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Global Spice Market Grow at a CAGR of 8.2% to Reach $10 Billion by 2019

ReportsnReports.com adds report "Spice Market by Type (Pepper, Turmeric, Nutmeg, Ginger, Coriander, Cinnamon, Cumin, Clove, Cardamom, Garlic) Application (Bakery, Confectionery, Frozen Food, Soup, Sauces, Beverage, Meat, Snacks, Convenience Food) & Region - Global Trends & Forecast to 2019” to its store.

The market for spices is observed to be growing at a low rate in developed economies such as Europe and North America as compared to developing companies due to the matured industrial sector in the former. The meat and poultry industry is still consuming the majority of spices and consumption will continue to grow at the healthy rate. As spices are the best natural preservatives and consumer preference for chemical preservatives is declining, the spice market for the meat industry will continue to grow. The North American region formed the largest market for spices, and was valued at $3,159.4 million in 2013.

Asia-Pacific is projected to be the fastest-growing market for spices, at a CAGR of 8.2% annually from 2014 to 2019. The industrial sector usage of spices is very less in this region as compared to those in developed countries, which presents food processing industries with immense untapped potential in this region. Majority of spices consumed in this region are through the retail or catering sector.

The level of food processed in Asian countries, which are growing economically, is low. However, the processed food industry is expected to prosper in the near future. The positive growth in food processing industry and growing demand for processed meat products in the Asia-Pacific region will drive the spice market here.

The segments of the spice market considered for this study include types, applications, and regions. All growth parameters in individual segments have been considered. The meat and poultry and convenience food products sectors held the majority of the spice market in the year 2013.

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The market is dominated by a many large companies and comprises various regional large- and medium-scale players. The key players identified in the spice industry are McCormick & Company (U.S.), Associated British Foods (U.K.), Ajinomoto Co., Inc. (Japan), and Olam International (Singapore).

Others include spice mixtures & blends, dairy products, sweets, liquors, pickles, and functional foods

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Table of Contents

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Industry Trends

6 Market Overview

7 Spice Market, By Type

8 Spice Market, By Application

9 Spice Market, By Geography

10 Competitive Landscape

11 Company Profiles
11.1 Introduction
11.2 Olam International Limited
11.3 Mccormick & Company
11.4 Kerry Group Plc
11.5 Ariake Japan Company Limited
11.6 Dohlergroup
11.7 Associated British Foods Plc
11.8 Sensient Technologies Corporation
11.9 SHS Group Ltd
11.10 Synthite Industries Ltd
11.11 Ajinomoto Co., Inc.
11.12 Worlee Group


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