for meat and poultry products. This will ultimately increase the demand for spices and seasonings.
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Increase in the consumption of salt
The increase in salt consumption by food processors worldwide will remain constantdue toincreasing consumption of packaged and prepared foods in some countries. This is due to the expansion of the product line offering and production capacity levels by the major players in the industry, as well as the purchase of Morton Salt by many companies,makingit possible for theother companies to scaleup their production.
Asia Pacific is fastest growing market in the global market for seasonings. China is the region’s largestmarket, followed by the Indian market. The climatic conditions of the region are very favorable for the growth of spices and seasonings. Most of the Asia-Pacific countries use locally produced spices and seasonings. In addition, there is growing demand in the organic seasoning and seasoning segment. Thus Asia-Pacific produces the best quality of spices, givingit to the major producersin the region. In addition, a significant proportion of the region’s spices are exported to Europe and North America.
Key Benefits of the Report
- This study presents the analytical depiction of the SEASONING industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SEASONING market share.
- The current market is quantitatively analyzed from 2021 to 2030 to highlight the SEASONING market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed SEASONING market analysis based on competitive intensity and how the competition will take shape in coming years.
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