[FURL=https://www.industryarc.com/Research/Organic-Spices-Market-Research-507294?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Organic Spices Market[/FURL] The Organic Spices market size is estimated to reach $3.8 billion by 2026, growing at a CAGR of 5.3% during the forecast period 2021-2026. Spices are primarily used for the flavoring or coloring of food products even though they are also extensively used in traditional medicine, perfumes, cosmetics, and religious events. Some of the commonly used spices include mustard seeds, pink peppercorn, black pepper, nutmeg, Ceylon cinnamon powder, turmeric, and saffron. Apart from improving food color and taste, spices are also highly beneficial for health. For instance, flax seeds are crushed to make flaxseed powder and that can be used to prevent constipation, diabetes, heart disease, and cholesterol.Key Takeaways
Geographically, the Asia Pacific market accounted for the largest Organic Spices Market share in 2020 and it is poised to dominate the market over the period 2021-2026 owing to the low cost of organic spice products along with the high usage of spices in traditional meals in the region.
An increase in health awareness and the demand for organic products by consumers is projected to drive the market. However, high production costs and low yield of organic spices when compared to conventional spices are anticipated to hamper growth opportunities.
Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Organic Spices Market Report.
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Organic Spices Market Segment Analysis - By Geography
The Organic Spices Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. The Asia Pacific was the largest segment in 2020 with a revenue share of 38%. The warm climate coupled with heavy rainfall experienced in parts of the region provide optimal conditions for the cultivation of spice plants. This ensures that the products are available in the region at low cost and high quantities. Asia Pacific countries such as India, China, Bangladesh, and Pakistan are some of the largest producers of organic spices in the world. The extensive use of spices in the traditional meals in the region is another major factor for the growth.
Organic Spices Market Drivers
Increase in Global Demand for Organic Food Products is Projected to Drive Market Growth.
Rise in the Use of Organic Spices in Pharmaceutical Applications is Anticipated to Boost Product Demand.
Organic Spices Market Industry Outlook:
Top 10 companies in of the industry are PDS Organic Spices, Olam International Ltd., Kalsec Inc., ITC Limited, The Watkins Co., S&B Foods Inc., The C.F. Sauer Company, Husarich GmbH, Rapid Organic Pvt. Ltd., McCormick & Company
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