Global Spices and Herbs Extracts Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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May 2023
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This report was compiled by Shreyas Rokade Shreyas Rokade is a seasoned Research Analyst with CMFE, bringing extensive expertise in market research and consulting, with a strong background in Chemical Engineering. Correspondence Team Lead-CMFE Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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The Spices and Herbs Extracts Market report offers insightful and detailed information regarding the various key players operating in the global spice and herbs extracts market, and their financials, apart from strategies, acquisitions & mergers, and market footprint.
The global spice and herbs extracts market is segmented on basis of type, product type, application, and region.
Spices and Herbs Extracts Market Overview:
“The Spices and Herbs Extracts Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Herbal extracts are obtained from leaves, stems, and flowers of herbs. Spice extracts are aromatic and pungent ingredients obtained from seeds, fruits, roots, barks, and vegetables.
The process includes extracting a part of raw materials by using solvents such as water or ethanol. Extracts can be in tincture or powder forms.
Spice and herbs extracts are used in foods, beverages, medicines, and also for imparting flavors, and colors, and preserving food products.
Major factors driving the growth of the global spice and herbs extracts market include increasing demand for convenience food and increasing availability and growing popularity of international cuisines in various countries.
In addition, rising awareness about the medicinal properties of herbs and spice extracts coupled with their usage in innovative food recipes are further driving the growth of the global spice and herbs extracts market.
Furthermore, due to globalization and increasing tourism activities, demand for ethnic food has been increasing, which is, in turn, boosting the demand for spice and herbs extracts in various regions, and this trend is expected to continue during the forecast period.
Inefficient processing techniques and lack of essential infrastructure are major restraining factors for the growth of the global market.
In addition, adulteration of spices and herbs extracts, availability of substitutes by local market players, and unfavorable climatic conditions in some regions are expected to challenge the growth of the global market.
However, rising demand for variations in flavored food products is expected to create new and promising opportunities for major players in the global market.
The North American market accounts for the largest revenue share owing to the rising trend of preference for convenience foods and the growing popularity of street food culture, followed by Europe.
The market in the Asia Pacific is expected to witness the highest revenue growth during the forecast period owing to suitable climatic conditions to cultivate spices and herbs, high consumption by locals, and the presence of major suppliers from countries such as India, China, etc.
Global Spices and Herbs Extracts Market Segmentation:
Segmentation on basis of type:
- Celery
- Cumin
- Chili
- Coriander
- Cardamom
- Oregano
- Pepper
- Basil
- Ginger
- Thyme
- Others
Segmentation on basis of product type:
- Essential oils
- Seasonings
- Blends
- Others
Segmentation on basis of application:
- Food
- Beverages
- Pharmaceuticals
Segmentation on basis of region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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- Döhler GmbH
- Synthite Industries Ltd.
- Kalsec Inc.
- Naturex SA
- Alkaloids Corporation
- Organic Herb Inc.
- Plant Extracts International Inc.
- Lehmann & Voss & Co. KG
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