The Asia-Pacific market for spice and herb extracts is expected to register a CAGR of 6.1%, during the forecast period, 2018 – 2023. The market for spice and herb extracts in this region is thriving due to strong local demand. These extracts are relevant as food preservatives and shelf-life extension ingredients owing to the tropical climate in most of the countries in the region.
The key drivers leading to the growth of the Asia-Pacific spice and herb extracts market are the increased availability of international cuisines in the major economies, shifting consumer focus towards natural products, and increasing demand for convenience foods. Many companies, like Dohler, are focusing on natural herb & spice extracts as they are becoming popular in every segment of the food & beverage industry and offer plenty of scope for new and attractive taste creations.
However, inconsistencies in the prices of spices and herbs and high cost of production are primary challenges hampering the growth of this market over the forecast period. Apart from this availability of substitutes for herb and spice extracts further poses hindrance to the growth of this market.
The market has a good trade potential, especially in countries, like India and China, due to a high import demand from the countries belonging to European and North American regions. A large proportion of extracts traded in both local and exports markets, are produced by small-scale farmers.
The Asia-Pacific spice and herb extract market is segmented by type, product type, and application. By type, oregano records a CAGR of 8.6% during the forecast period. The major demand among these is for chilly and pepper extracts, which are mostly used in convenience and street foods.
In the West Asian markets, there is a strong demand for the use of these ingredients in making curry powder and masala. Regarding exports, the Asia-Pacific region is leading globally, due to strong demand from the European and North American markets.
January 2017- Kalsec expanded its IsoFresh® product line is planning to include garlic and white and red onion. Developed with Kalsec culinary and sensory expertise, IsoFresh® products feature a unique combination of natural flavors that maximize the freshness profile of garlic and onion throughout the canning process
The key players of the Asia-Pacific herb and spice extracts market include - Arjuna Natural Extracts Limited, Bio-gen Extracts Pvt. Ltd., Cosmark Pty Ltd., Döhler GmbH Kalsec® Inc., K.Patel Phyto Extractions Pvt. Ltd., Kangcare Bioindustry Co.,Ltd., Kuber Impex Limited, Langdon Ingredients, Lehmann & Voss & Co., McCormick & Company Inc., Nantong Sihai Plant Extracts Co. Ltd., Nutra Green Biotechnology Co. Ltd , Organic Herb Inc, Plant Extracts International Inc., Sigma-Aldrich Corporation, Synthite Industries Ltd., The Herbal Extract Company of Australia, Vidya Herbs Pvt Ltd and XENA BIO HERBALS, among others.
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- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
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1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Key Findings
4. Market Dynamics
4.1.1 Increased Availability of International Cuisines in the Major Economies.
4.1.2 Shifting Consumer Focus towards Natural Products
4.1.3 Increasing Demand for Convenience Foods
4.2.1 Inconsistencies in the Prices of Spices and Herbs
4.2.2 Availability of Substitute Products
4.3.1 Positive Prospects for Small and Medium-sized Exporters by Adopting
5. Porter's Five Forces Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitute Products and Services
5.5 Degree of Competition
6. Market Segmentation
6.1 By Type
6.2 By Product Type
6.2.1 Essential Oils
6.3 By Application
6.3.1 Food Applications
184.108.40.206 Dressings and Marinades
220.127.116.11 Meat and Poultry
6.3.2 Beverage Applications
18.104.22.168 Soft Drinks
22.214.171.124 Tea and Herbal Drinks
126.96.36.199 Alcoholic Beverages
6.4 By Geography
6.4.5 Rest of Asia-Pacific
7. Competitive Landscape
7.1 Strategies Adopted by Players
7.2 Most Active Companies in the Past Five Years
7.3 Market Share Analysis
8. Company Profiles
8.1 Arjuna Natural Extracts Limited
8.2 Bio-gen Extracts Pvt. Ltd.
8.3 Cosmark Pty Ltd.
8.4 Döhler GmbH
8.5 Kalsec® Inc.
8.6 K.Patel Phyto Extractions Pvt. Ltd.
8.7 Kangcare Bioindustry Co.,Ltd.
8.8 Kuber Impex Limited
8.9 Langdon Ingredients
8.10 Lehmann & Voss & Co.
8.11 McCormick & Company, Inc.
8.12 Nantong Sihai Plant Extracts Co., Ltd.
8.13 Nutra Green Biotechnology Co. Ltd
8.14 Organic Herb Inc.
8.15 Plant Extracts International Inc.
8.16 Sigma-Aldrich Corporation
8.17 Synthite Industries Ltd.
8.18 The Herbal Extract Company of Australia
8.19 Vidya Herbs Pvt Ltd
8.20 XENA BIO HERBALS