Market Trends of North America Spice and Herb Extracts Industry
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.
