Organic Spice Market Size

Organic Spice Market Size

Organic spice Market size exceeded USD 31.95 billion in 2020 and is estimated to grow at over 8% CAGR between 2021 and 2027. Growing socio-economic development that enhances the affordability of products among the consumers, rising awareness towards health, and government initiatives to support the organic food will positively impact the market expansion. Also, consumers have realized post the covid-19 the organic spices aids to fight diseases and health problems as they increase immunity. Spices like cumin, turmeric, garlic, ginger, and even saffron are extremely beneficial for increasing immunity. Henceforth, rising awareness among consumers about maintaining a healthy diet will be a key factor influencing the market share.

The outbreak of COVID-19 has impacted the overall supply, distribution, and manufacturing of food products in the market. The outbreak of covid-19 has compelled governments across the globe to impose strict regulations and temporary lockdown of ports and business units resulting in a disruption in production and supply of raw material along with an upsurge in raw material prices. Nevertheless, as governments declared food products as an essential commodity, thus the relaxation on transportation and import & export of essential goods supported the supply of organic spice. Moreover, the growing consumer concern towards health due to increasing COVID-19 cases is driving the demand for organic and natural products attributed to their immunity-boosting properties, thus, driving the organic spice market statistics over the forecast period.
 

The high cost of organic spices compared to conventional spices is anticipated to restrict the growth of the organic spice market during the forecast period. The organic spices have a higher production cost and required more maintenance, this led to an increase in its prices. Nevertheless, the increasing consumer awareness towards healthy eating habits led to an increase in consumer spending on healthy food thereby driving the market size. Moreover, manufacturers of spices have to pay close attention to organic spice owing to the increasing demand for organic ingredients in the food industry around the globe.