The global spices and seasonings market was evaluated at almost USD 15 billion in 2016 and is anticipated to surpass USD 18 billion by 2021, says Technavio.
Technavio has posted its newest industry research report on the global spices and seasonings market, under its food portfolio. This market study discloses the primary drivers and key developing trends and put forward an analysis of key sellers like AJINOMOTO, Associated British Foods, Kerry, McCormick, and The Kraft Heinz Company.
According to Manjunath Reddy, a lead analyst for food research at Technavio, “The growing demand for ready-to-use spice mixes will boost the sales in the global spices and seasonings market. These spice blends are gaining immense popularity among consumers as they save time, effort and provide consistency in taste every time food is prepared. The availability of a wide variety of ready-to-use spice mixes will drive the growth of the global market.”
The hectic lifestyles of consumers, growing demand for convenience in food preparation, and increasing disposable incomes will lead to an increasing demand for ready-to-use spice mixes. The use and availability of ready-to-use spice mixes have made food preparation easy and quick for consumers. The vendors are launching varied aromatic tablets and blended spices developed for specific and exotic cuisines to attract more consumers and increase their sales.
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New product launches
The manufacturers are focusing on the introduction of new products in the global market to meet the requirements of the consumers and to sustain the intense competition. These products are specifically designed to enhance and add innovation in home dishes and dining experiences at restaurants. Some of the variety available in the market include gluten-free recipe seasoning mixes, flavored sea salts, sriracha seasoning, chili peppers, and burger sauce mix-ins used in grilling and dining occasions. These seasoning blends primarily cater to convenience food producers that provide fast food, fast casual, and other foods.
Rising demand for organic spices and seasonings
The growing consumer preference for organic spices and herbs will revolutionize the global spices and seasonings market over the next few years. The rising awareness of the importance of good health and the health benefits of organic spices will boost the demand for these products in the global market. For instance, in 2016, Simply Organic, an all-organic brand of Frontier Co-op, launched five new savory dips and seasoning mixes to meet the growing requirement of the consumers for organic spices.
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This industry research study includes a detailed breakdown of market shares and sizes of the sub-segments and geography. A study of the key companies, including their business overview, market shares, main financials, etc. is offer in this report. This market study also provides a comprehensive analysis of primary drivers, challenges, and opportunities influencing this market.
A thorough analysis is presented in the Technavio report titled, ‘Global Spices and Seasonings Market 2017-2021’. Technavio also customizes reports by supplementary regions and detailed segments upon request.
Other related reports:
- Global Turmeric Market 2017-2021
- Spices and Seasonings Market in the US 2016-2020
- Global Food and Salad Dressings Market 2016-2020
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