Market Insights Consumer Food Sauces & Spices

Spices & Culinary Herbs - South America

South America

Revenue in the Salt & Other Spices market amounts to €2.82bn in 2024. The market is expected to grow annually by 7.13% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€9,767m in 2024).
In relation to total population figures, per person revenues of €6.83 are generated in 2024.
In the Salt & Other Spices market, volume is expected to amount to 203.60m kg by 2029. The Salt & Other Spices market is expected to show a volume growth of 4.3% in 2025.
The average volume per person in the Salt & Other Spices market is expected to amount to 0.4kg in 2024.

Key regions: United Kingdom, Spain, Japan, India, South Korea

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Comparación de regiones

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Analyst Opinion

The Spices & Culinary Herbs Market in South America is experiencing minimal growth due to factors such as changing consumer taste preferences, limited availability of high-quality products, and stringent regulations. Despite this slow growth, the market is expected to see continuous expansion in the coming years due to the increasing popularity of international cuisines and the growing trend of using natural and healthy ingredients in cooking.

Customer preferences: As consumers become more health conscious, there has been a growing demand for natural and organic spices and herbs in the Sauces & Spices Market within The Food market. This trend is driven by a preference for clean and sustainable ingredients, as well as a desire for unique flavor profiles. Additionally, the popularity of global cuisines and fusion dishes has led to an increased interest in exotic spices and herbs from South America, such as aji amarillo and cilantro.

Trends in the market: In South America, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is experiencing a surge in demand for organic and sustainable products. Consumers are increasingly seeking out natural and healthy options, and this trend is expected to continue in the coming years. This presents an opportunity for industry stakeholders to tap into this growing market by offering a wide range of organic and sustainable spices and herbs. Additionally, there is a rising interest in exotic and regional spices, as consumers are becoming more adventurous with their culinary choices. This trend is expected to drive innovation and product diversification in the market, as companies strive to meet the changing demands of their customers.

Local special circumstances: In South America, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is heavily influenced by the region's rich biodiversity and cultural heritage. The use of spices and herbs is deeply ingrained in local cuisines, leading to a high demand for these products. Additionally, government regulations and trade policies have an impact on the sourcing and pricing of spices, making it a complex and dynamic market. In countries like Peru and Bolivia, the popularity of traditional herbal remedies has also contributed to the growth of the market.

Underlying macroeconomic factors: The Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is influenced by macroeconomic factors such as consumer spending, global trade policies, and food industry regulations. Countries with strong economic growth and stable consumer spending patterns tend to have a higher demand for spices and herbs in their cuisine, driving market growth. Additionally, favorable trade policies and regulations that promote the import and export of spices and herbs can also impact market performance. On the other hand, countries with weak economic growth and unstable trade policies may experience slower market growth due to decreased consumer demand and limited market access.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.