How big is the global spices and seasonings market?
The global spices and seasonings market reached a whopping $38.4 billion in 2022 and is expected to hit $58.4 billion by 2031, growing at a steady 5.4% CAGR.
What's driving the spices and seasonings market growth?
Rising health awareness, diverse flavor cravings, and convenience food trends are fueling the market's expansion. Consumers seek natural, premium spices for everything from ethnic dishes to processed snacks.
Which spices and seasonings are the most popular?
Chili & paprika reign supreme, holding a 30.8% market share in 2022. Their vibrant color and fiery kick add a taste punch to countless dishes worldwide.
What are the biggest challenges for the spices and seasonings market?
While the market thrives, potential side effects of excessive spice consumption and concerns about ethical sourcing could pose future challenges.
Who are the top players in the spices and seasonings market?
McCormick & Company, Inc., Lawry's Foods LLC, and Savory Spice LLC. are among the leading players, constantly innovating and catering to evolving consumer preferences.