LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global fennel seeds market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The primary reason for the growth of the global fennel seeds market is the increasing awareness about the health benefits of fennel seeds. It aids in digestion, reduces obesity, helps with menstrual problem, helps eliminate bad breath, and relieves chronic coughs. The growth in organized retail increases the product availability for consumers, which drives the market.
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The top three emerging trends driving the global fennel seeds market according to Technavio research analysts are:
- Increasing demand for aromatherapy
- Online trends
- Clean labeling
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Increasing demand for aromatherapy
“The several health benefits offered by fennel essential oil will drive the market. The health benefits of fennel essential oil can be attributed to its properties as an antispasmodic, antiseptic, carminative, aperitif, stomachic, depurative, diuretic, emmenagogue, expectorant, laxative, stimulant, galactagogue, splenic, tonic, and vermifuge substance,” says Manjunath Reddy, a lead analyst at Technavio for research on food industry.
Fennel essential oil is one of the most popular essential oils used in aromatherapy. The increased usage of fennel essential oil is expected to drive the market during the forecast period. Aromatherapy is an alternative medicine that involves the use of volatile plant materials, also called as essential oils. The health benefits of aromatherapy include its ability to boost energy levels, reduce anxiety, ease depression, speed up the healing process, boost cognitive performance, eliminate headaches, strengthen the immune system, induce sleep, reduce pain, improve digestion, and increase circulation.
“The average amount of money spent online per transaction and the number of transactions that take place online are on the rise globally. Internet retailing is expected to gain popularity in the US, where the internet penetration rate stood at around 90% in 2016. The growing number of online shoppers in the US could further translate into an increase in the sales of fennel seeds through this channel,” adds Manjunath.
There is an increase in demand for certified organic fennel seeds through the online retail format globally. With the growth of e-commerce businesses worldwide, vendors have the potential to increase their profitability; e-commerce accounts for approximately 12% of the global retail trade. Online and e-commerce channels support both business-to-business (B2B) and business-to-consumer (B2C) operations.
The country of origin plays a major role in the purchasing decisions of consumers directly or indirectly. For instance, consumers in the US consider foods packaged in the US and Canada to be safer to consume than those from other regions based on freshness, taste, and food safety.
Private label superfoods are becoming popular among consumers. Private label products are available at premium prices and with unique flavoring. Private label food products are being stocked in retail stores and are available at low prices compared to branded products. Thus, manufacturers of fennel seeds are required to address concerns about trust and ethics regarding such products to avoid losing customers.
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