The dried spices market has arrived at a CAGR of 4.6% during the conjecture time frame. The market is projected at US$ 5,763.5 million of every 2022, and is probably going to be esteemed at US$ 9,036.5 million by 2032.
Dried spices are responsible for producing the scent and taste associated with culinary and convenience food products. As a result, they are an essential component of all food products. Dried spices include pepper, paprika, allspice, capsicum, cardamom, cloves, coriander, turmeric, cumin, caraway, nutmeg, ginger, cinnamon, mace, juniper berries, fennel seeds, saffron, fenugreek, anise seeds, and others. The global dried spices market is predicted to expand at a rapid pace, owing to the expanding food and beverage industries around the world.
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Dried Spices Market: Growth Dynamics
Dried spices are prominence utilized in different food and refreshments. Aside from this, these spices are progressively utilized in the assembling of conspiracy items including snacks, sauces, soups, canned items, and others. Consequently, developing interest for this multitude of items is affecting emphatically on the development of the worldwide dried spices market.
Dried spices are building up forward movement of different organizations working in the drug business. One of the critical purposes behind this situation is assorted restorative upsides of dried spices. Subsequently, merchants from the worldwide dried spices market are acquiring awesome interest valuable open doors from drug industry. Aside from this, developing pattern of foods and rising ubiquity of prepared to-utilize spices combinations are invigorating the development of the worldwide dried spices market.
Growing cuisine trend and high popularity for ready-to-use spice mixtures such as oregano are expected to bolster the dried spices market in developed as well as developing economy. Macroeconomic factors affecting the global dried spices market include increasing population, globalization, climatic condition, etc.
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Global Dried Spices Market: Regional Overview
Overall, the outlook for the global dried spices market is positive over the forecast period, attributed to varying medicinal benefits of spices, demographics & globalization, increasing trend of diverse cultural cuisine, increasing consumption of processed foods.
On the basis of geography, the global dried spices market is fragmented into seven regions namely, North America, Western Europe, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Among the regions, combining both Western Europe and Eastern Europe dominates the global dried spices market in terms of revenue contribution owing to the relatively high demand for dried spices from the food & beverages and pharmaceutical industries.
Europe rank at the second position in terms of volume in global dried spices market. Europe is followed by Asia Pacific in the global dried spices market in terms of value whereas, rank at a top position in terms of volume in the market over the forecast period owing to developed standard of living which enable consumers to spend more on food products and increasing population in developing countries including India and China.
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Global Dried Spices Market: Key Players
Some of the players identified in the global dried spices market include DS Group, The Kraft Heinz Company, Ajinomoto Co. Inc., Knorr Foods Co., Ltd., Nestle S.A., McCormick & Company, Bart Ingredients Company Ltd., Baria Pepper, MDH Pvt. Ltd., and Everest Spices company.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and applications.
Global Dried Spices Market: Segmentation
The global dried spices market is segmented on the basis of product type, distribution channel, end-use, and region. On the basis of product type, mixed and individual spices segment is expected to dominate the global dried spices market over the forecast period, owing to relatively high demand for the segment among all other segments in household as well as commercial and industrial segment.
Online channel segment is expected to expand at a significant growth rate over the forecast period on the basis of distribution channel for household and food service application. Among the end-use segments, industrial segment is expected to account for around half of the overall dried spices market.
The retail segment is followed by industrial segment and is expected to expand at a significant growth rate over the forecast period in global dried spices market. Catering segment is expected to account for relatively low revenue share of 10-20% in the global dried spices market.
Based on the product type, the global dried spices market is segmented into:
- Mixed and Individual Spices
- Pepper
- Paprika
- Allspice (Pimento)
- Capsicum
- Cardamom
- Cloves
- Coriander
- Turmeric
- Cumin
- Caraway
- Nutmeg
- Ginger
- Cinnamon
Others (Mace, Juniper Berries, Fennel Seeds, Saffron, Fenugreek, Anise seeds, etc.)
- Dried Herbs
- Oregano
- Thyme
- Parsley
- Marjoram
- Bay Leaves
- Mint
- Savoury
- Others (Rosemary, Basil, Dill, Tarragon, Sage, etc.)
- Salt & Salt Substitutes
- Others
Based on the distribution channel, the global dried spices market is segmented into:
- Hypermarket/ Supermarket
- Grocery Stores
- Online Channel
- Others
Based on the end-use, the global dried spices market is segmented into:
- Retail
- Industrial
- Catering
Based on the source, the global dried spices market is segmented into:
- Natural
- Organic
Based on the product form, the global dried spices market is segmented into:
- Powder
- Whole Dried Spice
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