Home > Pressrelease > Organic Spice Market size to exceed USD 55.7bn by 2027
Organic Spice Market size to exceed USD 55.7bn by 2027
- Published Date: January 25, 2022
Organic Spice Market size is set to surpass USD 55.7 billion by 2027, according to a new research report by Global Market Insights Inc.
Organic spices are fresher and healthier to consume, as they consist natural essential oils and flavours. Also, organic spices are richer in nutrients as they are grown without use of any preservatives and pesticides which sometimes destroy the nutrients in spice. Also, the increased consumer awareness towards the application of chemical fertilizers and pesticides on crops will support the market growth. Synthetic spices often consist of artificial food colors which can further impact the consumer’s health and drive the overall industry expansion.
Wide application of garlic in multiple food products including savoury, culinary will fuel its demand in the forecast timeframe.
Organic spice market from garlic is likely to surpass USD 12 billion by 2027. Garlic provides the aromatic flavors in the various dishes which led to support its demand in various food products. Additionally, rising demand for savoury and culinary food are supporting strong demand for garlic in the form of powder, garlic vinegar, garlic salts, and garlic cheese croutons.
Growing preference towards snacks and convenience food should support organic spice demand in the food and beverage industry.
Organic spice market from snacks & convenience foods application is projected to surpass USD 11.5 billion by 2027. This is due to evolving consumer consumption patterns which led to increased consumption of snacks & convenience foods. The fixed ‘meals thrice a day’ model seems to no longer be applicable in the current scenario. The changing consumer eating pattern such as acceptance of snacking attitudes and choices on the basis of health, brand, and convenience will drive the overall market expansion.
The rising number working women especially in the developing region also led to increase the demand for more convenience food products in the market. Therefore, factors such as change in consumer eating model and increasing working women led to high adaptation of snacks and convenience food in the industry and support the product demand over the coming timeframe.
Easy availability and cost-effective nature of ready-to eat meals should foster its demand
Organic spice market from ready-to eat meals application is anticipated to surpass USD 1.5 billion by 2027 with a CAGR of over 8.5%. Ready-to eat meals are a cost-effective alternative in food products as they are precooked. Furthermore, easy availability of ready-to eat meals at any point of time and at any place will positively impact on their demand. In addition, social media and various advertisement channel has played a vital role in creating awareness about ready-to eat meals among the consumers especially among the millennial should foster the organic spices demand in the ready-to eat meals application.
Browse key industry insights spread across 200 pages with 166 market data tables and 23 figures & charts from the report, “Organic Spice Market Forecasts By Product (Chili, Ginger, Turmeric, Garlic, Coriander/ Cilantro, Nutmeg & Mace), Application (Culinary, Meat & Poultry Products, Sauces & Dips, Snacks & Convenience Foods, Soups & Noodles, Ready To Eat Meals), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Rising spending on natural and healthy food product in the region should propel the North American market statistics
North America organic spice market is anticipated to cross USD 15 billion by 2027 at a CAGR of around 8%. Supportive government regulations and initiative towards adoption of natural and organic food will fuel the regional market outlook. Moreover, increasing organic ingredients launches focusing on its functional properties are fueling the business expansion in the region.
Furthermore, the strong outlook for packaged food and ready to eat meals along with a trend toward a healthy and busy lifestyle will propel industry growth over the forthcoming years. High consumer spending on premium & healthy food products, owing to change in perception towards the conventional and synthetic food products is generating new growth opportunities for organic ingredients in the food industry.
Key players in organic spice market includes The Spice House and Spices Inc. Yogi Botanicals, Live Organics, Salzhaus’l Himalaya Kristallsalz, Starwest botanicals, Rocky Mountain Company, and others. Key players implementing different strategies including investment in merger and acquisition to enhance their global presence and portfolio. For instance, In January 2021, RAPS GmbH & Co. KG. well-established supplier of food ingredients and spices acquired a majority stake in Biova GmbH. This acquisition also opens new markets and sales channels for Biova, especially in the European region.