Asia Pacific to Continue as the Leading Consumer of the Global Seasonings and Spices Market - Market Share to Rise to 69% by 2019

2024-11-07 08:32:15 Lifestyle

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Transparency Market Research, a U.S.-based market intelligence company, states in its new research report on the global seasonings and spices market that the market will observe growth at a decent pace between 2013 and 2019. The market, which had a net value of US$12.7 billion in 2012, will grow at a 4.8% CAGR and reach US$16.6 billion by 2019. The report is titled "Seasonings and Spices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019?.The report examines the global market for seasonings and spices in great detail by analyzing the key elements of the market and presenting a comprehensive picture of the competitive landscape.

The report also highlights the fact that the global market for seasonings and spices is a market that survived rather profitably during the recent times of a global economic downturn. The simple fact that consumers prefer to buy ingredients and create in-house recipes than eat out during financial crunches has helped the market survive the tough times. The conditions do reverse when the economy is doing well, but seasonings and spices are such an integral part of every cuisine that these products hardly ever run out of demand.

Browse the full Seasonings and Spices Market report at : http://www.transparencymarketresearch.com/seasoning-spices-market.html

The report categorizes the market based on two key criteria ? types of products and key regional markets. Based on the criterion of product type, the market is segmented into four broad categories, namely salt and salt substitutes, herbs, pepper, and spices. Of these, the segments of salt and salt substitutes and pepper dominate the overall market, holding nearly 50% of the market collectively.The report states that the market for seasonings and spices is flourishing in regions such as Asia Pacific, North America, Europe, parts of Latin America, and the Rest of the World. While Asia Pacific is the traditional consumer of seasonings and spices, these products, especially various intense spices, have only recently started becoming popular in countries such as the U.S., U.K., and Spain. The report states that Asia Pacific is the most lucrative regional market for seasonings and spices. The market observed a demand rise from 409.4 million kg in 2008 to nearly 511 million kg for a variety of seasonings and spices in 2012.

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The market for seasonings and spices in Europe is expected to rise to US$5,723.3 million by 2019. Traditionally, India has been one of the most extensive producers and consumers of seasonings and spices. Lately, changing food choices of consumers, rising popularity of foreign cuisines such as Italian and French, heightened health awareness amongst the global population, and the use of certain spices and herbs for medicinal purposes have led to increased demand for a variety of seasonings and spices across the globe.As of 2012, Asia Pacific accounted for nearly 66% of the overall volume of seasonings and spices consumed across the globe. Its share is expected to observe a rise to nearly 69% by 2010. Despite this, Europe stood as the leading market with a 35% share in the market in 2012, in terms of value. In the same year, Asia Pacific held a 31% share of the global market by value. Some of the key businesses profiled in the report are Nestle, Catch, Everest Spices, MDH Spices, Kraft Foods, Knorr, and McCormick & Company.

Key segments of the global Seasonings and Spices Market:

Seasonings and spices: Segmentation by product
Pepper
Salt and salt substitutes,
Spices,
Herbs
Major geographies analyzed under this research report are:
Europe
North America
Asia-Pacific
Rest of the World

Browse the full Press Release:http://www.transparencymarketresearch.com/pressrelease/food-certification-market.htm