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Global spice and herbal extracts market is segmented by source type into Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme and Others; By Application into Food Applications, Beverage Applications and Pharmaceuticals and; By Geography.
Fastest Growing Market:
The global spice and herb extracts market is projected to grow at a CAGR of 7.1% during the forecast period (2020 - 2025).
Impact of COVID-19 on the Market:
Global spice and herbal extracts market is segmented by source type into Celery, Cumin, Chili, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme and Others; By Category into Essential Oils and Oleoresins, Seasonings, Blends and Other Products; By Application into Food Applications, Beverage Applications and Pharmaceuticals. By geography, the scope includes North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
|By Product Type|
|Other Source Types|
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Seasonings and spices are enriched with various health and therapeutic benefits. Spices improve the taste and flavor of foods and add value to human health in several ways. The majority of the spices have antiviral and antibacterial properties, with various vitamins and mineral traces. Spices impart a wide range of health benefits, such as high antioxidant value, reduction of blood sugar level and diabetes, and improvement of skin health and brain health. Garlic has a powerful compound called allicin, which lowers the chance of heart diseases and prevents the growth of cancer cells.
The growth of the diabetic population led to a rise in the popularity of cumin, which promotes weight loss. It is effective in reducing blood cholesterol levels. The market has witnessed an increase in the consumption of spices, due to the growing consumer awareness regarding the health benefits of herbs/spices. Several health food manufacturing companies in this region utilize these spices to introduce and develop health-promoting products and attract the health-conscious consumers of the region
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Europe is the largest market for spice and herbs extracts globally. Despite low production, Europe is much inclined towards the import of spice, herbs and their extracts from developing region such as Asia-Pacific and the Middle East and Africa. About 97% of the total imported spice & herbs come from developing countries. On a global scale, Europe is a mature market for spice and herb extracts and the growth rate is comparatively slower than other regions. The
European demand for spices is growing mostly due to interest in new tastes and healthy living. Furthermore, increasing inclination toward good-for-health food, organic food ingredients, food having a greater amount of transparency, less amount of sodium in salts are expected to create opportunities for the companies manufacturing spice and seasonings. Therefore, this factor is expected to increase the consumption of organic ingredients, such as spices in home-prepared food.
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The global spices and herbs extracts market is competitive, with a significant presence of numerous global and regional players. All-Season Herbs, Kerry Group plc, Döhler Gmbh and McCormick & Company, Inc. Moreover, players operating in the market are investing in research and development activities to develop products with enhanced benefits fuelling spice and herb extract market growth.
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.12 Other Source Types
5.2 By Application
5.2.1 Food Application
18.104.22.168 Meat and Poultry
22.214.171.124 Dressings, Soups and Sauces
126.96.36.199 Snacks and Convenience Food
188.8.131.52 Other Food Applications
5.2.2 Beverage Applications
184.108.40.206 Tea and Herbal Drinks
220.127.116.11 Alcoholic Beverages
18.104.22.168 Soft Drinks
5.3 By Geography
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.3 Asia Pacific
220.127.116.11 Rest of Asia-Pacific
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle East & Africa
22.214.171.124 United Arab Emirates
126.96.36.199 South Africa
188.8.131.52 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Position Analysis
6.4 Company Profiles
6.4.1 Kalsec Inc.
6.4.2 Dohler GmbH
6.4.4 Kerry Group plc
6.4.5 International Flavors & Fragrances Inc
6.4.7 McCormick & Company
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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