Organic Spices
Spices are being used as flavoring agent, coloring agent, or as a preservative in different types of food products. Cardamom, clove, black pepper, cumin, coriander seeds, mustard seeds, fenugreek, turmeric, and saffron are some of the spices that are witnessing considerable growth in the global market. Asia-Pacific region has witnessed higher rate of consumption for these spices, owing to rise in demand and preference for spicy food in the region. Asia-Pacific is also the main producer and exporter for different types of spices.
Higher price margin and varying trade regulations of importing countries are expected to hamper the growth of the global organic spices market. Higher production cost and logistic cost results in higher price range of organic spice as compared to conventional spices. However, rise in rate of organic food consumption as well as rise in disposable income specifically in North America and Europe provide lucrative opportunity in the organic spices market forecast.