Dried Spices Market

Dried Spices Market Outlook (2023-2033)

The global dried spices market is anticipated to progress at a CAGR of 4.7% from 2023 to 2033. The market is set to reach a valuation of US$ 5.8 billion in 2023 and climb to US$ 9.2 billion by 2033 - end.

Demand for pepper is predicted to rise at a CAGR of 6% through 2033. Pepper is extensively consumed, not only for the taste it imparts but also because of its nature as an essential spice.

Spices that have been dried and powdered are referred to as dried spices. They are employed in cooking to enhance food flavor. The growing awareness among consumers of the health advantages of various spices is driving factor growth. Because individuals are now looking for simple ways to give their meals more flavor and nutrition, their consumption has increased as a result.

The rising global trend of consumers cooking at home is another element boosting the demand for dried spices. Individuals are increasingly turning to dried spices as a method to flavor and add nutrition to their food without spending a lot of time or money on it as interest in making healthy meals at home grows.

Rising demand for convenience food with new flavors is expected to continue due to the fast-paced routines of consumers. Foods that can be quickly and effectively prepared or cooked with little effort are referred to as convenience foods. The demand for seasonings and spices is being driven by the rise in popularity of prepared food products such as meals and snacks.

During the COVID-19 pandemic, consumption of different grades of dried herbs & spices increased manifold. Consumption of spices, including garlic, giloy, and basil increased significantly, as they are considered potential immunity boosters. Besides, stay-at-home directives prompted people to frequent public eateries on a lesser scale, compelling them to prepare exotic cuisines at home, leading to increased dried spices uptake.

In addition, increasing inclination towards ready-to-use spice mixtures has also compelled food retailers to provide aromatic tablets and mixed spices. This, in turn, has propelled the use of spices in various dishes. Extensive applications in preparing cooking powder and various kinds of sauces & dressings are expected to remain prominent.

Dried spices have a positive perception among consumers, as these are thought to be beneficial to health and well-being. In Asia, dried herbs & spices have been used for centuries in household cooking owing to their benefits in flavoring as well as their medicinal properties.

Their popularity has also surged in Europe and North America, with many households and restaurants adopting dried spices in cooking. In certain countries, dried herbs & spices are specifically deployed for preparing delectable sauces & dressings.

Food processors and restaurants have always been reliant on synthetic compounds to flavor their food products. Inducing particular aromas, flavors, and colors in foodstuffs surges their demand among customers, and several times, hotels and restaurants utilize these artificial aromas and flavors to improve food products.

Preference for whole spices and fresh herbs has especially inclined in the past few years, given the increased emphasis on consuming clean-label food products. However, as consumer consciousness of organic products has surged, food producers have been enforced to eliminate these unsafe compounds and incorporate organic and natural compounds. An increase in the demand for natural flavoring is an opportunity that dried spice manufacturers can leverage to their advantage.

Many spices, including clove, oregano, thyme, cumin, and cinnamon act as effective antibacterial and antifungal agents. They have proven highly effective in combating food spoilage induced by bacteria.

Report Attributes	Details
Dried Spices Market Size (2023)	US$ 5.8 Billion
Projected Market Value (2033)	US$ 9.2 Billion
Global Market Growth Rate (2023-2033)	4.7% CAGR
Market Share of Organic Dried Spices	40%
Key Companies Profiled	Firmenich SA Ajinomoto Co., Inc. Robertet SA Kerry Group Plc. Synthite Industries Ltd. McCormick & Company, Inc. Takasago International Corp. Olam International Limited Sensient Technologies Corporation

What is Boosting the Consumption of Dried Spices?

“Rapid Expansion of Hospitality Industry Spurring Demand for Dried Spices”

Growth of the hospitality, food mall, and tourism sectors is likely to be significant with the development of various tourist destinations. Expansion of several food malls, restaurants & hotels is forecasted to impact the growth of the global dried spices market positively. Many hoteliers are focusing on capitalizing on the increasing inclination for novel food experiences to gain a successful competitive edge.

Moreover, the growing preference of guests and consumers for spicy cuisines has made the hotel industry offer many delicacies. In addition, as consumers gradually become price-conscious, food services are concentrating on evolving a wide range of alternatives to the offered food products. As natural seasonings and flavor ingredients remain central to taste and flavor enhancement, producers, processors, and manufacturers are increasingly using pepper and salt to improve the taste of food products.

Moreover, the demand for a wide range of flavor-enhancing ingredients from the food industry is estimated to boost the sales of dried herbs & spices. Some of the popular blends of dried spices such as garam masala, taco seasoning, and cajun seasoning are used to improve the taste of foodstuff, globally.

What Can Restrict Demand for Dried Spices?

“Unreliable Weather Conditions and Logistic Issues”

Inconsistent weather patterns and inefficient logistics are just a couple of the elements that will restrain the expansion of the global market for dried spices during the projection period.

How are Emerging Companies Making a Mark in This Space?

“Aspiring Market Players Concentrating on Introduction of Organic Spices”

New entrants are focused on enriching their portfolios with organic, local, fresh, and healthy products. Organic spices taste better, are healthier, and don't contain any toxic chemicals. For customers who appreciate items made with organic ingredients, they are preferable. For this reason, organic spices are used in the products of food and spice manufacturers. Growing spices organically reduces greenhouse gas emissions, lowering the overall carbon impact.

• Various indigenous kinds of organic spices are sourced by the German start-up SoulSpice. The start-up increases biodiversity by growing spices using conventional mixed cultures. The firm compensates the spice growers fairly and directly in addition to supporting neighborhood social projects to ensure equity in promoting the market.

Which Regional Market is Lucrative for Manufacturers of Dried Spices?

“Increasing Cooked Food Consumption Driving Market Growth in Asia Pacific”

Asia Pacific dominates the global market with 45% share. Spices are an integral part of cooking, and the demand for dried spices has steadily grown in the region.

Several countries in Asia Pacific are projected to bolster their agricultural infrastructure, which is dependent on the monsoon for agricultural produce.

Moreover, spices are widely used in most dishes. As spices play a vital part in Ayurveda and everyday food consumption, the demand for the same has been on a steady rise in the region.

Country-wise Insights

How is Demand for Dried Spices Expected to Shape Up in the U.S.?

“Growing Demand for Organic Food Products in the U.S.”

Several companies are launching new ranges of dried spices that can improve the quality of home-cooked food. In addition to taste, consumers in the U.S. are also aware of the importance of the nutritional value of food.

There has been a surge in the demand for dried spices that enhances the overall nutritional value of food products. The overall trend regarding organic food items is also influencing the global market in the U.S. Moreover, manufacturers are broadening their range of offerings to serve the evolving needs of end users.

Furthermore, the market in the U.S. is driven by steady demand from households and restaurants/hotels.

What Makes South Korea an Attractive Market for Dried Spices?

“Increased Usage of Various Dried Spices in Food & Beverages”

High product demand due to improving standards of living, a growing population, and shifting dietary preferences are the factors boosting sales of dried spices in South Korea.

Market growth is attributed to rapid urbanization, increased usage of various dried spices in food and beverages, and favorable government rules regarding trade policies.

Which European Country is Likely to Be a Prominent Marketplace?

“Influx of Myriad Cuisines from Different Cultures Spearheading Uptake of Dried Spices across Germany”

The market in Germany has been influenced by waves of immigrants, bringing their special foods and ingredients to the continent. This is predicted to create opportunities for dried spice manufacturers in the country. Evolutions in taste and preferences are driving the demand for dried spices.

Many consumers in the country are looking to experiment with new cuisines, and along with the demand for clean label food ingredients, dried spice providers are also likely to benefit due to this.

Why is the Market for Dried Spices So Prominent in Japan?

“Increase in Marketing & Promotional Efforts across Japan”

The emergence of various domestic brands of spices and herbs and an increase in marketing and promotional efforts are driving market value in Japan.

The use of spices and herbs in Japan has increased in the last decade or so, as many restaurants serving ethnic food have opened up across the country. This has revved up the demand for dried spices in the country and created a new consumer base that is experimenting with cooking.

Category-wise Insights

Why are Organic Dried Spices Surging in Popularity?

“Growing Awareness of Health-related Issues Driving Sales of Organic Dried Spices”

By nature, the market is segmented into conventional dried spices and organic dried spices. At present, organic dried spices account for 40% share of the global market.

Rising concern for well-being among consumers has directed producers and manufacturers to progressively choose organic dried spice ingredients, globally. Growing awareness concerning several health-related issues aids the consumption of organic products, which will positively impact the growth of dried spices.

Which Sales Channel Accounts for the Highest Sales of Dried Spices?

“Supermarkets/Hypermarkets Gaining Traction Due to Wide Availability of Dried Spices Packed in Different Forms”

The market is classified into supermarkets/hypermarkets, convenience stores, speciality stores, department stores, online stores, and others based on the sales channel.

Urbanization has led to the opening of various supermarkets/hypermarkets in developed nations. In addition, companies are offering various offers on dried spices. Also, dried spices packed in different forms have made it easier for people to buy dried spices from these stores.

In addition, globalization is offering different varieties of spices on the same shelf for consumers. As countries continue to import and export spices, the convenience of buying dried spices has increased.

Thus, supermarkets/hypermarkets are expected to possess more than 40% market share for dried spices over the forecast period.

Competitive Landscape

Key players in the dried spices market are reliant on forging collaborative agreements and acquisition of existing small, medium and large-scale dried spice manufacturers as some of their primary expansion strategies. Other key approaches include introducing new flavors and combinations of various spices.

Top dried spice producers are attempting to shift their business models toward small-sized packaging to drive sales through affordability and convenience.

For instance :

• In September 2021, McCormick & Company, Inc. and Heifer International announced a partnership that would support sustainable incomes for Spice Farmers in Guatemala. Through this partnership, companies are focusing on investing in cardamom and allspice.

Key Segments Covered in Dried Spices Industry Research

• By Product :

  • Pepper
  • Paprika
  • Cardamom
  • Cloves
  • Turmeric
  • Cumin
  • Nutmeg
  • Ginger
  • Cinnamon
  • Others

• By Form :

  • Powdered Dried Spices
  • Granule Dried Spices
  • Whole Dried Spices

• By Nature :

  • Conventional Dried Spices
  • Organic Dried Spices

• By Sales Channel :

  • Supermarkets/Hypermarkets
  • Convenience Stores
  • Speciality Stores
  • Department Stores
  • Online Stores
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa