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

Spice & Herbs Extracts Market
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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 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

    Essential oils are concentrated plant extracts that maintain the natural fragrance and flavor, or "essence," of their source. These are obtained through distillation or mechanical methods, such as cold pressing. Essential oils are widely used in aromatherapy, food flavorings, cosmetics, and medicine due to their potent and concentrated nature. Liquid blends are combinations of various extracts and oils to create complex flavors and aromas in a convenient liquid form. These blends offer consistency in taste and aroma and are extensively used in food and beverage, cosmetics, and pharmaceutical industries. Spice seasonings & blends include dry mixtures of ground spices and herbs designed to enhance food flavor. These blends can vary greatly in terms of ingredients and proportions, offering a wide range of flavor profiles for different culinary needs. When comparing essential oils, liquid blends, and spice seasonings & blends, it's important to consider the application, convenience, and desired outcome. Essential oils are highly concentrated, making them suitable for products where a strong aroma or flavor is desired in small quantities. Liquid blends offer the advantage of being easy to mix, providing consistency and convenience for large-scale production. Spice seasonings & blends are versatile and easy to store, making them ideal for various culinary applications.

  • Application: Rising use of spice & herbs in the modern pharmaceuticals and nutraceuticals due to increasing consumer preference for natural over synthetic remedies

    Spice and herb extracts are increasingly popular in the beverage industry, offering a variety of flavors and health benefits that cater to consumers' evolving preferences. These natural extracts are used in soft drinks, alcoholic drinks, teas, and energy drinks. Beverage manufacturers are incorporating turmeric, ginger, and cinnamon extracts for their antioxidative and anti-inflammatory properties. The food segment leverages spice and herb extracts to enhance flavors and extend shelf life naturally due to their antibacterial properties. These extracts find applications in sauces, meat products, snacks, and convenience food. Consumers' increasing interest in ethnic cuisines and clean-label products drives demand in this category. In the medicinal field, spice and herb extracts are utilized for their therapeutic properties, including pain relief, anti-inflammatory responses, and digestive health benefits. Traditional medicine systems such as Ayurveda have long championed using these natural extracts. When comparing the application segments, it's evident that while the beverage and food industries predominantly utilize spice and herbs extracts for flavor enhancement and shelf-life extension, the medicines sector focuses on these extracts' health benefits and therapeutic properties. Consumer interest in exotic flavors and clean labels drives the demand in the beverage and food sectors. In contrast, in the medicinal sector, the preference is towards natural and effective wellness solutions.

Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Spice & Herbs Extracts Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Spice & Herbs Extracts Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Spice & Herbs Extracts Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Spice & Herbs Extracts Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Spice & Herbs Extracts Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Spice & Herbs Extracts Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Spice & Herbs Extracts Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Spice & Herbs Extracts Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Spice & Herbs Extracts Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Spice & Herbs Extracts Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

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. [Published On: 2024-01-23]

  • 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. [Published On: 2023-08-18]

  • 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. [Published On: 2023-08-10]

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..

Spice & Herbs Extracts Market - Global Forecast 2024-2030
To learn more about this report, request a free PDF copy
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

This research report offers invaluable insights into various crucial aspects of the Spice & Herbs Extracts Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Spice & Herbs Extracts Market, by Type
  7. Spice & Herbs Extracts Market, by Product
  8. Spice & Herbs Extracts Market, by Application
  9. Americas Spice & Herbs Extracts Market
  10. Asia-Pacific Spice & Herbs Extracts Market
  11. Europe, Middle East & Africa Spice & Herbs Extracts Market
  12. Competitive Landscape
  13. Competitive Portfolio
  14. List of Figures [Total: 22]
  15. List of Tables [Total: 482]
  16. List of Companies Mentioned [Total: 30]
New spices & herbs to bring goodness that every plate deserves!
June 7, 2023
INSIGHT
New spices & herbs to bring goodness that every plate deserves!
Consumer preference for flavorful delicacies and ethnic foods with inherently complex and sophisticated taste profiles are on the rise, building a foundation for vendors worldwide to create unique spice & herb extract combinations.

The spice trade in 2020 amounted to USD 3.61 billion, led by the flavor nations of China, India, Germany, and Turkey, and this number has only flown higher since then.

The authentic ethnic flavors based on Asian, American, Mediterranean, Indian, and Mexican cuisines are stepping toward the fusion era, where they meet each other to form a diverse set of taste magic for your relish.

With the highest quality sourcing being the new focus of the spice extracts industry, initiatives like the Sustainable Spices Initiative (SSI) strive for completely sustainable spice production and export in the sector.

The spice & herb extracts sector has scooped plenty of private and public investments and grants to flourish the research activities for developing new, viable flavors.

In April 2022, Manipal Natural, an ingredient supplier specializing in botanical extracts, received approval and a grant from the Indian Ministry of Commerce and Industry’s Spice Board to create an extract from spent turmeric for use as a dietary/food supplement.

New interests of the vendors are in bringing non-GMO spice & herb ingredients, containing no artificial colors or flavors, and are gluten-free.

As holidays, festivals, weddings, and any event of happiness, seeking fulfillment in tastes, herbs, spices & extracts are always the heroes. This season like every other, you’ll find your comfort in food, medicine, and wellness, but maybe they’ll have a different aroma and zest, one to cherish for all the years to come!

The Growing Popularity of Spice & Herb Extracts in the Food Industry
October 20, 2023
BLOG
The Growing Popularity of Spice & Herb Extracts in the Food Industry
In today's fast-paced world, people are constantly looking for quick and convenient options, and the food industry is no exception, which has led to increased demand for instant spice mixes and herb extracts that can be used easily in everyday cooking. Thanks to the rise in popularity of spice and herb extracts, the food industry can now provide its customers with a wide range of options catering to their varying tastes and preferences.

Convenience:

One of the biggest reasons for the popularity of spice and herb extracts is their convenience. They allow people to add flavor to their cooking without the hassle of chopping, grinding, or crushing herbs and spices. All you need to do is add the required amount of the extract to your dish, and you are good to go. This saves you a lot of time and effort, making it the perfect option for busy individuals who still want to cook delicious and flavorful meals.

Consistency:

Another advantage of spice and herb extracts is that they provide a consistent flavor every time. When you use fresh herbs and spices, the flavor can vary depending on the quality of the ingredient, the way it was stored, and how it was prepared. With extract, however, you get the same flavor each time you use it, making it a reliable option for chefs and food industry professionals who strive for consistency in their dishes.

Versatility:

Extracts are also versatile and can be used in a variety of dishes. They are not limited to traditional dishes but can also be used in new and innovative recipes. Companies are now experimenting with different combinations of extracts to create unique flavors that appeal to their customers. This versatility has made extracts a go-to option for chefs looking to add a unique twist to their dishes.

Longer Shelf-Life:

Extracts have a longer shelf-life when compared to fresh herbs and spices, making them an excellent option for food industry professionals who need to store large quantities of ingredients. Extracts can be stored longer without losing their freshness or flavor, eliminating the need for frequent restocking and reducing food waste.

Health Benefits:

Spice and herb extracts also have health benefits. Many extracts contain antioxidants and anti-inflammatory properties that can provide numerous health benefits when consumed regularly. These benefits have made extracts popular in wellness products and dietary supplements.

The demand for spice and herb extracts has increased due to their convenience, consistency, versatility, longer shelf-life, and health benefits. Food industry professionals understand the benefits of using extracts and are now incorporating them into their dishes. As the industry continues to innovate and provide customers with new and exciting options, we can expect to see an even greater demand for these extracts in the coming years.

Frequently Asked Questions
  1. How big is the Spice & Herbs Extracts Market?
    Ans. The Global Spice & Herbs Extracts Market size was estimated at USD 1.00 billion in 2023 and expected to reach USD 1.06 billion in 2024.
  2. What is the Spice & Herbs Extracts Market growth?
    Ans. The Global Spice & Herbs Extracts Market to grow USD 1.58 billion by 2030, at a CAGR of 6.72%
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