Organic Spice Industry is set to register around 8% CAGR through 2027 propelled by rising popularity of exotic and natural ingredients in food preparation.
Selbyville, Delaware, Jan. 25, 2022 (GLOBE NEWSWIRE) --
The organic spice market revenue is poised to exceed USD 55.7 billion by 2027, according to a new research report by Global Market Insights Inc. owing to the rising popularity of natural and exotic ingredients in food making due to their long-lasting aromatic properties.
Organic spice industry from turmeric is expected to surpass USD 3.5 billion by 2027 growing at a CAGR of over 8% attributed to its multiple health benefits. Turmeric has multiple medical properties such as it contains bioactive compounds and has natural anti-inflammatory compounds. Therefore, these medical properties of turmeric have led to an increase in its demand in various food products among consumers, owing to shifting consumer preference towards a healthy diet.
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Some major findings of the organic spice market report include:
Culinary application segment accounted for the highest share of over 25% in 2020 and anticipated to hold strong share in the coming years as well, owing to the growing HoReCa industry around the world.
Snacks & convenience foods application segment exceeded USD 6.5 billion in 2020 and anticipated to witness a lucrative CAGR over the forthcoming years owing to change in consumer eating habits and busy lifestyle.
Chili organic spice industry is expected to register around 10% CAGR over the projected period due to growing encouragement by various organizations and boards to farmers for the adoption of organic farming.
Asia Pacific market surpassed USD 14 billion in 2020 and is set to register over 8.5% CAGR up to 2027. As Asia Pacific region is one of the large producers and consumer of spices in the world.
Browse key industry insights spread across 200 pages with 166 market data tables and 23 figures & charts from the report, “Organic Spice Market Statistics By Product (Chili, Ginger, Turmeric, Garlic, Coriander/ Cilantro, Nutmeg & Mace), Application (Culinary, Meat & Poultry Products, Sauces & Dips, Snacks & Convenience Foods, Soups & Noodles, Ready To Eat Meals), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Europe organic spice market exceeded USD 6 billion in 2020 and is projected to register a lucrative CAGR of around 8.5% in the coming years. Increasing inclination towards organic and natural food products should drive industry expansion in the region. Fast-paced life along with inactive lifestyles is the main cause of many diseases which led in shift of consumers towards healthy eating habits.
Furthermore, Europe is a dominating the overall market owing to rising demand of organic products, as the conventional spices are treated with harmful chemicals and cause harmful effects to human health. Also, the conventional spices are banned in Europe which supports the product demand.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/organic-spice-market
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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