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Spices Market growth is being driven by the soaring demand for authentic cuisines worldwide involving the application of spices.

HYDERABAD, TELANGANA, INDIA, December 28, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Spices Market size is estimated to reach $23.7 billion by 2027, growing at a CAGR of 5.5% during the forecast period 2022-2027. The term “Spice” indicates any dried portion of a plant, other than the leaves, in the culinary arts, utilized for seasoning and flavoring a recipe. Spices are different from herbs which are the leaves, flowers or stems of plants utilized for flavoring or as a garnish. Spices are at times utilized in medicine, religious rituals, cosmetics or perfume generation. Spices may be fresh, whole-dried or pre-ground dried. Whole-dried spices have the lengthiest shelf-life and therefore can be bought and stored in bigger quantities. Typical Indian spices include cumin, turmeric, pepper, cinnamon, cardamom and cloves. The burgeoning inclination towards enjoying distinct types of authentic ingredients in foods and snacks is set to drive the Spices Market. The soaring demand for blended spices is set to propel the growth of the Spices Industry during the forecast period 2022-2027. This represents the Spices Industry Outlook.

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Key takeaways:

This IndustryARC report on the Spices Market highlights the following areas -

1. Geographically, Asia-Pacific (Spices market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the history and origin of spices and their application in food in the Asia-Pacific region.

2. Spices Market growth is being driven by the soaring demand for authentic cuisines worldwide involving the application of spices. However, numerous spices are high-priced owing to being time-consuming to harvest or there being restricted supply globally and this is one of the major factors hampering the growth of the Spices Market.

3. Spices Market Detailed Analysis of the Strengths, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Spices Market report.

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Segmental Analysis:

Spices Market Segment Analysis - By Product Type : The Spices Market based on type can be further segmented into Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves and Others.

Spices Market Segment Analysis - By Form : The Spices Market based on the form can be further segmented into Powder, Whole, Chopped And Crushed. The Powder Segment held the largest Spices market share in 2021.

Spices Market Segment Analysis - By Geography : The Spices Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. Asia-Pacific (Spices Market) held the largest Spices market share with 35% of the overall market in 2021.

Competitive Landscape:

The top 5 players in the Spices Industry are -

1. Ajinomoto Co. Inc.
2. Associated British Foods plc
3. ARIAKE JAPAN CO. LTD.
4. Baria Pepper
5. Kerry Group

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A. Thailand Spices Market
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B. Ethiopia Spices Market
https://www.industryarc.com/Research/ethiopia-spices-market-report-700620

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