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.
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.
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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.
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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.
