Spices and Seasonings Market to Register CAGR worth 4.67% during 2022-2029; Sensient Natural Ingredients LLC (SNI) Acquires New Mexico Chili Products Inc. to Mark Development

The global Spices and Seasonings Market size was USD 17.75 billion in 2021. The market is projected to grow from USD 18.47 billion in 2022 to USD 25.42 billion by 2029, exhibiting a CAGR of 4.67% during the forecast period.

This information is provided by Fortune Business Insights™, in its report, titled, “Spices and Seasonings Market Size, Share & COVID-19 Impact Analysis, By Type (Pepper, Chili, Ginger, Cinnamon, Cumin, Turmeric, Nutmeg and Mace, Cardamom, Cloves, and Others), By Application (Meat and Poultry, Bakery and Confectionery, Frozen Food, Snacks & Convenience Food, and Others), and Regional Forecast, 2022 – 2029”.

The market is basically steered by factors such as the surging inclination towards ethnic cuisines. It is therefore navigating the demand for spice blends and novel spices. Spices are frequently utilized by the vegan masses as meat replacements.

COVID-19 Impact

Commotion in Supply Chain and Trade in Food Industry amid COVID-19 Pandemic to Hinder Market

The COVID-19 virus outbreak led to slow growth on account of manifold monetary, dogmatic, and communal alterations. The commotion remarkably swayed the global spice segment, with its value chain extending from the basic manufacturing hubs in establishing nations to the global spice trade network. Post the infliction of lockdown guidelines by national governments to stop the further spread of the virus, there has been a lack of workforce triggered by worker relocation. The boundary ceasing held in China and India further commenced the deterioration in the costs of a few spices.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/spices-and-seasonings-market-101694

Kerry Declares Procurement of Jining Nature Group

Kerry, who is a taste and nutrition company, has declared that it has accomplished the procurement of the Jining Nature Group. The company is a dominating Chinese producer of savory flavors, seasonings, and ready food products and possesses well-settled country-wide positions in the savory flavor and cooked foods segments in China. This procurement will invite a varied variety of authentic local and domestic taste technologies and application competencies to the Kerry portfolio.

Driving Factor

Capitalization in Digitalization of Spices Supply Chain to Spur Market Growth

Digitalization is turning to be more vital in the acquisition of spices and herbs. Sensors, digital tools, and online movements are among the novel trends to transform the entire supply chain into a more apparent and sustainable method. Numerous farmers across the nation use digital technologies such as smartphones, sensors, drones, and satellites. These technologies present numerous solutions for spice and herb producers, involving remote measurement of soil conditions, enhanced water administration, pest and disease appearance predictions, and crop administrating.

Competitive Landscape

Procurement Commenced by Prime Companies to Endorse Market Growth

The dominating players in the market continually are looking for proficient tactics employed in order to spur their brand value as well as advertise the global Spices and Seasonings Market growth with facing the lowest imaginable hurdles. One such perfect strategy is acquiring competitive companies and further safeguarding a profit for both the involved companies.

Industry Development

• March 2021: Sensient Natural Ingredients LLC (SNI) declared that it had accomplished the procurement of New Mexico Chili Products Inc., which is located in Deming and is a dehydrated chili production division.

List of Key Players Covered in the Report

• McCormick & Company, Inc.  (U.S.)


• Kerry Group Plc (Ireland)


• Watkins Incorporated (U.S.)


• Olam International (Singapore)


• Associated British Foods PLC (U.K.)


• Ajinomoto Co., Inc. (Japan)


• Sensient Technologies Corporation (U.S.)


• ARIAKE Japan Co. Ltd. (Japan)


• SHS Group (U.K.)


• Worlée Group (Germany)

Further Findings

On the basis of application, the global market is segmented into meat and poultry, bakery and confectionery, frozen foods, snacks and convenience foods, and others. Snacks and convenience foods are the most important commodities in the spice and seasoning trade and are expected to lead during the forecast period.

North America held the largest Spices and Seasonings Market share and stood at USD 7.48 billion in 2021. North America has been one of the major markets for spices & seasonings as new consuming habits change how consumers think about herbs.

Table of Segmentation