Spices Market are strongly penetrating the Global Market

Spices Market are strongly penetrating the Global Market .

Persone Email, Sanjay Matthews, Market Players, Ginger
Luoghi Italia, Europa, Giappone, Cina, America del Sud, America del Nord, Canada, India, Germania, Francia, Singapore, Stati Uniti d'America, Regno Unito, Apac, Wé, Möre, Our
Organizzazioni Cutting Edge Technologies, Synthite Industries Ltd, Sensient Technologies Corporation, Ariake Japan Company Ltd, Olam International, Dohler Group, FDA
Argomenti commercio, economia, impresa, software

03/feb/2016 06.56.36 IndustryARc Contatta l'autore

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The List of Spices, being fundamentally used for coloring, flavoring, garnishing or preserving food items. They could be either dried seeds or other natural products like roots, tree barks, vegetable/fruit substances/remains and more. Herbs are also products with similar purposes but the difference being, they are generally green leaves.

Spices are immensely used in Chicken food items and with the vast regional production of Chicken across the world; the production rate of Chicken Spices has eventually grown and is going to continue to grow in the future.

There are a number of other reasons for which the Spices Market is in demand be it the medicinal properties or the applications in cosmetics including perfume manufacturing or also utilized due to religious rituals. The antimicrobial ingredients existing in many spices also add to the advantages of the spices list.

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MARKET TRENDS AND MARKET GROWTH:

2015-2020 is a hopeful year for the Global Spices Market with an expected forecast of 5.4% CAGR. The rising investment by different international companies in North America is anticipated to boost the Spice Market during the observational period.

Despite the few stringent government regulations across different countries such as Canada, U.K., France, Italy and the U.S. among others, the Spices List has been growing with time and supported by the investments made by potential players of the Spices and Herbs Market.

On the other hand, increased safety awareness due to different organizations such as FDA setting safety standards to determine whether a spice is safe enough for its intended use in order to maintain consumer safety is the strength to the Spices and Herbs market.

Major Market Driving Factors:

  • Growth of the Spices Market is directly proportional to the growth in the processed food industry
  • Rise in consumption of bakery products, confectionery products, and ready-to-eat & fried food in the developed economies is driving the market for spices
  • Global market also propelled by the growing demand for convenience foods
  • Increased use of spices as natural preservatives for meat and poultry
  • In addition, rising demand for health and wellness food is the key factor to improve the demand for spice globally.

Geographical Brief of the Market:

The market for spices in the Asia-Pacific region is emerging. Development in economy of emerging Asian countries which would increase the demand of convenience food, confectionery and snacks is anticipated to provide growth opportunity to the spice market. The North American region accounted for the largest share for spices in 2013. North America is the most attractive market for spice market globally followed by Europe, Asia Pacific and RoW. In terms of revenue, North America is anticipated to witness high growth during the forecast period of 2015 – 2020 due to medicinal benefits of spices. Europe is the second largest market for spice followed by Asia Pacific and Rest of the World. In Asia Pacific, China holds the leading position followed by India.

REPORT SCOPE: Market Segmentation:

The List of Spices is segmented into 3 broad types based on certain factors as mentioned below:

  1. By Type: Coriander, Cardamom, Ginger, Cinnamon, Pepper, Nutmeg, Clove, Turmeric, Cumin and Others.
  2. By Application: Frozen Products, Bakery and Confectionary Products, Sauces & Dressings, Beverages and Others Applications like Meat & Poultry Products and Packaged Food.
  3. By Geography: North America, APAC, Europe, South America and ROW.

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Key Market Players:

Few notable players of the Spices Market which IndustryARC experts have studied and analyzed are:

  • Kitchen Xpress Overseas Limited (India)
  • Dohler Group (Germany)
  • Olam International (Singapore)
  • Ariake Japan Company Ltd. (Japan)
  • Sensient Technologies Corporation (U.S.)
  • Synthite Industries Ltd (India) 
  • Associated British Foods PLC (U.K.)

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About IndustryARC:

IndustryARC is a research and consulting firm that publishes more than 500 reports annually in various industries, such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, Life sciences & Healthcare.

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