Market Overview:
The global spice and herb extract market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for natural flavors and fragrances across different applications, such as food, beverage, and pharmaceuticals. In addition, the growing awareness about the health benefits of consuming spices and herbs is also contributing to the growth of this market. The global spice and herb extract market can be segmented on the basis of type into cinnamon, cumin, chili pepper, coriander seed oil/leaf oil/fruit oil), cardamom seed/pod oil), oregano leaf oil), pepper (black pepper fruit oleoresin/white pepper fruit oleoresin), ginger root powder) and other product types. The food applications segment is expected to account for a major share of the global spice and herb extract market in 2018 owing to its large consumer base across different regions. However, with rising awareness about healthy eating habits among consumers worldwide, there is an increasing demand for spices extracts in beverage applications as well. This trend is expected to continue during the forecast period from 2018-2030.
Product Definition:
A spice is a dried seed, fruit, root, bark or vegetable substance used in nutritionally insignificant quantities as a food additive to enhance flavor. Many common spices are obtained from the plant kingdom. Herbs are the leaves of plants used for flavoring or medicinal purposes. Extracts are solutions made by soaking parts of plants in water or alcohol and then pressing out the liquid. The resulting extract contains concentrated flavor and medicinal properties of the plant material used.
Cinnamon:
Cinnamon is a spice that has been used by humans for thousands of years. It is the dried, aromatic bark of several tree species, from the family Cassia. Several varieties are available in the market today and can be used fresh or ground into a powder. The powdered form finds its major application in bakery products such as cookies and cakes as it helps enhance their flavor as well as appearance.
Cumin:
Cumin is the seed of the herbaceous plant called cumino, which is native to South America and Mexico. The seeds are used for culinary purposes like any other spice. However, it has a distinct flavor and aroma that sets it apart from other spices. It imparts a warm, nutty flavor with earthy undertones that blends well with numerous cuisines across the world.
Application Insights:
Food applications of the product dominated the global industry, accounting for more than 70.0% share of the overall revenue in 2017. The segment is expected to witness significant growth over the forecast period owing to rising demand from various food processing industries including bakery, dairy and frozen products.
The beverage application segment is projected to expand at a CAGR of XX% over the forecast period due to increasing use in manufacturing functional beverages and juices as well as soft drinks and alcoholic drinks such as wine cooler, spritzer and beer respectively containing flavorings that impart unique taste experiences enhancing consumer appeal leading to higher consumption rates which are estimated to drive industry growth over next seven years or so.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region is home to several emerging economies, including China, India, Thailand and Malaysia. These countries are among the largest consumers of spices and herbs across the globe owing to their large consumer base as well as high spending power. Moreover, increasing demand for ethnic foods coupled with rising health awareness will drive regional growth over the forecast period.
Europe was valued at USD X billion in 2017 owing to growing consumption of food products infused with flavors from other regions around the world along with a preference for authentic taste across various cuisines prevalent in this region especially Italy.
Growth Factors:
- Increasing demand for natural and organic products: The global spice and herb extract market is expected to grow at a CAGR of 6.5% from 2016 to 2021, owing to the increasing demand for natural and organic products.
- Rising awareness about the health benefits of spices: There is a growing awareness among consumers about the health benefits of spices, which is driving the demand for spice and herb extracts.
- Growing popularity of functional foods: The popularity of functional foods is another key growth driver for the global spice and herb extract market, as these foods are enriched with health-promoting nutrients derived from spices and herbs.
- Rapid urbanization in developing countries: The rapid urbanization in developing countries is leading to an increase in disposable income levels, which is fueling the demand for processed food items that contain spice and herb extracts.
Scope Of The Report
Report Attributes
Report Details
Report Title
Spice and Herb Extract Market Research Report
By Type
Cinnamon, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Ginger, Other Product Types
By Application
Food Applications, Beverage Applications, Pharmaceuticals
By Companies
McCormick & Company Inc, Kerry Group plc, Nantong Sihai Plant Extracts Co. Ltd, Döhler, Langdon Ingredients, Organic Herb Inc, Phyto Life Sciences P. Ltd, Kalsec Inc, All-Season Herbs, Firmenich SA, Olam International, Sensient Colors LLC, Givaudan
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
135
Number of Tables & Figures
95
Customization Available
Yes, the report can be customized as per your need.
Global Spice and Herb Extract Market Report Segments:
The global Spice and Herb Extract market is segmented on the basis of:
Types
Cinnamon, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Ginger, Other Product Types
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food Applications, Beverage Applications, Pharmaceuticals
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- McCormick & Company Inc
- Kerry Group plc
- Nantong Sihai Plant Extracts Co. Ltd
- Döhler
- Langdon Ingredients
- Organic Herb Inc
- Phyto Life Sciences P. Ltd
- Kalsec Inc
- All-Season Herbs
- Firmenich SA
- Olam International
- Sensient Colors LLC
- Givaudan
Highlights of The Spice and Herb Extract Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Cinnamon
- Cumin
- Chili
- Coriander
- Cardamom
- Oregano
- Pepper
- Ginger
- Other Product Types
- By Application:
- Food Applications
- Beverage Applications
- Pharmaceuticals
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Spice and Herb Extract Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Spice and herb extract is a concentrated blend of spices and herbs. It is used as a flavoring agent in food, cosmetics, and other products.
Some of the major companies in the spice and herb extract market are McCormick & Company Inc, Kerry Group plc, Nantong Sihai Plant Extracts Co. Ltd, D¶hler, Langdon Ingredients, Organic Herb Inc, Phyto Life Sciences P. Ltd, Kalsec Inc, All-Season Herbs, Firmenich SA, Olam International, Sensient Colors LLC, Givaudan.
The spice and herb extract market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Spice and Herb Extract Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Spice and Herb Extract Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Spice and Herb Extract Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Spice and Herb Extract Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Spice and Herb Extract Market Size & Forecast, 2020-2028
4.5.1 Spice and Herb Extract Market Size and Y-o-Y Growth
4.5.2 Spice and Herb Extract Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Cinnamon
5.2.2 Cumin
5.2.3 Chili
5.2.4 Coriander
5.2.5 Cardamom
5.2.6 Oregano
5.2.7 Pepper
5.2.8 Ginger
5.2.9 Other Product Types
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Food Applications
6.2.2 Beverage Applications
6.2.3 Pharmaceuticals
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Spice and Herb Extract Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Spice and Herb Extract Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Cinnamon
9.6.2 Cumin
9.6.3 Chili
9.6.4 Coriander
9.6.5 Cardamom
9.6.6 Oregano
9.6.7 Pepper
9.6.8 Ginger
9.6.9 Other Product Types
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Food Applications
9.10.2 Beverage Applications
9.10.3 Pharmaceuticals
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Cinnamon
10.6.2 Cumin
10.6.3 Chili
10.6.4 Coriander
10.6.5 Cardamom
10.6.6 Oregano
10.6.7 Pepper
10.6.8 Ginger
10.6.9 Other Product Types
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Food Applications
10.10.2 Beverage Applications
10.10.3 Pharmaceuticals
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Cinnamon
11.6.2 Cumin
11.6.3 Chili
11.6.4 Coriander
11.6.5 Cardamom
11.6.6 Oregano
11.6.7 Pepper
11.6.8 Ginger
11.6.9 Other Product Types
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Food Applications
11.10.2 Beverage Applications
11.10.3 Pharmaceuticals
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Cinnamon
12.6.2 Cumin
12.6.3 Chili
12.6.4 Coriander
12.6.5 Cardamom
12.6.6 Oregano
12.6.7 Pepper
12.6.8 Ginger
12.6.9 Other Product Types
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Food Applications
12.10.2 Beverage Applications
12.10.3 Pharmaceuticals
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Cinnamon
13.6.2 Cumin
13.6.3 Chili
13.6.4 Coriander
13.6.5 Cardamom
13.6.6 Oregano
13.6.7 Pepper
13.6.8 Ginger
13.6.9 Other Product Types
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Food Applications
13.10.2 Beverage Applications
13.10.3 Pharmaceuticals
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Spice and Herb Extract Market: Competitive Dashboard
14.2 Global Spice and Herb Extract Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 McCormick & Company Inc
14.3.2 Kerry Group plc
14.3.3 Nantong Sihai Plant Extracts Co. Ltd
14.3.4 Döhler
14.3.5 Langdon Ingredients
14.3.6 Organic Herb Inc
14.3.7 Phyto Life Sciences P. Ltd
14.3.8 Kalsec Inc
14.3.9 All-Season Herbs
14.3.10 Firmenich SA
14.3.11 Olam International
14.3.12 Sensient Colors LLC
14.3.13 Givaudan
