The dried spices market has arrived at a CAGR of 4.6% during the conjecture time frame. The market is projected at USD 5,763.5 million of every 2022, and is probably going to be esteemed at USD 9,036.5 million by 2032.
Dried spices play a crucial role in enhancing the aroma and flavor profiles of cuisine and convenience food products, making them indispensable in culinary applications. This diverse category encompasses a wide array of spices such as pepper, paprika, allspice, cardamom, cloves, coriander, turmeric, caraway, nutmeg, ginger, cinnamon, mace, juniper berries, fennel seeds, saffron, fenugreek, anise seeds, and more. The global dried spices market is poised for substantial growth, driven by the expanding food and beverages industry worldwide.
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Dried Spices Market: Growth Dynamics
Dried spices are widely utilized in various foods and beverages. Moreover, they are increasingly incorporated into the production of convenience products such as snacks, sauces, soups, canned goods, and more. This expanding demand for these diverse applications is significantly contributing to the positive growth of the global 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.
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.
Recent Developments in the Dried Spices Market
- In Jan 2022, Kerry Group, a public food corporation, unlocked its new state-of-the-art facility in Saudi Arabia, which is about 21,500 square feet.
- In Feb 2021, Kerry announced the completion of the acquisition with Jining Nature Group. It is a China-based company which holds a significant position in the market in the preparation of seasonings and flavors of food
Key Segments
By Product Type:
- Pepper
- Paprika
- Cloves
- Coriander
- Turmeric
- Cumin
- Oregano
- Thyme
- Parsley
- Marjoram
- Bay Leaves
- Mint
- Others
By Distribution Channel:
- Hypermarket/ Supermarket
- Grocery Stores
- Online Channel
- Others
By End-use:
- Retail
- Industrial
- Catering
By Source:
- Natural
- Organic
By Product Form:
- Powder
- Whole Dried Spice
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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