Organic Spices Market – Overview
Due to the increasing demand of natural flavoring agent the market is growing at an incremental pace of development on the global stage. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on Global Organic Spices Market Research Report- Forecast to 2022 that the Organic Spices market will demonstrate an exceptional CAGR.
Organic Spices Market is projected to reach 5,981 kilo tons by 2022, growing at a CAGR of 4.89% from 2016 to 2022.
The world demand for organically produced foods is growing rapidly in developed countries like Europe, U.S., Japan and Australia which is influencing higher demand for organic spices. Spices are essential part of foods and beverages. Consumers are preferring organic spices over ordinary spices as part of their healthy diet. Many convenience food manufacturing companies have started using organic spices in their food to provide value addition and to make product differentiation from their competitors. This factor is playing key role to drive sales of organic spices. Increasing consumer demand for healthy and organic foods is convincing more retailers to add organic food to their mix.
Increasing importance of spices for various flavors in foods and medicinal properties has resulted in higher demand for spices. On the other hand, rising awareness for food safety related to pesticide residues in spices and related health hazards has triggered higher demand or organic spices. Demand for organic foods has been slower due to reluctance among farmers to shift from traditional methods of farming to organic farming. Change in food trends and adoption of various international food forms encouraging spices consumption in raw form further encourages demand for organic spices.
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Latest Industry Updates
- Dec 2017 Manarcadu Social Service Society located in Kerla, India launches organic, dry fruits brand related to fruits and juice. MASS was instrumental in empowering farmers to achieve organic certification and export their produce including spices, coffee and cocoa to Europe, keeping Fairtrade and organic standards.
- Nov 2017 San Francisco Equity Partners’ Portfolio Company Red Monkey Foods Acquires San Francisco Salt Company. Red Monkey Foods is a leading provider of premium store brand organic spices and seasonings.
- Jan 2016 IFC to invest in agri-commodity firm Olam to expand in India, Nigeria. Singapore-based commodities company Olam International Ltd is raising $175 million from International Finance Corp, the company has taken loan from World Bank, to finance its projects in India and Nigeria. The part of funding will be also used to upgrade Organic Spices and sugar facilities in Maharashtra and Kerla in India.
- Sep 2017 Spices export including organic spices in India rises 35% in first quarter of 2017. Garlic has registered the maximum growth in terms of volume and value. It contributed significantly to the overall exports during the period, rising more than 150 per cent in volume. Fennel registered a growth of 92 per cent in terms of volume. The exports of other seed Spices such as mustard, aniseed and dill seed grew by 83 per cent in terms of volume.
Organic Spices Market – Competitive Analysis
Due to complex certification process, the product launch in the organic spices market has been limited. During the period 2010-2016, two companies have launched their products with one product each by Frontier Natural Products and Starwest botanicals Inc. Major companies are investing into R&D in the organic spices market to sustain competitive advantage. Efforts have been taken to develop the necessary infrastructure for continued growth in the market. Among the major players in the market, Frontier Natural Products, Rapid Organic and Simply Organic have invested considerably in the organic spices market.
The leading market players in the global organic spices market primarily are Organic Spices (U.S.), Frontier Natural Products (Norway), Rapid Organic (India), SOAP (Sapthsathi Organic Agriculture Project) (India), Simply Organic (Norway), Earthen Delight (India), Yogi Botanicals Pvt Ltd (India), Live Organics Pvt Ltd (India), The Spice Hunter, Inc. (U.S.) And Starwest botanicals Inc. (U.S.)
Organic Spices Market – Segments
The global Organic Spices market has been divided into type, function, form, application and region.
- On The Basis Of Type: Turmeric, Chili, Pepper, Cumin, Garlic, Ginger, Clove, Cinnamon, Nutmeg, Saffron and Others
- On The Basis Of Function: Flavor, Color, and Preservative
- On The Basis Of Form: Seeds, Whole, Ground/Powder, Crushed/Chopped, Roots, Minced, Flakes
- On The Basis Of Application: Culinary, Meat & Poultry Products, Sauces and Dips, Snacks & Convenience Foods, Soups and Noodles
- On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
Organic Spices Market – Regional Analysis
Asia-Pacific region is estimated to dominate the market with 81% in the year 2016 followed by North America with 9% share. India, China and Vietnam are major organic spice producers in the Asia-Pacific region. Presence of various agro-climatic zones and seasons support various organic spices production in this region. Guatemala and Mexico are major organic spices market in the North-American region. Strong potential of spices production and consumption favors organic spices market growth the most among the various regions in the world. India is the major producer, consumer and exporter of spices in the world. India has wide variety of spices due to different agro-climatic conditions and soil types. Hence, India remains prime focus for organic spices market due to huge potential for both supply and demand. Vietnam, Indonesia, Spain and China are among the other top emerging markets for organic spices
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