seasonings, herbs & spices market focus
DESCRIPTION
Your essential guide to the global market for industrial seasonings, herbs and spices in food and drink.TRANSCRIPT
Market drivers■ Growth markets/regions
■ Use of ethnic recipes
■ Meats, meals and snacks
■ Pastes, pulps and wet
seasonings
The global market for industrial seasonings, herbs & spices is currently worth $5.9bn and is growing at a rate of 4.4% per year, according to the latest research from RTS.
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Seasonings, herbs & spices
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Areas of focusTotal global usage of industrial seasonings, herbs
& spices in food and drink currently stands at 1.5 million tonnes, with usage in Asia Pacific forecast to grow by an additional 42,000 tonnes over the next five years to 2013.
The largest markets by country are:
USA 441,983 tonnes
China 144,130 tonnes
UK 99,550 tonnes
Japan 96,574 tonnes
8.0%Growth in usage of seasonings, herbs & spices in Central & South America.CAGR, 2003-2008. Source: RTS Resource
GLOBAL VALUE BY REGIONGlobal: Market value of seasonings, herbs & spices by region, 2008 $m
Source: RTS Resource
NAFTA$2.0bn
Western Europe$1.3bn
Eastern Europe$0.5bn
Central & S America
$0.4bnAfrica &
Middle East$0.2bn
Asia Pacific$1.4bn
Growth in Asia PacificThe global market for industrial seasonings, herbs & spices in food and drink is currently worth
$5.9bn. Central & South America and Asia Pacific are the fastest growing markets by region.
Demand for seasonings, herbs & spices in Asia Pacific is growing at a rate of 6.1% per year in value terms, while NAFTA remains the largest market, valued at $2.0bn in 2008.
other titles in the series...Flavours • Colours • Healthy Ingredients
Food Additives • Convenience Food
Asia Pacific FocusIn Asia Pacific, the market for industrial seasonings, herbs & spices grew to $1.4bn in 2008, with a year-on-year growth rate of 6.1% by value.
Over the last 5 years, the market has seen a marked change in its growth, with some
countries such as Malaysia (8.3%
CAGR), India (7.8%) and China (6.9%) growing faster than others
in value terms.
By volume, China (144,130 tonnes), Japan (96,574 tonnes) and India (27,183 tonnes) remain the largest
markets.
For detailed country analysis see the country focus on Japan below.
Forecast opportunitiesThe global market for
seasonings, herbs and spices is expected to grow steadily at a rate of 2.1% per year, reaching $6.3bn by 2013.
Meat and savoury products, snacks and ready meals will remain the largest markets by segment. Carcase meats and soft drinks are forecast to be the fastest growing segments, although from a small base.
GLOBAL USAGE BY SECTORGlobal: Volume usage of seasonings, herbs & spices by key sector, 2008 tonnes
Source: RTS Resource
Other5,796
Culinary & condiments
2,905
Soups & bouillon
4,187
Snacks7,240
Meat & savoury19,769
COUNTRY FOCUS: JAPANJapan: Volume usage of seasonings, herbs & spices by segment, 2008 tonnes
Source: RTS Resource
Snacks
Ready meals
Meat & savoury products
Culinary & condiments
Cakes & pastries 2,126
7,999
9,650
31,171
38,901
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$6.3bnForecast global market value of seasonings, herbs & spices.2013. Source: RTS Resource
Publ
ished
: May
200
9Key growth markets
Meat & savoury +46,139 tonnes
Snacks +35,989 tonnes
Ready meals +22,979 tonnes
Culinary & condiments +13,384 tonnes
Soft drinks +8,271 tonnes
Forecast growth in usage, 2008 to 2013.
Source: RTS Resource
“demand is growing at a rate of 6.1% per year”