The preference of consumers has changed radically since the past few years. A major reason for this is globalization, owing to which, different cultures are now being celebrated all across the globe. This includes the changing eating habits of people, as now consumers are open to experimentation and are increasingly trying new flavors and tastes. Recently Mexican, Chinese, and Continental cuisines have become increasingly popular all across the globe. These cuisine make extensive usage of different kinds of spices and seasoning, because of which, the demand for these products is growing rapidly all across the globe.

Another major reason for the growth of the seasonings and spices market is the rapid expansion of the e-commerce industry. Much like several other industries, the seasonings and spices has also recognized the potential of online platforms, which is why several companies have started selling their products on a number of online platforms. Other than this, online advertising has also become a major part of marketing campaigns for these companies. Through online advertising, seasonings and spices companies are encouraging people to come up with new recipes at their houses and hosting competitions, which aid in establishing the identity of the brand in the market.

People these days are becoming conscious regarding their health, due to which they have started cooking meals at home instead of going out. This, in turn, is resulting in the growing demand for seasonings and spices. In addition to this, consumers are increasingly becoming aware regarding the medical benefits. These products can significantly help in the management of several diseases and disorders. For example, the utilization of cinnamon aids in lowering heart disease risk factors and blood sugar levels. Similarly, sesame seeds help in improving blood pressure and heat health, balancing hormones, enhancing nutrient absorption, and fighting cancer.

The global seasonings and spices market is projected to generate a revenue of $30.4 billion by 2023, increasing from $21.5 billion in 2017, and is predicted to progress at a 6.0% CAGR during the forecast period (2018–2023). The market is bifurcated into whole and ground in terms of product, between which, the whole bifurcation accounted for the larger share of the market in 2017. This is due to the fact that whole seasonings and spices are utilized in both residential and industrial sectors. The bifurcation is further divided into ginger, aniseed, saffron, chili flakes/pepper, vanilla, chives, tarragon, cinnamon, thyme, cumin, rosemary, dill, sesame, fennel, blue poppy seeds, and white poppy seeds.

As per a report by P&S Intelligence, the Asia-Pacific region dominated the seasoning and spices market, both in terms of volume and value, in 2017. This is primarily due to the surging population in countries such as India and China, which is creating high demand for these products. India is the second-most populated country and the largest consumer of spices and seasonings across the globe.

The demand for these products is also expected to increase significantly in North America and Europe in the coming years, as the consumption of various spices in these regions has increased considerably in recent times.

In conclusion, the demand for seasonings and spices is increasing because of the expanding e-commerce sector and changing food habits of people around the world.

Source: P&S Intelligence