Europe Spice and Herb Extracts Market Size

Statistics for the 2023 & 2024 Europe Spice and Herb Extracts market size, created by Mordor Intelligence™ Industry Reports. Europe Spice and Herb Extracts size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Europe Spice and Herb Extracts Industry

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Europe Spice and Herb Extracts Market Summary
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

Europe Spice and Herb Extracts Market 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.

European Spices and Herbs Extracts Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)