North America Spice and Herb Extracts Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Spice and Herb Extracts Market Analysis
The North America spice and herb extracts market is expected to register a CAGR of about 7.2% during the forecast period, 2020-2025.
- The market has a good trade potential, especially for small-scale farmers in regions, like the United States and Mexico, where significant local demands exist for spices and herb extracts. A large proportion of extracts traded in, both, local and export markets is produced by small-scale farmers, and the global trade provides multi-billion US dollar earnings.
- The rising awareness among consumers, regarding various health issues, has led to an increasing number of applications of natural spices and herbs extracts. The demand for ready-cooked and easy-to-prepare food is growing in North America, which, in turn, is boosting the market for spices and herbs extract in the region.
North America Spice and Herb Extracts Market Trends
This section covers the major market trends shaping the North America Spice & Herb Extracts Market according to our research experts:
The Growing Preference for Flavor Experimentation Heating Up Demand for Exotic Herbs and Spices.
Consumers are looking to try new and ethnic flavors. Hence, the herbs and spices manufacturers, such as Kerry Group PLC, Firmenich SA, Dohler Gmbh, and others in the country, with established recipes, are offering more twists in their classic products offering. The frequency of consuming hot and spicy food has increased in the past couple of years and Americans are actively opting for bolder ethnic flavors, such as Kung-Pao sauce, Mongolian style BBQ sauce, Teriyaki sauce, sesame sauce, in their everyday meals, like soups, which, in turn, is boosting the spices and herbs extract market in the region.
United States Holds the Largest Market Share
The United States dominates the North America spice and herb extracts market, as spices and herb extracts are used for various applications in the food and beverages industry, especially in bakeries. In North America, the demand for the organic food market has grown with the demand for organic spice/herbs extracts. According to the American Botanical Council, as of 2013, the sales rate of herbal dietary supplements in the United States increased by 7.9%, reaching a total estimated figure of USD 6 billion.
North America Spice and Herb Extracts Industry Overview
The North America spice and herb extracts market is a partially competitive market, with the presence of various major and local players. Players adopt various strategies to occupy the market share. The major strategies adopted are acquisitions, expansions, and new product launches. McCormick & Company Inc., Dohler Gmbh, and Kerry Group are the major players of the market.
North America Spice and Herb Extracts Market Leaders
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McCormick & Company, Inc
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Kerry Group plc
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Dohler Gmbh
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Firmenich SA
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Olam International
*Disclaimer: Major Players sorted in no particular order
North America Spice and Herb Extracts Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions and Market Definition
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Product Type
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5.1.1 Cinnamon
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5.1.2 Cumin
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5.1.3 Chili
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5.1.4 Coriander
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5.1.5 Cardamom
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5.1.6 Oregano
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5.1.7 Pepper
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5.1.8 Ginger
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5.1.9 Other Product Types
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5.2 Application
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5.2.1 Food Applications
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5.2.2 Beverage Applications
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5.2.3 Pharmaceuticals
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5.3 Geography
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5.3.1 United States
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5.3.2 Canada
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5.3.3 Mexico
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5.3.4 Rest of North America
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6. COMPETITIVE LANDSCAPE
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6.1 Most Adopted Strategies
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6.2 Market Share Analysis
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6.3 Company Profiles
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6.3.1 McCormick & Company Inc.
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6.3.2 Kerry Group PLC
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6.3.3 Dohler Gmbh
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6.3.4 Firmenich SA
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6.3.5 Olam International
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6.3.6 Sensient Colors LLC
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6.3.7 Givaudan
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6.3.8 Organic Herb Inc.
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Spice and Herb Extracts Industry Segmentation
The North America spice and herb extracts market is segmented by product type and application. Based on product type, the market is segmented into cinnamon, cumin, chili, coriander, cardamom, oregano, pepper, ginger, and other product types. On the basis of application, the market is segmented into food applications, beverage applications, pharmaceuticals. Based on geography, the report provides an analysis of the regional market.
| Product Type | |
| Cinnamon | |
| Cumin | |
| Chili | |
| Coriander | |
| Cardamom | |
| Oregano | |
| Pepper | |
| Ginger | |
| Other Product Types |
| Application | |
| Food Applications | |
| Beverage Applications | |
| Pharmaceuticals |
| Geography | |
| United States | |
| Canada | |
| Mexico | |
| Rest of North America |
North America Spice and Herb Extracts Market Research FAQs
What is the current North America Spice and Herb Extracts Market size?
The North America Spice and Herb Extracts Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)
Who are the key players in North America Spice and Herb Extracts Market?
McCormick & Company, Inc, Kerry Group plc, Dohler Gmbh , Firmenich SA and Olam International are the major companies operating in the North America Spice and Herb Extracts Market.
What years does this North America Spice and Herb Extracts Market cover?
The report covers the North America Spice and Herb Extracts Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Spice and Herb Extracts Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Spice and Plant Extracts Industry Report
Statistics for the 2024 North America Spice and Plant Extracts market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Spice and Plant Extracts analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
