Asia Pacific Seasoning and Spices Market Outlook 2031:
The Asia Pacific seasoning and spices market size was valued at USD 4.73 Billion in 2022 and likely reach to USD 7.74 Billion by 2031, expanding at a CAGR of 5.63% during the forecast period, 2023–2031. The growth of the market is attributed to the customer inclination to experiment with new flavors and increasing interest in ethnic tastes.
Spices and seasonings are added to food and beverage products to enhance aroma, texture, and taste. Spices, including cardamom, cinnamon, cloves, nuts, and peppers, are plant-based ingredients commonly used for flavor, coloring, and food preservation.
They are also widely used in medicine, cosmetics, and perfumes. Spices are a combination of salts, herbs, spices, and sugars that can be sweet, savory, acidic, or spicy. Cinnamon, paprika, and cumin are some of the most widely used spices, which are added to enhance the taste of any food.
The COVID-19 pandemic had significantly impacted the seasoning and spices across the globe, which has resulted in mass production shutdowns and supply chain disruptions. However, various research studies suggest that the use of certain spices can improve immune system and help to fight not only the COVID-19 but also many other diseases.
Seasoning and Spices Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer demand for healthier products, convenience, and a variety of flavors is expected to drive the market growth.
- Growing urbanization and changing lifestyle is anticipated to spur the growth of market.
- High demand for chili combinations is expected to contribute the growth of the market.
- Adulteration of spices can hinder the growth of the market.
- Consumption of spices in excess can affect one’s health negatively, thus such factor can hamper the growth of the market.
- Several spices and seasonings are prone to microbial contamination can create challenges for the market.
- Increasing demand for health and wellness products is estimated to create lucrative opportunities during the projected timeline.
Scope of Asia Pacific Seasoning and Spices Market Report
The Asia Pacific seasoning and spices market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Seasoning and Spices Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Salt & Salt Substitutes, Herbs, and Spices [Black Pepper, Cardamom, Cinnamon, Clove, Nutmeg, and Others]), Applications (Bakery & Confectionery, Meat, Poultry, & Seafood, Snacks & Convenience Foods, Soups, Sauces, Salads, & Dressings, and Others)
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Geographical Scope
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India, Japan, China, Australia, Vietnam, and Rest of Asia Pacific
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Kerry Inc.; Dohler Gmbh; McCormick & Company, Inc.; Sensient Natural Ingredients; and Olam International
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Asia Pacific Seasoning and Spices Market Segment Insights
Spices segment is anticipated to exhibit a high CAGR
On the basis of product types, the Asia Pacific seasoning and spices market is classified as salt & salt substitutes, herbs, and spices. The spices segment is further divided into black pepper, cardamom, cinnamon, clove, nutmeg, and others. The spices segment is expected to constitute a key share of the market during the projected period.
As western foods become more accessible and commonplace, consumers are developing a desire for fresh and delicious spices and seasonings. The major factor for this increase is presence of different cultures and the fact that people are increasingly visiting unusual places.
As a result, the demand for spices and seasonings in outdoor cuisine is estimated to grow at a rapid pace in the coming years. Growing demand for western food in the Asia Pacific has led to significant growth in the Asia Pacific, importing spices and seasonings from developing countries.
Snacks & convenience foods segment to hold a major market share
In terms of applications, the Asia Pacific seasoning and spices market is categorized as bakery & confectionery, meat, poultry, & seafood, snacks & convenience foods, soups, sauces, salads, & dressings, and others. .
The snacks & convenience foods segment is projected to expand at a considerable CAGR during the forecast period due to increasing consumption of snack items in some countries.
India is anticipated to constitute a key market share
Based on geography, the market is segregated into India, Japan, China, Australia, Vietnam, and Rest of Asia Pacific. India is expected to constitute a key share of the market during the projected period due to large spices production, low-cost labor, and lower prices of spices.
Segments
Product Types
- Salt & Salt Substitutes
- Herbs
- Spices
- Black Pepper
- Cardamom
- Cinnamon
- Clove
- Nutmeg
- Others
Applications
- Bakery & Confectionery
- Meat, Poultry, & Seafood
- Snacks & Convenience Foods
- Soups, Sauces, Salads, & Dressings
- Others
Geography
- India
- Japan
- China
- Australia
- Vietnam
- Rest of Asia Pacific
Key Players
Competitive Landscape
The key players competing in the Asia Pacific seasoning and spices market are Kerry Inc.; Dohler Gmbh; McCormick & Company, Inc.; Sensient Natural Ingredients; and Olam International.
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