Market Outlook of Allspice:
Allspice, also referred to as pimento, is obtained from a mid-canopy tree Pimenta dioica. The unripe dried fruit or the berry obtained from the plant is used as a spice. The name allspice was coined due to the combination of flavors of cinnamon, nutmeg and cloves offered by the berry. Allspice is one of the most exclusively grown spices in the Western Hemisphere. The plant is native to Central America but is now cultivated in many other countries as well. Allspice is one of the most prominent ingredients used in the Caribbean cuisine and thus, increasing in its demand is being witnessed in the North American market. Allspice is mainly used for giving the meat sauce its distinctive flavor and aroma. Growing health awareness and preference for spicy food have led to increasing demand for allspice in the Asia-Pacific region. The longer shelf life of allspice accompanied by rising new cuisines around the world has surged the demand for allspice across the globe.
Reasons for Covering Allspice as a Title:
Allspice is mainly used in the preparation of jerked meats, such as pork and chicken. Allspice is one of the most popular spices in European cooking, particularly used for the preparation of marinades and pickles. Allspice has been used in traditional Indian curries and is also widely used in the Middle East for making meat and rice dishes. The combined flavor of three different spices makes it an effective substitute for cinnamon, cloves and nutmeg. Apart from its wide application in the food industry, allspice has also found extensive usage in the medicinal field. The high concentration of organic compounds and beneficial nutrients, such as quercetin, tannins and eugenol, provide allspice with some extensive health benefits. Active ingredients in allspice have unique chemicals that alleviate pain and inflammation. The calming nature of allspice has made it an effective remedy for facilitating healthy digestion by eliminating constipation and excess bloating. The potassium present in allspice has a positive effect on heart health by releasing the tension of the cardiovascular system. All these reasons have made allspice an ingredient of significant importance in the food and medicinal industry, thereby escalating its demand in the spices market.
Global Allspice Market: Market Segmentation
On the basis of nature, the global allspice market has been segmented into:
On the basis of product type, the global allspice market has been segmented into:
On the basis of end use, the global allspice market has been segmented into:
- Food Industry
- Food Service Industry
On the basis of distribution, the global allspice market has been segmented into:
- Business to Business (B2B)
- Business to Consumer (B2C)
- Hypermarkets & Supermarkets
- Convenience stores
- Specialty stores
- Drug stores
- Online Retail
Global Allspice Market: Market Participants
Some of the market participants identified across the value chain of the global allspice market are McCormick & Company, Inc., Fuchs North America, The C.F. Sauer Company, Kalsec Inc., Kotanyi Gourmet, Castella, Kautilya Commodities, Alaska Spice Co., La Flor Spices, Gajanand Foods Pvt. Ltd among other allspice producers.
Opportunities for Participants in the Allspice Market:
The eugenol content in allspice makes it useful for the treatment of gums and teeth problems, thereby making it an effective ingredient for dentists. The unique combination of flavors present in allspice makes it a predominant ingredient in the foodservice industry. However, these benefits are not much known to the consumers. Thus, the market participants should focus on increasing consumer awareness regarding the nutrition content of allspice. The manufacturers should also come up with new strategies to promote allspice in the Middle East and Africa and Europe. The new market participants should grab the existing strategies as well as create new strategies to promote their products. Also, with the growing trend of healthy lifestyle, new products containing allspice should be introduced from time to time, which eventually will lead to the expansion of the allspice market.
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The company follows a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the types, forms, ingredients, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate overall market sizes.
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