The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in demand for organic foods is projected to spur innovation in spice manufacturing, propelling the market during the forecast period.

The global spices market is expected to grow from $4.20 billion in 2022 to $4.48 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The global spices market size is expected to reach $5.70 billion in 2027 at a CAGR of 6.2%.

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Global Spices Market Segments Include:

• By Type: Garlic, Ginger, Turmeric, Cumin, Cinnamon, Pepper, Other Types
• By Form: Raw, Powder, Other Form
• By Category: Organic, Conventional
• By Application: Bakery And Confectionary Products, Meat And Poultry Products, Frozen Food, Soups, Sauces, Dressings, Other Applications
• By End User: Food Retail, Food Service, Food Processing
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global spices market in 2021.

Major Market Players in the spices market include Ajinomoto Co Inc., Associated British Foods Plc., Baria Pepper, Kerry Group Plc., The Bart Ingredients Co. Ltd., Dharampal Satyapal Group, Everest Food Products Pvt. Ltd., Dohler Group.

Product innovation is a crucial trend that is gaining traction in the spice business. Companies in the spice market are focusing on novel items to strengthen their market position. For example, Lifespice India Private Limited, an Indian-based manufacturer of health care, garam masala, and snack foods, will offer India’s first science-backed Spice Mixes in November 2022. These mixtures are made with 15 ingredients that do not include onions, ginger, garlic, or other veggies. The product is prepared electronically, with no human intervention or touch. The blended recipes are pulverised to a fineness of 600 microns and vacuum sealed in Food grade PET jars.

The Spices Global Market Report 2023  provides a spices market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The spices market forecast analyzes spices market size, spices market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Spices are flavorful and aromatic compounds obtained from plant roots, seeds, fruits, bark, or other elements. They are commonly used to improve the flavour, colour, and scent of food and beverages.

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