Spice Market to Grow at 5.1% CAGR, Reaching US$ 87.28 Billion by 2034

The growing e-Commerce industry worldwide is contributing to the spice market size expansion due to their convenience in offering products, says Fact.MR.

ROCKVILLE , MD, UNITED STATES, January 31, 2025 /EINPresswire.com/ -- According to a new study published by Fact.MR, a market research and competitive intelligence provider, the worldwide spice market is approximated to generate a revenue of US$ 53.08 billion in 2024 and is projected to touch a value of US$ 87.28 billion by the end of 2034.

Customers' desire for a broad variety of genuine and authentic flavors is driven by the growing popularity of home cooking, which is mostly attributable to social media, cookery shows, food blogs, and other sources. This trend is increasing people's curiosity about trying out new recipes and discovering new cuisines. This is one of the main causes behind the spice market growth.

The market is expanding as a result of home cooks and chefs utilizing spices more widely to produce artisanal and gourmet meals and to improve their culinary creations. This shift reflects a desire for bold and unique flavors as well as a commitment to enhancing home cooking in general.

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North America is projected to account for a leading position in the market throughout the assessment period, primarily due to rising demand for clean-label and organic products. The growth of the market in the region is also pushed by the expanding e-Commerce platforms. Due to its status as one of the world's leading producers of spices, the market in East Asia is analyzed to provide lucrative opportunities in the future.

Key Takeaways from Market Study

The global market for spices is forecasted to expand at a 5.1% CAGR from 2024 to 2034.

In 2024, North America is approximated to hold 23.9% of the worldwide market share.

The market in East Asia is evaluated to reach a valuation of US$ 20.16 billion by 2034-end.

Based on nature, the conventional segment is estimated to account for 53.9% of revenue share in 2024.

The market in Japan is projected to touch a value of US$ 5.93 billion by 2034.

Demand for powdered spices is forecasted to reach US$ 39.8 billion by 2034-end.

“Due to the increasing customer demand for clean-label and organic products, prominent spice producers are focusing on offering organic spices. They are attempting to draw in more business by promising that their spices are free of chemical pesticides, additives, and preservatives,” says a Fact.MR Report

Popularity of Powdered Spices Continuously Growing Worldwide

Compared to other forms, powdered spices are becoming more popular around the world as they are quickly and simply added to meals without requiring extensive preparation. For home chefs, powdered spices are more useful because it is comparatively easier to store them than whole spices. Because home cooking is becoming more popular and people are interested in other cuisines, they are looking for a wider variety of flavors, which powdered spices easily provide. Innovations in spice processing and packaging are also improving the quality and strength of powdered spices, making them more desirable for use in culinary applications.

Growth Drivers for the Spice Market

Rising Consumer Demand for Natural and Organic Ingredients: Growing awareness of health benefits associated with natural and organic spices is driving demand. Consumers are increasingly shifting away from artificial additives and preservatives, favoring clean-label spice products.

Expanding Culinary Diversity and Globalization: Increased interest in international cuisines and cross-cultural food experiences is fueling spice consumption worldwide. The rise of fusion cooking and food tourism is further boosting the demand for regional and exotic spices.

Growing Popularity of Functional Foods: Spices are widely recognized for their medicinal and functional properties, such as anti-inflammatory, antioxidant, and digestive health benefits. The rising trend of functional foods and nutraceuticals is driving the incorporation of spices into various food and beverage products.

Booming Processed and Convenience Food Industry: The food processing industry is a key consumer of spices, using them in ready-to-eat meals, snacks, sauces, and seasonings. As demand for convenience foods grows, so does the need for high-quality and standardized spice ingredients.

E-commerce and Direct-to-Consumer Channels: Online retail platforms have made it easier for consumers to access a diverse range of specialty spices, including organic and ethically sourced varieties. The rise of direct-to-consumer spice brands is expanding market reach and consumer choices.

Sustainability and Ethical Sourcing Initiatives: Consumers are becoming more conscious of fair trade and sustainable sourcing in the spice industry. Ethical sourcing practices, along with supply chain transparency and traceability, are gaining traction, influencing purchasing decisions.

Technological Advancements in Processing and Packaging: Innovations in spice processing, drying, and packaging are enhancing product quality, shelf life, and safety. Advanced techniques such as cold grinding and cryogenic grinding are helping retain the flavor and nutritional properties of spices, contributing to market expansion.

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Spice and Herb Market: The global spice and herb market is experiencing steady growth, driven by increasing demand from the food processing industry and the rise of e-commerce. As consumers seek convenient yet flavorful food options, spices and herbs are widely used to enhance taste while maintaining a natural ingredient profile. The food industry relies on a diverse range of spices for products like snacks, sauces, and seasonings. Additionally, online platforms have made it easier for consumers worldwide to access a variety of spices, contributing to market expansion.

Dried Spices Market: The dried spices market is steadily growing, driven by increasing consumer awareness of their health benefits and flavor-enhancing properties. Pepper, in particular, remains a highly demanded spice due to its essential role in cooking and taste enhancement. As people seek convenient ways to add both flavor and nutrition to their meals, the use of dried and powdered spices continues to rise, supporting market expansion.

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