Core Insights - McCormick & Co. is increasing prices in its consumer goods segment due to rising costs from tariffs and ingredients [1][2] - Price increases are expected to contribute more significantly to growth in 2026 compared to 2025, as the company has not fully passed on tariff costs [2] Company Actions - McCormick plans to implement targeted price increases starting in February 2025, with additional increases anticipated [2] - Other companies in the spice and seasoning industry, such as B&G Foods and International Flavors & Fragrances, are also raising prices due to similar cost pressures [5][6] Market Trends - The U.S. seasoning and spice market, valued at approximately $2.9 billion, is projected to grow to $4 billion by 2030, driven by a multicultural population and diverse tastes [4] - Despite rising prices, consumers are still inclined to cook at home as a cost-saving measure, which supports ongoing demand for spices and seasonings [7][8] Consumer Behavior - Consumers, particularly those from low-to-middle income households, are making more frequent shopping trips while purchasing fewer items per trip, indicating a focus on budget management [8] - The importance of flavor in everyday cooking remains strong, with herbs and spices leading in unit consumption [8]