Spice & Herbs Extracts Market by Type (Essential Oils, Liquid Blends, Spice Seasonings & Blends), Product (Basil, Cardamom, Celery), Application - Global Forecast 2024-2030

Spice & Herbs Extracts Market by Type (Essential Oils, Liquid Blends, Spice Seasonings & Blends), Product (Basil, Cardamom, Celery), Application - Global Forecast 2024-2030

The Spice & Herbs Extracts Market size was estimated at USD 1.00 billion in 2023 and expected to reach USD 1.06 billion in 2024, at a CAGR 6.72% to reach USD 1.58 billion by 2030.

Spices and herbs extracts are highly concentrated forms of spices and herbs obtained through distillation, cold pressing, and solvent extraction. These extracts aim to preserve the flavors, aromas, and essential properties of the herbs and spices, making them more potent than their dried or fresh counterparts. Growing demand for spices and herbs from the commercial and household sectors and increasing demand for instant spice mixes as convenient choices in the food industry are positively influencing the market growth. Price pressures due to scarcity and limited supply of spices and herb extracts and issues associated with adulteration and contamination of spice derivatives limit the market demand. The emerging potential of organic herbal extracts and growing applications of spices and herbs in research activities for medicines present opportunities for producing higher quality, more sustainably sourced extracts.

Regional Insights

The United States stands out as a significant market for spices and herbs extracts in North America, driven by a growing demand for natural and organic ingredients in food, cosmetics, and pharmaceuticals. Consumer awareness about the health benefits of natural spices and herbs, coupled with high purchasing power, has propelled market growth. In South America, countries such as Brazil and Peru are notable for their production and export of indigenous herbs and spices. The local consumption and international demand for natural food flavorings and medicinal herbs support the market. Europe is a significant market, with a strong emphasis on food safety and quality standards, leading to increased demand for certified organic and non-GMO spices and herbs extracts. The Middle East and Africa regions are renowned for their historical trade in spices, with countries including Turkey, South Africa, and the UAE playing pivotal roles in production and trade. The diverse culinary traditions across EMEA have bolstered the demand for a wide range of spices and herb extracts, making it a vibrant market for traditional and exotic offerings. The Asia-Pacific region is India, China, and Southeast Asia's largest and most dynamic market for spices and herbs extracts. These regions are traditional producers of various spices and herbs, making them central to the global supply chain. Rapid urbanization, a burgeoning middle class, and a more significant emphasis on health and wellness have significantly boosted the demand for spices and herbs extracts in the APAC market. Food technology and packaging innovations in countries such as Japan and South Korea are also driveth.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Spice & Herbs Extracts Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing Demand for Spices and Herbs from the Commercial and Household Sectors
    • Increasing Demand for Instant Spice Mixes as Convenient Choice in the Food Industry
    • Market Restraints
      • Price Pressures due to Scarcity and Limited Supply of Spices and Herb Extracts
      • Market Opportunities
        • Emerging Potential of Organic Herbal Extracts
        • Growing Applications of Spices and Herbs in Research Activities for Medicines
        • Market Challenges
          • Issues Associated with Adulteration and Contamination of Spice Derivatives
          • Market Segmentation Analysis
            • Type: Growing preference of liquid blend for large-scale food and beverage manufacturing and cosmetic products
            • Application: Rising use of spice & herbs in the modern pharmaceuticals and nutraceuticals due to increasing consumer preference for natural over synthetic remedies
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Spice & Herbs Extracts Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Spice & Herbs Extracts Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Mccormick Introduces Flavor Maker Seasonings That Double As Toppings & Ingredients
              
              McCormick unveiled its new Flavor Maker Seasonings line, designed to enhance meals with a burst of flavor effortlessly. Crafted without additives using McCormick's high-quality spices, these blends include options such as Chicken, Veggie, Pasta, and more, catering to various culinary desires.
              
              Botanical Innovation Introduces Botanical’s Breath Microencapsulated Essential Oils
              
              Botanical Innovations introduces Botanical’s Breath, a line of microencapsulated essential oil powders. This innovative product range sets a new standard in the utilization of nutraceutical flavors, fragrances, and ingredients, marking a significant milestone in enhancing product functionality and sensory appeal. Leveraging advanced microencapsulation technology, these essential oil powders are engineered for controlled and prolonged release of active compounds, ensuring an unparalleled user experience.
              
              Univar Solutions and Kalsec Inc. Strengthen Partnership in Europe with Expanded Agreement for a Wide Range of Food Ingredient Solutions
              
              Univar Solutions and Kalsec Inc. are pleased to announce an enhanced distribution agreement that broadens their collaboration to France, Belgium, and the Netherlands. This exclusive arrangement empowers Univar Solutions to distribute Kalsec's comprehensive range of natural taste & sensory, color, and food protection solutions tailored for savory applications across the newly added European markets. Kalsec's products are derived from natural herbs, spices, and vegetables and are translated into easy-to-use liquid extracts.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Spice & Herbs Extracts Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Spice & Herbs Extracts Market, highlighting leading vendors and their innovative profiles. These include Ajinomoto Co., Inc., All-Season Herbs Pvt. Ltd., Archer Daniels Midland Company, Arjuna Natural Ltd., BM Ingredients Europe GmbH, Botanic Healthcare Group, British Pepper & Spice, Cosmark Pty Ltd., Döhler GmbH, Firmenich International SA, Givaudan SA, Huisong Pharmaceuticals, International Taste Solutions Ltd., Kalsec Inc., Kerry Group PLC, Lionel Hitchen Ltd., McCormick & Company, Incorporated, Naturalin Agricultural Development Co., Ltd., Olam Group Limited, Organic Herb Inc., Oterra A/S, Robertet SA, Sabinsa Corporation, Select Botanical, S.L., Sensient Technologies Corporation, Symrise AG, Takasago International Corporation, Universal Oleoresins, V & D Flavours & Fragrances, and Vidya Herbs Pvt. Ltd..
            
            Market Segmentation & Coverage
            
            This research report categorizes the Spice & Herbs Extracts Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Type
              • Essential Oils
              • Liquid Blends
              • Spice Seasonings & Blends
              • Product
                • Basil
                • Cardamom
                • Celery
                • Chili
                • Coriander
                • Cumin
                • Ginger
                • Oregano
                • Pepper
                • Thyme
                • Application
                  • Beverage
                    • Alcoholic Beverages
                    • Soft Drinks
                    • Tea & Herbal Drinks
                    • Food
                      • Dairy
                      • Dressings & Marinades
                      • Meat & Poultry
                      • Snacks
                      • Medicines
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year