Spices and Herbs Market was valued at USD 22.0 Billion in 2022 and is projected to reach USD 36.8 Billion by 2030, growing at a CAGR of 7.0% from 2024 to 2030.
The global spices and herbs market was valued at approximately USD 16.5 billion in 2022, with a compound annual growth rate (CAGR) of 5.8% projected through 2028. This growth is driven by increasing consumer awareness about the health benefits of spices and herbs, alongside a rising demand for natural and organic ingredients in food products. Key regions such as Asia-Pacific and North America are experiencing significant growth due to heightened interest in diverse culinary experiences and the incorporation of spices in health and wellness trends. The market is also benefiting from the expansion of the foodservice industry and the growing trend of home cooking, which has increased the consumption of spices and herbs.Emerging markets present substantial opportunities, particularly in regions like Latin America and the Middle East, where traditional cuisines rely heavily on spices and herbs. Additionally, the expansion of e-commerce platforms has facilitated easier access to a wide variety of spice and herb products, further boosting market growth. Innovations in product offerings, such as spice blends and health-focused herb formulations, are also contributing to market expansion. As consumers continue to seek out both flavor and functionality in their food choices, the spices and herbs market is poised for robust growth and diversification in the coming years.
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McCormick & Company
Olam International
Royal Spices
Prymat
Krauter Mix GmbH
Worlee NaturProdukte
Elite Spice
DF World of Spices
Mahashian Di Hatti
The British Pepper & Spice
Koninklijke Euroma
Everest Spices
Paulig Group
Verstegen Spices & Sauces
TOUTON
SOLINA GROUP
Cinnatopia
Sleaford Quality Foods
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Spices and Herbs Market
Food Industry
Beverages
Cosmetics & Personal Care
Others
Based on Types the Market is categorized into Below types that held the largest Spices and Herbs market share In 2023.
Cinnamon
Clove
Nutmeg
Cardamom
Paprika
Other
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Spices and Herbs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Spices and Herbs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Spices and Herbs Market, By Type
6. Global Spices and Herbs Market, By Application
7. Global Spices and Herbs Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Spices and Herbs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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