Europe Organic Spices Market is expected to reach over USD 3.86 billion by 2024 to reach USD 4.60 billion by the end of 2029, to record a CAGR of 3.68% throughout the forecast period (2024 - 2029).
Organic spices, as the name implies, are spices that are completely natural, that is, they do not contain the type of additives or artificial chemicals. Organic spices improve texture and flavour and increase the nutrient content of the food. The functionality of organic spices and normal spices may be the same, but organic spices offer more health benefits because they are formed by their natural nutritional content.
The popularity of multi-cuisine food should be a major factor in the demand for organic spices in Europe. The increasing preference among consumers for ready-to-use spices to save time while cooking without altering taste should encourage demand for these spices. The increasing importance of authentic Flavors with a fusion of ethnic ingredients is expected to continue to be a key factor in the growth of the European Organic Spices market in the next eight years.
Europe is the dominant region in terms of the consumption of different types of organic food products. This growth is supported by the increasing per capita spending and the development of products by manufacturers in these areas. Besides, some food providers are using these organic products with an increasing preference for such products. European countries are one of the main producers of organic turmeric. Higher price margin and variable trade regulations in importing countries are expected to hamper growth in the Europe Organic Spices market. The higher costs related to production and logistics can lead to a higher price range for organic spices compared to conventional items. However, the increase in the rate of organic food consumption, as well as the increase in disposable income specifically in Europe, offer a lucrative opportunity to forecast the European Organic Spices market.
IMPACT OF COVID-19 ON ORGANIC SPICES MARKET
The COVID-19 pandemic has resulted in a negative impact on the food and beverage sector with the supply chain disruption and challenges related to consumption. Agricultural production is depressed mainly due to rapid changes in behaviour and consumer demand.
The rising economic downturn is likely to pressurize the European organic spices market.
This Research Report on European Organic Spices Market is segmented and sub segmented into following categories
European Organic Spices Market By Product Segment
Among these types of products, turmeric represents the largest market share. The large-scale application of turmeric as a preservative or coloring agent in various kitchens is one of the key factors that are driving significant demand for the product on the world market. India, the United States, and some of the main European countries are the main producers of organic turmeric. Organic turmeric has supported demand from households and business sectors. In terms of consumption, North America represents the majority of the organic spice market, which is also explained by the increased demand for various organic food products.
European Organic Spices Market By Form Segment
Organic powdered spices represent the majority of organic spices. This is due to the fact that powder is the most convenient way to use organic spices in the preparation of different food products. As a result, most spice manufacturers are developing strategies on organic spices available in powder form. Organic Turmeric Powder is an ideal example of organic spices in their powdered forms, available on the market.
European Organic Spices Market By Distributional Channel
Distribution through direct distribution channels allows a greater share of value in the market. The growing demand for organic spices by food manufacturers and the foodservice industry has resulted in the distribution of more organic spices through direct channels.
European Organic Spices Market By Region
The market for Europe Organic Spices has been classified on the basis of geography to offer a clear understanding of the market. The European Organic Spices market has been divided into the United Kingdom, Germany, France, Italy, Spain, and the rest of Europe.
Europe is proving to be the world's largest market for organic spices, due to the better use of natural products in the region, as conventional spices that are sterilized with harmful chemicals are banned in the area. The growing preference for intercultural cuisines in European countries should stimulate the regional market for organic spices. New product launches in the UK and France are supposed to remain a key trend. For example, in 2017, McCormick expanded its portfolio of organic herbs and spices in the UK and France. In addition, the increased adoption of authentic flavors and authentic food preparation methods, especially for traditional staples from Eastern European countries like Russia and Poland, is expected to have a positive impact on business growth.
The European organic spice market will see a compound annual rate of over 3.68% over the next seven years due to a significant increase in spice consumption, particularly in Sweden and the UK. Increased use of ethical foods, as well as a growing preference for natural food products, will support industry demand. Expansion in the mass distribution sector, including supermarket chains, will stimulate regional demand.
KEY PLAYERS IN EUROPE ORGANIC SPICES MARKET
Key Players In Europe Organic Spices Market are UK Blending LTD, Organic Spices Inc, Daarnhouwer & Co,Spice Chain Corporation,The Watkins Co, Sabater Spices, Pacific Spice Company, Inc, Husarich GmbH, AKO GmbH, SunOpta Inc.
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