Spices & Stimulants Market - Forecast(2024 - 2030)
Spices & Stimulants Market Overview
The Spices & Stimulants Market Size is
estimated to reach $337.3 billion by 2027 and it is poised to grow
at a CAGR of 4.1% over the forecast period of 2022-2027. Stimulants refer to a wide variety of drugs and compounds
which can improve focus, vigor and sociability. Critically, an emerging class
of products has stimulants that inhibit ergogenic effects as well. Caffeine
and b-complex vitamins which exhibit antioxidant properties are widely utilized
in food and beverages product. Moreover, spices refer to any dried part of a
plant (plant-phytonutrients), other than the leaves. The growing
demand for authentic cuisines globally has been a revered factor for spices
adoption. Critically, stimulant growth is due to food-fortification
initiatives and rising label consciousness amongst consumers. The following
factors present a moderate outlook for the Spices & Stimulants Market for the projected period of 2022-2027.
Spices & Stimulants Market Report Coverage
The report: “Spices & Stimulants Market Forecast (2022-2027)" by IndustryARC, covers an
in-depth analysis of the following segments in the Spices & Stimulants Market.
Key Takeaways
- Geographically, Asia-Pacific held a dominant market share in 2021. It is due to a dominant position in both manufacturing and consumption, primarily in South-East Asia, where spices and stimulants hold functional importance. However, South America is expected to offer lucrative growth opportunities due to rising knowledge of product usage and availability in the region.
- Increasing knowledge of consumers regarding the availability and benefits of spices and stimulants in general groceries along with the inclusion of nutrient bases in newer product launches have aided the market growth. However, side effects of certain stimulants and malpractices regarding false labeling and claims impede growth.
- A detailed analysis of the strengths, weaknesses, opportunities and threats would be provided in the Spices & Stimulants Market Report.
Spices & Stimulants Market - Market Share (%) by region, 2021
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Spices & Stimulants Market Segment Analysis - by Type
The Spices & Stimulants Market based on types
can be further segmented into Spices & Stimulants. Stimulants held a
dominant market share in 2021. It is due to the vast consumption of
various stimulants such as coffee, tea, cocoa and others across the
regions and age groups. Additionally, this segment enjoys more cost benefits
than spices, which allows for supremacy in the segment. As per International
Coffee Organization 2021, nearly 3 billion cups of coffee are consumed each
day. However, the Spices segment is estimated to be the fastest-growing one, with a CAGR of 4.7%
over the forecast period of 2022-2027. Spices are considered a key ingredient
for home-cooked meals, which allows them to hold a dominant share. As per BMC
2020 article, an adult Indian woman consumes nearly 8.45-10.04 grams of spices
in a day.
Spices & Stimulants Market Segment Analysis - by Application
The Spices & Stimulants Market based on the
application can be further segmented into Meat and Poultry Products, Snacks and
Convenience Foods, Soups-Sauces-Dressings, Bakery and Confectionary, Frozen Products,
Beverages and Others. Beverages held a dominant market share in 2021.
It is due to the vast consumption base for this category and the growing application for stimulants in the said segment. As per Livemint 2020,
around 3.7 billion cups of tea are consumed every day around the world, owing to the growing role of caffeine intake. However, the Snacks and Convenience food segment is estimated to be the fastest-growing segment, with a
CAGR of 5.3% over the forecast period of 2022-2027. It is because of the growing
role of the product class in the market space, along with the need to
increase the labeling weightage in end-products sold.
Spices & Stimulants Market Segment Analysis - by Geography
The Spices & Stimulants Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. Asia-Pacific dominated the market with a 38% share in 2021. The region has an immense population base compared to the other regions which support a sizable market share for spices and stimulants. Furthermore, spices are a critical household ingredient in South-East Asia which delivers a strong growth proposition. According to FAOSTAT 2019, spice consumption per capita in China was 0.345 kg, nearly 21.4% higher than what it was in 2018. However, South America is estimated to offer lucrative growth opportunities over the forecast period. The nutritional benefits derived from seasonings and spices, such as cinnamon, nutmeg, basil and turmeric, among others have proved to be a key factor promoting the market growth.
Spices & Stimulants Market Drivers
The Growing Knowledge about the Benefits & Applications of Stimulants and Spices:
COVID-19
has induced the demand for spices in the western regions due to the
increasing awareness about the health benefits of particular spices and herbs.
Furthermore, cooking at-home trends during the pandemic have accelerated the demand
for spices. Moreover, with the opening up of economies post lockdowns, restaurants have introduced dishes highlighting the nutritious aspects of the
offerings. As per a
Mintel Study 2021, 35% of U.S. consumers are
tempted to try a new dish with a unique set of flavors and ingredients, while
nearly 80% of people have expressed to try new
seasonings, spices and flavors.
The Growing Prevalence of Diseases across the Globe Supplemented by Fortification Demands in Food Products:
Stimulants
refer to compounds that can boost mood or provide the ability to focus along
with vigor and sociability skills. The trend of food fortification has increased the demand for stimulant compounds. For example, thiamine enabled the
body to use carbohydrates as energy and plays a critical role in eliminating
the problem of malnutrition. As per WHO 2020, 149 million children under the age of 5
were estimated to be stunted while 45 million were estimated to be wasted (too
thin for height).
Spices & Stimulants Market Challenge
Presence of a Higher-than-Usual Amount of Ill Metals in Spices and Products along with Falsified Claims on Food Products:
As per ConsumerReports.Org, several spices and individual products showed high values of ill metals for human consumption. The list included nearly 15 various forms of spices used in a variety of cuisines or nearly 126 individual products from national and private-label brands such as Great Value from Walmart along with other renowned ones. As per the report, nearly one-third of the tested products or 40 in total had high levels of arsenic, lead and cadmium which pose high health risks to children. In 31 products, levels of lead were so high that they exceeded the maximum amount anyone should have in a day. Furthermore, brands have adopted a policy of falsified-label claims in various OTC products, which shows a different truth than displayed upon inspection.
Spices & Stimulants Industry Outlook
Product launches, mergers and acquisitions,
joint ventures and geographical expansions are key strategies adopted by
players in the Global Spices and Stimulants Industry.
The top 10 companies in the Spices & Stimulants Market are:
Associated British Foods
- McCormick
- Olam International
- Acomo
- C.F. Sauer Company
- Fuchs North America
- Vanns Spices
- Strauss Group
- S&B Foods
- House Foods Group
Recent Developments
- In May 2022, Spiceology, a newly launched spice company in the U.S., announced its partnership and new product line with Kwame Onwuachi, James Beard’s award-winning chef and acclaimed author.
- In September 2021, Olam Foods launched a new spice blend that gave manufacturers flavor for sensory experiences pertinent to regional cuisines of the Americas. Nearly 17 new spices blends would be launched, which in turn would be clean-label brands with unique twists on the classic taste experience.
- In May 2021, Rumi Spices launched three new spices and spice blends to Whole Foods Market Shelves nationwide in the U.S. Wild Black Cumin (Whole Seed), Herati Coriander, Wild Foraged Fennel, Ras el Hanout, Za’atar and Harissa are six different products which would be available.
Relevant Titles
Spices
Market - Industry Analysis, Market Size, Trends, Applications Analysis and
Forecast Analysis.
Report Code: FBR 0069
Report Code:
Report Code: FBR 99916
For more Food and Beverage Market reports, please click here
LIST OF TABLES
1.Global Industry Environment Market 2023-2030 ($M)1.1 Policy Market 2023-2030 ($M) - Global Industry Research
1.2 Economics Market 2023-2030 ($M) - Global Industry Research
1.3 Sociology Market 2023-2030 ($M) - Global Industry Research
1.4 Technology Market 2023-2030 ($M) - Global Industry Research
2.Global Spices and Stimulants Market by Type Market 2023-2030 ($M)
2.1 By Type Market 2023-2030 ($M) - Global Industry Research
2.1.1 Spices Market 2023-2030 ($M)
2.1.2 Stimulants Market 2023-2030 ($M)
3.Global Major Companies List Market 2023-2030 ($M)
4.Global Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
4.1 McCormick Market 2023-2030 ($M) - Global Industry Research
4.2 Olam International Market 2023-2030 ($M) - Global Industry Research
4.3 Acomo Market 2023-2030 ($M) - Global Industry Research
4.4 C. F. Sauer Company Market 2023-2030 ($M) - Global Industry Research
4.5 EDF; Man Market 2023-2030 ($M) - Global Industry Research
4.6 Fuchs Market 2023-2030 ($M) - Global Industry Research
4.7 House Foods Group Market 2023-2030 ($M) - Global Industry Research
4.8 Paulig Group Market 2023-2030 ($M) - Global Industry Research
4.9 SB; Foods Market 2023-2030 ($M) - Global Industry Research
4.10 Strauss Group Market 2023-2030 ($M) - Global Industry Research
4.11 Vanns Spices Market 2023-2030 ($M) - Global Industry Research
4.12 Wei Chuan Foods Market 2023-2030 ($M) - Global Industry Research
5.Global Demand by End Market Market 2023-2030 ($M)
5.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Global Industry Research
5.2 Demand in Independent Retailers Market 2023-2030 ($M) - Global Industry Research
5.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Global Industry Research
5.4 Demand in Online Retailers Market 2023-2030 ($M) - Global Industry Research
6.Global Industry Environment Market 2023-2030 (Volume/Units)
6.1 Policy Market 2023-2030 (Volume/Units) - Global Industry Research
6.2 Economics Market 2023-2030 (Volume/Units) - Global Industry Research
6.3 Sociology Market 2023-2030 (Volume/Units) - Global Industry Research
6.4 Technology Market 2023-2030 (Volume/Units) - Global Industry Research
7.Global Spices and Stimulants Market by Type Market 2023-2030 (Volume/Units)
7.1 By Type Market 2023-2030 (Volume/Units) - Global Industry Research
7.1.1 Spices Market 2023-2030 (Volume/Units)
7.1.2 Stimulants Market 2023-2030 (Volume/Units)
8.Global Major Companies List Market 2023-2030 (Volume/Units)
9.Global Spices and Stimulants Associated British Foods Market 2023-2030 (Volume/Units)
9.1 McCormick Market 2023-2030 (Volume/Units) - Global Industry Research
9.2 Olam International Market 2023-2030 (Volume/Units) - Global Industry Research
9.3 Acomo Market 2023-2030 (Volume/Units) - Global Industry Research
9.4 C. F. Sauer Company Market 2023-2030 (Volume/Units) - Global Industry Research
9.5 EDF; Man Market 2023-2030 (Volume/Units) - Global Industry Research
9.6 Fuchs Market 2023-2030 (Volume/Units) - Global Industry Research
9.7 House Foods Group Market 2023-2030 (Volume/Units) - Global Industry Research
9.8 Paulig Group Market 2023-2030 (Volume/Units) - Global Industry Research
9.9 SB; Foods Market 2023-2030 (Volume/Units) - Global Industry Research
9.10 Strauss Group Market 2023-2030 (Volume/Units) - Global Industry Research
9.11 Vanns Spices Market 2023-2030 (Volume/Units) - Global Industry Research
9.12 Wei Chuan Foods Market 2023-2030 (Volume/Units) - Global Industry Research
10.Global Demand by End Market Market 2023-2030 (Volume/Units)
10.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 (Volume/Units) - Global Industry Research
10.2 Demand in Independent Retailers Market 2023-2030 (Volume/Units) - Global Industry Research
10.3 Demand in Specialist Retailers Market 2023-2030 (Volume/Units) - Global Industry Research
10.4 Demand in Online Retailers Market 2023-2030 (Volume/Units) - Global Industry Research
11.North America Industry Environment Market 2023-2030 ($M)
11.1 Policy Market 2023-2030 ($M) - Regional Industry Research
11.2 Economics Market 2023-2030 ($M) - Regional Industry Research
11.3 Sociology Market 2023-2030 ($M) - Regional Industry Research
11.4 Technology Market 2023-2030 ($M) - Regional Industry Research
12.North America Spices and Stimulants Market by Type Market 2023-2030 ($M)
12.1 By Type Market 2023-2030 ($M) - Regional Industry Research
12.1.1 Spices Market 2023-2030 ($M)
12.1.2 Stimulants Market 2023-2030 ($M)
13.North America Major Companies List Market 2023-2030 ($M)
14.North America Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
14.1 McCormick Market 2023-2030 ($M) - Regional Industry Research
14.2 Olam International Market 2023-2030 ($M) - Regional Industry Research
14.3 Acomo Market 2023-2030 ($M) - Regional Industry Research
14.4 C. F. Sauer Company Market 2023-2030 ($M) - Regional Industry Research
14.5 EDF; Man Market 2023-2030 ($M) - Regional Industry Research
14.6 Fuchs Market 2023-2030 ($M) - Regional Industry Research
14.7 House Foods Group Market 2023-2030 ($M) - Regional Industry Research
14.8 Paulig Group Market 2023-2030 ($M) - Regional Industry Research
14.9 SB; Foods Market 2023-2030 ($M) - Regional Industry Research
14.10 Strauss Group Market 2023-2030 ($M) - Regional Industry Research
14.11 Vanns Spices Market 2023-2030 ($M) - Regional Industry Research
14.12 Wei Chuan Foods Market 2023-2030 ($M) - Regional Industry Research
15.North America Demand by End Market Market 2023-2030 ($M)
15.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Regional Industry Research
15.2 Demand in Independent Retailers Market 2023-2030 ($M) - Regional Industry Research
15.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Regional Industry Research
15.4 Demand in Online Retailers Market 2023-2030 ($M) - Regional Industry Research
16.South America Industry Environment Market 2023-2030 ($M)
16.1 Policy Market 2023-2030 ($M) - Regional Industry Research
16.2 Economics Market 2023-2030 ($M) - Regional Industry Research
16.3 Sociology Market 2023-2030 ($M) - Regional Industry Research
16.4 Technology Market 2023-2030 ($M) - Regional Industry Research
17.South America Spices and Stimulants Market by Type Market 2023-2030 ($M)
17.1 By Type Market 2023-2030 ($M) - Regional Industry Research
17.1.1 Spices Market 2023-2030 ($M)
17.1.2 Stimulants Market 2023-2030 ($M)
18.South America Major Companies List Market 2023-2030 ($M)
19.South America Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
19.1 McCormick Market 2023-2030 ($M) - Regional Industry Research
19.2 Olam International Market 2023-2030 ($M) - Regional Industry Research
19.3 Acomo Market 2023-2030 ($M) - Regional Industry Research
19.4 C. F. Sauer Company Market 2023-2030 ($M) - Regional Industry Research
19.5 EDF; Man Market 2023-2030 ($M) - Regional Industry Research
19.6 Fuchs Market 2023-2030 ($M) - Regional Industry Research
19.7 House Foods Group Market 2023-2030 ($M) - Regional Industry Research
19.8 Paulig Group Market 2023-2030 ($M) - Regional Industry Research
19.9 SB; Foods Market 2023-2030 ($M) - Regional Industry Research
19.10 Strauss Group Market 2023-2030 ($M) - Regional Industry Research
19.11 Vanns Spices Market 2023-2030 ($M) - Regional Industry Research
19.12 Wei Chuan Foods Market 2023-2030 ($M) - Regional Industry Research
20.South America Demand by End Market Market 2023-2030 ($M)
20.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Regional Industry Research
20.2 Demand in Independent Retailers Market 2023-2030 ($M) - Regional Industry Research
20.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Regional Industry Research
20.4 Demand in Online Retailers Market 2023-2030 ($M) - Regional Industry Research
21.Europe Industry Environment Market 2023-2030 ($M)
21.1 Policy Market 2023-2030 ($M) - Regional Industry Research
21.2 Economics Market 2023-2030 ($M) - Regional Industry Research
21.3 Sociology Market 2023-2030 ($M) - Regional Industry Research
21.4 Technology Market 2023-2030 ($M) - Regional Industry Research
22.Europe Spices and Stimulants Market by Type Market 2023-2030 ($M)
22.1 By Type Market 2023-2030 ($M) - Regional Industry Research
22.1.1 Spices Market 2023-2030 ($M)
22.1.2 Stimulants Market 2023-2030 ($M)
23.Europe Major Companies List Market 2023-2030 ($M)
24.Europe Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
24.1 McCormick Market 2023-2030 ($M) - Regional Industry Research
24.2 Olam International Market 2023-2030 ($M) - Regional Industry Research
24.3 Acomo Market 2023-2030 ($M) - Regional Industry Research
24.4 C. F. Sauer Company Market 2023-2030 ($M) - Regional Industry Research
24.5 EDF; Man Market 2023-2030 ($M) - Regional Industry Research
24.6 Fuchs Market 2023-2030 ($M) - Regional Industry Research
24.7 House Foods Group Market 2023-2030 ($M) - Regional Industry Research
24.8 Paulig Group Market 2023-2030 ($M) - Regional Industry Research
24.9 SB; Foods Market 2023-2030 ($M) - Regional Industry Research
24.10 Strauss Group Market 2023-2030 ($M) - Regional Industry Research
24.11 Vanns Spices Market 2023-2030 ($M) - Regional Industry Research
24.12 Wei Chuan Foods Market 2023-2030 ($M) - Regional Industry Research
25.Europe Demand by End Market Market 2023-2030 ($M)
25.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Regional Industry Research
25.2 Demand in Independent Retailers Market 2023-2030 ($M) - Regional Industry Research
25.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Regional Industry Research
25.4 Demand in Online Retailers Market 2023-2030 ($M) - Regional Industry Research
26.APAC Industry Environment Market 2023-2030 ($M)
26.1 Policy Market 2023-2030 ($M) - Regional Industry Research
26.2 Economics Market 2023-2030 ($M) - Regional Industry Research
26.3 Sociology Market 2023-2030 ($M) - Regional Industry Research
26.4 Technology Market 2023-2030 ($M) - Regional Industry Research
27.APAC Spices and Stimulants Market by Type Market 2023-2030 ($M)
27.1 By Type Market 2023-2030 ($M) - Regional Industry Research
27.1.1 Spices Market 2023-2030 ($M)
27.1.2 Stimulants Market 2023-2030 ($M)
28.APAC Major Companies List Market 2023-2030 ($M)
29.APAC Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
29.1 McCormick Market 2023-2030 ($M) - Regional Industry Research
29.2 Olam International Market 2023-2030 ($M) - Regional Industry Research
29.3 Acomo Market 2023-2030 ($M) - Regional Industry Research
29.4 C. F. Sauer Company Market 2023-2030 ($M) - Regional Industry Research
29.5 EDF; Man Market 2023-2030 ($M) - Regional Industry Research
29.6 Fuchs Market 2023-2030 ($M) - Regional Industry Research
29.7 House Foods Group Market 2023-2030 ($M) - Regional Industry Research
29.8 Paulig Group Market 2023-2030 ($M) - Regional Industry Research
29.9 SB; Foods Market 2023-2030 ($M) - Regional Industry Research
29.10 Strauss Group Market 2023-2030 ($M) - Regional Industry Research
29.11 Vanns Spices Market 2023-2030 ($M) - Regional Industry Research
29.12 Wei Chuan Foods Market 2023-2030 ($M) - Regional Industry Research
30.APAC Demand by End Market Market 2023-2030 ($M)
30.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Regional Industry Research
30.2 Demand in Independent Retailers Market 2023-2030 ($M) - Regional Industry Research
30.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Regional Industry Research
30.4 Demand in Online Retailers Market 2023-2030 ($M) - Regional Industry Research
31.MENA Industry Environment Market 2023-2030 ($M)
31.1 Policy Market 2023-2030 ($M) - Regional Industry Research
31.2 Economics Market 2023-2030 ($M) - Regional Industry Research
31.3 Sociology Market 2023-2030 ($M) - Regional Industry Research
31.4 Technology Market 2023-2030 ($M) - Regional Industry Research
32.MENA Spices and Stimulants Market by Type Market 2023-2030 ($M)
32.1 By Type Market 2023-2030 ($M) - Regional Industry Research
32.1.1 Spices Market 2023-2030 ($M)
32.1.2 Stimulants Market 2023-2030 ($M)
33.MENA Major Companies List Market 2023-2030 ($M)
34.MENA Spices and Stimulants Associated British Foods Market 2023-2030 ($M)
34.1 McCormick Market 2023-2030 ($M) - Regional Industry Research
34.2 Olam International Market 2023-2030 ($M) - Regional Industry Research
34.3 Acomo Market 2023-2030 ($M) - Regional Industry Research
34.4 C. F. Sauer Company Market 2023-2030 ($M) - Regional Industry Research
34.5 EDF; Man Market 2023-2030 ($M) - Regional Industry Research
34.6 Fuchs Market 2023-2030 ($M) - Regional Industry Research
34.7 House Foods Group Market 2023-2030 ($M) - Regional Industry Research
34.8 Paulig Group Market 2023-2030 ($M) - Regional Industry Research
34.9 SB; Foods Market 2023-2030 ($M) - Regional Industry Research
34.10 Strauss Group Market 2023-2030 ($M) - Regional Industry Research
34.11 Vanns Spices Market 2023-2030 ($M) - Regional Industry Research
34.12 Wei Chuan Foods Market 2023-2030 ($M) - Regional Industry Research
35.MENA Demand by End Market Market 2023-2030 ($M)
35.1 Demand in Supermarkets and Hypermarkets Market 2023-2030 ($M) - Regional Industry Research
35.2 Demand in Independent Retailers Market 2023-2030 ($M) - Regional Industry Research
35.3 Demand in Specialist Retailers Market 2023-2030 ($M) - Regional Industry Research
35.4 Demand in Online Retailers Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Global Spices And Stimulants Market Revenue, 2023-2030 ($M)2.Canada Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
3.Mexico Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
4.Brazil Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
5.Argentina Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
6.Peru Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
7.Colombia Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
8.Chile Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
9.Rest of South America Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
10.UK Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
11.Germany Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
12.France Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
13.Italy Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
14.Spain Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
15.Rest of Europe Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
16.China Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
17.India Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
18.Japan Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
19.South Korea Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
20.South Africa Global Spices And Stimulants Market Revenue, 2023-2030 ($M)
21.North America Global Spices And Stimulants By Application
22.South America Global Spices And Stimulants By Application
23.Europe Global Spices And Stimulants By Application
24.APAC Global Spices And Stimulants By Application
25.MENA Global Spices And Stimulants By Application