North America Seasonings Market size to exceed $5bn by 2027
Published Date: October 22, 2021 Authors: Kunal Ahuja, Tushar Malkani
North America Seasonings Market size is estimated to exceed USD 5 billion by 2027, according to a new research report by Global Market Insights Inc.
Rising consumption of convenience food coupled with the growing popularity of ethnic cuisines is anticipated to drive the market demand. The demand for spices and seasonings has increased in recent years owing to their varied nutritional benefits. Moreover, wide product applications across meat & poultry, bakery & confectionery, and savory products are propelling regional business expansion. Besides, the willingness of consumers to pay a premium price for authentic flavors and tastes will further create new growth opportunities for key industry participants.
Increasing preference for ready-to-eat foods owing to busy work schedules and shifting interests toward new tastes & flavors is likely to bolster the regional industry growth. Furthermore, several free-trade activities, such as NAFTA and CAFTA-DR, will boost profit margins for manufacturers as they will lead to a decrease in the supply chain cost. Factors including expansion in the foodservice industry and the emergence of e-commerce channels accompanied by significant growth of restaurants, caterers, and chefs may propel the North America seasonings market statistics.
Browse key industry insights spread across 145 pages with 149 market data tables & 21 figures & charts from the report, “North America Seasonings Market Forecasts, By Type (Oregano, Pepper, Paprika, Ginger, Cinnamon, Cumin, Turmeric, Garlic, Cardamom, Coriander, Cloves), Application (Bakery And Confectionery, Beverages, Frozen Foods, Savory, Meat And Poultry), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027”, in detail along with the table of contents:
Enhanced application of oregano seasonings in various applications to augment North America seasonings market size
Oregano is one of the most popular types of seasonings owing to its taste benefits and different types of blends available in the market. Its usage in specialty cuisines, such as pasta & pizza, has increased in North American countries in recent years. Rising consumers awareness pertaining to taste and health benefits associated with oregano seasonings in daily food preparations is anticipated to stimulate segment landscape.
Pepper segment is forecast to expand at over 5% CAGR till 2027 owing to increasing adoption in processed foods and packaged foodstuffs
Pepper is produced from dried & ground peppercorns and is primarily used to enhance the flavor of a meal. Additionally, the widescale availability of pepper owing to imports from Vietnam, Brazil, and Indonesia will support the regional business expansion. For instance, the U.S. import of pepper stood at around 19% in 2020. An upsurge in demand for bakery, confectionery, and prepared meals has augmented regional consumption.
North America seasonings market from savory application is set to register around 5% CAGR through 2027 due to surging adoption of flavor enhancers in meat & seafood, convenience foods, and snack products
The savory application segment is anticipated to surpass USD 1.4 billion by 2027. The segment contributed a significant share in the North American seasonings industry. Growth is promoted by innovations in savory dishes available in restaurants as consumers are shifting their preferences regarding tastes and flavors. Besides, the introduction of innovative savory snacks from food retail giants, such as Dominos, McDonald’s, and KFC, will further augment the segment expansion.
Easy product availability along with rapid expansion in end-use markets is likely to fuel the U.S. seasonings industry outlook
Rising consumer spending on natural ingredients along with changing taste preferences has expedited the use of seasonings in the U.S. Additionally, the rising consumption of soups and stir-fried dishes has proliferated the regional growth as different types of blends are used for producing these products. Furthermore, factors including favorable regulatory policies and abundance of raw material supplies in the U.S. have also contributed to the regional industry expansion.
Major industry players include McCormick & Company, Inc., Olam International, Corbion, Nestle, Associated British Foods plc, and Ajinomoto Co. The other companies in the North America seasonings market include MDH Spices, Everest, Fuchs North America, Pacific Spice Company, and Kraft Foods. The key strategies observed among industry participants include new product development pertaining to specific applications, capacity expansion, and distribution network expansion.