The global spices and seasonings market size was valued at USD 19.30 billion in 2023 and is projected to grow from USD 20.19 billion in 2024 to USD 29.57 billion by 2032, exhibiting a CAGR of 4.89% during the forecast period. North America dominated the spices and seasonings market with a market share of 40.47% in 2023. Moreover, the spices and seasonings market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 6.91 billion by 2032, driven by growing demand for convenience and ready-to-eat food products and escalating popularity of ethnic cuisines.

Spices and Seasonings are the ingredients used to give food and beverage products aroma, flavor, preservation, and color. These products are derived from various plant parts, including flowers, barks, fruits, buds, seeds, leaves, roots, and plant tops. Spices are used in various foods and beverages, including healthy raw materials such as turmeric and pepper. The global demand for such healthy spices indicates the market’s upward trajectory.

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What Does the Report Include?

  • In-depth analysis of market trends, growth drivers, challenges, opportunities, and potential barriers in the spices and seasonings industry.
  • Evaluation of economic, political, and social factors influencing market dynamics.
  • Insights into key forces shaping market expansion.
  • Assessment of competitive intensity and potential threats from new market entrants.

Growing Demand for Organic Spices & Herbs to Drive Market Growth

The global demand for organic spices is rising, with China, India, and Vietnam leading as major exporters. These countries supply a wide range of organic spice commodities, including ginger, garlic, and chilies. In developed regions like Europe, consumers increasingly prefer organic spices due to their natural composition and pesticide-free properties. Additionally, growing awareness of the medicinal benefits of spices is expected to drive market expansion, further fueling demand for organic herbs and spices.

Snacks and Convenience Food Segment to Dominate Amid Rising Snack Consumption

By application, the spices and seasonings market is segmented into snacks and convenience food, meat and poultry, frozen food, bakery and confectionery, and others. Among these, the snacks and convenience food segment is expected to hold the largest market share, driven by increasing snack consumption across various countries.

Meanwhile, the bakery and confectionery segment is projected to be the second-largest contributor to market growth, supported by the rapid expansion of the bakery industry, particularly in emerging markets like Asia Pacific.

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Regional Insights

Asia Pacific to Dominate, Driven by Expanding Food Processing Industry

Geographically, the spices and seasonings market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Asia Pacific is expected to witness significant growth, fueled by the rapid expansion of the food processing sector, a deep-rooted preference for spicy foods, and a rising population. India continues to be the world’s largest producer and consumer of various spices.

Europe is also poised for notable growth, primarily due to increasing demand for organic spices. Changing consumer preferences are expected to create new market opportunities, with the region importing substantial volumes of ginger, capsicums, and pepper.

Key Market Players

According to Fortune Business Insights, some of the major companies operating in the spices and seasonings market include:

  • Ariake Japan Company
  • McCormick & Company
  • SHS Group
  • Kerry Group Plc
  • Olam International Limited
  • Ajinomoto Co., Inc.
  • Worlée-Chemie GmbH
  • Associated British Foods
  • Sensient Technologies
  • Döhler Group

Industry Development

Ajinomoto Expands Ros Dee Flavor Seasoning Production in Thailand

In August 2016, Ajinomoto Co., a Japan-based food and biotechnology company, announced a USD 23.1 million investment to meet the rising demand for flavor seasonings in Thailand. The company aims to increase the production capacity of its popular seasoning product, Ros Dee, in response to growing consumer demand. Over the past five years, the Thai flavor seasoning market has expanded by approximately 1.3 times, reaching around 70,000 tons in 2015. This upward trend is expected to continue as more households, food stalls, and restaurants integrate seasonings into their cooking.

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