Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Spice and Herb Extracts Market Size is Expected to Grow from USD 3.33 Billion in 2023 to USD 5.18 Billion by 2033, at a CAGR of 4.52% during the forecast period 2023-2033.
Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the Global Spice And Herb Extracts Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme, and Other Types), By Application (Food Applications, Beverage Applications, and Pharmaceuticals), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The manufacturing and distribution of concentrated extracts made from spices and herbs are part of the spice and herb extracts market. In a variety of industries, including food, drinks, pharmaceuticals, and cosmetics, these extracts are utilized for their inherent flavors, colors, and medicinal qualities. The market highlights the use of the inherent advantages of spices and herbs to offer healthier substitutes for artificial additives. The growing need for convenience meals and the expanding availability and popularity of international cuisine in several nations are key factors anticipated to drive the market for spices and herb extracts during the forecast period. The market for spices and herb extracts is expected to rise as a result of growing awareness of the therapeutic benefits of these products. The market for spices and herb extracts is expected to grow more slowly due to the increasing use of creative cooking techniques and tourism growth. However, the market expansion for spices and herb extracts can be further restricted by inadequate infrastructure and inefficient processing methods.
The pepper segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the product type, the spice and herb extracts market is classified into celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme, and others. Among these, the pepper segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. One of the most popular spices in the world, pepper is utilized in cooking as well as in a variety of industries, including food, drink, and medicine. A major component of the industry, pepper is in high demand worldwide due to its versatility and crucial function in boosting flavor.
The food application segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the application, the spice and herb extracts market is divided into food applications, beverage applications, and pharmaceuticals. Among these, the food application segment held the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. The growing need for processed and ready-to-eat meals globally as well as consumers' growing preference for natural, organic, and functional ingredients in food applications driving the expansion of the segment.
North America is estimated to hold the highest share of the spice and herb extracts market over the forecast period.
North America is estimated to hold the highest share of the spice and herb extracts market over the forecast period. There is an increasing demand for natural and organic ingredients in food and beverages, as well as in health and wellness products. Spice and herb extracts are often considered healthier alternatives to artificial flavorings, preservatives, and colorings. North America is witnessing an upsurge in the consumption of functional foods, which go beyond basic nutrition by providing health benefits. Many spice and herb extracts are known for their medicinal properties and are added to the products.
Asia Pacific is expected to grow at a rapid pace in the global spice and herb extracts market during the forecast period. Asia Pacific is home to many widely used spices and herbs, like turmeric, ginger, cardamom, and pepper. Traditionally, this region has utilized these extracts for both culinary purposes and medicinal and wellness applications. This demand also includes herbs and spices due to consumer awareness relating to the medicinal and healthful effects of those ingredients in those markets, particularly in a country like India, China, or Japan, with natural plant-based food, beverage, and wellness applications.
Company Profiling
Major key players in the spice and herb extracts market include Givaudan, Kalsec, Naturex, Dva Ingredients, Kraft Heinz, Sanford Scientific, Agrana, McCormick Company, Sensient Technologies, Firmenich, Olam International, Blockhead, Associated British Foods, Symrise and Others.
Key Target Audience
Recent Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the spice and herb extracts market based on the below-mentioned segments:
Global Spice and Herb Extracts Market, By Product Type
Global Spice and Herb Extracts Market, By Application
Global Spice and Herb Extracts Market, By Regional Analysis
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