The global organic spices market size is expected to reach USD 22.98 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.0% during the forecast period. Rising preference for chemical free and healthy products is anticipated to drive the growth.High demand for traditional, exotic, and ethnic food flavors is expected to drive the growth. Moreover, introduction of authentic spices by the top brands is expected to positively influence the global demand.
In addition, high demand for durable, easy-to-make, and convenience foods is expected to fuel the adoption of products such as powdered organic spices. Asia Pacific and North America ar anticipated to register high demand for powdered spices, on account of continuous product innovation to cater to the changing consumer preference. In addition, adaptation of traditional spices is also expected to escalate the demand for organic spices in developed countries including, U.S., Canada, U.K. and Germany among others. Moreover, innovation of new organic spices with high nutritional value and health benefits is projected to drive the demand for organic spices. For instance, in 2017, ITC launched a range of specialty spices under its Master Chef brand.
Organic spices including, turmeric, ginger, clove, and cinnamon also have various health benefits. The antioxidant properties of turmeric and ginger, help fight Alzheimer’s, cancer, and several viral diseases. The anti-bacterial properties of clove and cinnamon help cure viral diseases and sore throat. These health benefits of various spices are anticipated to drive the demand for organic spices in near future. Leading companies operating in the organic spice market focus on new product launches to cater to the rising demand. For instance, in October 2017, Sensient Natural Ingredients LLC launched a new range of organic botanical spices including pink pepper, saffron, and cardamom, among others.
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Further key findings from the report suggest:
• In terms of revenue, whole organic spices products is projected to ascend at a CAGR of 5.3% from 2019 to 2025, attributed to increasing usage of spices in the commercial segment for food processing units
• Powder product segment held the leading market share of over 52% in terms of volume in 2018, due to the easy availability and convenience of usage of these products
• Supermarket/hypermarket distribution channel held the leading market share of over 45% in 2018
• Asia Pacific led the global organic spice market with around 35% revenue share in 2018. It is projected to continue leading over the next few years owing to the innovation of new flavors in key countries including, China, India, and Bangladesh
• The market is highly competitive in nature with the presence of key players including, Yogi Botanicals Pvt. Ltd.; Live Organics; Starwest Botanicals; Salzhäusl Himalaya-Kristallsalz GmbH; Rocky Mountain Company; Rapid Organic Pvt. Ltd.; Organic Spices Inc.; Earthen Delight; The Spice Hunter; and Frontier Natural Products Corporation
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Grand View Research has segmented the global organic spice market on the basis of product, application, distribution channel, and region:
Organic Spices Product Outlook (Revenue, USD Million, 2015 - 2025)
• Whole
• Powder
• Chopped/Crushed
Organic Spices Application Outlook (Revenue, USD Million, 2015 - 2025)
• Commercial
• Household
Organic Spices Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
• Supermarket/hypermarket
• Convenience stores
• Online
Organic Spices Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o UK
• Asia Pacific
o India
o China
• Central & South America
o Brazil
• Middle East & Africa
o Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.