Market Trends

Global Dried Spices Market Flourishes as Culinary Traditions Evolve and Health Awareness Increases

In an era where culinary tastes are rapidly evolving, and health awareness is more pronounced than ever, the global demand for dried spices is experiencing an upward trajectory. This growth is a direct outcome of several influential factors, including the globalization of food culture, the burgeoning appeal of convenient cooking solutions, and a heightened awareness of the numerous health benefits inherent in spice consumption.

PORTLAND, Ore., March 19, 2024 /PRNewswire/ -- In a comprehensive market research report published by Allied Market Research titled, "Dried Spices Market By Source (Natural and Organic), Product Type (Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Cloves, Nutmeg & Mace, and Others), Form (Powder, Granules, and Whole), and Application (Food & Beverage Industry, Foodservice Industry, and Retail): Global Opportunity Analysis and Industry Forecast, 2023-2032," it was revealed that the global dried spices market was estimated at a substantial $10.7 billion in 2022. Projections suggest a robust climb to $16.6 billion by 2032, with a compound annual growth rate (CAGR) of 4.6% from 2023 to 2032.

Prospective readers can gain further insights into the research via a downloadable sample report accessible through this link: Sample Report.

Prime Determinants of Growth

This exceptional expansion within the dried spices market is primarily propelled by growing knowledge of the various health benefits due to the consumption of dried spices. Turmeric, cinnamon, and ginger, renowned for their antioxidant properties, anti-inflammatory qualities, and beneficial impact on digestive health, are increasingly sought after. These spices align perfectly with the modern, health-conscious consumer who seeks functional foods — nourishing items that bring about a positive impact on their health. Consequently, industry manufacturers are capitalizing on these attributes by incorporating such spices into the production of functional foods.

Further propelling the market are innovations stemming from the increasing demand for organic spice products. This spirited demand is opening doors for numerous lucrative opportunities for market players in the imminent years.

Report Coverage & Details

This meticulously crafted report spans over a forecast period from 2022 to 2032, with the year 2022 serving as the baseline. Valued at $10.7 billion in 2022, the market is forecast to reach $16.6 billion by 2032, with a consistent CAGR of 4.6%. Spanning across 275 pages, the report thoroughly segments the market to cover a variety of perspectives such as Product Type, Packaging, Distribution Channel, and Region.

Among the various factors driving the growth of the dried spices market are the increased awareness regarding the health benefits associated with spice consumption, expansion of the food service industry, and a rise in remote work culture, which has consequently led to more home-based culinary activities.

The opportunities within the market are boundless, especially when considering the surge in demand for organic spice products and the increasing innovation within the food and beverage industry. However, the presence of counterfeit and color-added products poses a threat, as does competition from substitute spices.

The Natural Spices Segment: Leading the Market

Focusing on sources, the natural spices segment outperformed all others in 2022, grabbing more than three-fifths of the global dried spices market revenue. The forecast period doesn't expect to see any change in this dominance. Consumers gravitate toward natural dried spices because they offer a blend of cost-effectiveness, wide availability, and an adherence to long-standing culinary customs.

Natural dried spices, often more pocket-friendly than organic spices, make them economically appealing. Their widespread availability in grocery outlets enhances convenience for consumers who can readily find and purchase the ingredients for their culinary experiments. Though awareness about the differences between conventional and organic options might be limited, consumers frequently opt for natural forms driven by their accessibility and traditional usage.

In a quest for more statistics and strategies from industry leaders? Visit the detailed report at: Strategic Industry Leaders Report.

The Might of the Pepper Segment

When segmented by product type, the pepper segment held the dominant market share in 2022, accounting for almost one-fifth of the global dried spices market revenue. Its leadership status is likely to be unchallenged throughout the forecast period due to several contributing factors. Dried pepper products, celebrated for their convenience and extended shelf life over their fresh counterparts, fit seamlessly into the kitchen routines of contemporary consumers.

The burgeoning popularity of international cuisines where dried peppers are often a key ingredient further fuels the demand for these spicy constituents. Additionally, the known health benefits of peppers, which are rich in antioxidants and other nutrients, add to their appeal, thereby pushing the growth of this product segment.

Powder Form Spices: A Flavorful Frontier

The powder form, which includes spices in their ground state, was the preferred form accounting for more than two-fifths of the global dried spices market share in 2022. Due to the convenience they offer—removing the need for additional preparation such as grinding or chopping—powdered spices are a boon for efficiently minded home cooks and food industries alike.

Their shelf life is superior to whole spices, which aligns with the consumer trend of stocking pantry staples that last. The consistency of powdered spices allows for a more uniform distribution of flavor throughout dishes, a valued feature that enhances the culinary experience. The commitment from manufacturers to maintain high-quality standards through advanced processing technologies plays a critical role in this segment's widespread consumer preference and market dominance.

Food & Beverage Industry: The Spice Titans

In terms of application, the food & beverage industry segment held the lion's share in 2022, making up more than two-fifths of the dried spices market share. Dried spices are a cornerstone of flavor enhancement within the food and beverage realm, lending complexity and dimension to a plethora of consumables, which is driving the continuous demand for these flavorsome ingredients.

Such spices allow manufacturers to imbue their products with distinct qualities that help them stand out in a competitive marketplace. The healthful properties of spices like pepper, turmeric, and cinnamon, which dovetail nicely with trends towards wellness and functional ingredients, offer another compelling reason for this segment's sustained market preeminence.

Asia-Pacific: The Spice Powerhouse

Geographically, Asia-Pacific dominated the market in terms of revenue in 2022, a trend that is projected to persist throughout the forecast period. The region's stronghold is supported by the favorable climes of countries like India, China, Indonesia, Vietnam, and Thailand, which foster a vast production of dried spices.

The proximity of these spice-producing hubs to significant consumer markets ensures not just the supply but also the cost-effectiveness of dried spices, a fact that further promotes market growth. Additionally, government initiatives that endorse spice cultivation augment production capacity, cementing Asia-Pacific's status as a spice powerhouse.

For those interested in in-depth analysis or purchasing the report, please connect through the following link: Purchase Enquiry.

Spotlight on Market Leaders

The dried spices market is shaped by the contributions of key industry players, including:

• Everest Food Products Pvt. Ltd.
• McCormick & Company, Inc.
• Bart Ingredients Company Ltd.
• DS Group
• Firmenich SA
• Olam Group Limited
• The Spice House
• Simply Organic
• Sauer Brands
• Frontier Co-op

Their strategies, government policies, and patent positions, among others, dictate the current market dynamics and lay the groundwork for future expansion.

Insights and Trends in the Food and Beverages Industry

The report also provides a glimpse into trending reports within the food and beverage industry, offering market analyses and forecasts that include the Cajun Seasoning Market and the Organic Spices Market, as well as studies on Food Texture and Food Ingredients. These reports delve into the opportunities and forecasts essential for understanding the landscape of these sectors.

• Cajun Seasoning Market: Global Opportunity Analysis and Industry Forecast, 2021-2031
• Organic Spices Market: Global Opportunity Analysis and Industry Forecast, 2019 - 2026
• Food Texture Market: Global Opportunity Analysis and Industry Forecast, 2023-2032
• Food Ingredients Market: Global Opportunity Analysis and Industry Forecast, 2022-2031

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