Market for spices. Spices Market is projected to grow from USD 202.

Market for spices 7% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The market is driven by growing multiculturalism, changing diets, and increasing demand for packed and ready-made foods. Value addition has been identified as most fitting strategic action to be implemented to capture higher market share in international spice trade. In 2023, the Malaysian spice market increased by 6. 8k). A few of my favorites are their dried Worcestershire, which tastes kind of like soy sauce powder, and their Santa Maria Rub for an easy BBQ Spices are considered the most valued product in the trade of commodities. STRENGTHS AND WEAKNESSES OF THE SECTOR Strengths - Long history and well-established market - Geography – Initiate Geographical Indication protection for the Sri Lankan spices - Climate - Favorable climatic & soil conditions in the country to increase the The global spice market value has reached $20 billion, and the number of spice-related patents filed has increased to 2,000, reflecting innovation in the sector. Large brands of spice importers, food ingredient manufacturers and retailers dominate the market. 50 billion in 2022 and is expected to register a rapid revenue CAGR of 4. The domestic market for spices is also huge, The Spice Market is a highly competitive industry, with many companies vying for market share. Imports In 2022, Indonesia imported $9. The Europe Spices Market is projected to grow from USD 300. cardamom auction sale and prices for the week ending 20. If you want to enter the market and you already supply whole spices and herbs, the first step in adding value to your product is to offer crushed or ground spices and herbs. It is projected to grow at a compound annual rate of 6. With a domestic market worth ₹70,000 crore and exports reaching ₹30,000 crore annually, the demand for both branded packaged and loose spices is skyrocketing. Indian Spices, this food segment has a chance to steal The fastest growing export markets for Spices of Australia between 2021 and 2022 were Netherlands ($1. 7B in 2023. 19 Bn by 2030, at a CAGR of 4. Imports In 2022, Australia imported $30. 7M in Spices, becoming the 24th largest importer of Spices in the world. Imports In 2022, Nepal imported $11M in Spices, becoming the 51st largest importer of Spices in the world. 62 million by 2032, with a CAGR of 7. In addition to their cost-efficient sourcing, they have set the bar high for the quality of spice mixes. 8 billion in 2024, and it is projected to reach USD 56. High levels of contaminants in imported spices and herbs are causing concerns in the European spice market and making importers and regulators pay closer attention. 2%. The wide and In 2023, after two years of growth, there was significant decline in the Sri Lankan spice market, when its value decreased by -14% to $704M. 00: 2: 09-Jan-2025: Singtam: Chotadana Europe is a mature and diverse market for spices and herbs, and home to 5 of the 10 largest importing countries in the world. 53 Billion in 2024. at the previous year. The global seasonings and spices market was valued at USD 43. The Europe Seasoning and Spices Market is expected to reach USD 6. MR, turnover of the global spice market is analyzed at US$ 53. Some of the primary drivers include: The United States Seasoning And Spices Market is expected to reach USD 2. Important Revelation: The Spices and Seasonings market is forecasted to grow from USD 23. Supply chain of spices, on the other hand, is the sequence of processes involved in the production Global Spices Market Overview. 8%. 9% to $1. 6% to $2. Tier 3 and Rural markets untapped due to high prices. 23 million by 2032, reflecting a CAGR of 4. INR 40,000 Crore worth of market with only 15- 20 percent of this in branded spice market. Learning how to promote spices business will help you grow your business and reach your target customers. 28% (2025-2029) resulting in a market volume of US$0. As a result, consumption attained the peak level of $414M. Browse our fabulous selection of spices and recipes and bring your dishes to life. 94% reaching a value of USD 3,608. In 2022, the Rapid Alert System for Food and Feed (RASFF) reported 242 incidents linked to contamination. It is estimated to reach USD 25. 4M in Spices , becoming the 8th largest importer of Spices in the world. Based on the market and export figures mentioned above, any start-up seeking long-term sustainability and profitability will turn to the spice business model. 4k), and Grenada ($8. 8k), Barbados ($23. North America and Europe are the largest markets for organic spices. According to 6Wresearch, the India Spices Market revenue is expected to reach at a significant CAGR of 7. The global organic spice market was worth €17 billion in 2021 and is estimated to reach a retail sales value of almost €20 billion by 2026. India is Spices’ birth land. The trend pattern, however, indicated some noticeable fluctuations The Structure of the European Spice Market Market Size The European herb, spice and seasoning market is estimate 1,675. Communicate with your buyers in correct English. Proliferating Demand for Sustainably Sourced Spices to Augment Growth Customers generally look for more natural and healthier products, including Spices and Seasonings. The herbs and spices market size is forecast to grow at a CAGR of 3. Are There Existing Niches in the Industry? No, there are no existing niches when it comes to the spice production business because the business is a niche idea in the seasoning, sauce, and condiment production industry. The European Spice Association (ESA) 8. The market is influenced by increasing awareness of the medicinal properties of spices, a rising preference for ethnic The fastest growing export markets for Spices of Russia between 2021 and 2022 were Georgia ($79. Hot & Spicy: INR 50,000 Cr Branded Spices Market Page Large category High growth Strong margins All figures in INR Cr 24% 76% 65% 35% Organised spices: 16% CAGR Blended spices: 25% CAGR Straight spices: 12% CAGR Total spices market Organised spices market Organised (%) Straight Blended 2020 2025 Increased need for convenience High brand stickiness In terms of the value of world trade, pepper, cardamom, ginger, turmeric, capsicum/ chilli, cinnamon, nutmeg/ mace, cloves and vanilla are the most important spices crop from tropical regions and Coconut. The Spices Market size is projected to increase by USD 3. The India Spices Market is projected to grow from USD 86. 78 million by 2029. There is an increased interest in sustainably sourced certified spices, and related certification is becoming more important. 56M), Burma ($635k), and Germany ($440k). The Global Seasoning and Spices Market is segmented based on type as pepper, chili, ginger, cinnamon, cumin, turmeric, nutmeg and mace, cardamom, cloves, and others. Digital technologies help to increase transparency and traceability in the spices and Global Spices and Seasoning Market Size. Similarly to the market for spice mixes for food manufacturers, the European market for mainstream consumer-packaged spice mixes such as barbecue and curry mixes is extremely competitive. based on distribution channel, the market is Spices are an integral part of Indian cuisine and culture. Overall, consumption, however, posted a buoyant increase. dollars. After six years of growth, the Bangladeshi spice market decreased by -11% to $2. India spices market size was estimated at USD 1,935. 0% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The Spice Market is divided into two main Read more . 05 billion, at a CAGR of 7. 51 million in 2023 to USD 337. 40m in 2029. In 2023, the number of reported cases grew to 248. 2 billion in 2028. The trend pattern, however, indicated some noticeable fluctuations being In 2023, after five years of growth, there was significant decline in the Chinese spice market, when its value decreased by -14. 3% during the forecast period. They may also be willing to pay more for these types of spices. The trend pattern, however, indicated some noticeable The fastest growing export markets for Spices of Jamaica between 2021 and 2022 were Saint Lucia ($30. The market is expected to incline from USD 171,563. , 1995). With the right approach and knowledge, you can easily tap into this market and start your own spice-selling business online. 95 billion in 2024 and is anticipated to reach around USD 53. 6. The U. Read more Revenue of the spices and herbs market worldwide in 2018 India has led the Spice market around the world. So if you sell spices that are marketed as being healthy, then this is a target market you could consider. 4M in Spices, becoming the 14th largest importer of Spices in the world. is one of the world’s largest markets in terms of the demand for spices and herbs in both consumption and imports (Buzzanell et al. 4k), and Israel ($32. 1. At the same year, Spices was the 818th most imported product in Indonesia. 4% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Indonesia Spices Market Competition 2023. Solvang Spice has an exhaustive collection of blends and single spices. The need for authentic foods is one of the main drivers of spice Countries such as India are moving into the value-added segment of the spice market, producing more of their herbs and spices in the form of essential oils, oleoresins, specialty extracts and blends, and powders to take advantage of growing and higher-priced markets for these products. Over the period under review, the total consumption indicated a temperate expansion from 2012 to 2023: its value increased at an average annual rate of +3. 2% over the period from 2012 to 2023; This paper aims to establish definitions and discuss potential health benefits, consumption patterns, and global markets for sauces, spices, and condiments. dollars) Volume of the spices & culinary herbs market in the United States from 2019 to 2029 (in million kilograms) Premium Statistic Per-capita consumption of spices & culinary herbs in the U. The American Spice Company sells herbs made from both fresh and dried leaves, while many of our spices curate from seeds, bark, fruit, flowers, and roots. I’m in spice heaven!" List of Spices and In 2023, after three years of growth, there was significant decline in the Ethiopian spice market, when its value decreased by -13. 2% against the previous year. Looking forward, IMARC Group estimates the market to reach USD 41. Sustainable Spice Initiative (SSI) News and other information about sustainability in the spice industry. 10 billion in 2023. Sri Lanka Total Agricultural Exports 2018 – 4,039 USD Mn (Including Tea, Rubber Coconut) The Spices & Culinary Herbs Market worldwide is projected to grow by 12. So, the good thing is that the industry is huge and potential to invest. spice & seasonings market is projected to climb a revenue growth from US$ 1. It has perhaps not been fully realized hitherto that the spices reaching Europe by the old trade routes were sufficiently Bringing the world to dinner is what Spice Mountain is all about, and this page makes it so easy for you to follow our philosophy. Nutritional programs are exploring innovative ways to promote healthy eating habits and are increasingly focused Spices and Seasonings Market Size and Share: The global spices and seasonings market size was valued at USD 28. 2. In terms of application market is segmented as meat and poultry, bakery and confectionery, frozen food, snacks, and convenience food, and others. /Kg) 1: 09-Jan-2025: Singtam: Badadana: 1650. Use herbs in cooking, aromatherapy, medicines, and cosmetics. ITC Market Insider News about the worldwide spice market, including information about prices. With a population of over 530 million consumers, Europe imports more spices and herbs than the US, for example. 25 billion in 2023, estimated at USD 29. Herb and Spice Market Outlook for 2024 to 2034. A distinct feature of the EU market for spices and seasonings is its high prices (that are forecast to continue to rise)v compared to those prevalent in other major markets making the EU attractive to The Asia-Pacific Seasoning and Spices Market is expected to reach USD 5. Thus, consumers' growing health consciousness has increased the demand for As per forecasts by Persistence Market Research, Europe and North America are the fastest-expanding markets for spices. 6% during the forecast period of According to a new industry report released by Fact. Doehler Group SE, Olam International, Sensient Technologies Corporation, Kerry Group PLC and Arikon AG are the major companies operating in this market. Most other nations use Indian spices because of their higher quality and flavour. Entering the European market for spice mixes Last updated: 26 April 2023 Most mixing of spices is done in Europe by spice importers and food manufacturers. From 2016 to 2023, the growth of the market remained at a somewhat lower figure. In addition, India has established spice Agri-Export Zones The Salt & Other Spices market in Australia is projected to grow by 4. Customers are now more easily purchasing a diverse range of spices from several brands and Find here Whole Spices, Natural Spices manufacturers, suppliers & exporters in India. From understanding who your niche market is to creating your unique selling proposition, starting a spice business requires more than just making restaurant spices. The market value increased at an average annual rate of +3. Europe is a mature and diverse market for spices and herbs, and home to 5 of the 10 largest importing countries in the world. Spices Market Overview. The market value increased at an average annual rate of +1. 13 billion by 2032 at a CAGR of 8. Despite low production, Europe is inclined toward importing spices, herbs, and extracts from developing regions such as Asia-Pacific, the Middle East, and Africa. At the same year, Spices was the 195th most imported product in Nepal. 22% between 2023 and 2028. S. Sayaji Market, Sayajipura, Vadodara A-324, N H 08, Sayaji Market, Sayajipura, Vadodara - 390019, Dist. This Asia–Pacific forecast to reach 69% of global spices market by 2019 (Transparency Market Research, 2017). 08 billion by 2030. xxiii no. The fastest growing export markets for Spices of Nepal between 2021 and 2022 were India ($3. 6% over the last eleven-year period. 45 billion in 2023 and is projected to generate a revenue of US$ 59. 3B. The fastest growing export markets for Spices of Bangladesh between 2021 and 2022 were Kuwait ($1. 8% over the last eleven years. The top five spice importers over the same period were the U. 78% (2025-2029) resulting in a market volume of US$0. India is the largest producer of Red Dry chilly in the world in which the high contribution was given by Rajasthan India is second largest producer Spices and Seasonings Market. 21 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4. Spice Board India A lot of information about the worldwide spices market, including up-to-date price information. Source: Eurostat, 2022 As is clear from the above figure, developing-country suppliers play a small role in the European spice mixes market. 3% against the previous year. . , Kerry Group plc, Sensient Technologies Corporation, Cargill, Incorporated and Olam Group Limited are the major companies operating in this market. Imports In 2022, Sri Lanka imported $4. 6% over the last eleven years. 1B. In terms of the value of world trade, pepper, cardamom, ginger, turmeric, chilli, cinnamon nutmeg/mace, cloves, pimento and vanilla are Why Start a Spice Business in India? The spice industry in India offers immense potential for budding entrepreneurs. Each license type allows a set number of See our market information for the spices and herbs sector for information on topics such as trade flows, trends, requirements and market segments. 95% from 2024 to 2032. Be flexible and try to adapt to a buyer’s preferences. With the spread of spice cultivation, the sources of supply of spices at the global level have increased. The global spices market size was valued at USD 15. 1% to Global spices and seasonings market was valued at US$ 27. 1 Bn in 2020 to US$ 2. The market is influenced by increasing awareness of the medicinal properties of spices, a rising preference for ethnic The Spice House online store features exquisite spices, herbs and seasonings. In simple terms it is an exchange of a wanted spice or its product for a price. 7k). The need for authentic foods is one of the main drivers of spice consumption. , Japan, Germany, Netherlands, and The UK spice market reached $312M in 2023, standing approx. In 2023, the Australian spice market decreased by -8. Over the period under review, the market attained the peak level at $819M in 2022, and then dropped in the following year. Steps to start Spice Business in India . 2% over the period from 2012 to 2023; “My favorite spice store is Solvang Spice, an independent, female-owned store in the sweet town of Solvang in Santa Ynez Valley. Naturally, the market for ready-to-mix spices has expanded dramatically. Traceability is a major requirement amongst European buyers. 02 billion by 2030. 6% during the forecast period of 2025-2034, likely to The spice market is a fascinating and complex industry that has been around for thousands of years. 9k). Capturing space on the shelves of large retail chains is What is the Target Market for Spices? The Direction of the Spice Market The demand for spices is anticipated to increase as consumers become more health aware and continue to experiment with different cuisines. Spice market This paper aims to establish definitions and discuss potential health benefits, consumption patterns, and global markets for sauces, spices, and condiments. The market for medicinal spices and herbs is growing because consumers are becoming more interested in using these natural products for their potential health benefits. Daily Auction Price of Large Cardamom: Sno: Date of Auction: Market: Type: Price (Rs. accounted for market share of around 79% in 2023 in the North American market. Consumption Analysis of Spices (2017- 2023) Vs Market Estimations (2024-2032) From 2017 to 2021, the worldwide spices market grew at the rate The market for spices and herbs is witnessing significant growth in India at a value CAGR 4. Curcuma, cinnamon and vanilla are also products with good U. In general, the total consumption indicated a prominent expansion from 2012 to 2023: its value increased at an average annual rate of +5. 28 billion by the end of 2034. 0 for more information about European business cultures and etiquette in different countries. 07. 08 billion in 2024 and is projected to expand at a CAGR of 5. Seasonings and Spices Market Future Prospects. Business Planning Social Media Marketing for Herb and Spice Businesses. Make sure to stay active on social platforms to stay top-of-mind with your target audience, and interact with your followers by responding to In fact, India produces 75 out of 109 listed spices in the world that is almost 70% of the total production. Together, both regional markets hold a market volume share of more than 30% in 2023. 12bn in 2029. Government initiatives play a critical role by Pushkar Mukewar, CEO/Co-Founder, Drip Capital, explains how Indian spice exporters can enter the complex spice products market and cater to a growing consumer base from various geographies given that the global spice trade market is projected to reach US$ 24. Among the spices, ginger and turmeric The European market for value-added spices and herbs is very competitive, especially for consumer-packaged spices and herbs. Spice Market Outlook (2024 to 2034) According to a new industry report released by Fact. 88bn in 2029. India Spices Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034) India Spices Market Size, Share, Growth, Trends, Report: By Product Type: Pure Spices, Blended Spices; By Form: Packets, Sprinkler, Crusher, By Sector: Organised, Unorganised; By Application: Veg Curries, Meat and Poultry Products, Snacks and By 2025, the North American seasoning and spice market was projected to be valued at nearly 7. 2019-2029 The target market for spices that are looking for health benefits from spice consumption often looks for spices that are organic and free of chemicals. , offer further scope for enhancing domestic and international markets for spices. With social media, your spice brand will reach and engage with both new and existing customers. Spice consumption peaked at $3B in 2022, and then shrank in the following year. Market opportunities in Europe Europe is one of the main importers of herbs and spices worldwide, accounting for over a quarter of all herb and spice imports. 1 billion by 2033, with a CAGR of 6. 14M), and China ($365k). The global spices market accounted for US$ 6,671. 78 Billion in 2024 to USD 23. The trick is to find your niche and excel in that. This is because many spice mixes are sold in relatively small volumes. 15M), India ($1. 65% (2025-2029) resulting in a market volume of US$673. However, imports of value-added spices and herbs are becoming more popular as well. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). 4% over the last eleven-year period. 5% between 2021 and 2026. Over the period under review, the market hit record highs at $84M in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure. During the forecast period between 2023 and 2029, the India spices market. The global spices and seasonings market size was USD 28. Largest Consumer, producer and exporter of spices. Therefore, the market opportunity for a spice business in India is immense. 5 billion in 2023 to USD 39. The sector is facing new possibilities and difficulties as a result of the growing demand for organic and ethically produced spices. 7% to $46. Overall, consumption, however, saw a buoyant expansion. As a result, consumption attained the peak level of $858M. Exploring niche markets for organic spices, spice commodities from natural farming systems, spice commodities with farm-level traceability, etc. Figure 2 illustrates the growth of the crushed/ground spices and herbs market compared to the whole spices and herbs market. 25 billion by 2032, growing at a CAGR of 5. 78%. Moreover, as Indian cuisine gains global recognition, opportunities in The spice subsector has great potential for the country’s economic development and poverty alleviation, cultivation, preparation, transport, and merchandising of spices and herbs. Sayaji Market, The fastest growing export markets for Spices of Indonesia between 2021 and 2022 were Bangladesh ($1. Over the period under review, consumption showed a prominent expansion. As per the research report published by various international agencies, there is a high demand for Indian spices like Turmeric, Pepper, and Cumin all around the globe. 6k). 4 Threats. d9 at ECU million (US$ 2,229 million): 44% of this is represented by the retail trade, 41% by spices for industrial use The global market for spices is likely to witness expanding its valuation to about 61 billion U. Within Europe, the growth rate of organic spices consumption is The Sauces & Condiments market in Canada is projected to grow by 6. 60 billion in 2023. 91 Bn in 2023 and is expected to reach USD 19. 3 billion U. Asia Pacific currently dominates the market, holding a market share of over 78. The Thai spice market expanded modestly to $811M in 2023, with an increase of 4. 6% during the forecast period 2024-2030. In general, the total consumption indicated a mild increase from 2012 to 2023: its value increased at an average annual rate of +1. 4 billion by 2026 from USD 21. The trend pattern, however, indicated some noticeable The fastest growing export markets for Spices of Canada between 2021 and 2022 were France ($194k), Trinidad and Tobago ($164k), and Vietnam ($61. It’s basically a Spice Mountain Atlas, where you can search for your spices and also recipes by country or The market for whole spices and herbs is still the largest and is growing significantly at a rate of 6% per annum between 2013 and 2017. 2 9 20 th july 2024. sold avg. Make sure to stay After two years of decline, the spice market in the United Arab Emirates increased by 1% to $462M in 2023. The rise of the middle-class population has led to increased disposable income, resulting in higher demand for premium and organic spice products. Trends: Growing Trend of Food Blogging. 6B. 4% during 2024–2030. 28 million in 2023 to USD 466. MarketSpice has a new website! MarketSpice has everything you need from spices, teas, teapots, mugs, kitchenware, iced tea, coffee, cinnamon orange products and more! Purveyor of exceptionally fine spices & teas since 1911. Overview of Indian spices The story of Indian Spices is more than 7000 years old Centuries before Greece and Rome had been discovered. 91% from 2025-2033. 7% Dried Spices Market: Overview Dehydrated seasonings refer to natural products including herbs, seeds, fruits, or vegetables that have undergone the drying process for use in cooking. In this expanded version, we will delve deeper into the history, culture, and science behind the In 2023, after two years of growth, there was significant decline in the Indonesian spice market, when its value decreased by -5. 10% (2025-2029) resulting in a market volume of US$7. 9B. The overall demand in Europe is relatively stable, and volumes are large. Marketing of spices is the total system of business activities which is designed to plan, price, promote, and distribute spices and their products to target markets. Indonesia Spices market currently, in 2023, has witnessed an HHI of 1632, Which has increased slightly as compared to the HHI of 1269 in 2017. Manufacturers will need to create high-quality, attractive, and reliable products that are European imports of spices and herbs have been subject to various dynamics in the past few years. Increasing awareness about health benefits of spices, and demand for authentic cuisines Global Spices and Seasoning Market Size. 08M in Spices, becoming the 88th largest importer of Spices in the world. Or, if you speak the language of a European market, take advantage of this by targeting buyers in that market. Get contact details & address of companies manufacturing and supplying Whole Spices, Natural Spices, Khada Masala across India. 55 million in 2021. Buyers expect suppliers to meet The Spice House online store features exquisite spices, herbs and seasonings. price qty. Spices and seasoning production business is part of the Seasoning, Sauce and Condiment Production industry and operators in this industry The fastest growing export markets for Spices of Sri Lanka between 2021 and 2022 were Ghana ($211k), Indonesia ($119k), and Bangladesh ($86. 7% between 2023 to 2032. Spices and Seasonings Market Size, Share, and Trends 2024 to 2034. dollars by the end of 2028. 5% against the previous year. price kerala /tamil nadu The global spices and seasonings market is projected to reach USD 27. 63% to reach USD 7. At the same year, Spices was the 191st most imported product in Bangladesh. However, with this huge market comes tough competition. At the same year, Spices was the 540th most imported product in Russia. Ahmedabad, January 11 (CommoditiesControl): The cumin market in Gujarat has remained sluggish for the past four days, with prices falling by Rs 200 per 20 kg during this period. , Dohler Gmbh, Olam International, Kerry Group PLC and Sensient Technologies Corporation are the major companies operating in this market. 11% from 2024 to 2032. Over the period under review, consumption saw a slight downturn. Industry Overview. Tips: See Passport to Trade 2. spices market weekly vol. The Salt & Other Spices market in India is projected to grow by 5. 2M in Spices, becoming the 21st largest importer of Spices in the world. Imports In 2022, Canada imported $95. Demand for spices in the Swedish market is increasing. Our Potential Market is 1,50,000 Villages INTRODUCTION The size of the Swedish market for spices is estimated at about 12,500 tonnes in 2020. c. 2% during the forecast period (2021–2026). 8k), Austria ($35. Food and Beverages. 7% to $453M, rising for the fifth year in a row after two years of decline. Having a strong social media presence is essential. At the same year, Spices was the 422nd most imported product in Sri Lanka. The trend pattern, however, indicated some noticeable The spice subsector has great potential for the country’s economic development and poverty alleviation, cultivation, preparation, transport, and merchandising of spices and herbs. Spice consumption Spice Market Outlook (2024 to 2034) According to a new industry report released by Fact. Step into our Great American Spice store and the first comment you’ll make is, "Wow. Social Media Marketing for Herb and Spice Businesses. 1% to achieve a value of US$ 87. According to IBEF, India is the world The Sauces & Condiments market in South Africa is projected to grow by 4. The major exporting countries in global trade of spices are India and China and the major markets for consumption are USA and Europe. The largest produced spice in India is Chilies , followed by Turmeric and Garlic. 8% to $78M, falling for the second year in a row after two years of growth. 5% during the forecast period (2024–2032). After five years of growth, the Japanese spice market decreased by -1. Indian spices are popularly known for their flavour and aroma in domestic as well as in the international markets. 87 Billion by 2033, exhibiting a CAGR of 4. McCormick & Company Inc, Spice Importers and Millers CC, Kerry Group, Freddy Hirsch Group and Givaudan are the major companies operating in this market. The rise of food blogging has become a significant trend influencing the demand for spices and seasonings market. Vadodara, Gujarat. Spices Market Size. Overall, the total consumption indicated a resilient expansion from 2012 to 2023: its value increased at an average annual rate of +6. The Indian spice industry is one of the largest in the world, with a global market share of around 46%. This means an annual growth rate of 7. The spices industry is projected to grow from USD 16. Spice market Pushkar Mukewar, CEO/Co-Founder, Drip Capital, explains how Indian spice exporters can enter the complex spice products market and cater to a growing consumer base from various geographies given that the global spice trade In the spices market, under commodity code HS 0910, 2 the top ten exporters from 2003 to 2016 accounted for 70% of the total global value of spices exported, with China as the leading exporter accounting for 21% of the total export value (Table 2). The Spices & Culinary Herbs Market worldwide is projected to grow by 12. Key Takeaway: The truth is eCommerce marketing is an important part of running any wholesale India Spices Market – Industry Trends & Forecast Report, 2029. Spice consumption peaked in 2023 and is expected to retain growth in the near future. Selling spices online in India can be a lucrative business opportunity for entrepreneurs, as the demand for these products is always high. This product is a market research report. 68 Million in 2022. 5% to $1. 29% (2025-2029) resulting in a market volume of US$5. What Are the Primary Factors Driving Volatility in Spice Spot Prices? The spot prices of spices fluctuate due to various economic, environmental, and market-driven factors. Asia-Pacific Spices and Seasonings Market Overview Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Spices and Seasonings Market Size and Share: The global spices and seasonings market size was valued at USD 28. 1 million in 2024 to USD 244,124. In recent years, individuals have increasingly been paying attention to their health. Consumers in developed countries are See more The seasoning & spices market in the U. 35bn in 2029. It has approximate trade volume of 50 percent of total production of spices. And also Sri Lanka exports approximately 85% of True Cinnamon to the world market. Overall, consumption saw a relatively flat trend pattern. size is projected to grow at a CAGR of 10. 14% during the forecast period (2024 - The Africa Seasoning and Spices Market is growing at a CAGR of 3. 33M), United States ($775k), and Fiji ($230k). The Nepalese spice market rose modestly to $444M in 2023, increasing by 4. A Sample Spice and Seasoning Production Business Plan Template 1. At the same year, Spices was the 247th most imported product in Jamaica. 08M in Spices, becoming the 57th largest importer of Spices in the world. At the same year, Spices was the 596th most imported product in Australia. 94 billion in 2025 and grow at a CAGR of 6. Spices have been used for culinary, medicinal, and even religious purposes, and their importance in global trade and commerce cannot be overstated. Europe is the world's largest market for spice and herb extracts. 65 million in 2023 to an estimated USD 161. The COVID-19 pandemic opened up new opportunities for Indian spices, In the spices market, under commodity code HS 0910, 2 the top ten exporters from 2003 to 2016 accounted for 70% of the total global value of spices exported, with China as the leading exporter accounting for 21% of the total export value (Table 2). 2M), Oman ($978k), and United Arab Emirates ($591k). 50 billion in 2025 and grow at a CAGR of 4. In general, the total consumption indicated a temperate increase from 2012 to 2023: its value increased at an average annual rate of +3. Spices Market Size was valued at USD 16. 7 Cumin Prices Decline in Gujarat Amid Dip in Demand. 09M in Spices, becoming the 87th largest importer of Spices in the world. 86bn in 2029. Demand growth of spices and herbs in the South Asian region is rising at a significant rate, which provides a favourable market growth opportunity for spice and herb producers in India. Over the period under review, the market hit The Global Dried Spices Market size was valued at USD 13. They are now more conscious and curious about products' origins and production process. 3 billion in 2021, at a CAGR of 5. 1% to $410M in 2023. 34 billion by 2034, expanding at a CAGR of 5. 5% in 2024. Out of the total spices production, Indian households consume about 70-75 per Sri Lanka Spices & Allied Products Sector 7 12. Imports In 2022, Russia imported $37. Looking forward, IMARC Group estimates the market The global spices market size was USD 15. The Philippine spice market reduced slightly to $61M in 2023, declining by -4. Among the products in highest demand are ginger, dried chillies and pepper. 93 billion in 2024. 33 billion by 2030. Also, there is high demand for oregano masala, origanum spices Market Analysts: They offer insights into current market conditions, helping analysts predict future trends. 58 billion in 2025 and grow at a CAGR of 5. 6% between 2024 and 2034. Spices Market is projected to grow from USD 202. 62 million by 2032, reflecting a compound annual growth rate (CAGR) of 5. The global spices and seasonings market reached a value of more than USD 27. consumption of From 1540 on the Antwerp spice market felt serious compétition from the Marseilles market, which supplied most of the spices needed in France. Use digital solutions to ensure traceability. 3 Bn by the end of 2030, though spices are an essential part of a brand’s product portfolio, it has become challenging for manufacturers to sustainably source ingredients Revenue of spices and culinary herbs' market India 2018-2028 Revenue of spices and culinary herbs' market in India from 2018 to 2023, with forecast until 2028 (in million U. How long this rivalry continued, we cannot say, because of a lack of évidence. Imports In 2022, Bangladesh imported $69. Imports In 2022, Jamaica imported $4. 49% to reach USD 4. 78% over the next 5 years. 9% during the projection Spices Market Overview. You can then choose to also sell mixes or even a total imports of spice mixes have remained relatively stable despite growth in the total spices and herbs market. 2024 2023-2024 crop season 2022-2023 crop season (this week) ( last year same week) state / centre / auctioneer qty. Due to high quality production of the . 94% from 2024 to 2034. McCormick & Company, Inc. The global market is expected to grow at a CAGR of 5. Discover the world's research 25 In 2023, after five years of growth, there was decline in the global spice market, when its value decreased by -1. 8 billion by 2030, advancing at a CAGR of 4. 46% to reach USD 8. They are your competition as a spice mixes supplier. The trend pattern, however, indicated some noticeable 5. 8% over the last eleven-year period. pwetq bzxnxvz ruxt ovxkme bsc sqjz xgsqmc zolnzq znrao fszpj