Market Size of Europe Spice and Herb Extracts Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Spices and Herbs Extracts Market Analysis
The European spice and herb extracts market is projected to register a CAGR of 6.7% during the forecast period.
The demand for spices and herbs in Europe has been growing immensely over the years. This high growth rate can be attributed to trends such as healthy living, an interest in new tastes, and convenience. The growing popularity of organic spices among European customers due to their chemical- and pesticide-free properties, as well as European spice and herb extract, are expected to drive growth during the forecast period.However, the majority of European food processors utilize organic herbs and spices for the sole objective of product differentiation, which in turn boosts the European spice and herb extract market.
Europe relies primarily on imports from spice-extracting countries such as Kuwait, China, Indonesia, and India. Traditionally, the Netherlands has played a significant role in international trade as a leading importer of spices from developing countries. The Netherlands Ministry of Foreign Affairs reports that Dutch spice and herb imports accounted for 14% of total European imports in 2021, growing at an annual rate of 7.3% since 2017. Moreover, consumers and domestic business operators are concentrating more on benefiting the industry by raising local products and increasing the growth of the European spice and herb extract market.
