Dried Herbs Market 2024 - By Size, Share Analysis, Future Insights, Current Trends And Global Growth Outlook By 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Dried Herbs Global Market Report 2024 , furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The dried herbs market size has grown strongly in recent years. It will grow from $6.09 billion in 2023 to $6.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to traditional herbal medicine, culinary traditions, preservation and flavoring, global trade routes, traditional culinary and medicinal knowledge.

The dried herbs market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to sustainability and organic farming, innovations in packaging and presentation, global fusion in cuisine, evolving dietary preferences, online retail and e-commerce growth. Major trends in the forecast period include technological advancements in drying, increased culinary exploration, rising demand for organic varieties, home gardening and day trends, packaging innovations for freshness.

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Key Market Players:

Major companies operating in the dried herbs market report are Archer Daniels Midland Company, Kraft Heinz Company, Pacific Botanicals, McCormick & Company Inc., Firmenich S A, Döhler Group SE, Robertet SA, Alpine Herb Company, Synthite Industries Ltd., Nature's Way Products LLC, Frontier Co-op, Van Drunen Farms Inc., British Pepper & Spice Company Ltd., Star Kay White Inc., Starwest Botanicals Inc., Indiana Botanic Gardens Inc., Oregon's Wild Harvest LLC, Banyan Botanicals LLC, Penzey's Spices LLC, Mountain Rose Herbs Inc., Catz International B.V., Avi Naturals, Monterey Bay Spice Company, Red Moon Herbs Inc., Cherry Valley Organics LLC, Sorich Organics Private Limited, Hamps Bio Private Limited, Maduras Herbals Private Limited, Tenzing Momo, Burlap & Barrel Single Origin Spices Inc.

Market Drivers:

The increase in consumption of processed food is expected to propel the growth of the dried herbs market going forward. The rising disposable income due to economic growth has led to increased demand for processed foods. This consumption habit of processed foods in urban and young population have entered due to a lack of time for domestic cooking. Processed foods use dried herbs and other ingredients for flavoring or coloring to reduce the cooking times, leading to increasing demand for dried herbs by food processing companies. For instance, in April 2021, according to a report published by the Ministry of Commerce & Industry, India's export of processed food products increased by 26.51 % during April-February (2020-21) compared to the same period during the previous year. Furthermore, in the first 11 months of the fiscal year (2020-21), exports of miscellaneous processed items such as Indian snacks, sauces, starch products, and vegetable flours increased by 36%. The total value of processed product exports was INR 437,980 million ($5.5 billion). Therefore, increasing consumption of processed food is expected to boost the demand for dried herbs market during the forecast period.

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The dried herbs market covered in this report is segmented -

1) By Product Type: Oregano, Rosemary, Sage, Savory, Mint, Thyme, Bay Leaves
2) By Nature Type: Organic, Conventional
3) By Drying Method Type: Air Drying, Vacuum Drying, Microwave Drying
4) By Form Type: Whole Herbs, Powdered Herbs

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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