Seasonings Market Size

Seasonings Market Size

Seasonings Market size exceeded USD 6.5 billion in 2021 and is estimated to grow at over 5.5% CAGR between 2022 and 2028 due to increasing cuisine adaptations across the globe. The rising investments in production capacity expansion and R&D for innovative spice blends are expected to drive the global product demand.

Seasonings are rich in nutritional contents, which include essential minerals and vital antioxidants, among several others. It is widely used in numerous application sectors such as restaurants, fast food chains, QSR’s and processed food products. Strong growth in tourism sector is anticipated to support the overall seasonings market share as tourists are often attracted to regional cuisines infused with special & popular natural seasonings. Besides, rise in the consumption of processed foods & beverages such as ready-to-eat meals, functional drinks, etc. will further boost industry size.

Changing consumer taste preferences coupled with growing popularity of ethnic cuisines will drive product demand. Several free-trade activities, such as NAFTA, RCEP, AFTA, ISFTA, CAFTA-DR, etc. have opened new export avenues for industry participants. Moreover, growing foodservice industry will bolster market growth as restaurants, caterers, and chefs are the major consumers of seasonings owing to aromatic & sensory characteristics of the product. Besides, increasing consumer awareness pertaining to medicinal benefits associated with the product is expected to further augment the seasonings market growth.