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MARKET OVERVIEW

1.1 Definition and scope of study

Spices are aromatic and vegetable substances used to season food. They come from plant bark, leaves, fruits, flowers, bulbs or seeds. In the food industry, different subsets are often distinguished in the spice market: peppers, seasonings, herbs and blends. Spices can be found on the market either ground or whole. 

Globally, the market is certainly growing. Revenue is projected to grow from USD 7.4 billion in 2021 to USD 8.3 billion in 2026, progressing at a CAGR of 1.6% (period 2021-2026).

In Italy too, the market is going through a favourable period of continuous growth. According to some studies, sales have increased by 2.3% over the last three years. Driving this positive trend are dry spices, whose sales have increased by 19% in terms of volume and 17.4% in terms of value. 

What makes spices so popular on the Italian market are the beneficial and health properties attributed to them. In particular, what consumers are most inclined to choose are organic spices. Organic spices are considered to be the best choice as they perfectly represent consumers' inclination towards a varied and healthy diet, rich in beneficial foods for the body. 

Today, spices are not only used as seasoning for food, but also to treat medical problems, as they have antioxidant properties. 

As you can see from the information we have gathered, the spice market has plenty of room for growth, as they are considered beneficial both as part of a diet and as natural remedies for certain ailments due to their natural properties. 

However, it is important to take into account the need to rely on external suppliers and farmers (usually from Asian countries) and the possibility that climatic conditions in these foreign countries are adverse and do not allow us to obtain all the goods on time or in the best conditions.

ANALYSIS OF THE DEMAND

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE ACTORS

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Reviews (5)

The chocolate and chocolate factory market - France

Publicado en 23/06/2022 by Helie Krotoff

OK

The market for sports nutrition supplements - France

Publicado en 31/01/2022 by Thibaut Reinhard - Biocanna Technologies SRL

We got the numbers we needed. Excellent study


Businesscoot Response:

Thank you for your feedback. We are glad that the study lived up to your expectations. We hope you will give us a 5/5 next time ;)

The Farm Animal Feed Market - France

Publicado en 09/01/2022 by Hugo Schott - Businesscoot

Note the recent but steady take-off of organic feed for farm animals, which is leading to a renewal of research and development in the sector


Businesscoot Response:

Hello Hugo, Thank you for your feedback. We are glad that the study was up to your expectations. We hope you will give us a 5/5 next time ;)

The market for sports nutrition supplements - France

Publicado en 06/01/2022 by Amaury Wernert

The work of collection, data processing and the method to estimate the market still poorly known are very relevant. Interview with the market specialist on the impact of the Covid crisis very interesting


Businesscoot Response:

Hello Amaury, Thank you for your feedback. We are happy to read that the content and structure of the study have fully met your expectations. :)

The ready meal market - France

Publicado en 26/11/2020 by Lucie Piette - Cooperl

Good synthesis of the market with interesting figures


Businesscoot Response:

Hello Lucie, Thank you for your feedback. We are happy to read that you were completely satisfied with the content of the study. :)