Monday, September 3, 2007

World Spices and Seasonings Market to Reach 4,094 Million Pounds by 2010, According to New Report by Global Industry Analysts

World Spices and Seasonings Market to Reach 4,094 Million Pounds by 2010, According to New Report by Global Industry Analysts

Driven by the growing popularity of exotic ethnic cuisines, and innovations in blended spices, and flavors with low fat ingredients, the world spices and seasonings market is projected to reach 4,094 million pounds by the year 2010. Being an integral part of cooking, ready-to-use ground, powdered, and blended spices, and seasonings are expected to drive future growth, given the modern time crunched consumers' need for easy, time saving yet flavorful cooking solutions.

San Jose, California (PRWEB) February 25, 2008

The world spices and seasonings market (http://www. strategyr. com/Spices_and_Seasonings_Market_Report. asp) stands enthused by the ethnic diversity in food consumption habits. Driven by the influx of immigrants into most countries, and the resultant widespread establishment of ethnic food stores to serve communities of immigrants, consumer familiarity with most new cuisines is on the rise. This is expected to result in increased demand for new exotic flavors, and spices. With consumer preferences inclining towards hotter, spicy and more pungent-flavored foods, demand for spices and seasonings is forecast to proportionately rise in the upcoming years. In the United States, for example, hotter, crispier and sharper flavors are growing in popularity, and bold, spicy flavors like red peppers, chili, paprika, and ginger, are scoring huge gains in the marketplace. Consumption of red pepper, and ginger, in the United States, grew by an exorbitant 235% and 657% respectively, in comparison to other spices such as coriander, cardamon, and cumin. The trend brings to fore, the rising sophistication of the American palate, and the growing willingness to experiment with adventurous flavors, and seasonings. Few of the hottest innovations in the market include –- a blend of chilli, and lime seasonings, garlic bread seasoning combined with red pepper, paprika, cayenne pepper, cumin and ginger, lemon pepper seasoning blended with coriander, black pepper, and habanero chilies.

The health and nutritional concerns of modern consumers are bringing organic spices into the limelight. Certified organic spices, which are grown without the use of pesticides, herbicides and dangerous fumigants are experiencing increased demand in the marketplace. On par with organic spices, sugar-free spice blends and chemical-free seasonings are also growing in popularity. Given, the growing trend towards labeling the nutritional value of spices on product packaging, manufacturers are confronted with the challenge to eliminate the fat, and carbohydrate content of spices and seasonings while simultaneously retaining its pristine flavor, and taste. Demand growth, in the global market, is forecast to rapidly transcend from the premium market to the mass-market strata, with seasoning blends that enable novice home cooks to imitate their favorite flavors of restaurant served dishes scoring the highest gains. "Pairing of Spices" is gathering momentum in the international market, encouraged largely by manufacturers' attempts to popularize bigger and bolder flavors by offering spices, herbs and extracts in assorted combinations. For instance, savory flavors are being used in sweet products i. e. rosemary with its sweet fresh aroma is used to complement citrus foods, while the minty taste of thyme is used to enhance the flavor of desserts. Vanilla's delicate aromatic flavor is being used to spice up food dishes ranging from seafood to salads.

As stated by the recent report published by Global Industry Analysts, Inc., the United States, and Europe dominate the world market for spices and seasonings, with a combined share of 56.2% estimated in the year 2007. Growth is expected to stem from Asia-Pacific, with a projected CAGR of 3.6% over the period 2001 through 2010. Spices and seasonings market in Japan and Canada, together, is expected to rise by 56.8 million pounds between the period 2007 through 2010. In Europe, Germany, ranks as the single largest individual market, after Eastern Europe. Spain, a noteworthy market, sales of spices and seasonings are poised to rise by 10.8% between the period 2007 to 2010. In the United States, volume sales in the dehydrated onion/garlic market (http://www. strategyr. com/Spices_and_Seasonings_Market_Report. asp) are expected to rise by 50.5 million pounds between the period 2007 to 2010. For the same period, sales of white pepper, and oregano, together, are expected to rise by 10.3%. In the poppy seed market (http://www. strategyr. com/Spices_and_Seasonings_Market_Report. asp), sales are projected to reach 15.8 million pounds by the year 2010.

Leading global, and regional players operating in the industry include Ajinomoto, Ariake Japan, Bart Spices, British Pepper & Spice Co., Ltd., B&G Foods Inc., Char Crust Inc., CaJohns Fiery Foods, Frontier Natural Products Co-op., Golden West Specialty Foods, Goya Foods, Griffith Laboratories, Italpepe SRL, Jiangsu Wujin Dongxu Food Co., Ltd., Lion Foods Limited, Old World Spices & Seasonings, and McCormick & Co. Inc., among others.

The report titled "Spices and Seasonings: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Product markets in the United States analyzed include Dehydrated onion/garlic, Mustard seed, Red pepper (except Paprika), Sesame seed, Black pepper, Paprika, Cinnamon, Cumin seed, White pepper, Oregano, Poppy seed, and Ginger. Latent demand patterns for spices and seasonings are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Italy, Spain, Russia, Asia-Pacific, Middle East, and Latin America. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.

For more details about this research report, please visit http://www. strategyr. com/Spices_and_Seasonings_Market_Report. asp (http://www. strategyr. com/Spices_and_Seasonings_Market_Report. asp)

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR. com
Web Site www. StrategyR. com