Global Organic Spices Market 2017-2021
About Organic Spices
Spices are obtained from various parts of the tree like bark, root, stem, and others. They have several applications. They are often used as flavoring agents, coloring agents, preservatives, and for other purposes. Organic spices refer to the spices that do not use harmful chemicals, pesticides, and fertilizers in their production process. Organic spices do not include spices that are modified genetically to increase yield.
Technavio’s analysts forecast the global organic spices market to grow at a CAGR of 7.85% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global organic spices market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Organic Spices Market 2017-2021
Technavio recognizes the following companies as the key players in the global organic spices market: Earthen delight, Frontier Natural Product Co-op, ORGANIC SPICES, Rapid Organic, and Sapthsathi Organic Agriculture Project (S.O.A.P).
Other Prominent Vendors in the market are: Live Organics, Starwest botanicals, Salzhaus'l Himalaya -Kristallsalz, The Spice Hunter, and Yogi Botanicals
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing demand for fair trade organic spices. Fair trade practices refer to the compliance of several measures that ensure the social and economic welfare, sustainable development, and fair policies in trade. There has been an increased demand for products that follow quality standards and parameters.”
According to the report, one driver in the market is health and wellness properties of spices. Spices have been used since yore for their health and therapeutic properties, especially in the Eastern culture. Spices have found use not just in the kitchens of consumers, but also in the treatment of minor ailments. To prevent side-effects due to contamination in regular spices, people prefer organic spices more. Different spices and herbs are used in the treatment of different health ailments. Organic spices do not contain any adulterants and help in developing better immunity power, as most spices are rich in antioxidants.
Further, the report states that one challenge in the market is premium pricing of organic spices. The major challenge existing in the global organic spices market is the premium pricing of the finished goods of organic spices, compared to that of regular spices. This is due to the heavy costs incurred in the processes of organic farming cultivation, which makes use of new technology and techniques; for example: Steam treatment, a process that is more expensive than irradiation or normal drying-up methods used in the case of regular spices. Moreover, the cost incurred in obtaining the organic certifications are added to the retail price of the product.
Earthen delight, Frontier Natural Product Co-op, ORGANIC SPICES, Rapid Organic, and Sapthsathi Organic Agriculture Project (S.O.A.P), Live Organics, Starwest botanicals, Salzhaus'l Himalaya -Kristallsalz, The Spice Hunter, and Yogi Botanicals
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