The dried spices market refers to the industry involved in the production, processing, and distribution of various spices that have been dried to extend their shelf life and enhance their flavors. Spices are derived from plants and are used to add aroma, taste, and color to a wide range of food and beverage products. The dried spices market has experienced significant growth over the years, driven by several factors. Firstly, the increasing consumer demand for convenient and ready-to-use food products has contributed to the popularity of dried spices. These spices are widely used in households, restaurants, and foodservice establishments to enhance the flavor profiles of dishes. Additionally, the growing interest in diverse cuisines and flavors from around the world has boosted the demand for dried spices. As consumers become more adventurous in their culinary choices, there is a higher demand for spices like chili powder, cumin, turmeric, paprika, cinnamon, and many others.
Furthermore, the increasing awareness about the health benefits associated with spices has also driven the market growth. Many spices possess antioxidant, anti-inflammatory, and antimicrobial properties, making them sought-after ingredients in the food and beverage industry. Additionally, spices are often used as natural alternatives to artificial flavorings and preservatives, further fueling their demand. The dried spices market is highly fragmented, with both small-scale and large-scale producers and suppliers operating in the industry. Some companies specialize in sourcing and processing specific spices, while others offer a wide range of spice blends and formulations. These companies may sell their products directly to consumers or through various distribution channels, including supermarkets, grocery stores, online platforms, and foodservice providers.
The market for dried spices is influenced by factors such as agricultural conditions, climate, and geopolitical factors that affect the production and availability of spices. Prices of spices can be volatile due to factors like weather events, crop diseases, and changes in demand and supply dynamics. In recent years, there has been an increasing focus on product quality, food safety, and sustainability within the dried spices market. Consumers are demanding spices that are free from contaminants, adhere to food safety standards, and are produced using sustainable and ethical practices. This trend has led to the implementation of quality control measures, certifications, and traceability systems by spice producers and suppliers.
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Key Takeaways from the Market Study
- Organic nature dried spices expected to possess more than 40% market share
- Conventional dried spices to retain popularity, registering a CAGR of 4% through 2031
- Supermarkets/hypermarkets remain key distribution channels, accounting for more than 2 out of 5 sales
- North America expected to hold more than a quarter share for dried spices
- Prevalence of hybrid cultures encouraging dried spices uptake in Europe, possessing 20% revenue share
- Asia to dominate the dried spices market, accounting for 2/5th of global revenue share
- Global market for dried spices to reach US$ 5.5 Bn by 2021-end
Impact of COVID-19 on Dried Spices Covers Market:
The report also contains the effect of the ongoing worldwide pandemic, i.e., COVID-19, on the Iron Oxide Pigments Market and what the future holds for it. It offers an analysis of the impacts of the epidemic on the international market. The epidemic has immediately interrupted the requirement and supply series. The Iron Oxide Pigments Market report also assesses the economic effect on firms and monetary markets. Futuristic Reports has accumulated advice from several delegates of this business and has engaged from the secondary and primary research to extend the customers with strategies and data to combat industry struggles throughout and after the COVID-19 pandemic.
Competitive Landscape
Prominent players of dried spices industry are Sensient Technologies Corporation, Synthite Industries Ltd, McCormick & Company, Inc, Kerry Group Plc, Dohler GmbH, Takasago International Corp, Olam International Limited, Firmenich SA, Ajinomoto Co., Inc and Robertet SA.
- In March 2021, McCormick & Company, Inc announced that they are restoring retail store shelves with their products. Due to the pandemic in 2020, the company offered products which were popular and in demand from customers. Due to work stations gaining normalcy, the company reached at a ‘halfway point’ in restoring spices
- In December 2018, Kerry Group announced an agreement to acquire two seasonings companies- Ariake USA, the North American Division of Ariake Japan Co., and Southeastern Mills North American coatings and seasonings business, enhancing the company’s authentic taste and clean label portfolio
Key Companies Profiled
- Firmenich SA
- Ajinomoto Co., Inc.
- Robertet SA
- Kerry Group Plc.
- Synthite Industries Ltd.
- McCormick & Company, Inc.
- Takasago International Corp.
- Olam International Limited
- Sensient Technologies Corporation
Key Segments Covered in Dried Spices Industry Research
- By Product :
- Pepper
- Paprika
- Cardamom
- Cloves
- Turmeric
- Cumin
- Nutmeg
- Ginger
- Cinnamon
- Others
- By Form :
- Powdered Dried Spices
- Granule Dried Spices
- Whole Dried Spices
- By Nature :
- Conventional Dried Spices
- Organic Dried Spices
- By Sales Channel :
- Supermarkets/Hypermarkets
- Convenience Stores
- Speciality Stores
- Department Stores
- Online Stores
- Others
Regional Segments Analysed Include:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
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