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Seasonings Market Size

Report ID: GMI3242
Published Date: Apr 2022
Report Format: PDF

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Seasonings Market Size

Seasonings Market size exceeded USD 6.5 billion in 2021 and is estimated to grow at over 5.5% CAGR between 2022 and 2028 due to increasing cuisine adaptations across the globe. The rising investments in production capacity expansion and R&D for innovative spice blends are expected to drive the global product demand.

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Seasonings are rich in nutritional contents, which include essential minerals and vital antioxidants, among several others. It is widely used in numerous application sectors such as restaurants, fast food chains, QSR’s and processed food products. Strong growth in tourism sector is anticipated to support the overall seasonings market share as tourists are often attracted to regional cuisines infused with special & popular natural seasonings. Besides, rise in the consumption of processed foods & beverages such as ready-to-eat meals, functional drinks, etc. will further boost industry size.

Seasonings Market Report Attributes
Report Attribute	Details
Base Year:	2021
Seasonings Market Size in 2021:	USD 6,665.4 Million
Forecast Period:	2022 to 2028
Forecast Period 2022 to 2028 CAGR:	5.5%
2028 Value Projection:	USD 9,852.4 Million
Historical Data for:	2017 to 2021
No. of Pages:	180
Tables, Charts & Figures:	136
Segments covered:	Region
Growth Drivers:	Growing foodservice sector generates a demand for new & exotic flavor enhancers Improvements in production processes and product portfolio expansion by manufacturers
Pitfalls & Challenges:	Lack of standardized regulatory guidelines

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Changing consumer taste preferences coupled with growing popularity of ethnic cuisines will drive product demand. Several free-trade activities, such as NAFTA, RCEP, AFTA, ISFTA, CAFTA-DR, etc. have opened new export avenues for industry participants. Moreover, growing foodservice industry will bolster market growth as restaurants, caterers, and chefs are the major consumers of seasonings owing to aromatic & sensory characteristics of the product. Besides, increasing consumer awareness pertaining to medicinal benefits associated with the product is expected to further augment the seasonings market growth.

Authors: Kunal Ahuja, Tushar Malkani

Frequently Asked Questions (FAQ) :

Global seasonings market is slated to surpass USD 9.5 billion by 2028 and is poised to expand at a CAGR of 5.5% from 2022 to 2028 owing to an increase in cuisine adaptations and rising R&D investments.

North America seasonings market size from poultry spice is anticipated to exceed USD 314 million by 2028 driven by the rising working population, busy lifestyles, hectic work schedules, and a range of other factors.

Asia Pacific seasonings market revenue is projected to depict substantial growth through 2028 considering the rising production of spices in India, Japan, and China.

Prominent companies in the seasonings industry comprise MDH Spices, Olam International, Everest Spices, Ajinomoto Co., Unilever, Corbion, Nestle, The Kraft Heinz Co., and others.