Dried Herbs Market Growth Driven by Processed Food Demand: Expected CAGR of 4.9%

The global dried herbs market is poised for significant growth, with projections indicating an increase from US$ 3.6 billion in 2022 to US$ 5.5 billion by 2031, reflecting a compound annual growth rate (CAGR) of 4.9% from 2023 to 2031. This article examines the key drivers of this growth, market dynamics, regional insights, and major players shaping the industry.

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Analyst Viewpoint

The surge in demand for processed food worldwide is a pivotal factor driving the dried herbs market. In an era marked by stressful work cultures and fast-paced lifestyles, consumers increasingly seek convenient food solutions, including processed meals, frozen food, and snacks. These products often rely on dried herbs to enhance flavor and nutritional value. Moreover, herbs are integral to the formulation of nutritional drinks and organic health foods, further propelling market demand.

To meet the expectations of environmentally-conscious consumers, key players in the dried herbs sector are investing heavily in the ethical sourcing of leaves and plants. This not only aligns with consumer preferences for healthy, sustainable products but also enhances brand loyalty. Additionally, investments aimed at extending shelf life for dried herbs are facilitating their use in innovative food production, maintaining potency and flavor over time.

Market Introduction

Dried herbs are derived from fragrant plants traditionally used to enhance the flavor of various cuisines and possess a long history of medicinal applications. The process of drying herbs involves cleaning, sorting, and drying them in the sun, which results in a product that is often more potent than its fresh counterpart due to reduced water content. Common varieties include oregano, rosemary, sage, and thyme, all of which are renowned for their antioxidant and anti-inflammatory properties. These characteristics make dried herbs not only flavorful but also beneficial for respiratory health, digestive issues, cognitive function, and menopausal symptoms.

The rise of globalization has introduced diverse culinary practices worldwide, driving demand for preserved herbs and aromatic dried leaves. With growing health consciousness and a shift towards organic food trends, the market for dried herbs is experiencing significant expansion.

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Competitive Landscape

The competitive landscape of the dried herbs market is characterized by a mix of established players and emerging companies. Key players are focusing on product diversification and strategic partnerships to strengthen their market positions. By investing in research and development, companies aim to introduce new product variants that cater to changing consumer tastes and preferences.

Increase in Demand for Processed Food Driving Market Progress

The increasing preference for processed foods such as snacks, pickles, and beverages has intensified the need for a variety of dried herbs and seasonings. The consumption-focused work culture and the growing trend of on-the-go lifestyles have further contributed to the rising demand for ready-to-eat meals and convenience food. For instance, data from Swiggy, an online food aggregator, reveals that the company facilitated over 500 million deliveries across 500 cities in India, underscoring the shift towards accessible meal options and the growing reliance on dried herbs for flavor enhancement.

Additionally, dried herbs play a crucial role in the beverage sector, particularly in the preparation of natural-infused drinks and herbal beverages. As consumer preferences shift towards healthier options, the inclusion of dried herbs in these products is likely to remain a key market driver.

Longer Shelf Life Fueling Dried Herbs Market Development

One of the significant advantages of dried herbs is their extended shelf life, which can range from six months to four years, depending on production methods and storage conditions. While dried herbs remain safe for consumption beyond their labeled shelf life, they may lose potency and aroma over time. To combat this, manufacturers are employing advanced preservation techniques, such as vacuuming and air drying, to enhance the longevity and quality of their products.

For example, dried herbs like lemongrass, cloves, and cinnamon sticks are noted for their remarkable shelf lives, which contribute to their popularity among consumers and food manufacturers alike. The convenient packaging and portability of dried herbs make them accessible to a wide range of consumers, reinforcing their influence on dietary habits and culinary practices.

Regional Outlook

In 2022, the Asia Pacific region dominated the global dried herbs market. The increasing demand for processed and ready-to-eat food products is a significant factor driving market dynamics in this region. India stands out as a leading player in the ready-to-eat meal market, fueled by the growth of hypermarkets and supermarkets that distribute instant food products.

According to ThaiScience, Asia is home to 13 out of the 70 plant species cultivated globally as spices, underscoring the region's pivotal role in the dried herbs market. Meanwhile, Europe is witnessing a surge in demand for dried herbs, driven by an increasing appreciation for ethnic cuisine and healthier living. Countries like Germany, Italy, and the Netherlands are notable for their growing interest in seasonings, with Germany being the largest importer of herbs and spices from developing economies in Asia Pacific and the Middle East.

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