Dried Herbs Market Major Trends, Regional Growth Outlook And Forecast 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Dried Herbs Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $8.32 billion In 2028 At A CAGR Of 6.7% :

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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Dried Herbs Market Major Segments
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

Key Driver - Processed Food Preferences Drive The Dried Herbs Market

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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Prominent Trend - Strategic Partnerships Redefining The Landscape Of The Dried Herbs Market

Strategic partnerships are the key trend gaining popularity in the dried herbs market. Companies operating in the dried herb market are partnering with relevant companies to leverage each other's resources to develop new products and expand their presence into new markets. For instance, in February 2021, Feyecon Development & Implementation B.V, a Netherland-based company operating in providing an innovative solution for drying food products partnered with VNK BV, and developed herb flavor powders from waste materials on the base of green CO2 technology. VNK BV is a Netherlands-based company operating in drying leaf herbs and herbal roots.

Dried Herbs 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.

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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the dried herbs market in 2023, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the dried herbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Dried Herbs Market Report Structure
3. Dried Herbs Market Trends And Strategies
4. Dried Herbs Market - Macro Economic Scenario
5. Dried Herbs Market Size And Growth
…..
27. Dried Herbs Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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