Spice and Herb Extracts Market Growth, Trends and Forecasts (2019 - 2024)

Global spice and herbal extracts market is segmented by source type into Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme and Others; By Application into Food Applications, Beverage Applications and Pharmaceuticals and Geography.

Market Snapshot

spice and herb extracts market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Europe

Largest Market:

Asia Pacific

CAGR:

7.1%

Key Players:

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Spice and Herb Extracts Market

The global spice and herb extracts market is projected to grow at a CAGR of 7.1% during the forecast period.
  • The seasonings and spices industry continues to adapt to consumer choices for variety, convenience, wellness attributes, food safety and value, increasing demands from retail and foodservice division customers, and the pressures of global competition.
  • Increasing scarcity for spices and herb extracts is leading to high prices and an increased scope for adulterants in the market. The price imbalance and low availability may attract several new suppliers with cheaper and unscrupulous alternatives.

Scope of the Report

Global spice and herbal extracts market is segmented by source type into Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme and Others; By Category into Essential Oils and Oleoresins, Seasonings, Blends and Other Products; By Application into Food Applications, Beverage Applications and Pharmaceuticals and Geography.

By Product Type
Celery
Cumin
Chili
Coriander
Cardamom
Oregano
Pepper
Basil
Ginger
Thyme
Cinnamon
Other Types
By Application
Food Applications
Beverage Applications
Pharmaceuticals
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Key Market Trends

Changing Foodservice Industry

The eating out practice is part of the modern lifestyle and the foodservice industry is developing rapidly all over Europe. It accounts for ~20% of the global foodservice market. The most demanded cuisines include Thai, Vietnamese, Chinese, and Indian cuisines, which use a wide variety of spices and seasonings in their preparation, including pepper, cardamom, ginger, nutmeg, anise, fennel, etc. Europe is the second consumption area in the world after North America, the European market is showing great potential for further development. The European demand for spices and herbs continues to grow. This is due to trends such as healthy living, interest in new tastes, convenience and sustainability. Consumers' preferences are more multifaceted than ever and the foodservice concepts are more and more diversified to respond to customers' expectations for more functionality, convenience, naturalness, freshness, healthy food, ethnic food, local sourcing, sustainability, and, more globally, the 'eating out experience’.

Spice and Herb Extracts 1

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Europe has the Largest Market Share

Europe is the largest market for spice and herbs extracts globally. Despite low production, Europe is much inclined towards the import of spice, herbs and their extracts from developing region such as Asia-Pacific and the Middle East and Africa. About 97% of the total imported spice & herbs come from developing countries. On a global scale, Europe is a mature market for spice and herb extracts and the growth rate is comparatively slower than other regions. The European demand for spices is growing mostly due to interest in new tastes and healthy living.

Spice and Herb Extracts 2

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Competitive Landscape

The major companies in seasonings and spices, position their product line through multiple retail channels, convenience stores, and e-commerce channels in the global market as a strategy to directly penetrate the consumer market. This is a fragmented market which consists of the following players like McCormick & Company, Inc, All-Season Herbs, Kerry Group plc, Döhler Gmbh and Firmenich SA . McCormick increased the level of spice and seasoning new products in 2017. In the Asia Pacific Zone (APZ), the company launched a ‘Gourmet Garden®’ re-sealable pouch of lightly dried herbs and seasonings in Australia and spice mixes in India.

Major Players

  1. McCormick & Company, Inc
  2. All-Season Herbs
  3. Kerry Group plc
  4. Döhler Gmbh
  5. Firmenich SA

* Complete list of players covered available in the table of contents below

spice and herb extracts market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Celery

      2. 5.1.2 Cumin

      3. 5.1.3 Chili

      4. 5.1.4 Coriander

      5. 5.1.5 Cardamom

      6. 5.1.6 Oregano

      7. 5.1.7 Pepper

      8. 5.1.8 Basil

      9. 5.1.9 Ginger

      10. 5.1.10 Thyme

      11. 5.1.11 Cinnamon

      12. 5.1.12 Other Types

    2. 5.2 By Application

      1. 5.2.1 Food Applications

      2. 5.2.2 Beverage Applications

      3. 5.2.3 Pharmaceuticals

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Italy

        4. 5.3.2.4 Spain

        5. 5.3.2.5 France

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 McCormick & Company, Inc

      2. 6.4.2 All-Season Herbs

      3. 6.4.3 Kerry Group plc

      4. 6.4.4 Dohler Gmbh

      5. 6.4.5 Firmenich SA

      6. 6.4.6 Olam International

      7. 6.4.7 Sensient Colors LLC

      8. 6.4.8 Givaudan

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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