The global demand for Spices and Herbs Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Spices and herbs are widely used as a flavouring, colouring, and aromatic additives in the food and beverage industry. Spices and herbs provide various health benefits, including decreasing blood sugar, improving brain function, increasing immunity, and having anti-inflammatory effects. Spices and herbs are also high in critical vitamins and minerals, making them an important food element for preparing various foods that are both tasty and beneficial to one's health. The scent, flavour, and colour of the dishes are also influenced by these substances. Spices and herbs are also flexible culinary ingredients because they can be utilised in a number of dishes. Seasonings, flavourings, salad dressings, beverage formulations, and a variety of other uses for spices and herbs can be found across the foodservice business. As a result of their diverse applications, these gourmet components are becoming increasingly popular.
Market Dynamics
Organic spice and herb demand are being driven by rising health consciousness among consumers and a growing interest in unique flavours. Herbs and spices are utilised in the pharmaceutical sector to make a variety of medical medicines for ailments like cough, malaria, and diarrhoea, among others. Furthermore, they are frequently utilised in personal care products, such as skincare, haircare, facecare, oil, etc. As a result, the demand for herbs and spices in the market increases. Herbs and spices are projected to increase as ethnic cooking becomes more popular and spices become more readily available in supermarkets. Furthermore, high spice and herb manufacturing expenses, particularly organic spices and herbs, would be a stumbling block to market expansion.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of spices and herbs. The growth and trends of spices and herbs industry provide a holistic approach to this study.
Market Segmentation
This section of the spices and herbs market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product
- Herbs (Rosemary, Fennel, Garlic, Mint, Parsley, Oregano, Others)
- Salt & Salts Substitutes
- Spices (Pepper, Ginger, Cinnamon, Cumin, Turmeric, Cardamom, Coriander, Cloves, Others)
By Application
- Bakery & Confectionery Products
- Meat & Poultry Products
- Frozen Food
- Soups, Sauces, & Dressings
- Beverages
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Spices and Herbs market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Spices and Herbs Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the spices and herbs market include Ajinomoto Co Inc., ARIAKE JAPAN CO, LTD., Associated British Foods plc, Kerry Group, McCormick & Company Inc., Baria Pepper, Dohler Group, DS Group, Everest Spices, Bart Ingredients. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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