GlobalSeasonings and Spices Market: Overview
Seasonings comprise various herbs and spices that arethemselves quite often referred to as "seasonings". However, somefood experts are of opinion that "to season and to flavor are not the samething" and they emphasize that seasoning comprises a small or a largeamount of salt being added to a preparation.
The globalseasonings and spices market is expected to gather momentum from the nutritional benefits ofvarious spices. A rising trend of addition of various spices in the variousready-to-drink and ready-to-eat products is likely to emerge as an influencingfactor for the global seasonings and spices market over the period ofassessment. Changes in the food habits of consumers, which also includes questfor newer mouthfeels is predicted to give the market a thrust. A growinginclination toward Asian cuisines is another factor influencing growth of themarket as spices are used in plenty in almost all of the Asian cuisines.
Product and region are the two key parameters based on which theglobal Seasonings and Spices Market has been divided. The objective of suchsegmentation is to provide a clearer, all-inclusive view of the globalseasonings and spices market.
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GlobalSeasonings and Spices Market: Notable Developments
One of the developments offering a peek into the market dynamicsabout the global seasonings and spices market is mentioned below:
· In August 2019, Japan-based food and ingredients company,Ajinomoto Co., Inc. acquired almost half of the US-based More Than Gourmet Holdings,a prominent liquid seasonings company. The latter is a leading producer ofFrench sauces and stocks. This acquisition is estimated to expand the reach ofthe integrated food solutions business of Ajinomoto in the North Americamarket. Increased use of liquid seasonings in preparations such as sauces,broths, and stocks as compared to powder seasonings is likely to increase thesales of Ajinomoto’s products in the region.
Some well-known organizations in the global seasonings andspices market comprise the below-mentioned:
· Kerry Group Plc
· Ajinomoto Co. Inc.
· McCormick & Company
· Olam International Limited
· Associated British Foods
· Worlee Gruppe
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GlobalSeasonings and Spices Market: Key Trends
The global seasonings and spices market is marked with thepresence of the following restraints, drivers, and opportunities.
GrowingPopularity of Traditional Cuisines is Likely to Shoot Up Demand
According to the Food and Agriculture Organization of the UnitedNations (FAO), change in the dietary habits of the people, particularly in thedeveloping regions of the world, is influenced by rise in the income,urbanization, and rapid economic development. Exposure to exotic foodpreparations along with growing interest in traditional dishes for daily foodintake is estimated to influence the market positively. In addition, increasingavailability of seasoning and spices in hypermarkets and supermarkets in urbanand semi-urban areas is estimated boost the global seasonings and spices marketover the tenure of assessment.
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In addition, rising demand for convenience food is likely to drivethe demand for seasoning and spices as well. The major end use sectors ofvarious spice mixes comprise producers of ready-to-eat meals, sauces, soups,snacks, and frozen products. Furthermore, growing preference for intakeof healthy food products amongst the young people in a bit to stay fit andlight has led to rising interest in the origin of the food ingredients. Assuch, more consumers are opting for clean-label flavors and ingredients as theyare continuously looking for natural products, which contain intrinsicallywholesome, fresh, balanced, and natural nutrition.
On the other hand, the food industry is faced with the challengeof finding out natural ingredients that will not maintain food quality but alsowill come with prolonged shelf life, desired texture, and taste. Inaddition, in comparison with artificial flavors, natural ingredients comecostlier.
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