The Global Organic Spices Market to Reap $654.97
Million by 2028
According to Triton’s report, the global organic spices market garnered $295.21 million in 2019, and is set to showcase 9.26% of CAGR by 2028.
A recent study by Triton Market Research titled ‘Global Organic Spices Market,’ covers the Global Analysis and Forecasts by Product Type (Pepper, Nutmeg, Ginger, Turmeric, Clove, Mustard, Cinnamon, Others), by Distribution Channel (Direct, Indirect), by Form (Granular, Powder, Extract, Raw), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa).
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Triton’s report predicts the global organic spices market to chart a CAGR of 9.26% over the forecast period 2019-2028, and generate revenues worth $654.97 billion by the year 2028.
Products classified as organic are made in accordance with strict regulations imposed by government agencies. Therefore, organic spices are grown without being treated chemically, exposed to gamma radiation, or given additional hormone injections made by humans. Actually, no chemicals, artificial fertilizers, or pesticides are used in the cultivation of organic spices.
There has been a surging demand over the world for organic products, which is the main factor driving the growth of the organic spices market. The increasing preference for spicy foods is also
helping the market to further. Moreover, the growth of the processed food industry has fuelled a rise in the demand for spices. All these factors are responsible for the studied market’s growth.
Unfortunately, the high cost of these spices serves as a significant growth-restrictive constraint. Furthermore, the lack of knowledge about these products in unexplored regions has hindered the expansion of the industry. The market for organic spices has suffered as a result of the increase in food adulteration cases. The market's expansion is being hampered by all of these problems.
The market for organic spices is mainly categorized into product type, distribution channel, and form. Based on product type, it is divided into pepper, nutmeg, ginger, turmeric, clove, mustard, cinnamon, and others. Whereas, based on distribution channel, it is bifurcated into direct and indirect. And considering form, the market is categorized into granular, powder, extract, and raw.
The Asia-Pacific is set to showcase the fastest growth in the global market over the forecast period. The region includes the countries of India and China, which are major spice producers as well as exporters. Most regional cuisines and authentic food in these nations are prepared by making use of a variety of spices and condiments. Furthermore, the demand for organic food in Asia has grown by 15-20% every year over the last ten years.
The Food and Agriculture Organization states that, three of the top ten organic-producing countries in the world are located in the APAC region, viz., China, India and Australia. Moreover, the growing awareness among the consumers regarding the numerous health benefits resulting due to the consumption of organic food products, has led to a simultaneous increase in the demand and production of organic foods. The confluence of all these factors has resulted in the Asia-Pacific dominating the global market for organic spices.
Olam International, Frontier Co-op, Ramon Sabater SAU (Sabater Spices), Goya Foods Inc, Spice Chain Corporation, Husarich GmbH, Organic Spices Inc, Bart Ingredients, Live Organic, Pacific Spice Company Inc, UK Blending Ltd, Ako GmbH, Daarnhouwer & Co, The JR Watkins Co, and SunOpta are the established players in this market.
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Question & Answer: Organic Spices Market
Question 1: What factors are responsible for the organic spices market growth?
Answer: There has been a surging demand over the world for organic products, which is the main factor driving the growth of the organic spices market. The increasing preference for spicy foods is also helping the market to further. Moreover, the growth of the processed food industry has fuelled a rise in the demand for spices. All these factors are responsible for the studied market’s growth.
Question 2: What factors are impeding the growth of the organic spices market?
Answer: Organic spices are high in cost, which acts as a major growth-restricting factor. In addition, the low awareness regarding these products in untapped markets has hampered industry growth.
The rise in instances of food adulteration has also had a negative impact on the demand for organic spices. All these factors are impeding the growth of the market.
Question 3: Which region is expected to dominate the organic spices market?
Answer: The Asia-Pacific is set to account for the highest share in the global market over the forecast period. The region includes the countries of India and China, which are major spice producers as well as exporters. Most regional cuisines and authentic food in these nations are prepared by making use of a variety of spices and condiments. Furthermore, the demand for organic food in Asia has grown by 15-20% every year over the last ten years.
The Food and Agriculture Organization states that, three of the top ten organic-producing countries in the world are located in the APAC region, viz., China, India and Australia. Moreover, the growing awareness among the consumers regarding the numerous health benefits resulting due to the consumption of organic food products, has led to a simultaneous increase in the demand and production of organic foods. The confluence of all these factors has resulted in the Asia-Pacific dominating the global market for organic spices.
Question 4: Which are the established players in the organic spices market?
Answer: Olam International, Frontier Co-op, Ramon Sabater SAU (Sabater Spices), Goya Foods Inc, Spice Chain Corporation, Husarich GmbH, Organic Spices Inc, Bart Ingredients, Live Organic, Pacific Spice Company Inc, UK Blending Ltd, Ako GmbH, Daarnhouwer & Co, The JR Watkins Co, and SunOpta are the established players in this market.
Related Report:
Global Halal Food & Beverage Market
The global halal food & beverage market is set to exhibit revenue growth in the forecast years 20192027. It will grow at a CAGR of 5.85%, generating $77.07 billion by the year 2027.
There has been a growth in the Muslim population worldwide. On an average scale, the fertility rate in Islamic countries is higher as compared to that in the rest of the developing nations. And it is notably higher than that in the more developed countries. It is anticipated that, in the future, the Islamic population across the world will show a higher percentage growth, both in relative and absolute terms, as compared to the overall global human population. The high rate of immigration to western countries is another major factor contributing to the rise in the population of the Muslim community.
The growth in the Muslim population over the world is expected to majorly impact the halal industry in a positive manner, thereby leading to increased consumption of halal foods & beverages over the forecast period. Besides the increase in population, the literacy and income rates among Muslims have also witnessed growth in the last decade. These factors have resulted in a higher demand for halal food & beverages over the coming years.
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