DUBLIN--(BUSINESS WIRE)--Aug 20, 2018--The “Global Spices and Herbs market - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
Globally, the spice and herb extracts market is expected to register a CAGR of 7.1% from 2018 to 2023. This market was estimated to be valued at USD 6.91 billion in 2017.
International Cuisine to Drive the Herb & Spice Market
The key drivers leading to the growth of the spice and herb extract markets are the increased availability of international cuisines in the major economies, shifting consumer focus towards natural products, increasing demand for convenience foods and rising preference for botanical flavors among consumers.
Many companies, like Doehler, are focusing on natural herb & spice extracts as they are becoming popular in every segment of the food and beverage industry and offer plenty of scope for new and attractive taste creations.
The inconsistencies in the prices and high cost of production are primary challenges hampering the growth of the market.
There is a significant scope for small and medium-sized exporters in the herb and spice extract market, especially from those belonging to the European region, in case they adopt sustainability measures.
There has been an increased focus and investments in the food and beverage industry, to develop new flavors and aromas using spice and herb extracts mainly for convenience foods and confectionery segments.
The growing demand for natural preservatives has opened a line of markets for herb and spice extracts. Many consumers are becoming aware of the curative properties of herbs and spices extracts. This has led to the increased market for the use of these spice and herb extracts in the nutraceuticals and cosmetic industry.
Key HighlightsChili & Pepper Leads the Market Growing Preference for Organic Spices China, India and Vietnam Leading the Supply Side
Key Topics Covered
2. Market Insights
3. Market Dynamics
4. Market Segmentation
5. Regional Market Analysis
6. Competitive Landscape
7. Company ProfilesAll-season Herbs Pvt. Ltd. Associated British Foods PLC Bart Ingredients Doehler GmbH DS Group Frontier Co-op Goya Foods Inc. Kraft Heinz Co. McCormick & Company Olam International Sensient Technologies Worle Gruppe
For more information about this report visit https://www.researchandmarkets.com/research/bf33lc/global_spices_and?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180820005404/en/
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Related Topics:Spices and Seasonings
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
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PUB: 08/20/2018 11:09 AM/DISC: 08/20/2018 11:09 AM