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Number of pages : ~ 40 pages
Format : Digital and PDF versions
Last update : 15/12/2022

Summary and extracts

1 Market Overview

1.1 Definition and presentation

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

The global spice market is set to grow from $18.47 billion in 2022 to $25.42 billion by 2029, with a CAGR of 4.67 percent.

In Italy, the market is also going through a propitious period.What makes spices so popular in the Italian market are the beneficial and health properties attributed to them. In particular, what consumers are most enticed to choose are organic spices. Organic spices are considered the best choice as they perfectly represent consumers' inclination toward a varied and healthy diet, rich in beneficial foods for the body.

Today, spices are no longer just used as seasonings for foods but also to treat medical problems as they have antioxidant properties.

As can be seen from the information gathered, the spice market certainly has ample room for growth as they are considered beneficial both within a diet and as natural remedies for certain ailments due to their natural properties.

What is good to keep in mind, however, is the need to rely on outside suppliers and farmers (usually from Asian countries) and the possibility that weather conditions in these foreign countries may be adverse and may not allow all the goods to be obtained on time or under the best conditions.

2 Demand analysis

3 Market structure

4 Supply analysis

5 Regulations

6 Positioning of actors

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the spice market | Italy

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