Latest News- Spices Market: Powder is expected to lead the Product Type segment during 2025-2029

The Spices Market is being driven by Growing awareness of medical benefits of spices

The Spices Market is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 4014.1 million. The Spices Market has experienced notable corporate activity, with several major players engaging in strategic acquisitions to bolster their growth. For instance, in January 2024, Tata Consumer Products announced the acquisition of up to 100% stake in Organic India for approximately USD228 million. This acquisition, which includes Organic India's offerings in tea, herbs, and spices, aligns with Tata's strategy to expand its presence in the wellness and premiumization segments. In a similar move, Twelve31 Spice Ventures acquired Frisco Spices in May 2023, with plans to launch Frisco Brands Inc. This acquisition aims to enhance Twelve31's offerings and expand its customer base. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Powder
  • Whole
  • Crushed or chopped
• End-user
  • Household
  • Food service
  • Industrial
• Distribution Channel
  • Retail
  • Online retail
  • Direct sales
• Application
  • Culinary
  • Food Processing
  • Pharmaceuticals
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing awareness of medical benefits of spices
• Rising popularity of ethnic cuisines
• Growing demand for ready-to-use spice mixes

However, the market also witnesses some limitations, which are as follows:

• Product recalls
• Uncertain climatic conditions in various spice-producing countries
• Threat of contamination

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Market Scope in Spices Market Research Report

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Research Analysis Overview

The Spices Market encompasses various aspects, including the study of spice active compounds and their essential oils, the production of ground spice blends and oleoresins, characterization and assessment of oleoresin quality, sourcing and ingredient identification of spices, implementation of food processing technology and preservation techniques. Botanical identification, phytochemical analysis, sensory perception, flavor chemistry, and aroma analysis methods are crucial in understanding spices' unique properties. Adulterants, microbial identification, and food safety regulations ensure product safety and authenticity. Supply chain traceability, packaging design, storage stability, and quality control metrics optimize efficiency and reduce costs. Harvest and processing techniques, yield optimization, and sustainable practices further enhance the market's growth.

Market Research Overview

The Spice Market encompasses vendors engaged in the cultivation, processing, and production of aromatic spices and herbs. Techniques such as organic farming, shade-drying, and sun-drying are employed for spice cultivation to maintain their natural flavors and aromas. Herbs undergo various processing methods like steam distillation, solvent extraction, and cold pressing to extract essential oils and aroma compounds. The global packaged foods and meats market, valued by revenue, encompasses food processing entities, excluding equipment manufacturers and packaged beverage producers. Market expansion is propelled by the health benefits linked to minimally processed foods, including spices and herbs, which are rich in essential nutrients.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/