Latin America Organic Spices Market

Latin America Organic Spices Market Forecast Analysis 2022 - 2027:

Latin America Organic Spices Market size is estimated to develop with a considerable compound annual growth rate throughout the calculated period of 2022 - 2027.

Organic spices are natural and do not contain harmful chemicals and pesticides. The great variety of spices frequently used is ginger, garlic, coriander, chili powder, Turmeric, among others. The functionality of regular spices and organic spices may be similar, but organic spices are a mix of healthy and safe food. It is a combination of healthy and safe foods because organic spices guarantee safety. The growing demand for organic spices in the food and beverage sector is driving the organic spice market.

Impact of COVID-19 on Organic Spices Market:

The coronavirus epidemic has had a significant impact on various industries, more particularly in the food & beverage sector.  However, the organic spices industry is determined to develop in a positive way as consumers prefer more organic products in their cuisines and spices are known for their various medicinal advantages.

Recent Developments:

1. In June 2018, McCormick & Company, Incorporated, the world leader in flavors, today announced the signing of an agreement to buy 100% of the shares in Kamis SA that is a private company based in Poland with distribution in Russia and other countries of central and eastern Europe. The agreement is expected to be completed by September 2011, subject to regulatory approval.
2. In October 2018, Naturvibe Botanicals announced the launch of the extension of its range of organic products for the Indian region to which they had supplied their customers with their company, which made the products available for the region in June 2018. The product will be commercially available through its website, while promoting its offerings to major e-commerce organizations such as "Amazon", "Snapdeal" and even "eBay".

Market Drivers and Restraints:

The rising consumer awareness related to the benefits of organic spices in terms of medicinal advantages will stimulate demand for organic in Latin America during the outlook period. Spices are mainly used to flavor, preserve, and color food. Strong individual flavors and essence that enrich meals for a wide range of food applications will continue to be a key driver of demand. Spices are an essential ingredient for a wide range of cuisines worldwide due to their associated garnish and aroma benefits. These ingredients provide a pleasant aroma and enrich the quality of food by adding a balanced amount in the respective kitchen. The increasing demand for organic turmeric in culinary, snack, and ready-to-eat applications, and for meat and poultry due to its high preservative properties will stimulate growth in the organic spice market.

The ingredient is also gaining importance in international kitchens due to its additional benefits related to the anti-enzyme that will strengthen demand in the coming years. Most food processors extensively add organic ingredients in countless applications, including canned beverages, baked goods, sauces, popcorn, and yogurt. The expansion of the food industry, as well as the growing demand for ready-to-eat food products, will strongly stimulate the growth of the Latin America organic spice market during the forecast period. Garlic oil has many nutritional applications due to its strong flavors that enhance aroma and give a pleasant flavor in soups, canned foods, and sauces. Ginger is also widely used in spirits, sodas, and ginger cocktails, which will greatly support the growth of the organic spice market. Other benefits such as improving heart health, regulating metabolism, and detoxification lead to the adoption of products in various applications. The slowdown in production in some areas due to the reluctance of farmers to change traditional farming methods to organic farming may hamper the market growth.

Market Segmentation

The market segmentation for Latin America Organic Spices has been divided by Product, Form, and Distribution Channel.

Organic Spices Market, By Product Type:

• Chili
• Garlic
• Turmeric
• Clove
• Pepper
• Nutmeg
• Cinnamon
• Mustard Seed

Organic Spices Market, By Form:

• Powder
• Granular
• Extract
• Raw

Organic Spices Market, By Distribution Channel:

• Offline Store
• Online Store

Garlic is expected to generate more than 2.5 million tons by 2024. Increased demand for garlic due to its high use to provide aromatic flavors in various dishes will primarily stimulate the growth of the organic spice market. China, Korea, India, the United States, Spain, and Argentina are among the main garlic-producing countries. The increasing demand for culinary and salty foods generates a high demand for garlic in powder form, garlic cheese croutons, garlic vinegar, and garlic salts. Ginger has attracted special attention due to its native medicinal benefits that open up possibilities for commercial use. Several food manufacturers offer a range of specialty products, including gingerbread, medicinal confectionery, and premium sauces, which will generate high demand for products.

By form, the powdered section is likely to augment in the Latin American organic spices market. At the same time, the direct sales channels accounted for the leading portion of the regional market.

Regional Analysis

The market for Latin America Organic Spices has been divided into Mexico, Brazil, Peru, Chile, and the rest of Latin America. Latin America is one of the key emerging regions, which will generate significant opportunities in the Organic Spices market during the forecast period. The increasing popularity of exotic and natural ingredients in food preparation due to their long-lasting aromatic properties will have a positive impact on the growth of the local market.

Leading Company

Yogi Botanicals Pvt. Ltd. had the largest share of the Latin America Organic Spices Market in terms of sales revenue in 2018.

Key Players

The major companies for the Latin America Organic Spices Market include

1. Frontier Natural Products Corporation
2. Yogi Botanicals Pvt. Ltd
3. The Spice Hunter
4. Earthen Delight
5. Organic Spices Inc
6. Rapid Organic Pvt. Ltd
7. Rocky Mountain Company
8. Salzhäusl Himalaya-Kristallsalz GmbH
9. Starwest Botanicals
10. Live Organics