Organic Spices Market to Achieve a Valuation of $406.6 Million by 2026 | CAGR of 5.1%

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research titled, "Organic Spices Market by Product Type, Form, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019 - 2026," the global organic spices market size was valued at $272.8 million in 2018, and is projected to reach $406.6 million by 2026, growing at a CAGR of 5.1% from 2019 to 2026. In 2018, North America accounted for nearly 30.64% of the organic spices market.

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North America: A Frontier of Organic Food Movement

Leading the charge is North America, accounting for nearly 30.64% of the global organic spices market in 2018. This isn't surprising given the region's fervent embrace of organic food and beverages. The USDA confirms that the organic food segment is the fastest-growing within the industry, propelled by health-conscious consumers seeking wholesome alternatives. This trend isn't confined to North America alone; it's a global wave sweeping across countries where organic crop agriculture is gaining ground.

Spices: More Than Just Flavors

Spices have transcended mere culinary ingredients; they are cultural staples, revered for their versatility and health benefits. Asia-Pacific stands as a testament to this, boasting the largest market share for various spices. From Chinese to Indian cuisine, spices like turmeric, chili, pepper, ginger, and coriander seeds infuse dishes with not just taste but also tradition. The region's burgeoning organic food market further amplifies this demand, driven by an increasingly health-conscious populace.

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Nurturing Growth: Initiatives and Challenges

Behind the scenes, key players and non-profit organizations are fostering the growth of organic spices. Initiatives like the Indian Spices Board's promotion of organic spice cultivation and the Organic Trade Association's partnership with Indian Competence Centre for Organic Agriculture underscore a concerted effort to elevate the industry. However, challenges loom, including stringent trade regulations and logistical hurdles, which threaten to impede market growth.

The Players: Pioneers in Spice Evolution

In this dynamic landscape, key players such as Organic Spices Inc., UK Blending LTD, and The Watkins Co. are at the forefront, shaping the future of organic spices. Their innovation and commitment to quality are driving the industry forward, setting new standards for purity and sustainability.

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Leading market players analyzed in the research include the Pacific Spice Company, Inc., Organic Spices Inc., AKO GmbH, UK Blending LTD, Sabater Spices, The Watkins Co., Husarich GmbH, Daarnhouwer & Co, Spice Chain Corporation, and SunOpta Inc.

Key Findings of the Organic Spices Market:

In 2018, based on product type, the turmeric segment accounted for around 34.8% organic spices market share, growing at a CAGR of 4.9% from 2019 to 2026.

In 2018, based on form, the powder segment accounted for 32.3% share of the organic spices market and is expected to growth at the highest CAGR of 4.7%.

In 2018, based on region, Asia-Pacific accounted for a prominent market share and is anticipated to grow at a CAGR of 4.7% throughout the forecast period.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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