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According to the latest report by IMARC Group “Spices and Seasonings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global spices and seasonings market size reached US$ 25.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 35.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.37% during 2023-2028.
Spices and seasonings are added to different recipes for enhancing their taste and texture. They comprise various additives extracted from plants or other natural sources, such as pepper, oregano, paprika, cardamom, cinnamon, cumin, coriander, fenugreek, and asafetida. They also include various herbs that are dried and transformed into powder, such as mint, rosemary, thyme, and dill, and blends of salt, sugar, and spices. They are a rich source of antioxidants that fight against inflammation and lower cholesterol levels in the body. They offer various health-benefiting properties to overcome complications related to digestion.
They also reduce blood sugar levels by breaking down carbohydrates and improving insulin sensitivity. They help with nausea and lower abdominal bloating and pain during bowel movements. Spices and seasonings also prevent headaches by providing soothing sensations when added and consumed with teas. They aid individuals in reducing anxiety and panic attacks by calming the nerves and mind. They can treat certain cancers, such as lung, prostate, and liver, when consumed daily. They prevent allergies, nasal congestion, and cough with their healing properties. As spices and seasonings are essential in improving the taste of food and possess multiple beneficial aspects, they are widely utilized in the food and beverage (F&B), confectionary, medicine, and medical industries across the globe.
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Market Trends:
The rising demand for spices and seasonings in the food and beverage (F&B) industry to manufacture various processed food items for the masses around the world represents one of the key factors driving the market. Besides this, the increasing demand for spices and seasonings as preservatives and antibacterial agents in fermented foods and beverages is propelling the growth of the market. In addition, the growing consumption of ready-to-eat (RTE) and convenient food products due to the increasing hectic lifestyles of individuals worldwide is positively influencing the market. Apart from this, the rising number of hotels, restaurants, and cafes serving premium quality dishes across the globe is propelling the growth of the market.
Additionally, the wide availability of organic spices through online and offline distribution channels, along with the expanding e-commerce industry, is strengthening the growth of the market. Additionally, the growing consumption of healthy teas to boost the metabolism and immunity system of the body is offering a favorable market outlook. Furthermore, key players operating in the industry are investing in research and development (R&D) activities to produce premium quality spice blends for exotic dishes, which is bolstering the growth of the market.
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