Published By : 28 Apr 2016 | Published By : QYRESEARCH
The market for seasoning and spices is majorly fuelled by the changing demographics and the increasing globalization. In addition, the increasing income levels of consumers will also present new opportunities for the growth of the market. Furthermore, the shifting food habits of consumers within Asian countries is also predicted to increase the development of the market. Spices provide a number of medicinal benefits and this increases their demand globally, hence stimulating market growth.
The prime two growth trends seen in the market for seasoning and spices are:
On the other hand, in terms of value, Europe led the market in 2012 with a share of 35% and was trailed by the region of Asia Pacific with a share of 31% in the same year. The reason for the superiority of Asia Pacific is the high amount of consumption of spices and seasoning within this region, while Europe’s superiority is mainly owing to the increasing participation of Europe in spice imports.
Thus, the market is poised to rise in the coming years. However, the increasing regulations posed by governments in various nations which inhibit the export of certain spices may impede the growth of the overall market in forthcoming years.