The seasoning market is considered to be recession proof market as consumer prefer in house prepared food during unstable economic condition. Seasoning is an integral part of cuisine as it accountable to add aroma and taste to the food. Seasoning are primarily used in snacks to enhance the flavor of food. Owing to globalization coupled with growing influence of western countries, the seasoning market has grown significantly. Global seasoning market is growing tremendously due to the rising number of consumers considering seasoning to augment their meals with better tastes. Another reason for the expansion of seasoning market is the more preference of consumers for homemade seasonings due to the remedial nature associated with it. Traditionally, seasonings have been created and consumed very widely in the Asian countries, such as India. However, due to the changing demographics in the western countries is expected to promote the growth of seasoning and spices market.
Seasoning Market Segmentation
Global seasoning market is segmented on the basis of product type and region. Based on the product type segmentation includes pepper, herbs, spices, salt & salt substitutes and others. Among all the segments of seasoning market are segmented into salt and salt substitute segment and is expected to contribute maximum revenue over the forecast period due to the indispensable prevalence of salt in the various food products, followed by other segments. However, pepper is expected to witness fastest growth in the next four to five years due the continuous technological upgradation in the pepper manufacturing industry which leads to develop various pepper varieties. Global seasoning market is segmented on the basis of region into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Middle East and Africa and Japan.
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Seasoning Market: Region-wise Outlook
The global seasoning market is expected to witness robust growth over the forecast period due to the rising upper middle class population. Globally, among all regions, Europe is expected to dominant segment in terms of value followed by other regions over the forecast period. However Asia Pacific is expected to be dominant segment in terms of volume due the rising disposable income of the consumers. However other region such as North America is expected to contribute significant revenue during the forecast period.
Seasoning Market: Drivers
The major factors that promotes the growth of the global seasonings market is rising demand for western cuisines such Italian and French coupled with fluctuating consumer food habits in Asian countries. Increasing consumer awareness regarding the medicinal properties of various spices such cloves, cinnamon and turmeric which results in expansion of the seasonings market in the world. Seasoning such as spices, grown in Asian countries such as India are used to treat various diseases such as fungal infections, fever and cough, it works at faster rate in comparison to other antibiotics. Various restraining factors in the seasoning market are the uncertain climatic conditions in various spice producing countries coupled with unorganized logistics. Another factor that is detaining the growth of seasoning market is stringent government policies that restricts the imported spices. However, there is a rising demand for organic seasonings and spices which hold the huge growth opportunity in the coming next four to five years.
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Seasoning Market: Key Players
Some of the key players operating in the global seasoning and spices market are MDH Spices, Nestle S.A, The Kraft Heinz Company, McCormick & Company Inc., Everest Spices, DS Group and Unilever. Companies operating in the seasoning market are investing huge amount of money in order to launch various varieties of seasonings to cater the regional demand of the consumers.