Spices and Seasonings Market by Type, Application, Region- 2020

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MarketsandMarkets Presents
Spices and Seasonings Market- Forecast to 2020
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pices-market-739.html
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The report Spices and Seasonings Market by
Type, Application (Meat Poultry Products,
Snacks Convenience Food, Soups, Sauces, and
Dressings, Bakery Confectionery, Frozen
Products, Beverages, and Others), by Region -
Global Trends and Forecast to 2020. The overall
spices and seasonings market is expected to grow
from USD 11.02 billion in 2014 to USD 14.08
billion by 2020, at a CAGR of 5.2 from 2015 to
2020. The demand for spices and seasonings as key
ingredients in various cuisines is rising
globally, mainly due to changing dietary habits
of people and the rising demand for traditional
food products. Furthermore, factors such as the
rapidly increasing size of the global frozen and
convenience food industry are also expected to
increase the demand for spices and seasonings.
However, unfair trade practices such as
adulteration acts a restraint to the market
growth. Browse 108 market data Tables and 95
Figures spread through 186 Pages and in-depth TOC
on "Spices and Seasonings Market Global Trends
and Forecast to 2020 There is a growing
consciousness among consumers regarding foods
with high nutritional value, which are free from
chemicals preservatives, and microbiological
safety. Meat is an ideal medium for bacterial
growth because of its high moisture content,
richness in growth factors such as nitrogenous
compounds, and source of minerals vitamins.
Furthermore, its pH is favorable for the growth
of microorganisms. The years considered for the
study are as follows Base year 2014 Projected
year 2020 Forecast period 2015 - 2023 Download
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• Changing lifestyle to increase the demand for
  snacks convenience food products
• The market by application is led by snacks
  convenience food, in terms of growth rate.
  Changing dietary habits due to factors such as
  changing consumer lifestyle, increasing
  disposable income, and rising number of working
  women has led to an increased demand for packaged
  or convenience food items.
• Significant growth in the capsicum segment is
  observed in the Asia-Pacific region
• Capsicum is expected to grow at the highest rate
  during the forecast period. The extensive use of
  capsicum in various cuisines has increased the
  demand for capsicum globally. Furthermore,
  increasing health-consciousness among consumers
  has led to an increased demand for health and
  wellness products, which is expected to fuel the
  demand for capsicum owing to the multiple health
  benefits associated with it.
• Growing Demand for Convenience Foods and rapidly
  increasing urbanization and changing lifestyles
• According to FAO, rapid economic development,
  income growth, and urbanization are leading to
  changes in dietary patterns of people in
  Asia-Pacific. People are increasingly including
  traditional food items in their daily food
  intake. Moreover, growth in retail channels such
  as supermarkets and hypermarkets in urban areas
  is expected to increase the availability of
  spice, which in turn is projected to boost the
  demand for spices and seasonings.
• Increased use of spices and seasonings as natural
  preservatives in meat poultry products
• Meat preservatives restrict microbial activity
  and chemical physical reactions that cause
  deterioration and spoilage of meat meat
  products. Meat preservation works by lowering the
  amount of substances in meat that leads to
  proliferation of pathogens/microbes. 
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• Clean label a clear trend across global food
  markets
• Increasing consumption of healthy food products
  among modern consumers has led to increasing
  interest in the origin of the ingredients used to
  produce these products. Consumers prefer natural
  and clean-label flavors and ingredients as they
  are constantly looking for natural nutrition
  and are opting for products that incorporate
  inherently natural, fresh, wholesome, and
  balanced nutrition.
• Key Market Players
• Key players considered in the analysis of the
  spices and seasonings market are McCormick
  Company (U.S.), Associated British Foods (U.K.),
  Kerry Group Plc. (Ireland), Olam International
  Limited (Singapore), and Ajinomoto Co., Inc.
  (Japan). Other players that offer spices and
  seasonings include Ariake Japan Company (Japan),
  SHS Group (U.K.), Dohler Group (Germany), Worlee
  Gruppe (Germany), and Sensient Technologies
  (U.S.).
• Major Market Developments
• In September 2015, Ajinomoto Co., Inc. (Japan)
  strengthened its frozen foods business in North
  America by increasing its production capacity.
  This helped the organization to meet the
  increasing consumer demand for packaged frozen
  products.
• In December 2014, McCormick Company, Inc.
  (U.S.) launched 25 new flavor products for
  meeting the increasing demand for winter meals.
  The product line includes sauces, gluten-free
  recipe mixes, and seasoning blends.
• In August 2012, Associated British Food
  Ingredients (U.K.) expanded PGP Internationals
  business by building a new plant in Indiana, U.S.
  The new facility was aimed at expanding the
  companys production capacity and capability for
  specialty food ingredients and additives.
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