Dried Spices Market Expected to Reach $16.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Dried Spices Market," The dried spices market was valued at $10.7 billion in 2022, and is estimated to reach $16.6 billion by 2032, growing at a CAGR of 4.6% from 2023 to 2032.

Dried spices undergo a dehydration process to eliminate their moisture content. This dehydration procedure helps in maintaining the taste, fragrance, and shelf life of the spices for an extended period. Dehydration of spices can be achieved through different techniques, such as natural drying, sunlight drying, or employing specific dehydrating processes. After the moisture is removed, the resulting dried spices possess a more intense flavor, enhancing their convenience for storage and utilization in various applications.  

Dried spices have evolved into essential ingredients in kitchens and the global food industry, playing a major role in improving the flavor profile of diverse cuisines and dishes. The worldwide demand for dried spices has increased, boosted by shifting culinary preferences, the expanding globalization of food culture, and rising awareness of the health advantages linked to spice consumption. Increase in desire for convenient cooking solutions along with authentic taste and high-quality spices actively contribute to the rapid growth of the dried spices market size.  

The dried spices market has experienced significant growth driven by the increasing awareness regarding the health benefits associated with spice consumption. Dried spices, including turmeric, cinnamon, and ginger, are recognized for their antioxidant properties, anti-inflammatory effects, and positive impacts on digestive health. These health-promoting attributes match well with the health-conscious consumers seeking functional food, thus driving the demand for dried spices market share in recent times. The demand is further fueled by the rising trend of weight management, blood sugar regulation, and immune system support, with spices such as garlic and cayenne pepper playing a role in these areas. The nutrient density of dried spices, coupled with their ability to enhance the flavor profile of dishes with minimal calories, appeals to the health and wellness preferences of consumers. As a result, the dried spices market has witnessed rapid growth as consumers increasingly prioritize health benefits in their food choices, creating numerous opportunities for businesses in the dried spices industry. 

In addition, dried spices have become an integral part of the cooking experience that is driven by an increase in remote work and home-based culinary activities, thus setting Dried Spices Market Trends. The convenience of working from home has allowed individuals to invest more time and effort in preparing meals, which has led to a growing interest in diverse and flavorful home-cooked dishes. Thus, dried spices play a pivotal role, offering a convenient and versatile solution to enhance the taste of homemade meals. The easy accessibility of dried spices makes them a preferred choice for individuals seeking to enjoy their cooking without extensive preparation. Moreover, the desire for unique and authentic flavors aligns with the global exploration of various cuisines, a trend supported by the availability of international recipes and cooking inspirations on social media. The increased demand for dried spices reflects changing food preferences and lifestyle choices brought about by the work-from-home trend. As individuals find fulfillment in preparing delicious meals within the comfort of their homes, the dried spices market has experienced a significant surge in recent years.  

Although the dried spices market has expanded rapidly, the market still faces certain challenges owing to the presence of counterfeit products and color-added products, which may hamper the market demand during the Dried Spices Market Analysis. Counterfeit spices may imitate popular brands or types of dried spices, misleading consumers about the authenticity and quality of the product. These counterfeit items may contain substandard or unrelated ingredients, posing health risks and eroding consumer trust. In some cases, artificial colors are added to dried spices to enhance visual appeal or mask quality issues, which hampers the market. The use of such additives is a concern for consumers seeking natural and unadulterated products. The presence of undisclosed ingredients, including artificial colors, can have implications for consumer health. Some individuals may have allergies or sensitivities to certain additives, making it crucial for accurate labeling. Thus, all the above factors may hinder the market growth of the global dried spices market.  

The growth in demand for organic spices products has created numerous opportunities for the market players in the dried spices market in recent times. According to the results released by the U.S. Department of Agriculture’s National Agricultural Statistics Service (NASS), the 2021 Organic Survey indicates total sales of $11.2 billion in organic products, reflecting a $1.28 billion, or 13%, increase from 2019. Moreover, the perception of organic dried spices as healthier options has gained significant recognition among consumers owing to their cultivation without the utilization of artificial pesticides, fertilizers, or genetically modified organisms (GMOs). Furthermore, governmental and regulatory bodies across different regions are actively endorsing and supporting the adoption of organic farming practices. This is expected to provide dried spices manufacturers with a favorable regulatory environment for the production and marketing of organic dried spices and create number of growth prospects during the Dried Spices Market Forecast. Thus, compliance with organic certifications by the key players in the dried spices market is expected to enhance the credibility of products in the eyes of consumers, thus driving the dried spices market growth in the coming years. 

The dried spices market is analyzed on the basis of source, product type, form, application, and region. By source, the market is bifurcated into natural and organic. By product type, the market is segmented into pepper, ginger, cinnamon, cumin, turmeric, cardamom, cloves, nutmeg mace, and others. Depending on form, it is classified into powder, granules, and whole. By application, the market is divided into the food and beverage industry, foodservice industry, and retail. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Vietnam, and the rest of Asia-Pacific), Latin America (Brazil, Colombia, Argentina, and the rest of Latin America), and Middle East and Africa (GCC, South Africa, North Africa, and the rest of MEA). 

The major players operating in the global dried spices market are Everest Food Products Pvt. Ltd., McCormick & Company, Inc., Bart Ingredients Company Ltd., DS Group, Firmenich SA, Olam Group Limited, The Spice House, Simply Organic, Sauer Brands, and Frontier Co-op.  

KEY FINDINGS OF STUDY 

• By source, the natural segment was the highest revenue contributor to the market in 2022. 

• As per product type, the turmeric segment is expected to be the fastest-growing segment in the global dried spices market during the forecast period.  

• By form, the powder segment was the largest segment in 2022. 

• Depending on application, the food and beverage industry segment was the largest segment in 2022. 

• Region-wise, Asia-Pacific was the highest revenue contributor in 2022 and is expected to create Dried Spices Market Opportunities.