London, 2 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global spices and stimulants market 2015-2019, which is expected to grow at a CAGR of 8% by revenue and 3.18% by volume during the forecast period of 2014-2019.
A change in the taste and preferences of consumers is a major factor that complements growth in this market. A recent change in the consumers’ consumption pattern raises the prospect for experimentation of new cuisines, thus, facilitating the use of various spices in its preparation. Stimulants are also gaining traction in this market, and its ability to eliminate toxins is one of the key factors that drive market growth.
“Fast-paced lifestyles have encouraged the growth of the on-the-go refreshments market. Vendors are establishing outlets near busy markets, offices, and colleges to cater to the rising demand for beverages among students and the working population,” says Faisal Ghaus, Vice President of Technavio.
“The growing trend of having beverages during casual social conversations, particularly in developing economies where the youth population is high, is bolstering the market for coffee, tea, and cocoa vendors globally.”
Key Market Drivers:
- Rising Awareness of Health Benefits.
- Globalization of Cuisines.
- Increased Demand from Alternative Industries.
- Growing Investment in Production.
Key Market Trends:
- Growing Popularity of Spice Blends.
- Emergence of Café Culture.
- Increased Demand for Branded Spices.
- Growing Importance of Fairtrade Products.
Key Market Vendors:
- Associated British Foods plc
- McCormick & Co. Inc.
- Olam International Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
