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Industry Insights, Market Size, CAGR, High-Level Analysis: Global Organic Spices MarketThe global organic spices market size was estimated at USD 38.35 billion in 2018. Rising awareness regarding the harmful effects of chemicals, pesticides, and additives is anticipated to drive the demand for organically cultivated spices. Other factors such as the changing food consumption trends and popularity of ethnic and exotic food are anticipated to propel the growth. Rising consumption of convenience foods such as, soups, snacks, and frozen and bakery products coupled with innovation of new flavors in convenience food segment is expected drive the product demand. Popularity of global and multi cuisine is also expected to be a major factor for driving the demand for organic spices. Rising customer preference for ready-to-use spices to save time while cooking without compromising the flavor is expected to promote the demand for spices in powdered form. Rising importance of authentic flavors with a fusion of ethnic ingredients is anticipated to remain a key driving factor for the market growth over the next eight years. Along with adding authentic taste and flavor to food, spices also have various health benefits. Organic spices such as, turmeric and ginger have antioxidant properties. Turmeric helps cure several health conditions including, Alzheimers disease, cancer, and joint pains. The antiseptic properties of cumin seeds help strengthen the immune system. Awareness regarding these advantages is anticipated to fuel the product demand in the forthcoming years. The organic spices market is driven by rising demand for spicy food. Demand for spices varies on the basis of region and country. However, globalization and urbanization around the globe is expected to break this geographical barrier in near future, driving the overall product demand for organic spices.
Product Insights of Global Organic Spices MarketPowder form is expected to generate a revenue of USD 12.01 Billion by 2025, as these products are easy to use, save time, and are ready to cook. High demand for ready to use products, owing to the rise in hectic lifestyle anticipated to further drive the demand. Rising disposable income of the customers is also anticipated to boost the consumption of convenience spices in near future. In October 2017, Sensient Natural Ingredients LLC launched a new range of organic botanical spices including pink pepper, saffron, and cardamom, among others. Whole spices is expected to expand at the fastest CAGR of5.3% during the forecast period. This segment includes raw and unprocessed, such as turmeric stems, ginger roots, cumin seeds, and black pepper. The growth of this segment is attributed to the increasing awareness regarding the health benefits of using various spices in raw form. For instance, the usage of black pepper in raw form helps cure digestive issues and boost immune system. Moreover, the awareness regarding the anti-bacterial properties of turmeric and other spices is expected to remain a prominent factor driving the growth of the segment.
Application Insights of Global Organic Spices MarketThe commercial segment held the largest market share in 2018, due to the high consumption demand from food processing units, restaurants, and food joints among others. Increasing consumption of fast foods and dine outs in developing countries from Asia Pacific including, India, China, and Bangladesh is anticipated to further drive the segment growth. The household sector, on the other hand, is expected to register the fastest CAGR during the forecast period, on account of rising awareness regarding health benefits of home cooked food and usage of organic spices.
Distribution Channel InsightsSupermarkets/hypermarkets generated revenue of around USD 7.38 Billion in 2018. The segment is driven by consumer preference for buying spices from the supermarkets. The easy product availability is anticipated to help the segment continue its dominance over the forecast period. Online distribution channel is expected to expand at the fastest CAGR of 5.4% from 2019 to 2025 on account of the introduction of various e-commerce stores to boost the product supply and access. The new companies such as Grofers, and Big Basket among others offer doorstep product delivery. These factors are expected to open new growth opportunities for this segment in the forthcoming years.
Regional Insights of Global Organic Spices MarketAsia Pacific held a market share of around 35% in 2018. The region is expected to witness growth on account of the increased consumption of flavored and ethnic organic spices influenced by the changing food trends and presence of large multicultural groups in emerging economies such as China and India. Moreover, introduction of the new and exotic flavors rise in consumer disposable income, and acceptance of innovative flavors is also expected to drive the regional demand. Europe is expected to generate a revenue of USD 4.60 billion by 2025. New product launches in U.K. and France are projected to remain a key trend. For instance, in 2017, McCormick extended its portfolio of spices and organic herbs in U.K. and France. Furthermore, the increased adoption of authentic flavors and authentic food preparation methods, especially for traditional staples from Eastern European countries such as Russia and Poland is expected to positively impact the growth.
Organic Spices Market Share InsightsKey market players include Yogi Botanicals Pvt. Ltd.; Live Organics; Starwest Botanicals; SalzhAusl Himalaya-Kristallsalz GmbH; Rocky Mountain Company; Rapid Organic Pvt. Ltd.; Organic Spices Inc.; Earthen Delight; The Spice Hunter; and Frontier Natural Products Corporation. The companies are developing new products and flavors to cater to the changing consumer preferences to capture larger market share.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Global Organic Spices Market Research ReportThis report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global organic spices market report on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
Application Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Convenience Store
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization 1. | read more...