Asia-Pacific Spices And Seasonings Market

Asia-Pacific Spices And Seasonings Market  Size and Growth Analysis:

Asia-Pacific Spices and Seasonings size was around USD 2.44 billion in 2021. It is expected to grow at a CAGR of 6% to reach USD 3.27 billion by 2027. It captures 20% of the global market.

Asia-Pacific Spices And Seasonings Market Overview:

More often than not consumer prefer in house prepared food during unstable economic condition and because of that seasoning market is considered to be recession proof. It is an essential part of cuisine since it is accountable to add aroma and taste to the food. It is mainly used in snacks to enhance the flavour of food. Because of globalization along with rising influence of western countries, the seasoning market has risen significantly.Increasing number of consumers who consider seasoning to augment their meals with better tastes is the primary driver of this market. Rising disposable incomes in emerging economies and rapid urbanization are the secondary factors driving the growth of this market. Finally, changing demographics in the western countries is also likely to affect the market growth in a positive way.Growing cases of unfair trade practises leading to many arbitrations internationally and sanctions of WTO in many countries is the primary restraint of this market. Furthermore, volatility in the market prices of spices and fragile supply chains make it difficult to sustain a high growth trajectory over a period of time.

Asia-Pacific Spices And Seasonings Market Segmentation:

The Asia-Pacific Spices and Seasonings can be categorized into two categories:

• Type,

• application

If we go by Type, Spices and Seasonings are segmented into

• pepper

• capsicum

• ginger

• cinnamon

• cumin

• turmeric

• nutmeg

• mace

• cardamom

• coriander

• cloves

In this segment pepper followed by capsicum are the leading segments in the market. The use of pepper as a key ingredient in various cuisines has increased worldwide. Apart from that, it is used extensively as a medicine in Ayurveda treatments thereby increasing its demand worldwide.

On the basis of application, the market is categorized into

• meat & poultry products

• Snacks & convenience food

• Soups

• sauces

• dressings

• Bakery & confectionery

• frozen products

• Beverages

In the applications segment, meat & poultry products commanded the largest market share in 2016. The demand for snacks & convenience food is likely to grow due to changing dietary patterns of consumers and of their changing consumer lifestyles.

Asia-Pacific Spices And Seasonings Market geographical Analysis

By geography, the Asia-Pacific Spices and Seasonings has been categorized into

• India

• China

• Korea

• Japan

It is third-largest in terms of market share. India is the leading player in the region. It is the fastest-growing market. Large spice production, low-cost labour, and lower prices of spices are the causes attributable to the observable trend mentioned above.

Asia-Pacific Spices And Seasonings Market Key players:

1. McCormick & Company (U.S.)

2. Associated British Foods (U.K.)

3. Kerry Group Plc. (Ireland)

4. Olam International Limited (Singapore)

5. Ajinomoto Co., Inc. (Japan)

6. Ariake Japan Company (Japan)

7. SHS Group (U.K.)

8. Dohler Group (Germany)

9. Worlee Gruppe (Germany)

10. Sensient Technologies (U.S.)