Spices Market

Global Spices Market Size, Trends, and Analysis - Forecasts to 2026 By Product (Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves, Others), By Form (Powder, Whole, Chopped/Crushed), By Region (North America, Europe, Asia Pacific, MEA, and CSA), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis

Category Food & Beverages
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This report was recently updated on August 6 2022 with the latest and most recent market numbers

Global Spices Market: Insights

The global spices market is projected to grow from USD 6.21 billion in 2021 to 14.51 USD billion in 2026 at a CAGR value of 6.5% during the forecast period. Spices are the dried parts of specific plants that are used in preparing food to add extra flavor, and aroma. Rising demand for authentic cuisines globally and the rapidly growing trend of adoption of exotic flavors in foods and snacks is likely to prompt manufacturers to produce high-quality, appealing, and reliable products that can maintain consistent standards globally. These factors will help the global spices market to grow rapidly from 2021 to 2026.

The major end-user for spices are modern trade channels, retail stores and e-commerce portals. Spices are sold to these end-users through distribution strategy.  Retailers such as Walmart, Kroger’s, and Tesco are some of the examples of modern trade channels across the globe. Hence, rising number of retail stores, increasing number of modern trade channels across developing regions, and rising launch of new spices in the market will help the industry grow rapidly.

The origin of spices and their use in preparing food goes many centuries back, with their deep roots in various cultures across the world. The importance and application of spices were majorly found in south Asia and middle eastern countries. However, the knowledge about the usefulness of these spices, the flavor, and the aroma they add to any regular food is spreading across nations, even in western countries. Hence, the rising awareness regarding exotic spices in regions like Europe, and North America will help the market grow from 2021 to 2026.

With such a vast range of cuisines and mixed cultures, the demand for different spices is increasing rapidly in the global market. Studies have shown that there are over 100 different varieties of species are available in the market for various purposes. These spices, other than just adding flavor or aroma, also are used as food preserving agents. Experiments and research have proved that these spices show antimicrobial reactions to the activities of microorganisms that affect the food, its quality, and its shelf life, thus, acting as a preservative and shield from bacterial microorganisms. Besides acting as a preservative agent, these spices also have immense medicinal benefits. Spice like turmeric is known to cure any kind of inflammation, which in most cases is the cause of severe diseases and illnesses. Studies have again proven that if consumed in a small proportion every day, it reduces the risk of inflammation of the brain and the chances of disorders like Alzheimer's or depression. Animal studies have also been conducted using turmeric as the curing treatment, showing that this spice has cancer-curing properties in it. Spice like cinnamon has the properties to regulate low blood sugar levels. It attributes healthy heart properties and hence the rising application of spices in healthcare management will help the global market grow exponentially from 2021 to 2026.

Increasing the tourism industry is a significant factor enabling the people around the world to discover various other ranges of spices and their usage in preparing food. Tourism enables people to explore new cultures and incorporate these spices into their lifestyles and food. Spices being used in food preparation in most houses is also one of the most common driving forces for a constant upward trend in the spice market.

global spices market

Global Spices Market: By Product

Based on product type, the spices market is segmented into pepper, ginger, cinnamon, cumin, turmeric, cardamom, coriander, cloves, and others. Pepper is the majorly used spice all across the world in various cuisines and cultures and hence peppers segment is estimated to be the largest market segment. Pepper has many medicinal benefits like it is good for the heart, it has antioxidant properties, it enhances gut health and bacterial activity in the body system, it also has anti-cancer properties, and most importantly, it is a versatile spice.

Global Spices Market: By Form

Based on form, the market is segmented into powder, whole, chopped/crushed. Powdered spices are most commonly used during food preparation and is estimated to be the fastest growing segment from 2021 to 2026. These powdered spices provide ease in cooking and in working with different measurements and proportions. Instead of storying the whole ground form spices, storing the powdered form of spice is way easier and convenient for many people. This powdered form enables people to store these in refrigerators and containers.

asia pacific spices market

Global Spices Market: By Region

As per the geographical analysis, the global market can be classified into North America (the United States, Canada, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific), Europe (Germany, United Kingdom, Italy, France, Spain, Netherlands, and Rest of Europe), Middle East & Africa (Saudi Arabia, United Arab Emirates, and Rest of the Middle East & Africa) and Central & South America (Brazil, Argentina, and Rest of Central and South America).

Asia Pacific (India, China, Japan, Malaysia, Singapore, and the Rest of Asia Pacific) will have a dominant share in the market from 2021 to 2026. The history and origin of spices and their use in food go back many decades ago, even before the medieval period, in the Asia Pacific region. The countries in the APAC region like India, China, Japan, Korea are some of the largest exporters and traders in the global market. Moreover, they are not just exporters but are the biggest consumers of spices on a daily basis. Spices are a part of their staple food. The south Asian countries have been a believer of the medicinal uses of these spices for many centuries and use them to cure and treat many diseases. These are also a massive part of ayurvedic medicine and science in a country like India. The spices market is also a source of income for many in the countries like Vietnam, Thailand, and India. The spices in these countries are not just used in food preparation but are also used and marketed in many other industries and markets, right from self-care products, to the dental market. The second largest and fastest growing segment is the North American region.

Global Spices Market: By Share & Competitor Analysis

ARIAKE JAPAN CO., LTD., Ajinomoto Co., Inc., Associated British Foods plc, Baria Pepper, DS Group, Everest Spices, Kerry Group, The Bart Ingredients Co. Ltd., Dohler Group, and McCormick & Company, Inc. are key players in the market.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Methodology

1.1    Market Scope & Definitions

1.2    Estimates & Forecast Calculation

1.3    Historical Data Overview and Validation

1.4    Data Sources

1.4.1    Secondary

1.4.2    Primary

Chapter 2   Report Outlook

2.1    Spices Industry Overview, 2020-2026

2.1.1    Industry Overview

2.1.2    Type Overview

2.1.3    Form Overview

2.1.4    Regional Overview

Chapter 3   Spices Market Trends

3.1    Market Segmentation

3.2    Industry Background, 2020-2026

3.3    Market Key Trends

3.3.1    Positive Trends

3.3.1.1    Rising demand for authentic cuisines globally and the rapidly growing trend of adoption of exotic flavors in foods and snacks

3.3.2    Industry Challenges

3.3.2.1    Increasing international prices of exotic spices

3.4    Prospective Growth Scenario

3.4.1    Type Growth Scenario

3.4.2    Form Growth Scenario

3.5    COVID-19 Influence over Industry Growth

3.6    Porter’s Analysis

3.7    PESTEL Analysis

3.8    Value Chain & Supply Chain Analysis

3.9    Regulatory Framework

3.9.1    North America

3.9.2    Europe

3.9.3    APAC

3.9.4    LATAM

3.9.5    MEA

3.10    Form Overview

3.11    Market Share Analysis, 2020

3.11.1    Company Positioning Overview, 2020

Chapter 4   Spices Market, By Type

4.1    Type Outlook

4.2    Pepper

4.2.1    Market Size, By Region, 2020-2026 (USD Million)

4.3    Ginger

4.3.1    Market Size, By Region, 2020-2026 (USD Million)

4.4    Cinnamon

4.4.1    Market Size, By Region, 2020-2026 (USD Million)

4.5    Cumin

4.5.1    Market Size, By Region, 2020-2026 (USD Million)

4.6    Turmeric

4.6.1    Market Size, By Region, 2020-2026 (USD Million)

4.7    Cardamom

4.7.1    Market Size, By Region, 2020-2026 (USD Million)

4.8    Coriander

4.8.1    Market Size, By Region, 2020-2026 (USD Million)

4.9    Cloves

4.9.1    Market Size, By Region, 2020-2026 (USD Million)

4.10    Others

4.10.1    Market Size, By Region, 2020-2026 (USD Million)

Chapter 5   Spices Market, By Form

5.1    Form Outlook

5.2    Powder

5.2.1    Market Size, By Region, 2020-2026 (USD Million)

5.3    Whole

5.3.1    Market Size, By Region, 2020-2026 (USD Million)

5.4    Chopped/Crushed

5.4.1    Market Size, By Region, 2020-2026 (USD Million)

Chapter 6   Spices Market, By Region

6.1    Regional outlook

6.2    North America

6.2.1    Market Size, By Country 2020-2026 (USD Million)

6.2.2    Market Size, By Type, 2020-2026 (USD Million)

6.2.3    Market Size, By Form, 2020-2026 (USD Million)

6.2.4    U.S.

6.2.4.1    Market Size, By Type, 2020-2026 (USD Million)

6.2.4.2    Market Size, By Form, 2020-2026 (USD Million)

6.2.5    Canada

6.2.5.1    Market Size, By Type, 2020-2026 (USD Million)

6.2.5.2    Market Size, By Form, 2020-2026 (USD Million)

6.3    Europe

6.3.1    Market Size, By Country 2020-2026 (USD Million)

6.3.2    Market Size, By Type, 2020-2026 (USD Million)

6.3.3    Market Size, By Form, 2020-2026 (USD Million)

6.3.4    Germany

6.3.4.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.4.2    Market Size, By Form, 2020-2026 (USD Million)

6.3.5    UK

6.3.5.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.5.2    Market Size, By Form, 2020-2026 (USD Million)

6.3.6    France

6.3.6.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.6.2    Market Size, By Form, 2020-2026 (USD Million)

6.3.7    Italy

6.3.7.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.7.2    Market Size, By Form, 2020-2026 (USD Million)

6.3.8    Spain

6.3.8.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.8.2    Market Size, By Form, 2020-2026 (USD Million)

6.3.9    Russia

6.3.9.1    Market Size, By Type, 2020-2026 (USD Million)

6.3.9.2    Market Size, By Form, 2020-2026 (USD Million)

6.4    Asia Pacific

6.4.1    Market Size, By Country 2020-2026 (USD Million)

6.4.2    Market Size, By Type, 2020-2026 (USD Million)

6.4.3    Market Size, By Form, 2020-2026 (USD Million)

6.4.4    China

6.4.4.1    Market Size, By Type, 2020-2026 (USD Million)

6.4.4.2    Market Size, By Form, 2020-2026 (USD Million)

6.4.5    India

6.4.5.1    Market Size, By Type, 2020-2026 (USD Million)

6.4.5.2    Market Size, By Form, 2020-2026 (USD Million)

6.4.6    Japan

6.4.6.1    Market Size, By Type, 2020-2026 (USD Million)

6.4.6.2    Market Size, By Form, 2020-2026 (USD Million)

6.4.7    Australia

6.4.7.1    Market Size, By Type, 2020-2026 (USD Million)

6.4.7.2    Market size, By Form, 2020-2026 (USD Million)

6.4.8    South Korea

6.4.8.1    Market Size, By Type, 2020-2026 (USD Million)

6.4.8.2    Market Size, By Form, 2020-2026 (USD Million)

6.5    Latin America

6.5.1    Market Size, By Country 2020-2026 (USD Million)

6.5.2    Market Size, By Type, 2020-2026 (USD Million)

6.5.3    Market Size, By Form, 2020-2026 (USD Million)

6.5.4    Brazil

6.5.4.1    Market Size, By Type, 2020-2026 (USD Million)

6.5.4.2    Market Size, By Form, 2020-2026 (USD Million)

6.5.5    Mexico

6.5.5.1    Market Size, By Type, 2020-2026 (USD Million)

6.5.5.2    Market Size, By Form, 2020-2026 (USD Million)

6.5.6    Argentina

6.5.6.1    Market Size, By Type, 2020-2026 (USD Million)

6.5.6.2    Market Size, By Form, 2020-2026 (USD Million)

6.6    MEA

6.6.1    Market Size, By Country 2020-2026 (USD Million)

6.6.2    Market Size, By Type, 2020-2026 (USD Million)

6.6.3    Market Size, By Form, 2020-2026 (USD Million)

6.6.4    Saudi Arabia

6.6.4.1    Market Size, By Type, 2020-2026 (USD Million)

6.6.4.2    Market Size, By Form, 2020-2026 (USD Million)

6.6.5    UAE

6.6.5.1    Market Size, By Type, 2020-2026 (USD Million)

6.6.5.2    Market Size, By Form, 2020-2026 (USD Million)

6.6.6    South Africa

6.6.6.1    Market Size, By Type, 2020-2026 (USD Million)

6.6.6.2    Market Size, By Form, 2020-2026 (USD Million)

Chapter 7   Company Landscape

7.1    Competitive Analysis, 2020

7.2    ARIAKE JAPAN CO., LTD.

7.2.1    Company Overview

7.2.2    Financial Analysis

7.2.3    Strategic Positioning

7.2.4    Info Graphic Analysis

7.3    Ajinomoto Co., Inc.

7.3.1    Company Overview

7.3.2    Financial Analysis

7.3.3    Strategic Positioning

7.3.4    Info Graphic Analysis

7.4    Associated British Food

7.4.1    Company Overview

7.4.2    Financial Analysis

7.4.3    Strategic Positioning

7.4.4    Info Graphic Analysis

7.5    Baria Pepper

7.5.1    Company Overview

7.5.2    Financial Analysis

7.5.3    Strategic Positioning

7.5.4    Info Graphic Analysis

7.6    DS Group

7.6.1    Company Overview

7.6.2    Financial Analysis

7.6.3    Strategic Positioning

7.6.4    Info Graphic Analysis

7.7    Everest Spices

7.7.1    Company Overview

7.7.2    Financial Analysis

7.7.3    Strategic Positioning

7.7.4    Info Graphic Analysis

7.8    Kerry Group

7.8.1    Company Overview

7.8.2    Financial Analysis

7.8.3    Strategic Positioning

7.8.4    Info Graphic Analysis

7.9    The Bart Ingredients Co. Ltd.

7.9.1    Company Overview

7.9.2    Financial Analysis

7.9.3    Strategic Positioning

7.9.4    Info Graphic Analysis

7.10    Other Companies

7.10.1    Company Overview

7.10.2    Financial Analysis

7.10.3    Strategic Positioning

7.10.4    Info Graphic Analysis

The Global Spices Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Spices Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global spices market is projected to grow from USD 6.21 billion in 2021 to 14.51 USD billion in 2026 at a CAGR value of 6.5% during the forecast period.
Key and innovative vendors in the spices market include ARIAKE JAPAN CO., LTD., Ajinomoto Co., Inc., Associated British Foods plc, Baria Pepper, DS Group, Everest Spices, Kerry Group, The Bart Ingredients Co. Ltd., Dohler Group, and McCormick & Company, Inc.
Asia Pacific is estimated to hold the highest market share in the spices market.
The Covid-19 impact on the future spices market will be quite significant for the manufacturers. The pandemic is expected to increase the demand for spices and other food items considering the rising demand from the growing world populaiton. However, during the pandemic of 2020, the spices market was analyzed to be affected negatively owing to sudden drop in prices of the range of 8-56%.
The major driving factors for the spices market include the rising demand for authentic cuisines globally, the rapidly growing trend of adoption of exotic flavors in foods and snacks, rising awareness regarding exotic spices in regions like Europe, and North America, and the rising application of spices in healthcare management.

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