The market for spice and herb extracts consists of celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme and other types of herb extracts. These extracts are concentrated solutions made by extracting (pulling or "washing") the herb's chemical constituents out of the inert herb fiber (cellulose) with a solution of alcohol and water or glycerin and water.
They are available in both, tincture and powdered form, and are in high demand for their flavoring, seasoning and aromatic attributes. The market has a good trade potential, especially for small-scale farmers in regions like Asia-Pacific, where climatic conditions are favorable, and there is a significant local demand for spice and herb extracts. A large proportion of extracts traded in both, local and export markets, are produced by small-scale farmers.
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.
Some of the major players capturing the spice and herb extract market include
Synthite Industries Ltd.
Increased Availabilty of International Cuisines in the Major Economies.
Shifting Consumer Focus Towards Natural Products
Increasing Demand for Convenience Foods
Inefficient Processing Techniques and Adulteration
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