The market has a good trade potential, especially for small-scale farmers in regions like Germany, the UK, France and the Netherlands where a significant local demand exists for spice and herb extracts. A large proportion of extracts traded in both, local and export markets, are produced by small-scale farmers, and the global trade provides them with multi-billion US dollar earnings.
The key drivers leading to the growth of the spice and herb extract markets are the increased availability of international cuisines in the major economies, shifting consumer focus towards natural products and increasing demand for convenience foods. Many companies, like Doehler, are focusing on natural herb & spice extracts as they are becoming popular in every segment of the food and beverage industry and offer plenty of scope for new and attractive taste creations.
The spice and herb extract market is segmented by type, product type, and application. By type, spice and herb extracts are further segmented into celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme and other types of extracts. By product type, the market is sub-segmented into essential oils, seasonings, blends and others type of spice and herb extract based products. The major demand is for chilly and pepper extracts, which are mostly used in convenience and street foods.
Spice and herb extracts have their applications in the food, beverage and pharmaceutical industries. In the food segment, they are used in dairy, dressings and marinades, meat and poultry, snacks and others. In beverages, they are used in soft drinks, tea and herbal drinks, alcoholic beverages, and other applications. For example, herbal extracts are added to lassi, an Indian curd-based drink that is sold worldwide. Market Dynamics
Increased Availabilty of International Cuisines in the Major Economies.
Shifting Consumer Focus Towards Natural Products
Increasing Demand for Convenience Foods
Inconsistencies in the Prices of Spices and Herbs
Availability of Substitute Products
Positive Prospects for Small and Medium-Sized Exporters by Adopting Sustainability Measures
Increasing Demand for Flavor Variation in the Food Products
Growing Number of Aging Population
Key Topics Covered:
2. Research Approach & Methodology
3. Key Findings
4. Market Dynamics
5. Market Segmentation
6. Competitive Landscape
7. Company Profiles
- Alkaloids Corporation - All-Season Herbs Pvt. Ltd - Cosmark Pty Ltd - Döhler Gmbh - Firmenich Sa - Indena S.P.A. - Kalsec® Inc - Mccormick & Company, Inc. - Naturex Sa - Olam - Organic Herb Inc - Prinova Group Llc. - Synthite Industries Ltd. - The British Pepper And Spice Company Ltd - Worlée Gruppe