USD 21.65 Billion
Blended Spices Market Size, Share, Growth Analysis, By Type(Garam masala, berbere), By Distribution Channel(B2B and B2C) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2300 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
63 |
Figures:
75
Blended Spices Market Insights
Global Blended Spices Market size was valued at USD 21.65 Billion in 2022 and is poised to grow from USD 22.86 Billion in 2023 to USD 35.35 Billion by 2031, at a CAGR of 5.6% during the forecast period (2024-2031).
The global blended spices market refers to the market for spice blends that are used for seasoning and flavoring in various food products. Blended spices are a mixture of several spices in specific proportions that are carefully blended to produce a unique flavor profile for each blend. These blends are used in various cuisines worldwide, and the market for blended spices has been growing steadily due to the increasing popularity of exotic and ethnic cuisines. The purpose of the market is to cater to the growing demand for flavor and taste in various food products. The increasing demand for ready-to-use spice blends that provide convenience in cooking and save time is driving the growth of the market. The primary drivers of the market include the increasing demand for exotic and ethnic cuisines, the growing popularity of convenience foods, and the rising demand for healthy and organic spice blends. The increasing awareness of the health benefits of spices, such as their antioxidant and anti-inflammatory properties, is also driving the demand for blended spices. The major restraints of the market include the high cost of premium and organic blends, the availability of counterfeit and low-quality products, and the fluctuating prices of raw materials. The high competition in the market and the stringent regulations on the use of certain spices in various countries are also hindering the growth of the market.
The key trends in the blended spices market include the growing demand for organic and natural spice blends, the increasing popularity of fusion cuisine, and the rising trend of using spices in functional food products. The trend of using exotic and lesser-known spices in various cuisines is also gaining popularity, which is driving the demand for unique blends. The opportunities in the blended spices market include the increasing demand for customized blends, the rising trend of using spice blends in bakery and confectionery products, and the growing popularity of spice blends in the Asia Pacific and Middle Eastern regions. The increasing popularity of online distribution channels and the rising trend of using spice blends in functional food products are also expected to drive the growth of the market.
US Blended Spices Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
B2B
Fastest Growth
B2B
Growth Rate
5.6% CAGR
Global Blended Spices Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Blended Spices Market Size By Distribution Channel 2021-2030 ($ Bn)
Global Blended Spices Market Size By Distribution Channel 2021-2030 (%)
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Blended Spices Market Segmental Analysis
Global Blended Spices Market is segmented on the basis of type, distribution channel, and region. By type, the market is segmented into garam masala, berbere, 5 Chinese spices, shichimi togarashi, and others. By distribution channel, the market is segmented into B2B and B2C. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Blended Spices Market Analysis by Type
The garam masala segment holds the largest share in the blended spices market, accounting for over 35% of the revenue. This spice blend is a popular mixture of cinnamon, cardamom, peppercorns, and mustard seeds, widely used in South Asian cuisines, particularly in India, Pakistan, and Nepal. Garam masala has a savory and peppery taste, with digestive benefits that support bloating, gas, and nausea. Due to these reasons, it has become a popular spice blend worldwide.
The Berbere segment is expected to grow at a CAGR of 5.8% during the forecast period. The trend of consuming ethnic food is on the rise in North America and Europe, owing to the growing multicultural population in these regions. Consequently, companies of all sizes are entering the ethnic food market, driving the demand for berbere spices. Berbere spices are native to the Middle East and Africa, and as a result, the demand for these spices is expected to increase significantly in the region.
Blended Spices Market Analysis by Distribution Channel
In 2021, the B2B segment captured the largest revenue share of more than 65.0% and is projected to maintain its dominance throughout the forecast period. It is a direct-distribution channel that allows manufacturers to distribute their products directly to their customers, fostering genuine relationships and developing customer loyalty and trust. Direct communication with manufacturers is highly valued by customers, which makes this distribution channel a popular choice for manufacturers.
The B2C segment is expected to register a significant CAGR of 5.1% over the forecast period. Indirect distribution channels to the customer offer advantages of convenience and speed. They enable companies to rapidly and easily enter new markets with minimal initial risk and cost. Additionally, companies can reach a large consumer base without the challenge of getting customers through the door. B2C sales can be a powerful accelerator for companies as they tap into a new customer base
Global Blended Spices Market Size By Distribution Channel 2021(%), 2023 (%)
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Blended Spices Market Regional Insights
The Asia Pacific region had the highest revenue share of over 55.0% in 2021 due to the significant demand for blended spices, which is primarily driven by domestic consumption and the food service industry. China has been able to acquire a major share of the global market owing to the high color value of its blended spices. India, on the other hand, is well-known for its amazing varieties of blended spices that nurture a rich diversity of cuisines and cultures. The country holds a significant position in the world for blended spice manufacturing, offering over 2000 ranges of spices, such as a blend of whole, chopped, grounded, roasted, and seasoning spices. Additionally, blended spices are widely consumed in other countries in the region, such as Bangladesh, Thailand, and Indonesia.
North America is projected to grow at the fastest CAGR of 6.5% over the forecast period. This growth can be attributed to the introduction of various blended spice products by major manufacturers, which have gained popularity among different segments of the population. Blended spices are versatile and find their application in numerous food products, including savory snacks and ready-to-eat meals. Furthermore, the increasing preference of consumers for healthy and convenient food products with a variety of flavors is expected to drive the market in this region.
Global Blended Spices Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Blended Spices Market Dynamics
Blended Spices Market Drivers
Growing consumer preference for exotic and ethnic flavors
- With the increasing popularity of ethnic and international cuisines, consumers are showing a growing preference for spices and blends that are commonly used in those cuisines. For instance, the popularity of Indian cuisine has led to a surge in demand for spices such as garam masala and curry powder. Similarly, the popularity of Mexican cuisine has increased the demand for blends such as chili powder and taco seasoning.
Health benefits associated with certain spices
- Many spices have health benefits associated with them, such as anti-inflammatory properties and antioxidants. This has led to an increased demand for blends that incorporate these spices, as consumers are increasingly interested in incorporating healthy ingredients into their diets. For instance, turmeric, a spice commonly used in Indian cuisine, has gained popularity in recent years due to its anti-inflammatory properties and has been incorporated into blends such as curry powder.
Blended Spices Market Restraints
Fluctuations in raw material prices
- The prices of raw materials used in blended spices, such as peppers and cinnamon, can be highly volatile due to factors such as weather conditions and geopolitical tensions. This can create uncertainty for manufacturers and lead to fluctuations in the cost of producing blended spices.
Adulteration of spices
- The adulteration of spices with inferior or artificial ingredients is a significant challenge for the industry. Adulteration can lead to health risks for consumers and can also damage the reputation of manufacturers. This has led to a growing demand for traceability and quality control measures to ensure that blends are made from genuine, high-quality ingredients.
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Blended Spices Market Competitive Landscape
The Global Blended Spices Market is highly competitive, with a large number of players operating in the market. The market is dominated by several major players. These companies have a strong brand presence, a broad product portfolio, and significant geographical reach. In recent years, there has been an increase in the number of regional players in the market. These players are focusing on product innovation and developing unique blends of spices to cater to changing consumer preferences. For instance, Everest Spices offers a range of blended spices that are specifically designed to cater to regional tastes in India. The market is also witnessing increasing competition from private label brands offered by retail chains such as Walmart, Carrefour, and Tesco. These private-label brands are gaining popularity among consumers due to their low cost and comparable quality. Moreover, companies are adopting various strategies such as mergers and acquisitions, collaborations, and partnerships to expand their market presence and increase their customer base.
Blended Spices Market Top Player’s Company Profiles
- Olam International (Singapore)
- Unilever (UK/Netherlands)
- MDH Spices (India)
- Associated British Foods plc (UK)
- Worlee Gruppe GmbH (Germany)
- Kerry Group plc (Ireland)
- Fuchs Gruppe (Germany)
- Badia Spices Inc. (US)
- Frontier Co-op (US)
- Baria Pepper (Vietnam)
- Synthite Industries Ltd. (India)
- SHS Group (UK)
- DS Group (India)
- Bart Ingredients (UK)
- Goya Foods, Inc. (US)
- The Kraft Heinz Company (US)
- ACH Food Companies, Inc. (US)
Blended Spices Market Recent Developments
- One year after acquiring most of the company's shares, Kraft Heinz announced the opening of Just Spices in the US in April 2023.
- The spice company Burlap & Barrel introduced a new line of spice blends for different culinary purposes in August 2022. The mixes are called herbes de Provence, za'atar, köfte Baharat, etc.
- July 2022 On April 1, the Kerry Group declared that it had acquired the specialized ingredient maker Natreon. To provide an extensive array of specialty components on a large scale, Natreon has put more of an emphasis on Ayurvedic botanical substances. Sensoril is another one of Natreon's proprietary compounds.
- DPGC announced in February 2022 the introduction of a new line of blended spices that are considered modern and have exotic, spicy, and acidic flavors.
Blended Spices Key Market Trends
- Increased focus on sustainable and ethical sourcing: Consumers are increasingly interested in the environmental and social impact of the products they buy, and this trend is also reflected in the blended spices market. Manufacturers are responding by focusing on sustainable and ethical sourcing practices, such as using Fairtrade-certified spices or sourcing from local suppliers.
- Growing demand for organic and natural blends: With increasing concerns about the use of artificial ingredients and additives in food products, there is a growing demand for organic and natural blends. Manufacturers are responding by developing blends that are free from artificial colors, flavors, and preservatives, and that use organic or non-GMO ingredients.
Blended Spices Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Blended Spices Market analysis, the market is driven by factors such as increasing demand for convenient and easy-to-use seasoning solutions and the popularity of international cuisines. The market is highly competitive, with a large number of players operating globally, ranging from small and medium-sized enterprises to large corporations. Companies are focused on developing new and innovative products to cater to changing consumer preferences, expanding their distribution networks, and investing in marketing and advertising initiatives to increase brand awareness and consumer loyalty. In addition, players are also investing in research and development to improve the quality of their products, reduce costs, and develop more sustainable sourcing and production practices.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 21.65 Billion |
| Market size value in 2031 | USD 35.35 Billion |
| Growth Rate | 5.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Blended Spices Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Blended Spices Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Blended Spices Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Blended Spices Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Blended Spices Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Blended Spices Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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