Blended Spices Market is Segmented By Typ(Garam Masala, Berbere, 5 Chinese Spices, Shichimi Togarashi, Others), By Distribution channe(B2B, B2C), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Market Overview
Blended Spices Market is expected to reach at a CAGR of 5.2% during the forecast period (2024-2031)
Blended spices combine various herbs and spices in proportions to add an aromatic flavor to everyday cooking. Numerous plant components produce blended spices, including flowers, barks, seeds, leaves, fruits, buds, and roots. Global Blended Spices Market is expected to grow in the forecast period as blended spices in exotic cuisines have increased with the rise in packaged food consumption. Natural flavoring, organic foods, and secure dietary supplements are the three main drivers of the rising demand for blended spices. Due to their suitability for a wide range of applications, including savory snacks and prepared meals, blended spices have increased in popularity among various demographic groups in the area.
Market Summary
| Metrics | Details |
| Market CAGR | 5.2% |
| Segments Covered | By Type, By Distribution Channel, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | North America |
| Largest Market Share | Asia Pacific |
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Market Dynamics
Increasing urbanization and altering lifestyles fuels the market growth
The global market for blended spices is anticipated to be driven by urbanization. As of 2021, 4.46 billion people live in urban areas, and 3.42 billion live in rural areas globally. The world's urban population has grown rapidly from 751 million in 1950 to 4.46 billion in 2021 and will grow to 6.68 billion by 2050, adding about 2.22 billion people to urban areas. According to FAO, the rapid economic growth, income growth, and urbanization of people in Asia are changing their dietary habits. Traditional foods are becoming a bigger part of people's daily diets. Expanding retail outlets in urban areas like supermarkets and hypermarkets is anticipated to increase the supply of spices, which is anticipated to increase the demand for spices. The lifestyle of the consumer has changed as a result of urbanization. The amount of time spent cooking has decreased due to increased employment opportunities, rising disposable income, and an increase in the number of working women. People are searching for quick ways to eat without spending a lot of time cooking due to long workdays and hectic schedules.
However, excessive spice consumption was found to harm health. The digestive system is arguably the most common side effect of spicy food, limiting the market growth.
Market Segmentation Analysis
B2B segment accounted for the highest share in global high blended spices market
The B2B sector had the largest revenue share and is anticipated to control the market during the forecast period. B2B distribution enables companies to establish sincere connections with the people who use their products. Furthermore, by interacting with customers through these fulfillment services, brands have the chance to gain their loyalty and trust. Most consumers value the chance to communicate directly with a product's makers.
On the other hand, the B2C segment is anticipated to experience a sizable CAGR of XX%. The primary benefits of indirect distribution to the customer are convenience and speed. B2C sales channels enable businesses to enter new markets quickly and easily, frequently with little initial risk and expense. Additionally, most businesses can reach a sizable customer base without worrying about attracting customers to the door. B2C sales, which tap into a new customer base, can be a huge acceleration for businesses.
Market Geographical Share
Asia Pacific is the dominating region during the forecast period
The Asia Pacific is projected to be the dominating region due to the increased advertising and sales efforts, the emergence of numerous indigenous spice businesses, and rising consumption of blended spices in the region due to rising disposable income. As a result, the region is one of the top exporters of spices in the world. Most spices are grown in nations like India, Vietnam, China, and Thailand. Market globalization and migration have changed consumer food preferences, opening up new opportunities for restaurants to add various blended spices to their menus. Since some market participants operate in multiple locations and have devoted clientele, they fiercely compete with one another. Additionally, increasing competition is the presence of numerous small-scale players.
On the other hand, North America is expected to grow over the forecast period at the fastest CAGR, XX%. Since blended spices are useful in various applications, including savory snacks and ready meals, many major manufacturers have introduced various blends that many demographic groups demand. Additionally, it is anticipated that the market in this region will be driven by consumers' propensity to purchase healthier products that offer convenience and a wide range of flavor options.
Companies and Competitive Landscape:
There are several established participants in the industry and local manufacturers; hence, the market is fragmented. Some major key players include MTR Foods Pvt Ltd, World of Spice Ltd., Everest Food Products Pvt. Ltd., McCormick & Company, Incorporated., Shan Foods (Pvt.) Mahashian Di Hatti Private Limited, Badia Spices, Inc., Empresas Tajín Tony Chachere's, and Spices, Inc., among others. Players are concentrating on improving the taste and quality of blended spices to appeal to health-conscious consumers to stay competitive in the market. For instance, on 10th May 2022, A well-known company in the Indian spice business, Jhaveri Spices Pvt Ltd, introduced several mouthwatering flavors, including Rajashahi Garam Masala, Kitchen King Masala, and Pav Bhaji Masala. These distinctive blends feature cutting-edge package designs, extremely high-quality ingredients, delectable tastes, and custom blends in a sustainable, nature-respecting environment. The brand hopes to increase its customer base and reach across all nations in the upcoming years. On the other hand, on 20th July 2022, Mantra Spices, a line of blended powder spices and flavor enhancers, was introduced by Emami Agrotech, the branded food manufacturing division of the diverse Emami Group.
COVID-19 Impact on Market
Positive impact on the global blended spices market
Since the COVID-19 pandemic started, the demand for blended spices has increased. There is a high demand for spices with immune-boosting properties like turmeric, ginger, and garlic. Although these spices had higher retail prices, demand did not decrease. Industry sources claim that the demand for ginger and turmeric in food supplements increased by 300%. The Spices Board of India reports that the volume and value of spice exports have seen significant growth. In the last five years, blended spice exports have grown significantly, and India now holds a commanding position in the global spice trade. Globalization has increased people's awareness of various flavors from around the world and the nutritional advantages of blended spices, which has led to an increase in their consumption on the international market. Due to their ease in producing a variety of flavors, blended spices are highly sought after on the market.
The global blended spices market report would provide an access to approximately 61 market data tables, 57 figures and 170 pages
