DUBLIN--(BUSINESS WIRE)--The "Global Spice & Herb Extracts Market (2021-2026) by Product, Application, Type and Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Spice & Herb Extracts Market is estimated to be USD 311. 75 Mn in 2021 and is expected to reach USD 439.29 Mn by 2026, growing at a CAGR of 7.1%.
Herbal extracts are extracted from herbal seeds, stems and flowers. Spice extracts are sweet and pungent additives from stems, nuts, berries, barks, and vegetables. Extracts of spices and herbs are used in foods & beverages, medicines, as well as to convey flavors, colors and preserve food products.
Factors like increasing demand for convenience food and the growing popularity of international cuisine in various countries are drivers for the market. In contrast, inefficient methods for proper storage acts as a restraint to the market.
Rising awareness of the medicinal properties of herbs & spice extracts provides a great opportunity for the growth of the market through lack of infrastructure for production and shipment poses a challenge to it.
Competitive Quadrant
The report includes the Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Spice & Herb Extracts Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's Proprietary competitive positioning tool.
Market Dynamics
Drivers
- Increasing Demand for Convenience Food
- The Growing Popularity of International Cuisine in Various Countries
Restraints
- Inefficient Methods for Proper Storage
Opportunities
- The Rising Awareness of Medicinal Properties of Herbs & Spice Extracts
Challenges
- Lack of Infrastructure for Production and Shipment
Market Segmentation
The Global Spice & Herb Extracts Market is Segmented further based on Product, Application, Type and Geography.
By Product, the market is classified into Basil, Cardamom, Celery, Chilli, Coriander, Cumin, Ginger, Oregano, Pepper, Thyme, Cinnamon, and Other. Amongst all segments, the Cumin segment is expected to grow at the highest CAGR.
By Application, the market is classified into Food Applications, Beverage Applications, and Medicines. Amongst all, the Food Applications segment is expected to contribute the highest growth.
By Type, the market is classified into Essential Oils, Liquid Blends, Spice Seasoning & Blends. Amongst all, the Spice Seasoning & Blends segment is expected to contribute the highest growth.
By Geography, Europe is projected to lead the market.
Companies Mentioned
- All-Season Herbs
- Ajinomoto Co. Inc.
- Paprika Oleo's India Ltd.
- Kalsec Inc.
- Dohler GmbH
- Givaudan
- Kerry Group Plc
- International Flavors & Fragrances Inc
- Sensient Technologies Corporation
- Naturex
- SHS Group
- Olam International
- Vdflavours
- Firmenich SA
- Takasago International Corporation
- Symrise
- McCormick & Company
For more information about this report visit https://www.researchandmarkets.com/r/vyjnby.
