Covid-19 Analysis on Fresh Herbs Market Research by Key Players Strategy | Spisa Group, Van Vugt Kruiden and Rocket Farms | Upcoming Trend by Forecast to 2025

Market Insight

Global Covid-19 Analysis on Fresh Herbs Market has witnessed continued growth over the last few years and is projected to grow by USD 1,183.2 Million from 2020 to 2025 at a CAGR of 3.9%. In developing countries such as India, China, and Bangladesh, consumers have traditionally purchased loose fresh herbs. However, in the past decade, there has been a shift with consumers emulating those in developed countries, resulting in a rise in the demand for packaged fresh herbs. The increasing per capita disposable incomes have made packaged fresh herbs affordable for all consumer groups. The growth of the organized retail sector and increasing consumer preference for grocery shopping at supermarkets and hypermarkets and online stores are driving the sales of packaged fresh herbs.

The fresh herbs market is fragmented with a large number of small and regional players operating in the market. There is stiff competition among these players with limited product differentiation. Moreover, the small and regional players have a strong hold on the market owing to their widespread presence, low prices, and conventional and established consumer bases. Consumers are reluctant to switch from traditionally used products as they have the first-hand experience of product quality. Most consumers are price-sensitive, which poses a challenge to the organized brands in establishing their dominance in the unorganized market of fresh herbs.

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Key Players

Market Research Future recognizes Spisa Group (Sweden), Vitacress (UK), Van Vugt Kruiden (Netherlands), Rocket Farms (US), Nomad Foods (UK), Pacific Botanicals (US), Shenandoah Growers, Inc. (US), Langmead Herbs (UK), Organic Herb Trading Company (UK), and Al-Hanin Herbs (Egypt) as the Key Players active in the Global Fresh Herbs Market.

Key Findings of the Study

The Global Covid-19 Analysis on Fresh Herbs Market is expected to register a growth rate of 3.9% between 2019 and 2025. A surge in demand for packed fresh herbs is anticipated to propel the growth of the global fresh herbs market.

By type, basil is projected to maintain its dominance from 2019 to 2025. The segment is expected to register a substantial growth rate of 3.7% during the forecast period.

On the basis of the distribution channel, the foodservice segment is estimated to hold the largest market share during the forecast period and is projected to register a growth rate of 3.7%.

Segment Analysis

Global Covid-19 Analysis on Fresh Herbs Market has been segmented based on Type, Category, Distribution Channel, and Region.

Based on type, the global market has been divided into basil, chives, coriander, parsley, mint, salicornia, and others. In terms of revenue, basil dominated the global fresh herbs market in 2020. However, chives are projected to register the highest CAGR of 4.9% during the forecast period as it is a commonly used ingredient for the preparation of fish, potatoes, soups, and other dishes. It is also used as a garnish and in salads, sandwiches, vegetable stock, soup, creamy sauces, potato dishes, and omelets. It adds an onion-garlic-like flavor to many savory dishes.

By category, the market has been categorized as conventional and organic. The conventional segment garnered a larger share of the global fresh herbs market in 2020. However, the organic segment is expected to register a higher CAGR during the forecast period 2019–2025. The segment’s growth can be attributed to the surging demand for natural and organic products among the consumers, especially in North America and Europe. Organically produced fresh herbs are chemical-free and cultivated under stringent guidelines and supervision to maintain purity and low-to-zero chemical concentration. They are relatively costlier and require high capital investments for the cultivation.

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Based on the distribution channel, the global fresh herbs market has been classified as foodservice and food retail. In 2020, the foodservice segment constituted the largest revenue share of the market as cereals provide a wide harvest window for forage and concentrate. However, the legumes & pulses fresh herbs are increasingly used in the foodservice industry to enhance flavor and for garnishing. Rising disposable incomes and rapid urbanization are driving the growth of the foodservice industry with an increasing number of consumers opting to dine out. Moreover, the rising number of restaurants and cafés, especially in developing countries, is expected to boost the sales of fresh herbs in the foodservice segment.

Regional Analysis

Geographically, the global fresh herbs market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest market share of nearly 40% in 2020. However, the Europe fresh herbs market is expected to register the highest CAGR of 4.7% during the forecast period 2019 to 2025.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.

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This release was published on openPR.