The Global Spices Market was $9.12 Bn in 2020, and it is expected to reach $14.5 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 4.2% between 2021-2031. But due to the current COVID-19 pandemic, there might be a slight difference in the growth rate in the present year. Increased demand for authentic cuisines across the globe is one of the main factors that will help to accelerate the growth of this market during the forecasted period.
Global Spices Market Is Estimated To Witness Remarkable Growth
Source: SAI Research
The Global Spices Market has been segmented into product and form. On the basis of product Global Spices Market has been segmented into Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves, Others. On the basis of form it has been segmented into Powder, Whole, Chopped/Crushed.
By Region, Asia Pacific Is Holding The Major Market Share
The Global Spices Market has been geographically segmented into North America, Asia Pacific, South America, Middle East, and Africa region. In addition to this, Asia Pacific Global Spices Market is holding the largest market share at present and is estimated to witness a high compound annual growth rate during the upcoming forecasted period. Most of the spices and herbs are grown in countries that include China, Vietnam, Thailand, India which has led this region to dominate the market during the forecasted period.
Major Players in Global Spices Market
Some of the major players in the Global Spices Market include Ajinomoto Co., Inc., Associated British Foods plc, ARIAKE JAPAN CO., LTD., Baria Pepper, Kerry Group, The Bart Ingredients Co. Ltd., DS Group, Everest Spices, Dohler Group, McCormick & Company, Inc., Olam International Limited, SHS Group, Worlee Gruppe, Sensient Technologies.
The Global Spices Market Has Been Segmented Into:
Global Spices Market, By Product
Global Spices Market, By Form
Global Spices Market, By Region