Africa Spice and Herb Extracts Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Africa Spice and Herb Extracts Market is Segmented By Application (Food, Beverage, and Pharmaceutical) and By Geography.

Market Snapshot

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Study Period: 2016 - 2026
Base Year: 2020
CAGR: 3.1 %
CAGR % (2020 - 2025): 3.1%
Fastest Growing Market: Food Application

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Market Overview

Africa spice and herb extracts market is expected to register a CAGR of 3.1% during the forecast period (2020-2025). 

  • Rising food applications of spices and herbs in products such as dressings and marinades by food manufacturers  is boosting the market growth of the ingredients in the region.
  • The market is also driven by factors such as the growing number of innovative product launches, a rising number of consumers preferring packaged food products and increased preference for botanical or herbal flavors among consumers.

 

Scope of the Report

Africa spice and herb extracts market is segmented by application which includes food, beverage and pharmaceutical. The study also involves the analysis of the main regions such as South Africa, Kenya and rest of Africa.

By Application
Food Application
Beverage Application
Pharmaceuticals
By Geography
South Africa
Kenya
Rest of Africa

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Key Market Trends

Increased Imports of Spices to South Africa

South Africa is dependent on spices imports to cater to the market demand in the country. According to the International Monetary Fund (IMF), the amount of spices imported in South Africa have almost doubled over the years. This is because the demand for the spices is high in the African market including Kenya, Ethiopia, and Mauritius. However, factors such demand and supply imbalance and low agricultural GDP per capita compared to other countries in the world have made Africa to rely on food and ingredient imports including herb and spice extracts from countries like India. Thus, the increased imports of spices have enabled the African region to cater to the local market demand.

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Food Application Witnessed Largest Share

The food application segment witnessed largest market share owing to the evolving food industry in Africa. Consumers have gradually started spending more on food products owing to the growth in population and urbanization trend. Global interest and investments of international food companies coupled with changing food tastes of consumers due to western influence is aiding to the development of food in the region. Thus, the evolving food industry in the region is positively impacting food companies to use more herb and spice extracts in their products to suit the changing palates of consumers. This, in turn, will enable more manufacturers to enter into the market and offer products for food and beverage applications, thereby contributing to market growth.

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Competitive Landscape

Africa spice and herb extracts market is consolidated, owing to existence of few players holding majority of share in the market. Some of the key players in the market are Döhler GmbH, Kalsec Inc., and Kerry Inc. Major players are opting for expansion strategies to expand their reach while focusing on producing highly purest and finest quality ingredients without any contaminations. They are investing in R&D activities to introduce ingredients in new flavors that are natural and safe for consumption. This, in turn, will increase sales of their ingredients among food and beverage companies in the region while garnering market dominance. 

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Food Application

      2. 5.1.2 Beverage Application

      3. 5.1.3 Pharmaceuticals

    2. 5.2 By Geography

      1. 5.2.1 South Africa

      2. 5.2.2 Kenya

      3. 5.2.3 Rest of Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Dohler GmbH

      2. 6.4.2 McCormick & Company, Inc.

      3. 6.4.3 Kalsec Inc.

      4. 6.4.4 Kerry Inc.

      5. 6.4.5 Olam International

      6. 6.4.6 Sensient Technologies

      7. 6.4.7 Cape Herb and Spice

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Africa Spice and Herb Extracts Market market is studied from 2016 - 2026.

The Africa Spice and Herb Extracts Market is growing at a CAGR of 3.1% over the next 5 years.

The Africa Spice and Herb Extracts Market is valued at 3.1% in 2026.

Döhler GmbH, McCormick & Company, Inc., Kalsec Inc., Kerry Inc., Olam International are the major companies operating in Africa Spice and Herb Extracts Market.

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