New York City, New York, 03 March, 2016: Persistence Market Research (PMR) has recently released a market study on the global seasonings and spices market, estimating it to grow at a 4.8% CAGR during the period from 2014 to 2019. In 2013, the market stood at US$12,530.5 million, which is expected to rise to US$16,628.6 million by 2019. In terms of production volume, the market was totaled at 634.6 million kg in 2008 and by 2012, it reached a total volume of 772.2 million kg.
The research report is titled “Global Market Study on Seasonings and Spices: Salt and Salt Substitute to Witness Highest Growth by 2019” and presents a comprehensive picture of the overall performance of the global seasonings and spices market at present as well as historically.
Regionally, Asia and Europe collectively held the largest share of the global seasonings and spices market in 2012, in terms of market value as well as production volume. Previously, the Asia seasonings and spices market produced 409.4 million kg in 2008 and till 2012 it rose to 511.1 million kg. Analysts expect these regional markets to maintain their leading position over the forecast period, wherein the market in Europe is projected to attain a market value of US$5,723.3 million, according to the report.
The rise in income levels has enabled consumers in Asian countries to spend more on food products. The changing food habits of Asian consumers and their shift toward Western cuisines are triggering the demand for seasonings and spices in this region.
On the other hand, unstable economic conditions and incompetent logistics in producer nations of seasonings and spices, such as India, are hampering the Asian market to a significant extent. Government policies favoring domestic demand also limit the export volume of seasonings and spices, restricting the growth of this regional market.
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The research report delves into the market condition of each segment, considering its historical as well as present performance, in order to provide a comparative analysis of the global seasonings and spices market based on quantitative as well as qualitative assessment of this market.
View TOC (table of content), Figures and Tables of the Report: http://www.persistencemarketresearch.com/toc/3080
Salt and salt substitutes, herbs, pepper, and spices are the four main segments of the global seasonings and spices market, in which salt and salt substitutes and pepper collectively account for more than half the global market. Over the forecast period, the market for salt and salt substitutes is expected to lead the overall market, posting a 4.3% CAGR with an estimation to reach a production volume of 369.2 million kg till 2019.
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The report also profiles the major companies functioning in the extremely fragmented global seasonings and spices market, which is led by McCormick. Other prominent players in this market are Unilever, Everest Spices, and Nestle.
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