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North America Spices – The Aromatic Treat of Goodness

23 March 2022 by Mordor Intelligence

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North America Spices – The Aromatic Treat of Goodness

– The North American seasonings and spices market is projected to reach USD 5,015.65 million by 2027, registering a CAGR of 4.65% during the period, 2022-2027.

– The demand from consumers for high-quality healthy food ingredients, along with the increased preference for trying out new flavors in the foodservice sector and processed food products, is supporting the overall spices and seasonings market’s growth in North America, leading to an upward trend, hence driving the market growth during the forecast period. ​

Developments in Seasoning & Spices Segment

– In June 2021, Kerry opened a new taste facility in Mexico, the Caribbean, and the Andean region Located in Irapuato, Mexico, the new state-of-the-art facility will significantly increase Kerry’s capacity in the region and further support customers in delivering local and sustainable taste solutions, which also include the production of innovative seasonings.

– In April 2021, Olam Food Ingredients (OFI) acquired United States-based private-label spices and seasonings manufacturer Olde Thompson at an enterprise value of USD 950 million through its wholly owned subsidiary Olam Holdings Inc. The acquisition helped expand OFI’s private label capabilities and enabled the business to provide consumers with a comprehensive range of bold, authentic, and natural tastes and flavors with end-to-end traceability and sustainability.

– In January 2021, Cargill launched a purified sea salt flour. The ingredient is ultra-fine cut, powder-like sodium chloride and is suitable for applications that require extremely fine sizing for blending, including dry soup, cereal, flour, and spice mixes, as well as for topping snack foods.

Growing Popularity for Ethnic Foods

– The seasoning and spices market is gaining popularity due to tourism. With ethnic foods becoming increasingly accessible and mainstream, consumers are developing an appetite for new and exciting spices and seasonings.

– Core reasons for this increase in ethnic cuisine include the growing multicultural population and the fact that people are travelling more and more to exotic destinations. As a result, the demand for spices, herbs, and seasonings used in exotic cuisine is also growing.

United States Dominates the Seasoning & Spices Market

– Rising consumer awareness pertaining to medicinal benefits associated with the consumption of herbs and spices is expected to support the business expansion in the country.

– The demand from consumers for high-quality healthy food ingredients, along with the increased preference for trying out new flavors in the foodservice sector, is supporting the overall spices and seasonings market’s growth in the country.

This insight was contributed by knowledge partner: