Organic Spices Market is slated to register a CAGR of 7.3% over the forecast period over the forecast period.
The factors driving the growth of Organic Spices Market includes rising awareness amongst consumers about the harmful effects of pesticides and chemicals used for preparing spices, growing consumption of soups and snacks around the world, increase in the number of Free Trade Agreements (FTAs) signed between Governments of different countries and improvements in the living standards. Moreover, growing adoption of advanced technologies by manufacturers, turmeric helps in curing Alzheimer’s disease, joint pains, and cancer, increasing availability of organic spices at e-commerce platforms and rapid urbanization, are some of the additional factors supplementing the Organic Spices Market size. In addition, the rising investments by major corporations on research and development, increasing disposable incomes and growing population growth rates, are further contributing towards the market growth.
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However, growth of the Organic Spices Market is hindered attributed to high price margin of organic spices.
The prominent players operating in the market are Tierra Farm, McCormick & Company, Inc., Rocky Mountain Soap., Rapid Organic Pvt. Ltd., Yogi Botanicals, Live Organic, Starwest Botanicals, Salzhäus´l Himalaya-Kristallsalz GmbH, Organic Spices Inc., Frontier Co-op., and Spice Chain Corporation, among others.
Based on Application, the Commercial segment is predicted to capture the largest market share during the forecast period
Growing demand for fast foods items and increasing demand for organic species restaurants and food processing units, are some of the factors pushing segment’s growth.
Based on Distribution Channel, the Supermarkets/ Hypermarkets segment is projected to hold the highest market share over the forecast period
Supermarket offer wide range of organic spices products attractive discounts and offer free home delivery on certain orders, are some of the features propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Increase in the launch of innovative products, growing use of premium organic spices by restaurants, rapid urbanization, rising prevalence of Alzheimer’s disease and joint related pains and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Development
· In 2019, Tierra Farm completed the acquisition “Señor Sabor.” The company emphasized on offering organic spices, which eventually help Tierra Farm to launch an extension of products under their spice offerings.
Market Segmentation
Segmentation by Product
· Whole
· Powder
· Chopped/Crushed
Segmentation by Application
· Commercial
· Household
Segmentation by Distribution Channel
· Supermarkets/ Hypermarkets
· Convenience Store
· Online
Segmentation by Region
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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