New Report Spices Market (2011-2016) by MarketsandMarkets
Spices market research report highlights the niche market of spices by types, by geography and its application in food sector.
(PRWEB) June 23, 2012
The spices market research report highlights the niche market of spices by types, by geography and its application in food sector. Global Spice market is worth $3.67 billion. Spices come under commodity markets which are high in value but low in volume. Spices add flavor and a unique taste to the food, the food industry is ever growing with the spice of spices. There are about 109 spices listed by International Organization for Standardization and Asia grows about 60 of these spices. There is a hard international competition between spice producing countries such as India, Vietnam, Guatemala and China etc. America is the largest consumer of spices by volume and value. U.S. is accounting a share of 33%.Western markets have a huge demand for Indian spices.
The segments of health conscious consumers are choosing natural flavors to that of cheaper synthetic ones. Thus, spices are the basic taste building blocks in food applications. Among spices, the chief spices which are largely demanded are black pepper, cardamom, chilies, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, garlic, curry powder, spice oils and oleoresins. Amongst the global spice market Chilly contributes 40% followed by cumin 11%, turmeric 11%, and coriander 6% and black pepper 5%.Spice market key player countries in North America is U.S.A, in Asia are India, China, and Japan, and in Europe are UK, Germany, France, Spain, and Italy. India is the fastest growing market.
The key players covered in this report are Ajinomoto Co., Inc. (Japan), AVT McCormick Ingredients Ltd (India), British Pepper & Spice Co., Ltd (UK), B&G Foods, Inc. (USA) Global Spices Inc. (USA), Griffith Laboratories Worldwide, Inc. (USA) Malabar Super Spice Co. Ltd (Canada), The Nutmeg Spice Co. (US), Vallabhdas Kanji Limited (India) etc.
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