Global Spice Market Size, Shares, Segment & Forecast up to 2020

Spices are the ingredients used to enhance the taste and quality of food. It helps to improve the aroma of food and sustained the nutritional value of food. Spices are available in different forms like seed, fruit, root, bark, berry, bud or vegetable substance. Spices are also used for coloring or preserving food items. Some spices like turmeric are used as an antiseptic. Generally, spices used in food item are typically in dried form which leads to longest shelf life.
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The overall Spices Market is expected to grow at a fast pace, due to its rising demand for convenience foods. The main opportunity lies with spices is its application as natural preservative for meat and poultry which is expected to grow exponentially with growing food industry. The global spices demand has increased substantially over the past few years and is expected to rise especially in Asia Pacific region. The growing demand from industries such as confectionery, prepared food and bakery helps to drive the spices market. However, uncertain climatic conditions and stringent government regulations in spice manufacturing, in countries like Canada, U.K., France is expected to affect the growth of this market.
The report segments the spice market on the basis of product type, applications and geography. Major product segments covered in this report includes pepper, cumin, clove, cardamom, ginger and others. Frozen food, sauces, soups, meat, bakery, poultry food, convenience foods and others are the application segments of spice market.
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On the basis of the geography, the spice market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S., Germany, France, UK, China, Japan, India and Brazil. North America was the leading region of spice market followed by Europe and Asia Pacific.
In order to give the users of this report a comprehensive view on the spice market. The report includes detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the spice market has also been included. The study encompasses a market attractiveness analysis, wherein product type segments are benchmarked based on their market size, growth rate and general attractiveness.
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