“Global spices and seasonings market projected to grow at a CAGR of 5.2% from 2015 to 2020”
The spices and seasonings market is projected to grow at a CAGR of 5.2% and reach USD 14.8 billion by 2020. The spices and seasonings market is driven by factors such as increased demand for snacks & convenience food and meat & poultry products due to changing consumer preferences. Furthermore, factors such as increasing disposable incomes and rapid urbanization have also increased the demand for spices and seasonings. The high growth potential in emerging markets and untapped regions provide new growth opportunities for market players. Complete report on spices and seasonings market spread across 186 pages, profiling 10 companies and supported with 108 tables and 95 figures is now available at http://www.rnrmarketresearch.com/spices-and-seasonings-market-by-type-application-meat-poultry-products-snacks-convenience-food-soups-sauces-and-dressings-bakery-confectionery-frozen-products-beverages-and-others-by-region-glo-st-to-2020-market-report.html .
“Asia-Pacific to lead the spices and seasonings market in terms of growth rate”
On the basis of region, the spices and seasonings market is led by the Asia-Pacific region. The usage of spices in the industrial sector is less in Asia-Pacific, which presents food processing industries with considerable untapped potential in this region. Furthermore, rising consumption of ready-to-eat food products owing to changing lifestyle and increased disposable income provides opportunities to packaged food manufacturers in this region.
The market size of spices and seasonings estimated in this study has been validated through primaries conducted with various industry experts globally. These primary sources have been divided in three categories: by company; by designation; and by region.
- By Company Type - Tier 1 – 20 %, Tier 2 – 20% and Tier 3 – 60%
- By Designation – C level – 40%, Director level – 60%
- By Region –Europe – 25%, APAC – 50%, Latin America– 25%
The leading players such as McCormick & Company (U.S.), Associated British Foods (U.K.), Kerry Group Plc. (Ireland), Olam International Limited (Singapore), and Ajinomoto Co., Inc. (Japan) have been profiled in the spices and seasonings market research report. Other players include Ariake Japan Company (Japan), SHS Group (U.K.), Dohler Group (Germany), Worlee Gruppe (Germany), and Sensient Technologies (U.S.). Priced at $4650 for a single user PDF, a discount on “Spices and Seasonings Market by Type, Application (Meat & Poultry Products, Snacks & Convenience Food, Soups, Sauces, and Dressings, Bakery & Confectionery, Frozen Products, Beverages, and Others), & by Region - Global Trends and Forecast to 2020” research report can be requested at http://www.rnrmarketresearch.com/contacts/discount?rname=484567 .
“Meat & poultry products accounted for the largest share in the spices and seasonings market”
Among the applications, meat & poultry products accounted for largest share in 2014 in the global spices and seasonings market. Factors such as increased demand for traditional food products and the need for preserving meat products have led to a rise in demand for spices and seasonings. Furthermore, the increasing consumption of Asian food products in developed countries such as the U.S. and Germany has also resulted in an increased demand for spices and seasonings.
On a related note, another research titled Spice Market Global Forecast to 2019 says, the Asia-Pacific is projected to be the fastest-growing market for spices, at a CAGR of 8.2% annually from 2014 to 2019. The positive growth in food processing industry and growing demand for processed meat products in the Asia-Pacific region will drive the spice market. Companies like McCormick & Company (U.S.), Associated British Foods (U.K.), Ajinomoto Co., Inc. (Japan), and Olam International (Singapore) have been profiled in this 220 pages research report available at http://www.rnrmarketresearch.com/spice-market-by-type-pepper-turmeric-nutmeg-ginger-coriander-cinnamon-cumin-clove-cardamom-garlic-application-bakery-confectionery-frozen-food-soup-sauces-beverage-meat-snacks-conv-market-report.html .
Explore more reports on Spices & Seasonings market at http://www.rnrmarketresearch.com/reports/food-beverage/food/spices-seasonings .
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