Spice Market: Global Industry Segments, Opportunity, Supply and demand, Growth and Forecast, 2014-2020
Spices are the ingredients used to enhance the taste and quality of food. It helps to improve the aroma of food and sustained the nutritional value of food. Spices are available in different forms like seed, fruit, root, bark, berry, bud or vegetable substance. Spices are also used for coloring or preserving food items. Some spices like turmeric are used as an antiseptic. Generally, spices used in food item are typically in dried form which leads to longest shelf life.
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The overall spices market is expected to grow at a fast pace, due to its rising demand for convenience foods. The main opportunity lies with spices is its application as a natural preservative for meat and poultry which is expected to grow exponentially with growing food industry. The global spices demand has increased substantially over the past few years and is expected to rise especially in Asia Pacific region. The growing demand from industries such as confectionery, prepared food and bakery helps to drive the spices market. However, uncertain climatic conditions and stringent government regulations in spice manufacturing, in countries like Canada, U.K., France is expected to affect the growth of this market.
The report segments the spice market on the basis of product type, applications, and geography. Major product segments covered in this report includes pepper, cumin, clove, cardamom, ginger and others. Frozen food, sauces, soups, meat, bakery, poultry food, convenience foods, and others are the application segments of the spice market.
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On the basis of the geography, the spice market can be segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa with its further bifurcation into major countries including U.S., Germany, France, UK, China, Japan, India, and Brazil. North America was the leading region of spice market followed by Europe and Asia-Pacific.
In order to give the users of this report a comprehensive view on the spice market. The report includes detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the spice market has also been included. The study encompasses a market attractiveness analysis, wherein product type segments are benchmarked based on their market size, growth rate, and general attractiveness.
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The report provides comprehensive competitive analysis and profiles of prominent market players, such as MTR Foods Private Limited, Everest Spices, Associated British Foods, Ajinomoto Co., Inc., Kerry Group Plc, Sensient Technologies, SHS Group, Worley Gruppe, Ariake Japan Company Ltd., Dohler Group, Olam International, DS Group, Mccormick & Company, and Ariake Japan Company Ltd.
The report segments the global spice market into:
Global Spice Market: Product Segment Analysis
Global Spice Market: Application Segment Analysis
- Frozen Food
- Poultry Food
- Convenience Foods
Global Spice Market: Regional Segment Analysis
- North AmericaU.S.
- Asia PacificChina
- Latin AmericaBrazil
- Middle East & Africa
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