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Spice & Herbs Extracts Market worth $1.58 billion by 2030, growing at a CAGR of 6.72% - Exclusive Report by 360iResearch
Spice & Herbs Extracts Market | 360iResearch
The Global Spice & Herbs Extracts Market to grow from USD 1.00 billion in 2023 to USD 1.58 billion by 2030, at a CAGR of 6.72%.
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Spices and herbs extracts are highly concentrated forms of spices and herbs obtained through distillation, cold pressing, and solvent extraction. These extracts aim to preserve the flavors, aromas, and essential properties of the herbs and spices, making them more potent than their dried or fresh counterparts. Growing demand for spices and herbs from the commercial and household sectors and increasing demand for instant spice mixes as convenient choices in the food industry are positively influencing the market growth. Price pressures due to scarcity and limited supply of spices and herb extracts and issues associated with adulteration and contamination of spice derivatives limit the market demand. The emerging potential of organic herbal extracts and growing applications of spices and herbs in research activities for medicines present opportunities for producing higher quality, more sustainably sourced extracts.
The United States stands out as a significant market for spices and herbs extracts in North America, driven by a growing demand for natural and organic ingredients in food, cosmetics, and pharmaceuticals. Consumer awareness about the health benefits of natural spices and herbs, coupled with high purchasing power, has propelled market growth. In South America, countries such as Brazil and Peru are notable for their production and export of indigenous herbs and spices. The local consumption and international demand for natural food flavorings and medicinal herbs support the market. Europe is a significant market, with a strong emphasis on food safety and quality standards, leading to increased demand for certified organic and non-GMO spices and herbs extracts. The Middle East and Africa regions are renowned for their historical trade in spices, with countries including Turkey, South Africa, and the UAE playing pivotal roles in production and trade. The diverse culinary traditions across EMEA have bolstered the demand for a wide range of spices and herb extracts, making it a vibrant market for traditional and exotic offerings. The Asia-Pacific region is India, China, and Southeast Asia's largest and most dynamic market for spices and herbs extracts. These regions are traditional producers of various spices and herbs, making them central to the global supply chain. Rapid urbanization, a burgeoning middle class, and a more significant emphasis on health and wellness have significantly boosted the demand for spices and herbs extracts in the APAC market. Food technology and packaging innovations in countries such as Japan and South Korea are also driveth.
Market Segmentation & Coverage:
This research report categorizes the Spice & Herbs Extracts Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Essential Oils, Liquid Blends, and Spice Seasonings & Blends. The Essential Oils commanded largest market share of 44.38% in 2023, followed by Spice Seasonings & Blends.
Based on Product, market is studied across Basil, Cardamom, Celery, Chili, Coriander, Cumin, Ginger, Oregano, Pepper, and Thyme. The Cardamom commanded largest market share of 20.68% in 2023, followed by Cumin.
Based on Application, market is studied across Beverage, Food, and Medicines. The Beverage is further studied across Alcoholic Beverages, Soft Drinks, and Tea & Herbal Drinks. The Food is further studied across Dairy, Dressings & Marinades, Meat & Poultry, and Snacks. The Food commanded largest market share of 39.75% in 2023, followed by Beverage.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 36.69% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Spice & Herbs Extracts Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Spice & Herbs Extracts Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Spice & Herbs Extracts Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., All-Season Herbs Pvt. Ltd., Archer Daniels Midland Company, Arjuna Natural Ltd., BM Ingredients Europe GmbH, Botanic Healthcare Group, British Pepper & Spice, Cosmark Pty Ltd., Döhler GmbH, Firmenich International SA, Givaudan SA, Huisong Pharmaceuticals, International Taste Solutions Ltd., Kalsec Inc., Kerry Group PLC, Lionel Hitchen Ltd., McCormick & Company, Incorporated, Naturalin Agricultural Development Co., Ltd., Olam Group Limited, Organic Herb Inc., Oterra A/S, Robertet SA, Sabinsa Corporation, Select Botanical, S.L., Sensient Technologies Corporation, Symrise AG, Takasago International Corporation, Universal Oleoresins, V & D Flavours & Fragrances, and Vidya Herbs Pvt. Ltd..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Spice & Herbs Extracts Market, by Type
7. Spice & Herbs Extracts Market, by Product
8. Spice & Herbs Extracts Market, by Application
9. Americas Spice & Herbs Extracts Market
10. Asia-Pacific Spice & Herbs Extracts Market
11. Europe, Middle East & Africa Spice & Herbs Extracts Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Spice & Herbs Extracts Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Spice & Herbs Extracts Market?
3. What is the competitive strategic window for opportunities in the Spice & Herbs Extracts Market?
4. What are the technology trends and regulatory frameworks in the Spice & Herbs Extracts Market?
5. What is the market share of the leading vendors in the Spice & Herbs Extracts Market?
6. What modes and strategic moves are considered suitable for entering the Spice & Herbs Extracts Market?
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