Global Blended Spices Market is valued at approximately USD 20.23 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2022-2029. To add an aromatic flavor to everyday cooking, blended spices are a combination of several herbs and spices in exact proportions. Many different plant components, including flowers, barks, seeds, leaves, fruits, buds, and roots, are used to make blended spices. Blended spices are a combination of two or more spices and are required for the preparation of numerous intricate dishes. The use of blended spices in exotic cuisines has increased with the rise in packaged food consumption, fueling the market's expansion.
According to Statista, in the year 2018 the total sales of packed food reached USD 2,578.9 billion which increased to USD 2644.1 billion in the year 2019. Thus, rising sales of packaged food is catering to the growth of the market. Additionally, increased consumer awareness of health benefits has increased the overall consumer base for blended spices. Overconsumption of blended spices has been shown to negatively affect one's health. In addition to causing problems with digestion, spicy food may hamper the growth of market. As a result, the negative effects of consuming too much spice prevent the market from expanding in terms of value sales. Due to their health advantages, some blended spices are in high demand among consumers, which presents market participants with plenty of potential.
The key regions considered for the Global Blended Spices Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the space in terms of revenue, owing to the dominance of branded species, and high consumer base in the region. North America is expected to grow significantly during the forecast period, owing to factors such as adoption of ready meals, and geographic expansion of key players, in the market space.
Major market players included in this report are:
Badia Spices, Inc.
Mahashian Di Hatti Private Limited
Shan Foods (Pvt.) Ltd.
McCormick & Company, Incorporated
Everest Food Products Pvt. Ltd.
World of Spice Ltd.
MTR Foods Pvt Ltd.
Recent Developments in the Market:
In February 2022, DPGC announced the launch of a new range of new-age blended spices, exotic, spicy, and tangy blended spices
In Aug 2021, FONA International, a manufacturer of natural and clean flavours, was fully acquired by McCormick. The expansion of the flavour solutions segment into appealing categories, the expansion of FONA's technological platform, and the strengthening of its capabilities all contribute to the acquisition's strengthening of McCormick's worldwide growth plan. The acquisition would also accelerate the strategic transition of the line to more sophisticated and technologically advanced items, which is projected to increase profit.
Global Blended Spices Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Type, Distribution Channel, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
5 Chinese Spices
By Distribution Channel:
Rest of the World