Seasonings and Spices Market Will Reach USD 16.6 Billion Globally by 2019: Transparency Market Research
Seasonings and Spices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
Albany, United States – July 20, 2015 /MarketersMedia/ —
Transparency Market Research, a U.S.-based market intelligence company, states in its new research report on the global market for seasonings and spices that the market will observe growth at a decent pace between 2013 and 2019. The market, which had a net value of US$12.7 billion in 2012, will grow at a 4.8% CAGR and reach US$16.6 billion by 2019. The report is titled “Seasonings and Spices Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”.
The report examines the global market for seasonings and spices in great detail by analyzing the key elements of the market and presenting a comprehensive picture of the competitive landscape. The report also highlights the fact that the global market for seasonings and spices is a market that survived rather profitably during the recent times of a global economic downturn. The simple fact that consumers prefer to buy ingredients and create in-house recipes than eat out during financial crunches has helped the market survive the tough times. The conditions do reverse when the economy is doing well, but seasonings and spices are such an integral part of every cuisine that these products hardly ever run out of demand.
Browse Market Research Report: http://www.transparencymarketresearch.com/seasoning-spices-market.html
The report categorizes the market based on two key criteria – types of products and key regional markets. Based on the criterion of product type, the market is segmented into four broad categories, namely salt and salt substitutes, herbs, pepper, and spices. Of these, the segments of salt and salt substitutes and pepper dominate the overall market, holding nearly 50% of the market collectively.
The report states that the market for seasonings and spices is flourishing in regions such as Asia Pacific, North America, Europe, parts of Latin America, and the Rest of the World. While Asia Pacific is the traditional consumer of seasonings and spices, these products, especially various intense spices, have only recently started becoming popular in countries such as the U.S., U.K., and Spain. The report states that Asia Pacific is the most lucrative regional market for seasonings and spices. The market observed a demand rise from 409.4 million kg in 2008 to nearly 511 million kg for a variety of seasonings and spices in 2012.
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The market for seasonings and spices in Europe is expected to rise to US$5,723.3 million by 2019. Traditionally, India has been one of the most extensive producers and consumers of seasonings and spices. Lately, changing food choices of consumers, rising popularity of foreign cuisines such as Italian and French, heightened health awareness amongst the global population, and the use of certain spices and herbs for medicinal purposes have led to increased demand for a variety of seasonings and spices across the globe.
As of 2012, Asia Pacific accounted for nearly 66% of the overall volume of seasonings and spices consumed across the globe. Its share is expected to observe a rise to nearly 69% by 2010. Despite this, Europe stood as the leading market with a 35% share in the market in 2012, in terms of value. In the same year, Asia Pacific held a 31% share of the global market by value.
Some of the key businesses profiled in the report are Nestle, Catch, Everest Spices, MDH Spices, Kraft Foods, Knorr, and McCormick & Company.
Key Segments of the Global Seasonings and Spices Market:
Seasonings and spices: Segmentation by product
– Pepper
– Salt and salt substitutes,
– Spices,
– Herbs
Major geographies analyzed under this research report are:
– Europe
– North America
– Asia-Pacific
– Rest of the World
About Us
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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Name: Mr. Atil
Email: sales@transparencymarketresearch.com
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