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The global organic spices market is expected to reach a valuation of US$ 15.4 Bn by 2032, with sales growing at a 4.6% CAGR over the forecast period.
Spices are in high demand in commercial and home sectors, not only because of their flavor and taste, but also because of the health benefits they provide. Consumers are willing to pay a premium price for high-quality, environmentally friendly, and organic products.
Consumers are drawn to food that is flavorful, appetizing, and colorful. Organic spices are being incorporated in bakery goods, snacks, confectionary, and beverage to improve the flavor, aroma, color, and shelf life of these products.
Surging demand for clean-label and organic food products across the globe is compelling manufacturers to introduce products with all natural and organic ingredients, with full transparency of the ingredient lists. This trend is bolstering sales of organic spices, and the trend is expected to continue over the forecast period.
“Growing adoption of herbs and spices to improve the shelf life of food products without adding sugar or salt will drive the organic spices market. In addition to this, rising popularity of global cuisine in various countries will spur demand in the market over the forecast period,” says the FMI analyst.
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Key manufacturers operating in the global organic spices market are investing in research & development to develop innovative and unique product offerings. In addition to this, they are aiming at mergers, acquisitions and joint ventures to expand their geographical presence and increase the existing production capacity. For instance:
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Future Market Insights, in its new report, offers an impartial analysis of the global organic spices market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on form (powder & granules, flakes, pasta, whole/fresh), product type (ginger, turmeric, basil, cumin, cinnamon, clove, pepper, garlic, others), end use (food, beverage, food service, retail), distribution channel (direct, indirect) across seven major regions.
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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
The post Organic Spices Market Will Grow by 4.6% Amid Surging Demand for Natural Ingredients in Processed Food Products: FMI appeared first on Future Market Insights.
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