Global Spices and Seasonings Market to Reach 3.2 Million Metric Tons by 2027
Amid the COVID-19 crisis, the global market for Spices and Seasonings estimated at 2.5 Million Metric Tons in the year 2020, is projected to reach a revised size of 3.2 Million Metric Tons by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027. Dehydrated Onion/Garlic, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach 1.1 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pepper segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at 688.1 Thousand Metric Tons, While China is Forecast to Grow at 6.2% CAGR
The Spices and Seasonings market in the U.S. is estimated at 688.1 Thousand Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 669.7 Thousand Metric Tons by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Mustard Seed Segment to Record 4.6% CAGR
In the global Mustard Seed segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of 385.8 Thousand Metric Tons in the year 2020 will reach a projected size of 507.3 Thousand Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 453.3 Thousand Metric Tons by the year 2027, while Latin America will expand at a 5.5% CAGR through the analysis period. We bring years of research experience to this 17th edition of our report. The 307-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Ajinomoto Co., Inc.
- Ariake Japan Company Limited
- B&G Foods, Inc.
- Fuchs North America
- Golden West Specialty Foods, Inc.
- Griffith Foods, Inc.
- Harris Freeman & Company Inc.
- McCormick & Co., Inc.
- Mehran Spice & Food Industries
- Old Mansion Foods
- Old World Spices & Seasonings
- Oregon Spice Company
- Rocky Mountain Spice Company
- S&B Foods Inc.
- Synthite Industries Ltd.
- The Bart Ingredients Company Ltd.
- The Spice Way
- Vanns Spices Ltd.
- Victoria Gourmet, Inc.
- Williams Foods, Inc.
- Xcell International Corp.