Global Organic Spices market, which is slated to accrue revenue worth 24.32 (USD Billion) by 2026, is set to record the CAGR of nearly 5.2% over the period from 2020 to 2026.
New York, United States - November 3, 2020 /MarketersMedia/ —
As per to forecasters at Zion Market Research, the global organic spices market size is anticipated to attain USD 24.32 billion by the end of 2026. The market is projected to witness a growth at a CAGR of 5.2% during the forecasted period 2020–2026. The rising inclination for healthy and chemical-free products is likely to impel the growth. Higher demand for exotic, traditional, and ethnic food flavors is projected to propel the growth. Furthermore, the introduction of genuine spices by the leading brands is anticipated to optimistically influence global demand.
Some of the prominent players in the market are Organic Spices Inc., McCormick & Company, Inc., Unilever, Monterey Bay Spice Co., DS Group, S&B Foods Inc., and others.
Rise In Consumer’s Health Consciousness To Stimulate The Global Organic Spices Market
Previously there was demand just for normal spices but at present owing to consumer’s health consciousness, the demand for organic spices has augmented and which is giving a vast rise for the global organic spices market. The major producers of the organic spices are likely to achieve various certifications so as to provide their best qualified organic spices to their customers. The different organizations and boards support the NGOs and farmers for embracing organic farming which in-turn augments the augmentation of organic spices in the market. There is a noteworthy growth in exotic cuisines, which advances the use of organic spices owing to augmented consumer’s inclination toward the quality of the product.
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The global organic spices market is bifurcated on the basis of product, application, distribution channel, and regional analysis. Based on the product, the market is divided into powder, whole, and chopped/crushed. Based on the application, the market is divided into household and commercial. Based on the distribution channel, the market is divided into online, convenience stores, and supermarket/hypermarket.
The Asia-Pacific Region Has Witnessed Higher Rate Of Consumption In The Global Organic Spices Market
Based on the geographical analysis, the global organic spices market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The demand for organic spices has surged in emerged regions like the U.S., Japan, Australia, and Europe. Europe is the chief market in the global organic spices market, owing to augmentation in the use of organic products across the region since the traditional spices which are sterilized with dangerous chemicals are expelled in Europe. The Asia-Pacific region has registered a higher rate of consumption for these spices, due to a surge in demand and fondness for spicy food across the region. Regions like India—which is one of the major manufacturers of spices—produces over 60 different types of spices and send overseas to more than 150 nations, has also encouraged the adoption of organic spices.
The global organic spices market is segmented as follows:
Based on the product:
Whole
Powder
Chopped/Crushed
Based on the application:
Household
Commercial
Based on the distribution channel:
Convenience stores
Supermarket/hypermarket
Online
Based on the region:
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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Source: MarketersMedia
Release ID: 88984082
