DUBLIN--(BUSINESS WIRE)--The "Global Spice and Herb Extracts Market - Segmented by Type, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Globally, the global spice and herb extracts market is expected to grow at a CAGR of 7.1% from 2017 to 2022. The market is valued at USD 6.91 billion in 2017.
The key drivers leading to the growth of the spice and herb extract markets are the increased availability of international cuisines in the major economies, shifting consumer focus towards natural products, increasing demand for convenience foods and rising preference for organic flavors among consumers.
By product type, the market is sub-segmented into essential oils, seasonings, blends and others type of spice and herb extract based products. The major demand is for chili and pepper extracts. Spice and herb extracts have their applications in the food, beverage and pharmaceutical industries. In the food segment, they are used in dairy, dressings and marinades, meat and poultry, snacks and others.
North America herb and spice market has the largest market for spice and herb extracts, followed by Europe. Most of the EU countries like the UK and Germany do not have suitable agro-climatic conditions to cultivate most spices and herbs; hence, they depend heavily on imports from semi-tropical countries.
The Asia-Pacific region is an emerging market as these extracts act as key ingredients in the local cuisine. In North America, the market is driven by a rise in the street and convenience food. In the South America and Africa regions, the market has a high local demand and is less import dependent. The consumers prefer extracts of those herbs and spices that are grown locally and through organic methods.
- Alkaloids Corporation
- All-Season Herbs Pvt. Ltd
- Arjuna Natural Extracts Limited
- Bio-gen Extracts Pvt. Ltd.
- Kalsec Inc.
- Dhler GmbH
- Indena S.p.A.
- James Finlay Limited
Key Topics Covered:
2. Research Approach & Methodology
3. Key Findings
4. Market Overview
5. Porter's Five Force Analysis
6. Market Segmentation
7. Competitive Landscape
8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/vbgkns/global_spice_and?w=4