February 26, 2020
According to the research report titled ‘Seasonings Market Size By Type (Oregano, Pepper, Paprika, Ginger, Cinnamon, Cumin, Turmeric, Garlic, Cardamom, Coriander, Cloves), By Application (Bakery & Confectionery, Beverages, Frozen Foods, Savory Snacks, Meat & Poultry), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Romania, Hungary, Netherlands, China, India, Japan, South Korea, Malaysia, Indonesia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, the global seasonings market is expected to record considerable growth rate by the year 2025.
According to the report, rising multicultural population along with evolving taste preferences has led to growing inclination towards ethnic food products in the western economies, which in turn is driving the seasonings market growth. There has been an upsurge in demand for clean label products which in turn is driving the adoption rates of natural flavors and spices instead of artificial compounds. Adding to this, increasing acceptance of seasonings such as coriander, oregano, Mexican chilies, Chinese five spices, Indian garam masala and Thai curry mixes are further aiding the market expansion.
Seasonings such as turmeric offer anti-inflammatory and anti-oxidant properties which further helps in reducing the risks of brain disease and depression levels as well as prevents cancer and heart disease. Thus, increasing awareness pertaining to health benefits associated with seasonings are stimulating the industry outlook. Moreover, increasing consumption of savory products, meat & poultry, and frozen foods along with strict government regulations in order to maintain the quality standards are fostering the demand for seasonings across the globe. However, inflating prices of spices and rising prevalence of harsh climatic conditions may hinder the market growth.
As per type, the report cites that the demand for cinnamon will witness lucrative growth during the estimated timeframe, primarily due to properties such as medicinal benefits and superior aromatics and taste. The product helps to reduce the cholesterol levels and sugar levels.
Based on the application spectrum, savory applications of seasonings are presumed to expand significantly during the forecast period. Rapid urbanization and evolving lifestyles have led to shifting preferences towards processed food products. This factor along with growing demand for innovative savory snacks are facilitating the business scenario.
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As per regional analysis, the report states that Asia-Pacific seasonings market will exhibit a CAGR of 4.5% during 2019-2025. Growing demand for meat and frozen food products along with growing inclination towards using variety of spices are favoring the market outlook. Additionally, increasing consumption of savory and snacking products in tandem with easy availability of raw materials are augmenting the regional contribution to seasonings market.
The prominent companies operating in the seasonings market are Ariake Japan Co., Kraft Foods, Unilever Group, DS Group, Everest Spices, Symega Food Ingredients Ltd., MDH Spices, Ajinomoto Co., Associated British Foods Plc., Nestle, Corbion, Olam International, and McCormick & Co. Inc.
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