Retail Intelligence Report: Spices/Seasonings

Market Trends: Tridge's list of the Top 20 Trending Spices and Seasonings globally underscores the growing demand for convenience and innovation in spice blends, catering to diverse culinary preferences. Products like McCormick's street food seasonings and Ankerkraut's Mediterranean herbs reflect the rising interest in global cuisines. Additionally, the focus on organic, vegan, and additive-free products aligns with consumer health trends. Regional variations in pricing and product availability highlight the importance of localized strategies for market players, ensuring they meet the unique demands of each market.

Noteworthy Product: In Germany, TOMAMI Toscana Spice Sauce combines Italian spices with a rich umami flavor, making it a unique liquid seasoning for pasta, meat, and fish dishes. Vegan, gluten-free, soy-free, and lactose-free, it caters to various dietary preferences. Its convenience and versatility make it a niche product in the spice category. Its niche status stems from its specialized flavor, targeted dietary appeal, and premium pricing.

Industry News: Due to higher market prices, the turmeric acreage in Karnataka's Chamarajanagar district is expected to increase by 10 to 15% this year. The planting season began with pre-monsoon rains in early May, leading to a rising demand for high-yielding turmeric varieties. This development presents a valuable opportunity for exporters. Last year, farmers cultivated 8,700 hectares (ha) of turmeric in Chamarajanagar, but this year, the acreage is expected to exceed 10,000 ha. The Krishi Vigyan Kendra (KVK) in Chamarajanagar has introduced high-yielding varieties like IISR Pratibha and Alleppey Supreme, which are gaining popularity among farmers. Processing industries like Synthite Industries and Arishina Life Sciences have started sourcing turmeric from local farmers, supporting local communities and ensuring a steady supply of high-quality turmeric for processing industries.