The global seasoning & spices market was valued at USD 13,772.7 million  in  2019  and  is  expected  to  grow  with a  CAGR of 6.3%  from 2020  to  2027.  The  market  is  anticipated  to  reach  a  value  of  USD 22,457.2 million by 2027. Changing lifestyle due to greater economic participation from all sections of society has been attributed as the major driving factor for this growth. The demand for spices is likely to witness a CAGR of 6.5% during the forecast  period  owing  to  shifting  consumer  preference  towards consumption  pattern,  increasing  urbanization  with  rising  income levels,  and  altering  food  experiences,  demographics,  and  social factors.   The   global   productivity   scenario   has   also   witnessed  a massive  shift  in  line  with  consumption  pattern,  wherein,  newer culinary experiences are one of the primary growth stimulants. In terms of application, meat & poultry products are likely to exhibit a CAGR  of  6.8%  over  the  period  of  2020  to  2027  owing  to  high consumer demand and changing tastes & preferences. The segment is  largely driven  by higher income  levels, ongoing urbanization,  and growing  dependence  on  meat  to  facilitate  protein  intake  in  regular diets. Asia Pacific dominated the market, accounting for 35.0% of the global revenue in 2019. The region comprises India, Indonesia, China, and Vietnam, which are some of the leading producers and exporters of spices and herbs. Asia Pacific has the largest population in the world and has been witnessing impressive growth in the demand for spices and seasonings.

Spices have  been  witnessing a remarkable demand from  commercial and household sectors, not only due to their taste and flavor but also from the association of health benefits with them. A large number of  spices  have  antioxidant  properties  and  are  also  useful  in  treating  several  diseases  and  health problems. For instance, turmeric is a rich source of antioxidants, and helps in preventing illnesses such as Alzheimer’s, joint inflammation, and cancer. Similarly, cumin seeds contain antiseptic characteristics and help in boosting the immune system. These can be used as alternatives for medicinal and beauty products. Black pepper powder is often used to treat upset stomach, bronchitis, and cold. Sometimes, it is directly applied to the skin for curing skin diseases such as scabies, and nerve pain (neuralgia). These properties associated  with  the  product  have  increased  its  application  in  the  preparation  of  numerous  medicines. Furthermore, as medicinal properties of spices are supported by various scientific studies, consumers’ interest in spices has been increasing over the world. In addition, seasoning and spice firms have been promoting these products by focusing on their medicinal properties.