Dried Spices Market Report 2024

The dried spices market size has grown strongly in recent years. It will grow from $9.74 billion in 2023 to $10.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth observed in the historical period can be attributed to several factors, increasing global demand for spices, expanding international trade, rising urbanization leading to greater consumption, growing health consciousness among consumers, and increased exportation of spices.

The dried spices market size is expected to see strong growth in the next few years. It will grow to $12.76 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. In the forecast period, growth is expected due to several factors, increasing demand for functional spices with health benefits, rising popularity of ethnic and regional spices, growing preference for organic and sustainable spice options, innovation in spice blends and mixes to cater to diverse culinary preferences, and interest in exotic spices for unique flavor experiences. Major trends anticipated in this period include the rise of functional spices offering health-promoting properties, the continued popularity of ethnic and regional spices reflecting cultural diversity, increasing consumer preference for organic and sustainable sourcing of spices, ongoing innovation in spice blends and mixes to meet evolving taste preferences, and the exploration and adoption of exotic spices to enhance culinary experiences.

The dried spices market is poised for growth driven by increasing demand for convenience food products. Convenience foods are pre-prepared for easy consumption, a trend fueled by factors such as rising health consciousness, higher disposable incomes, and a preference for ready-to-eat meals. Dried spices play a crucial role in enhancing the flavor and appeal of these convenient food options, making them more appealing to consumers seeking quick and flavorful meal solutions. For example, the United States Department of Agriculture reported in 2023 that the total value of processed food products exported from the US increased to $36.59 billion, reflecting a 1.7% rise compared to previous years. Hence, the escalating demand for convenience food products is stimulating growth in the dried spices market.

Leading companies in the dried spices market are focusing on innovation, particularly in eco-friendly dry spices, to cater to evolving consumer tastes and preferences. Eco-friendly dry spices are produced, packaged, and distributed with a strong emphasis on sustainability and minimal environmental impact. For instance, Unilever PLC launched Royco Spices in October 2023, a captivating line of dry seasonings designed to revolutionize culinary experiences. These spices are sourced from global suppliers, ensuring high-quality ingredients that enhance a wide range of tastes and cooking styles while maintaining freshness and potency for exceptional flavor enhancement.

In November 2022, Solina Group Ltd., a French manufacturer of food ingredients, acquired Saratoga Food Specialties, expanding its product offerings and market reach in the food industry. This acquisition enhances SOLINA's capabilities with Saratoga Food Specialties, a US-based company renowned for custom seasoning blends and flavor solutions.

Major companies operating in the dried spices market are Nestlé SA, The Kraft Heinz Company, McCormick & Company Inc, Firmenich SA, Sauer Brands Inc., Frontier Co-op, Dharampal Satyapal Group, EVEREST Food Products Pvt. Ltd., Bart Ingredients Company Ltd., Pacific Spice Company Inc., The Spice Hunter, Adams Extract & Spice LLC, Tony Chachere's Creole Foods, Red Monkey Foods Inc., Mahatma Dharma Hindu Pvt. Ltd., Penzeys Spices, The Spice House, Simply Organic, Badia Spices Inc., Zaika Foods, Knorr Foods Co. Ltd., Naturevibe Botanicals, Olam Group Limited, SB Foods Inc., Spiceology Inc., Spicely Organics.

Asia-Pacific was the largest region in the dried spices market in 2023. The regions covered in the dried spices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the dried spices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Dried spices are herbs, seeds, or roots that have been dehydrated to remove moisture, concentrating their flavor. They are essential for enhancing the taste, aroma, and color of food in cooking and seasoning. Dried spices are versatile ingredients used across a wide range of dishes, from savory to sweet, often blended to create intricate flavor profiles.

Key products in dried spices include pepper, ginger, cinnamon, cumin, turmeric, cardamom, cloves, nutmeg and mace, among others. Dried pepper spice, for instance, refers to dehydrated peppers used to impart flavor and spiciness to various dishes. These spices are available in natural and organic varieties, and come in forms such as powder, whole, and granules. They are distributed through hypermarkets, supermarkets, grocery stores, online platforms, and other channels, catering to end users including households, commercial kitchens, the food industry, cosmetic industry, and more.

The dried spices market research report is one of a series of new reports that provides dried spices market statistics, including dried spices industry global market size, regional shares, competitors with a dried spices market share, detailed dried spices market segments, market trends, and opportunities, and any further data you may need to thrive in the dried spices industry. This dried spices research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The dried spices market consists of sales of dried basil, oregano, thyme, rosemary, spice blends and seasoning mixes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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