The global blended spices products market was valued at USD 16.2 billion in 2022 and is expected to expand at a CAGR of 7.2% from 2023 to 2030. Blended spices products are gaining popularity due to their convenience and health benefits. Blended spices are a combination of two or more spices that are blended together to create a unique flavor. The product offers unique flavors and makes the preparation of food easier, as it eliminates the need to buy individual spices. Moreover, the added health benefits of blended spices, such as reduced cholesterol and improved digestion, are also driving their demand worldwide.

The growing consumer demand for convenience and ready-to-eat food products is driving the demand for blended spices products. Manufacturers are introducing blended spices in various forms such as dry and wet, which are easy to use and require minimal preparation time. Furthermore, the introduction of various variants of blended spices products is also driving the market growth. For instance, in April 2021, McCormick launched a new range of blended spices, which included different variants such as original and Mexican-style, to cater to the growing demand for convenience.

The introduction of organic and clean-label blended spices products is also emerging as a trend in the market. Organic spices are free from artificial ingredients and preservatives, which are gaining popularity among consumers worldwide. For instance, in April 2021, McCormick launched a new line of organic blended spices, targeting the growing demand for organic products. Moreover, manufacturers are also focusing on introducing products fortified with vitamins, minerals, and antioxidants to increase their health benefits.

The rising influence of social media and the changing lifestyle of consumers is driving the demand for blended spices products. Manufacturers are introducing innovative and attractive packaging to attract the attention of consumers. For instance, in May 2021, McCormick launched a new range of blended spices, which included a new bottle design. Furthermore, the rising interest of consumers in cooking is another factor driving the demand for blended spices products. Consumers are using various recipes available online to prepare food, which is further driving the demand for blended spices. The increasing demand for traditional flavors, as well as unique flavors, is expected to propel the market growth.

The blended spices segment accounted for the largest share of the market in 2022. This segment is expected to continue its dominance over the forecast period owing to the increasing preference for convenience foods, rising disposable income, and the increasing penetration of western food culture in emerging economies. According to an article published by Packaged Facts, in April 2020, the demand for convenience and ready-to-eat foods has been increasing in the U.S. due to the changing lifestyles of consumers.

The single spices segment is anticipated to expand at the fastest CAGR of 9.1% over the forecast period. Increasing demand for organic and natural products and the growing awareness of spices among consumers are some of the key factors driving the segment. Additionally, the emergence of various single spice brands and their growing popularity among consumers is another factor driving the growth of the segment. Furthermore, the expansion of the e-commerce sector has enabled people to access a variety of single spices from all around the world.

The supermarkets and hypermarkets segment captured the major share of the blended spices products market in 2022. The rising consumer preference for supermarkets & hypermarkets as the primary source to purchase food items is likely to drive the growth of the segment. Supermarkets & hypermarkets offer a wide range of products, with an ample selection of blended spices. Moreover, supermarkets and hypermarkets provide convenience to the customers for their shopping needs. Thus, many consumers prefer to shop in these outlets.

The online segment is anticipated to expand at the highest CAGR of 13.7% over the forecast period. The increasing penetration of the internet and smartphones has encouraged customers to shop for blended spices products online. The online segment is becoming increasingly popular among young consumers, as they are more tech savvy and prefer online shopping to physical shopping. In addition, online stores offer discounts, cashback, and loyalty programs to attract customers. Furthermore, online stores provide convenience to customers by offering doorstep delivery of products.

The organic segment accounted for the largest revenue share of 67.3% in the year 2022. The growing preference for organic products among consumers due to their health benefits is expected to fuel the growth of this segment. Furthermore, the increasing demand for natural ingredients in food products is also driving the demand for organic spices. Moreover, the rising awareness among people about the health benefits of organic products, such as improved immunity, is also driving the growth of this segment.

The conventional segment is expected to expand at the highest CAGR of 8.4% over the forecast period. The growing demand for convenience foods and ready-to-cook products, as well as the competitive prices of conventional products, are likely to be the key drivers of this segment. Moreover, the wide availability of conventional spices in retail stores is also expected to fuel the growth of this segment.

Asia Pacific is expected to hold the largest market share during the forecast period. The rise in demand for convenience food products, such as ready-to-eat meals, is expected to drive the growth of the market in this region. The growing availability of packaged and processed food products is also expected to drive the demand for blended spices in the region. For instance, in January 2021, Konark Herbals and Health Care launched a range of blended spices for the Indian market.

North America is expected to witness an increase in demand for blended spices due to the rising popularity of international cuisine. The increasing awareness of the health benefits of spices is also expected to drive the growth of the market in this region. In addition, the presence of several prominent players in the region is anticipated to further drive the market growth in North America. For instance, in April 2021, McCormick & Company, Inc. launched Flavorful Moments, a range of blended spices, to the North American market.

In this part of the Blended Spices Products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your Blended Spices Products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a Blended Spices Products business comes from the sale of blended spices products such as herbs, seasonings, and spice mixes. Additionally, the business can generate revenue from subscriptions to spices of the month, online sales, and wholesale sales to restaurants and other businesses.

Projecting Expenses
In this section, all the regular expenses related to keeping the Blended Spices Products business running will be described. The list of operating expenses includes ingredient costs, packaging materials, labour costs, marketing costs, overhead costs, shipping & delivery costs, and other operational costs.

Some of the key companies operating in the blended spices market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In April 2022, McCormick & Company, Inc. launched a new range of blended spices under the brand name of Simply Asia.

– In July 2022, Givaudan launched a new range of blended spices under the brand name of Flavors of India.

– In October 2022, Nestle launched a new range of blended spices under the brand name of Maggi.

Some of the prominent players in the blended spices market include:

– McCormick & Company, Inc.
– Givaudan
– Nestle
– Universal Robina Corporation
– Ajinomoto Co., Inc.
– Unilever
– Spice World Inc.
– Advanced Food Systems, Inc.
– MDH Spices
– McCormick Global Ventures, LLC.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global blended spices products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Curry Powders
– Chilli Powders
– Turmeric Powders
– Garam Masala
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Organic
– Conventional

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: Who are the Key Players in the Blended Spices Products Market?
[A]: Major companies in the global blended spices products market include McCormick & Co., Inc., Nestle S.A., The Kraft Heinz Company, Unilever plc, Ajinomoto Co., Inc., B&G Foods, Inc., Associated British Foods Plc, Unilever India Ltd., ConAgra Foods, Inc., and Everest Spices.

[Q]: What are the Major Drivers of the Blended Spices Products Market?
[A]: The demand for blended spices products is driven by the increasing preference for convenience foods, changing dietary habits, and the growing number of working women. In addition, the growing demand for ready-to-eat and ready-to-cook food products is driving the market for blended spices. Furthermore, the growing trend of health and wellness, coupled with growing consumer awareness regarding the benefits of consuming spices, is expected to propel the demand for blended spices products.

[Q]: What is the Potential of Product Innovation?
[A]: Companies are increasingly focusing on product innovation to gain a competitive edge in the market. Companies are introducing new flavors, improved packaging, and innovative products to cater to the changing consumer preferences and attract a larger consumer base. Furthermore, manufacturers are focusing on utilizing natural ingredients, such as herbal plants and essential oils, as a substitute for preservatives, flavor enhancers, and colorants, which are anticipated to boost the growth of the market.

[Q]: What are the Factors Restraining the Growth of the Market?
[A]: The high cost of blended spices products, changing consumer preferences, and the concerns regarding the safety and quality of blended spices products are some of the factors that are expected to restrain the market growth in the near future.

[Q]: Which Region Offers the Largest Opportunity for Sales of Blended Spices Products?
[A]: Asia-Pacific is expected to offer lucrative growth opportunities for the blended spices products market, owing to the increasing demand for convenience foods and the growing disposable income of the population in the region.