The latest report on “Spice and Herbs Extracts Market (Spices and Herbs – Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme, and Others; Products – Essential Oils, Spice Seasonings and Blends, Liquid Blends, and Others; Applications – Food Applications, and Beverages Applications): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global spice and herbs extracts market is projected to grow at a CAGR of 7.5% over the forecast period of 2019-2025.
Spice and Herbs Extracts Market: Insight
Spice and herb extracts are playing an important role in the processed food industry. The manufacturers of prepared foods and food ingredients rely on spice and herbs extracts for consistent, natural and reproducible flavor, aroma and color. The global food and beverage industry is witnessing a rapid change in eating preferences among consumers and demand for botanical flavors is on the rise at a rapid pace. Spice and herbs extracts are demanded extracts to add flavors and innovate recipes in food and beverage applications.
Increasing Demand for Variations in Flavored Food Products is Creating a Growth Opportunity for Spice and Herbs Extracts Market
The global spice and herbs extracts market have experienced steady but sluggish growth in the world market, spice extracts and herbs extracts have seen an upward demand in the world market. This is mainly due to continuous developments in the recipes and beverage flavors. This is driving the growth of spice and herbs extracts market. Further, increasing preference for botanical flavors among consumers, an increasing number of consumers eating out, and a wide range of applications of spices and herbs extracts are propelling the demand for the market.
Additionally, growing awareness about medicinal properties of herbs and spice extracts coupled with their usage in innovative food recipes and growing popularity of international cuisines in various countries are providing a significant growth to the spice and herbs extracts market. However, inconsistencies in the prices of spices and herbs and the high cost of production are effecting to the growth of this market. Moreover, increasing demand for variations in flavored food products is creating a growth opportunity for spice and herbs extracts market.
Asia Pacific Region is Expected to Grow at the Highest CAGR Over the Forecast Period
Among the geographies, the Asia Pacific region is expected to grow at the highest CAGR over the forecast period owing to suitable climatic conditions to cultivate spice and herbs, presence of major suppliers from countries such as India, and China and high consumption. Further, the growing popularity of street food culture in this region contributes to the growth of the market.
Spice and Herbs Extracts Market: Segmentation
The report on global spice and herbs extracts market covers segments such as spices and herbs, products, and applications. On the basis of spices and herbs, the sub-markets include celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme, and others. On the basis of products, the sub-markets include essential oils, spice seasonings and blends, liquid blends, and others. On the basis of applications, the sub-markets include food applications, and beverages applications.
Spice and Herbs Extracts Market: Competitive Landscape
The report provides profiles of the companies in the market such as Doehler, Universal Oleoresin, McCormick and Company, Sensient Technologies, Kerry Group, Ajinomoto, SHS group, Akay, Paprika Oleo’s, and VD Flavours.
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Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the spice and herbs extracts.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
