Organic Spices Market to Hit $406.6 Million Growing at a CAGR of 5.1% | the Pacific Spice Company, Inc., Organic Spices Inc.

Allied Market Research published a report, titled, "Organic Spices Market by Product Type (Ginger, Turmeric, Clove, Pepper, Cinnamon, Nutmeg, Mustard Seeds, and Others), Form (Powder, Granular, Extract, and Raw), and Distribution Channel (Direct and Indirect): Global Opportunity Analysis and Industry Forecast, 2019-2026." According to the report, the global organic spices market generated $272.8 million in 2018 and is estimated to reach $406.6 million by 2026, growing at a CAGR of 5.1% from 2019 to 2026. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.

Rise in number of health-conscious consumers and increase in awareness regarding the health benefits associated with the consumption of organic spices are the two major factors that drive the growth of the global organic food & beverages market. On the other hand, varying and stringent trade regulation hampers the organic spices market growth. However, rise in rate of organic food consumption as well as rise in disposable income specifically in North America and Europe provide lucrative opportunity in the organic spices market forecast.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/5300

Spices have been enduring higher demand from the household and commercial sector around the world. It has been used as an effective coloring agent, flavoring agent, or even as a preservative in various cuisines. Asia-Pacific is the largest market for various types of spices due to higher rate of spicy food consumption. Chinese food, Thai food, and Indian cuisine are prepared and served using these spices. Turmeric, chili, pepper, ginger, and coriander seeds are some of the spices gaining higher traction in the Asia-Pacific region. Moreover, over the past couple of years, the Asia-Pacific organic food market has witnessed significant growth in terms of value sales, owing to rise in awareness regarding various health benefits associated with the consumption of organic food products among its consumers. Thus, Asia-Pacific accounts for the highest value share in the global organic spices market.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/3c08a8197273e6c88e651596e600670e

➡️Indirect segment to maintain its leadership status by 2026

The indirect segment held more than half of the total market share in 2018 and will maintain its dominance throughout the forecast period. However, the direct segment is estimated to register the highest growth rate with a CAGR of 5.2% from 2018 to 2026.

➡️North America to grow at the fastest CAGR

The Asia-Pacific region accounted for more than one-third of the market in terms of revenue in 2018, owing to the increasing demand for organic food in Asia at 15 to 20 percent every year over the last one decade. However, the North America region is expected to grow at the highest CAGR of 5.8% during the forecast period. Rise in number of Hispanic and Asian population, a trend toward use of spices to compensate for less salt and increase in popularity of ethnic foods from Asia and Latin America, are the key potential factors that have been driving the demand for spices in North America. Moreover, North America is being considered as the dominant region for the global organic food market. The research also analyzes regions including Europe and LAMEA.

𝐌𝐚𝐤𝐞 𝐚𝐧 𝐄𝐧𝐪𝐮𝐢𝐫𝐲: https://www.alliedmarketresearch.com/purchase-enquiry/5300

➡️Frontrunners of the industry

Leading market players analyzed in the research include the Pacific Spice Company, Inc., Organic Spices Inc., AKO GmbH, UK Blending LTD, Sabater Spices, The Watkins Co., Husarich GmbH, Daarnhouwer & Co, Spice Chain Corporation, and SunOpta Inc.

Key Findings of the Organic Spices Market:

➢In 2018, based on product type, the turmeric segment accounted for around 34.8% organic spices market share, growing at a CAGR of 4.9% from 2019 to 2026.

➢In 2018, based on form, the powder segment accounted for 32.3% share of the organic spices market and is expected to growth at the highest CAGR of 4.7%.

➢In 2018, based on region, Asia-Pacific accounted for a prominent market share and is anticipated to grow at a CAGR of 4.7% throughout the forecast period.

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