Blended Spices Market Growth & Trends
The global blended spices market size is expected to reach USD 32.58 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.4% from 2022 to 2030. The growing health consciousness among consumers is fuelling the growth of the market. The three main reasons behind the increasing demand for blended spices include natural flavoring, organic foods, and safe dietary supplements. Blended spices have observed an increase in popularity among several segments of people in the region as they are suitable in numerous applications, such as savory snacks and ready meals. This is, in turn, creating ample opportunities for market players over the forecast period.
Indian, Chinese, Thailand, and Vietnamese cuisines use a variety of spices to give their food a different flavor and taste. In the U.S., most people are getting more interested in home cooking. As a result, sales of blended spices such as pepper and ginger have increased considerably. The market for blended spices has been driven by a range of projects as well as initiatives intended to inspire people in the country to cook more food at home to release stress. Additionally, spice blends from North American nations have rich flavor levels. In recent times, there has been a lot of interest in blends mixing the Middle Eastern Mediterranean blended spice in North American foods, which include a mix of turmeric, coriander, and warm brown spices.
The garam masala segment dominated the market in 2021 with a revenue share of over 35.0%. Garam masala is a largely preferred blended spice type all over the world as it lowers cholesterol and blood sugar, slows down aging, and is anti-inflammatory. Moreover, it is lauded as a spice that helps digestion, increases immunity and metabolism, and promotes weight loss. It is a spice blend mostly used throughout South Asia.
Asia Pacific held the largest revenue share in 2021. This can be attributed to the rising consumption of blended spices in the region due to the increasing disposable income, the creation of various indigenous spice businesses, and increased advertising and sales activities. The majority of spices are grown in countries such as India, Vietnam, China, and Thailand, making the region one of the world’s leading exporters. Consumer food inclinations have changed as a result of market globalization and migration, providing new opportunities for food service establishments to add a range of blended spices to their cuisines. The market players face strong competition from each other as some of them function at various locations and have loyal customer bases. The existence of several small-scale players is also leading to augmented competition.
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Blended Spices Market Report Highlights
North America is expected to witness lucrative growth from 2022 to 2030. This is attributed to the various studies that have depicted that 50% of U.S. consumers seek to try new, exciting flavors
The berbere type segment is expected to exhibit a significant CAGR from 2022 to 2030. Berbere spices are continually gaining popularity across the cuisines globally with their robust flavors featuring a range of spices
The B2B distribution channel segment held the largest revenue share in 2021. It is the simplest channel of direct distribution of products from producer to customer
List of Key Players of Blended Spices Market
Spices, Inc.
Tony Chachere’s
EmpresasTajín
Badia Spices, Inc.
Mahashian Di Hatti Private Limited
Shan Foods (Pvt.) Ltd.
McCormick & Company, Incorporated
Everest Food Products Pvt. Ltd.
World of Spice Ltd.
MTR Foods Pvt Ltd.
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