Market Overview:
The global spice and herbs extracts market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for natural flavors and colors in food and beverage applications, as well as the rising awareness about the health benefits of spices and herbs extracts. The global spice and herbs extracts market is segmented on the basis of type, application, and region. On the basis of type, essential oils accounted for a major share of the global spice and herbs extracts market in 2017. This segment is projected to grow at a CAGR of 6% during the forecast period from 2018 to 2030 due to its growing demand in food applications across regions. Spice seasonings & blends are another key type segment in this market, which is projected to grow at a CAGR of 5% during 2018-2030 due its widespread use in various food applications such as bakery products, confectionery items etc.
Product Definition:
A spice is a dried seed, fruit, root, bark or other plant part used as a flavoring agent in food. Herbs are the leaves of plants used for flavoring or medicinal purposes. Extracts are preparations made from spices and herbs that contain the desired flavor compounds in concentrated form.
Extracts are important because they provide a way to add flavor to foods without using large quantities of spices or herbs. This is important because it helps to conserve these valuable ingredients and also allows for more flexibility in terms of flavor combinations.
Essential Oils:
Essential oils are the volatile fragrances that are extracted from plants by steam distillation or direct extraction methods. These oils have antioxidant, antimicrobial, anti-inflammatory and other medicinal properties. They can be used directly in diffusers or can be blended with other ingredients to produce therapeutic food and beverages, cosmetics and personal care products as well as pharmaceutical formulations.
Spice seasonings and blends:
Spice seasonings and blends are a group of flavoring agents that are derived from different spices and herbs. They provide the authentic taste to the food products. The blend of spices gives an excellent flavor to various types of meat, poultry, seafood, vegetables as well as sauces for cooking. Spice seasonings have varied applications in daily use at home and in restaurants or eateries.
Application Insights:
Food applications of spice and herb extracts accounted for the largest revenue share in 2017. The demand is rising with the growing preference for exotic flavors in food. Food processors use these products to enhance their product offerings, thereby attracting a larger consumer base.
The beverages application segment is expected to witness significant growth over the forecast period owing to an increase in consumption of functional drinks and juices across various regions including North America, Europe, Asia Pacific, Latin America. In addition, increasing health concerns among consumers are encouraging them to opt for healthier beverage options which also fuels market growth: Spice & herb extracts have a long history as medicine; they were used by native people throughout centuries ago for treating ailments such as colds & coughs along with other medicinal purposes (GS&HE).
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, Malaysia, Indonesia and Thailand. These countries are witnessing strong economic growth owing to various factors such as industrial development and urbanization resulting in an increase in disposable income of consumers along with a rise in their spending on food preparation. This trend is projected to have a positive impact on industry growth over the next eight years.
Europe accounted for more than 20% of share of the global market due to high demand from end-use industries such as food & beverage sector coupled with rising consumer awareness regarding health benefits associated with natural ingredients used for preparing meals at home rather than using synthetic additives or preservatives.
Growth Factors:
- Increasing demand for natural and organic products: The global spice and herbs extracts market is witnessing a shift towards the use of natural and organic ingredients. This is mainly due to the increasing awareness among consumers about the health benefits of using natural ingredients.
- Rising demand from emerging markets: The Asia Pacific region is expected to be the fastest-growing market for spice and herbs extracts during the forecast period. This can be attributed to the rising disposable income levels and growing consumer demand for premium quality products in these regions.
- Growing popularity of functional foods: The global spice and herbs extracts market is also benefiting from the growing popularity of functional foods, which are those that offer additional health benefits beyond basic nutrition. Spice and herb extracts are being increasingly used in functional food formulations as they help improve flavor, color, texture, shelf life, etc., while providing added health benefits such as improved digestion, weight management, etc..
- Technological advancements: There has been a significant increase in R&D spending by players operating in this market with a view to develop new extraction technologies that can help improve product quality while reducing production costs simultaneously .This is helping fuel growth in this market . 5) Expansion into untapped markets: A large number of players are expanding their presence into untapped markets across regions such as Latin America and Africa to capitalize on the high growth potential offered by these regions
Scope Of The Report
Report Attributes
Report Details
Report Title
Spice and Herbs Extracts Market Research Report
By Type
Essential Oils, Spice seasonings and blends, Liquid blends, Others
By Application
Food applications, Beverages applications
By Companies
Doehler, Universal Oleoresin, McCormick and Company, Sensient Technologies, Kerry Group, Ajinomoto, SHS group, Akay, Paprika Oleo’s, VD Flavours
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Spice and Herbs Extracts Market Report Segments:
The global Spice and Herbs Extracts market is segmented on the basis of:
Types
Essential Oils, Spice seasonings and blends, Liquid blends, Others
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, Beverages applications
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:
- Doehler
- Universal Oleoresin
- McCormick and Company
- Sensient Technologies
- Kerry Group
- Ajinomoto
- SHS group
- Akay
- Paprika Oleo’s
- VD Flavours
Highlights of The Spice and Herbs Extracts 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:
- Essential Oils
- Spice seasonings and blends
- Liquid blends
- Others
- By Application:
- Food applications
- Beverages applications
- 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 Herbs Extracts 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:
- Correctly Positioning New Products
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- Consumer Insights
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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 extracts are a type of natural supplement that is made from the dried leaves, flowers, or fruits of plants. These extracts can be used to add flavor to food or as supplements for health purposes.
Some of the major players in the spice and herbs extracts market are Doehler, Universal Oleoresin, McCormick and Company, Sensient Technologies, Kerry Group, Ajinomoto, SHS group, Akay, Paprika Oleo¢â‚¬â„¢s, VD Flavours.
The spice and herbs extracts market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Spice and Herbs Extracts Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Spice and Herbs Extracts Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Spice and Herbs Extracts Market - Supply Chain
4.5. Global Spice and Herbs Extracts Market Forecast
4.5.1. Spice and Herbs Extracts Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Spice and Herbs Extracts Market Size (000 Units) and Y-o-Y Growth
4.5.3. Spice and Herbs Extracts Market Absolute $ Opportunity
5. Global Spice and Herbs Extracts Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Spice and Herbs Extracts Market Size and Volume Forecast by Type
5.3.1. Essential Oils
5.3.2. Spice seasonings and blends
5.3.3. Liquid blends
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Spice and Herbs Extracts Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Spice and Herbs Extracts Market Size and Volume Forecast by Application
6.3.1. Food applications
6.3.2. Beverages applications
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Spice and Herbs Extracts Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Spice and Herbs Extracts Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Spice and Herbs Extracts Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Spice and Herbs Extracts Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Spice and Herbs Extracts Demand Share Forecast, 2019-2026
9. North America Spice and Herbs Extracts Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Spice and Herbs Extracts Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Spice and Herbs Extracts Market Size and Volume Forecast by Application
9.4.1. Food applications
9.4.2. Beverages applications
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Spice and Herbs Extracts Market Size and Volume Forecast by Type
9.7.1. Essential Oils
9.7.2. Spice seasonings and blends
9.7.3. Liquid blends
9.7.4. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Spice and Herbs Extracts Demand Share Forecast, 2019-2026
10. Latin America Spice and Herbs Extracts Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Spice and Herbs Extracts Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Spice and Herbs Extracts Market Size and Volume Forecast by Application
10.4.1. Food applications
10.4.2. Beverages applications
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Spice and Herbs Extracts Market Size and Volume Forecast by Type
10.7.1. Essential Oils
10.7.2. Spice seasonings and blends
10.7.3. Liquid blends
10.7.4. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Spice and Herbs Extracts Demand Share Forecast, 2019-2026
11. Europe Spice and Herbs Extracts Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Spice and Herbs Extracts Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Spice and Herbs Extracts Market Size and Volume Forecast by Application
11.4.1. Food applications
11.4.2. Beverages applications
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Spice and Herbs Extracts Market Size and Volume Forecast by Type
11.7.1. Essential Oils
11.7.2. Spice seasonings and blends
11.7.3. Liquid blends
11.7.4. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Spice and Herbs Extracts Demand Share, 2019-2026
12. Asia Pacific Spice and Herbs Extracts Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Spice and Herbs Extracts Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Spice and Herbs Extracts Market Size and Volume Forecast by Application
12.4.1. Food applications
12.4.2. Beverages applications
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Spice and Herbs Extracts Market Size and Volume Forecast by Type
12.7.1. Essential Oils
12.7.2. Spice seasonings and blends
12.7.3. Liquid blends
12.7.4. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Spice and Herbs Extracts Demand Share, 2019-2026
13. Middle East & Africa Spice and Herbs Extracts Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Spice and Herbs Extracts Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Spice and Herbs Extracts Market Size and Volume Forecast by Application
13.4.1. Food applications
13.4.2. Beverages applications
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Spice and Herbs Extracts Market Size and Volume Forecast by Type
13.7.1. Essential Oils
13.7.2. Spice seasonings and blends
13.7.3. Liquid blends
13.7.4. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Spice and Herbs Extracts Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Spice and Herbs Extracts Market: Market Share Analysis
14.2. Spice and Herbs Extracts Distributors and Customers
14.3. Spice and Herbs Extracts Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Doehler
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Universal Oleoresin
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. McCormick and Company
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Sensient Technologies
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kerry Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Ajinomoto
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SHS group
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Akay
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Paprika Oleos
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. VD Flavours
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
