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Persistence Market Research Released New Market Report Global Seasonings Spices Market Increasing income levels resulting in increasing expenditure on food products of Asian
Consumers (2019). The report gives a detailed understanding of this market, the factors governing it, its
strengths, weaknesses, opportunities, and threats. With the help of SWOT and Porters five forces
analyses, the report answers questions pertaining to the growth of this market in the coming years.
According to the market research report, the global seasonings and spices market was valued at US$12.5
bn in 2013 and is estimated to reach US$16.6 bn in 2019, growing at a CAGR of 4.80% from 2014 to
2019.
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Seasonings and spices have always been an important part of dietary intake for reasons that go beyond
the aroma they impart to food. They add to the taste, color, and to the nutritional value of food, thereby
enhancing the health of consumers. The indispensable nature of seasoning and spices has made their
market recession-proof. Furthermore, as consumers prefer to cook at home over spending at restaurants
or on ready-to-cook meals, especially in times when the economy seems unstable, they directly create a
support system for the growth of the global seasonings and spices market.
In recent years, the global seasonings and spice market has witnessed an upward demand trend due to
the increasing income levels, which are encouraging consumers to spend unflinchingly on food products.
The positive sentiment in the seasonings and spices market is also due to the changing food patterns of
Asian consumers due to changing demographics. India is among the biggest producers of seasonings
and spices in the world. However, the tumultuous nature of the economy along with poor logistical support
are big restraints for the seasoning and spice market in India. The markets growth is also getting
The proliferation of seasonings and spices is also due to their use in several types of medicines. A crucial
growth driver worth noting is the increasing demand for French and Italian cuisine in Asian countries that
is leading to a want for exotic seasonings and spices.
The global seasonings and spices market has been segmented on the basis of products and geography.
The products in this market are salt and salt substitutes, herbs, pepper, and spices. Geographically, the
global seasonings and spice market is divided into North America, Europe, Asia Pacific, and Rest of the
World.
The important players profiled in the global seasonings and spices market study are Knorr, Everest
Spices, McCormick & Company, Ajinomoto, Nestle, Catch, MDH Spices, and Kraft Foods. Out of these,
McCormick holds the leading position in the market thanks to a wide range of products. The report studies
the companies financial status, research and development activities, investment plans, and outlook for
the coming years.
Market History:
Increasing income levels resulting in increasing expenditure on food products, changing food habits of
Asian consumers and changing demographics are the major growth drivers for the global seasonings and
spices market. Asian countries such as India are the major producers of seasonings and spices.
Uncertain economic conditions coupled with inefficient logistics act as major growth restraints for
seasoning and spice producing countries, such as India. Government policies resulting in rejection of
imported spices also hampers the growth in international markets. Increasing demand from the organic
segment offers great opportunity for the market.
Seasonings and spices form an integral part of any cuisine as it is responsible for developing the taste
and aroma associated with the cuisine. The seasonings and spices market is considered to be one of the
most recession-proof markets since during uncertain economic conditions, consumers prefer in-house
preparation and consumption rather than opting for the expensive choice of eating out or having readymeals. However, when the economy is in good shape the situation is reverse. Major growth drivers for the
industry are increasing demand for foreign cuisines, such as Italian and French and changing consumer
food habits in Asian countries. Use of certain spices and herbs in medicinal fields has also resulted in
increased demand for seasonings and spices. Inefficient logistics and uncertain climatic conditions in the
spices producing countries are the major growth challenges for the industry.
Seasoning and Spices market is bifurcated into four major product type salt and salt substitute, pepper,
herbs and spices. The global market for seasonings and spices in value term is expected to grow from
USD 12,530.5 million in 2013 to USD 16,628.6 million in 2019 growing at a CAGR of 4.8%. Salt and salt
substitutes market (largest segment in 2012) increased by 4.3% CAGR during 2008-2012. In terms of
volume the market grew from 634.6 kg million in 2008 to 772.2 kg million in 2012. Salt and salt substitutes
market (largest segment in 2012) is forecasted to increase by 4.3% CAGR during 2013-2019 to reach
369.2 million kg in 2019.
The global seasonings and spices market was highly fragmented, with top six companies holding only
15% market share in 2012. McCormick and Unilever are some of the major companies with global
operations. While McCormick leads the market, Unilever accounts for only 1.7% share, mainly due to its
lower number of products compared to McCormick. S&B foods operate only in Japan and held about 40%
share in the Japanese seasonings and spices market. Everest Spices operates mostly in India but
Table of Content
Chapter 1 Preface 12
1.1 Report Description 12
1.2 Scope and definition 12
1.2.1 Product segments covered in the report 12
1.2.2 Regions covered in the report 12
1.3 Research methodology 12
Chapter 2 Market Synopsis 14
Chapter 3 Porter Five Forces Analysis 16
3.1 Bargaining power of suppliers 16
3.2 Bargaining power of buyers 17
3.3 Threat of new entrants 17
3.4 Threat of substitutes 17
3.5 Intensity of rivalry 17
Chapter 4 Industry Overview 19
4.1 Introduction 19
4.2 Market Drivers 19
4.2.1 Globalization and changing demographics is expected to drive seasonings and spices demand
19
4.2.2 Consumers rising income levels expected to provide better growth prospects for the industry 20
4.2.3 Consumers changing food habits in Asian countries expected to escalate market growth 21
4.2.4 Medicinal benefits of spices is expected to drive the market 21
4.3 Market Restraints 22
4.3.1 Government policies resulting in rejection of imported spices may hamper market growth 22
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