Future Market Insights
Dried Spices Market: Snapshort
Herbs and spices enhance flavour in food items and that the reason they are widely used in the preparation of several culinary. The properties of spices to develop unique spins on typical food items such as salads, soups, appetizers, and entrees is increase their demand. Apart from this, spices are known for their several health benefits.
However, spices are specific to particular region and cannot be exported to other region in their original form. In order to export these spices and boost commercialization in the filed players in the market come up with a concept of dried spices.
Health benefits and unique flavour of dried spices are same as that of fresh spices and additionally they develop several desirable properties such as increased shell life, easy to use and easy to store. On account of these properties, the dried spices marker is expected to expand in the coming few years.
Rising consumer awareness regarding the properties of the dried species such as calorie-free properties weight control and diabetes control is another factor expected to show up in the favour of the dried spices market.
Along with these, several dried spices are known as the powerhouses of antioxidants. Increasing consumption of the dried spices reduces the risks related to prevalence of cancer and infections is another factor propelling the growth of the dried spices market. Bound to various health related benefits, the demand for the dried spices is expected to increase among the consumer in the time to come.
Dried spices are responsible for developing the aroma and taste related to the cuisine and convenience food products. Therefore, they are an integral part of any food products. A wide range of dried spices includes pepper, paprika, allspice, capsicum, cardamom, cloves, coriander, turmeric, cumin, caraway, nutmeg, ginger, cinnamon, mace, juniper berries, fennel seeds, saffron, fenugreek, anise seeds, etc. The global dried spices market is expected to grow at a significant growth rate, attributed to growing food and beverages industry across the globe. The Europe dried spices market is expected to register a relatively high revenue share over the forecast period followed by Asia Pacific dried spices market, attributed to increasing demand for dried spices in the household as well as the commercial and industrial segment. Asia-Pacific is expected to account for relatively high volume share with a significant growth rate in the global dried spices market over the forecast period.
Global Dried Spices Market: Dynamics
The factor driving the industrial segment in global dried spices market include increasing demand for convenience food including canned products, sauces, soups, snacks, etc. Growing food & beverages industry and medicinal benefits of dried spices are also some of the important factors driving the global 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. Uncertain climatic conditions and inefficient logistics are some of the restraining factors for global dried spices market over the forecast period. Companies manufacturing dried spices products can leverage potential opportunities in regions such as North America, Europe, and Asia Pacific, attributed to rapidly growing demand for food & beverages and medicinal products over the forecast period. Companies have a significant opportunity in the global dried spices market through collaboration with end-users i.e. food & beverages and pharmaceutical manufacturers. The changing food habits and trying new and expensive food items by the consumers are another important factor trending the global dried spices market.
Global Dried Spices Market: Segmentation
The global dried spices market is segmented on the basis of product type, distribution channel, end-use, and region. On the basis of product type, mixed and individual spices segment is expected to dominate the global dried spices market over the forecast period, owing to relatively high demand for the segment among all other segments in household as well as commercial and industrial segment. Online channel segment is expected to expand at a significant growth rate over the forecast period on the basis of distribution channel for household and food service application. Among the end-use segments, industrial segment is expected to account for around half of the overall dried spices market. The retail segment is followed by industrial segment and is expected to expand at a significant growth rate over the forecast period in global dried spices market. Catering segment is expected to account for relatively low revenue share of 10-20% in the global dried spices market.
Based on the product type, the global dried spices market is segmented into:
Mixed and Individual Spices
Others (Mace, Juniper Berries, Fennel Seeds, Saffron, Fenugreek, Anise seeds, etc.)
Others (Rosemary, Basil, Dill, Tarragon, Sage, etc.)
Salt & Salt Substitutes
Based on the distribution channel, the global dried spices market is segmented into:
Based on the end-use, the global dried spices market is segmented into:
Based on the source, the global dried spices market is segmented into:
Based on the product form, the global dried spices market is segmented into:
Whole Dried Spice
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.
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.
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