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Market Scenario:The global organic spices market is presumed to expand at 4.89 % CAGR during the forecast period (2016-2022) owing to the growing demand from food and beverage segments, asserts Market Research Future (MRFR). Organic spices are natural spices that are devoid of artificial chemicals and additives. They are grown in wild or fully natural environment without the use of artificial pesticides. Organic spices are added to enhance the taste, texture, and the nutrient content of the meal.
Drivers and Constraints Impacting the Market
The rising demand for natural flavoring agent is causing the market to expand at an incremental pace of development. Consumers nowadays prefer organic spices over ordinary spices as a part of their daily diet which is triggering the demand for organic spices. Also, several convenience food manufacturing companies are adding organic spices in their food to make their product different from their competitors. The growing popularity of natural and exotic ingredients in food preparation due to their long-lasting aroma is considered to contribute towards the market growth. Moreover, the growing awareness for food safety due to health hazards and pesticide residues in spices are likely to drive the market at a global platform.
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On the flip side, organic spices can be quite expensive which is likely to inhibit the market growth over the forecast period. Also, organic spices possess distinctive flavors and aromas which might make the food taste unappealing.
Industry News:
October 10, 2018: FoodStory Brands, the company behind Fresh Cravings has recently announced the launch of Fresh Cravings Organic Salsa in Florida-based Publix Super Markets. The new line of Fresh Cravings Organic Salsa is available in restaurant style mild, hot, and medium heat varieties and chunky salsa medium heat and mild varieties.
Competitive Dashboard:
The major players operating the global market are SOAP, Rapid Organic, Organic Spices, And Starwest Botanicals Inc., Simply Organic, Frontier Natural Products, Earthen Delight, Live Organics Pvt Ltd, The Spice Hunter Inc., Yogi Botanicals Pvt Ltd, and others.
Segment Analysis:
The global organic spices market has been segmented on the basis of function, type, application, form, and region.
By mode of type, the global organic spices market has been segmented into cumin, saffron, garlic, chili, clove, cinnamon, pepper, ginger, turmeric, nutmeg, and others. Garlic was presumed to dominate with 50 % of the global market share. The growth is attributed to the extensive use of ginger in daily lives.
By mode of function, the global organic spices market has been segmented into preservative, flavor, and color. Among these, flavor is estimated to form an essential function base and holds the maximum market share.
By mode of form, the global organic spices market has been segmented into minced, seeds, crushed/chopped, ground/powder, flakes, whole, roots, and others.
By mode of application, the global organic spices market has been segmented into culinary, soups and noodles, meat & poultry products, snacks & convenience foods, sauces and dips, and others. Among these, the culinary application is estimated to hold a significant share in terms of revenue owing to the high usage of ingredients such as coriander, chili, ginger, and others. Moreover, high consumer preference for these ingredients owing to health benefits is likely to strengthen product penetration.
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Regional Insights:
Geographically, the organic spices market span across Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, Asia Pacific is presumed to dominate the global market followed by North America. The growth is attributed to the presence of major countries such as Vietnam and China who are the major producers of organic spices. Moreover, presence of several agro-climatic zones and seasons support the production of organic spices in this region.
The European region is likely to register a significant growth during the review period owing to the growing preference for natural food products. Also, expansion in the mainstream retail industry with supermarket chains is considered to drive the global market.
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Website: https://www.marketresearchfuture.com/reports/organic-spices-market-1852
Release ID: 502811
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