According to a new report, published by KBV research, The Global Dried Spices Market size is expected to reach $14.7 billion by 2030, rising at a market growth of 4.4 % CAGR during the forecast period. In the year 2022, the market attained a volume of 4,21,949.8 tonnes, experiencing a growth of 4.6% (2019-2022).
The Natural segment is registering a strong potential in the Global Dried Spices Market by Source in 2022 thereby achieving a market value of $11.7 billion by 2030. Consumers are becoming increasingly health-conscious, seeking natural and wholesome food alternatives. The natural segment in the dried spices market aligns with this trend, as it offers products that retain the inherent nutritional benefits of spices without adding artificial preservatives, colors, or flavors. Thus, these factors can assist in the growth of the segment.
The Granules segment is anticipated to have a CAGR of 5.2% during (2023 - 2030). Dried spice granules offer convenience and ease of use, catering to modern consumers' preferences who seek efficient solutions in their culinary endeavors. The granular form allows easy measurement, storage, and incorporation into various recipes, reducing preparation time and effort. Hence, these factors will lead to enhanced demand in the coming years.
The Food & Beverage Industry segment is leading the Global Dried Spices Market by Application in 2022 thereby, achieving a market value of $7.3 billion by 2030. The food and beverage industry is at the forefront of culinary innovation, constantly exploring and incorporating various dried spices to enhance flavor profiles. Chefs and food innovators are experimenting with unique spice blends, contributing to the market's growth as consumers seek diverse and exotic culinary experiences. Thus, these factors will boost the demand in the segment.
The Turmeric segment is experiencing a CAGR of 5.7% during (2023 - 2030). The increasing recognition and concern for health and wellness has brought turmeric to the forefront of public attention. Turmeric's active ingredient, curcumin, is linked to many advantageous health effects, such as antioxidant and anti-inflammatory properties. Turmeric has garnered considerable interest due to the increasing consumer focus on functional foods and its perceived ability to improve health. Therefore, these factors can boost the demand in the segment. Therefore, the segment will expand rapidly in the upcoming years.
Full Report: https://www.kbvresearch.com/dried-spices-market/
The Asia Pacific region dominated the Global Dried Spices Market by Region in 2022, thereby achieving a market value of $5.7 billion by 2030, growing at a CAGR of 4.8 % during the forecast period. The Europe region would witness a CAGR of 3.8% during (2023 - 2030). Additionally, The North America region is experiencing a CAGR of 4% during (2023 - 2030).
By Source (Volume, Tonnes, USD Billion, 2019-2030)
By Form (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Product Type (Volume, Tonnes, USD Billion, 2019-2030)
By Geography (Volume, Tonnes, USD Billion, 2019-2030)
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