South Asia Spices Export on Rise Owing to its Rich Long-Lasting Flavor & Immunity Boosting Properties: PMR

Apart from this, spices possess excellent properties for enhancing beauty. The ongoing trends of 'Clean Beauty' and 'Green Beauty' are compelling cosmetic manufacturers to include natural ingredients and create new formulations. Apart from this, spices possess excellent properties for enhancing beauty. The ongoing trends of 'Clean Beauty' and 'Green Beauty' are compelling cosmetic manufacturers to include natural ingredients and create new formulations. Latest developments in this...

Apart from this, spices possess excellent properties for enhancing beauty. The ongoing trends of 'Clean Beauty' and 'Green Beauty' are compelling cosmetic manufacturers to include natural ingredients and create new formulations.

Latest developments in this marketplace include:

In 2020, McCormick & Company, Inc. acquired 100% shares of FONA International, a global leader of natural and clean flavor providers, for use in various applications such as food, beverages, and nutritional products. The company also launched a new range of global organic seasonings under the brand 'McCormick Gourmet'.

In 2021, Olam International completely acquired Olde Thompson, a leading United States-based private-label spice and seasoning manufacturer. The acquisition will help the company in the expansion of its private label offerings. The company also acquired United States-based Mizkan America, Inc. in 2020 to fulfil consumer demand for Mexican spices and flavors.

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Key Takeaways from Market Study

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"Spices have numerous applications in food processing as well as beverages. However, their use in cosmetic products is also seen to be rising over the past few years, so as to formulate innovative products," says a Persistence Market Research analyst.

Competitive Landscape

The global spices market is dominated by the presence of a large number of manufacturers, but they are mostly region-specific. The market is highly fragmented, and thus, competition is expected to be intense as spices are not grown in every region and the market is more export-oriented.

Major spices producers are adopting strategies such as increasing existing production capacity and business expansion. With the recent trend of preference for healthy and nutritious food products, manufacturers provide higher quality spices to food & beverage manufacturers, and also other end-use industries.

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Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global spices market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.

The study offers compelling insights on the basis of type (cinnamon, cardamom, clove, nutmeg, chili, turmeric, cumin seeds, mustard, black pepper, fennel, coriander seeds, and others), nature (organic and conventional), form (whole, powder/granules, and oil), end use (food processing, beverages, foodservice, retail/household, and others), and distribution channel (business to business and business to consumer), across seven major regions of the world.

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