A recent report published by
Infinium Global Research on spice and herbs extracts market provides in-depth
analysis of segments and sub-segments in the global as well as regional spice
and herbs extracts market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional spice and herbs
extracts market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of global
spice and herbs extracts market. According to the report, 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 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.
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.
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.
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.
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.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of spice and herbs extracts market. Moreover, the study highlights
current market trends and provides forecast from 2019-2025. We also have
highlighted future trends in the market that will affect the demand during the
forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.