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North America Spice and Herb Extracts Market Size (2024 - 2029)

The North America spice and herb extracts market is experiencing growth driven by increasing consumer awareness of health benefits and a rising demand for convenient food options. This market expansion is supported by the trade potential for small-scale farmers, particularly in the United States and Mexico, where local demand is significant. The production and trade of these extracts contribute substantially to the economy, with a notable portion of the market being fueled by exports.

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Market Size of North America Spice and Herb Extracts Industry

North America Spice & 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

North America Spice & Herb Extracts Market Major Players

*Disclaimer: Major Players sorted in no particular order

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 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
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North America Spice and Herb Extracts Market Size Summary

The North America spice and herb extracts market is experiencing significant growth, driven by increasing consumer awareness of health benefits and a rising demand for natural ingredients. This market is particularly promising for small-scale farmers in the United States and Mexico, who contribute substantially to both local and export markets. The growing preference for ready-to-cook and easy-to-prepare foods is further propelling the demand for spice and herb extracts in the region. Consumers are increasingly seeking new and ethnic flavors, prompting manufacturers like Kerry Group PLC and Firmenich SA to innovate and diversify their product offerings. This trend is evident in the rising popularity of bold flavors such as Kung-Pao and Teriyaki sauces, which are becoming staples in American cuisine.

The United States holds a dominant position in the North America spice and herb extracts market, with these extracts being integral to various applications in the food and beverage industry, particularly in bakeries. The demand for organic food products, including organic spice and herb extracts, is on the rise, reflecting a broader trend towards healthier eating habits. The market is characterized by a mix of major and local players, with companies like McCormick & Company Inc., Dohler Gmbh, and Kerry Group leading the charge. These players are actively engaging in strategies such as acquisitions, expansions, and new product launches to enhance their market share and meet the evolving consumer preferences.

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North America Spice and Herb Extracts Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Cinnamon

      2. 2.1.2 Cumin

      3. 2.1.3 Chili

      4. 2.1.4 Coriander

      5. 2.1.5 Cardamom

      6. 2.1.6 Oregano

      7. 2.1.7 Pepper

      8. 2.1.8 Ginger

      9. 2.1.9 Other Product Types

    2. 2.2 Application

      1. 2.2.1 Food Applications

      2. 2.2.2 Beverage Applications

      3. 2.2.3 Pharmaceuticals

    3. 2.3 Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

      4. 2.3.4 Rest of North America

North America Spice and Herb Extracts Market Size FAQs

The North America Spice and Herb Extracts Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)

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.

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