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Asia Pacific Seasonings Market will achieve over 4.5% CAGR over the forecast timeframe. India, China, and Indonesia are expected to observe a significant rise in demand for frozen food and meat product applications supported by the preference towards varied spices such as curry powder and other seasoning mixes. Also, increasing consumer spending on savory & snacking products available in diverse flavors has fueled the seasonings market growth. Further, Asia Pacific dominates the global spices production and hence the raw material is easily available.Cinnamon is projected to witness the fastest growth in seasonings market from 2018 to 2025. Cinnamon offers superior taste & aromatics and possesses several medicinal properties. Cinnamon has anti-inflammatory and anti-oxidant properties. The product reduces the risk of CHD by lowering the total cholesterol levels and has an anti-diabetic effect as is lowers the blood sugar levels. Rise in global cinnamon production to support the increased product demand will drive the industry development. Countries in Asia Pacific including Indonesia, China, and Vietnam are the leading manufacturers of the product, together accounting for around 90% of the global production.
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Savory applications will observe notable gains over the forecast timeframe. Increase in product demand with innovative flavors in savory snacks derived from potato, rice, wheat, and maize is escalating the business growth. The products including tortillas, potato chips, and baked snacks, and snack nuts dominate the seasonings market in savory applications. Factors such as rapid urbanization, and lifestyle changes has shifted the preference towards convenience food products.
Global Seasonings Market will cross USD 25 billion by 2025; according to a new research report by Global Market Insights, Inc. Strong outlook in meat, poultry, savory, and bakery applications will drive the seasonings market growth. Increasing demand for convenience foods owing to lifestyle changes accompanied by inclination towards grilled meat & poultry is escalating the demand for new seasoning mixes. Manufacturers are focusing on launching innovative flavors to cater the varied food & beverage applications. Also, the industry observes trends towards clean label and healthy products, thus replacing the use of artificial flavors by natural herbs & species.
Increasing consumer awareness on the health benefits of varied seasonings is propelling the industry growth. For instance, Cinnamon helps in lowering blood sugar levels, thereby offering an anti-diabetic effect. Also, curcumin, an active compound in turmeric, possesses anti-inflammatory and antioxidant properties, which can help in preventing heart-related diseases and cancer.
Rise in global trade levels of spices owing to changing taste preferences and rising health consciousness will support the business expansion. For instance, according to CBI EU, European the imports of spices and herbs from developing countries observed 6.6% CAGR from 2013 to 2017, representing over 90% of the EU import volume. Key factors such as the need for improved color and taste and increasing focus on organic products is generating new growth opportunities.
Pepper dominated the global seasonings market accounting over USD 4 billion in 2018. Countries in Asia Pacific including Indonesia, India and China together hold over 60% of the global pepper production. Pepper has a high content of essential vitamins and minerals including vitamin K, vitamin C, riboflavin, iron, copper, zinc, manganese, and thiamin. Also, anti-inflammatory, anti-oxidant nature of pepper is among the key aspects improving the product usage varied applications. Further, the ability to enhance the nutrient absorption will drive the business revenue.
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Contact Info:
Name: Arun Hegde
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/seasonings-market
Release ID: 509918
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