FOOD & BEVERAGE
Global Herbs and Spices Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Herbs & Spices Market, By Product Type (Herbs and Spices), End-Use (Food Industry, Beverages, HoReCa, Retail / Household, Cosmetics & Personal Care, Nutraceuticals, Pharmaceuticals, and Others), Form (Powder & Granules, Flakes, Paste, and Whole/Fresh), Sales Channel (Direct and Indirect), Nature (Organic, Vegan, Natural, Non-Genetically Modified Organism, and Conventional), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Herbs & Spices market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Herbs and Spices typically refers to the trade of natural plant-based ingredients used to enhance flavor, aroma, and color in food preparation. Herbs are typically the leaves of plants used fresh or dried, while spices are derived from other parts of plants such as seeds, bark, roots, or fruits, and can be used in both fresh and dried forms.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Increasing demand for natural and organic products
- Functional food and beverage industry
RESTRAINTS
- Competition from synthetic and artificial flavors
- Changing consumer preferences and dietary trends
OPPORTUNITIES
- Convenience and ready-to-use products
- Sustainable and ethical sourcing practices
CHALLENGES
- Seasonality and crop variability
- Sustainability concerns
SEGMENTATION
- Product Type
- Herbs
- Oregano
- Parsley
- Mint
- Basil
- Rosemary
- Spices
- Cardamom
- Cinnamon
- Clove
- Nutmeg
- Paprika
- Pepper
- Turmeric
- Cumin
- Garlic
- Mustard
- End-Use
- Food Industry
- Soups, Sauces & Dressings
- Processed Food
- Bakery & Confectionery
- Meat & Seafood
- Dairy & Frozen Products
- Others
- Beverages
- Alcoholic
- Non-Alcoholic
- HoReCa
- Retail / Household
- Cosmetics & Personal Care
- Nutraceuticals
- Pharmaceuticals
- Others
- Form
- Powder & Granules
- Flakes
- Paste
- Whole/Fresh
- Sales Channel
- Direct
- Indirect
- Store-Based Retailing
- Online Retail
- Others
- Nature
- Organic
- Vegan
- Natural
- Non-Genetically Modified Organism
- Conventional
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Kerry Group Plc.
- Givaudan S.A
- Takasago International Corporation
- Sensient Technologies Corporation
- Archer Daniels Midland Company
- Ajinomoto Co., Inc.
- Symrise AG
- Firmenich SA
- Kalsec Inc.
- Olam International
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Herbs & Spices Market, by Product Type
- 3.2 Global Herbs & Spices Market, by End-Use
- 3.3 Global Herbs & Spices Market, by Form
- 3.4 Global Herbs & Spices Market, by Sales Channel
- 3.5 Global Herbs & Spices Market, by Nature
- 3.6 Global Herbs & Spices Market, by Geography
- 3.7 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Artisanal and small-batch production
- 5.1.2 Demand for functional ingredients
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Increasing demand for natural and organic products
- 5.2.2 Functional food and beverage industry
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Competition from synthetic and artificial flavors
- 5.3.2 Changing consumer preferences and dietary trends
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Convenience and ready-to-use products
- 5.4.2 Sustainable and ethical sourcing practices
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Seasonality and crop variability
- 5.5.2 Sustainability concerns
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL HERBS & SPICES MARKET, BY PRODUCT TYPE
- 6.1 Product Type Summary
- 6.2 Market Attractive Index
- 6.3 Global Herbs & Spices Market, by Product Type (2019-2032)
- SECTION 7 - GLOBAL HERBS & SPICES MARKET, BY END-USE
- 7.1 End-Use Summary
- 7.2 Market Attractive Index
- 7.3 Global Herbs & Spices Market, by End-Use (2019-2032)
- SECTION 8 - GLOBAL HERBS & SPICES MARKET, BY FORM
- 8.1 Form Summary
- 8.2 Market Attractive Index
- 8.3 Global Herbs & Spices Market, by Form (2019-2032)
- SECTION 9 - GLOBAL HERBS & SPICES MARKET, BY SALES CHANNEL
- 9.1 Sales Channel Summary
- 9.2 Market Attractive Index
- 9.3 Global Herbs & Spices Market, by Sales Channel (2019-2032)
- SECTION 10 - GLOBAL HERBS & SPICES MARKET, BY NATURE
- 10.1 Nature Summary
- 10.2 Market Attractive Index
- 10.3 Global Herbs & Spices Market, by Nature (2019-2032)
- SECTION 11 - GLOBAL HERBS & SPICES MARKET, BY GEOGRAPHY
- 11.1 Regional Summary
- 11.2 Market Attractive Index
- 11.3 Global Herbs & Spices Market, by Geography (2019-2032)
- SECTION 12 - NORTH AMERICA HERBS & SPICES MARKET
- 12.1 North America Summary
- 12.2 Market Attractive Index
- 12.3 North America Herbs & Spices Market, by Product Type (2019-2032)
- 12.4 North America Herbs & Spices Market, by End-Use (2019-2032)
- 12.5 North America Herbs & Spices Market, by Form (2019-2032)
- 12.6 North America Herbs & Spices Market, by Sales Channel (2019-2032)
- 12.7 North America Herbs & Spices Market, by Nature (2019-2032)
- 12.8 North America Herbs & Spices Market, by Country (2019-2032)
- 12.8.1 U.S.
- 12.8.2 Canada
- 12.8.3 Mexico
- 12.8.4 Rest of North America
- SECTION 13 - EUROPE HERBS & SPICES MARKET
- 13.1 Europe Summary
- 13.2 Market Attractive Index
- 13.3 Europe Herbs & Spices Market, by Product Type (2019-2032)
- 13.4 Europe Herbs & Spices Market, by End-Use (2019-2032)
- 13.5 Europe Herbs & Spices Market, by Form (2019-2032)
- 13.6 Europe Herbs & Spices Market, by Sales Channel (2019-2032)
- 13.7 Europe Herbs & Spices Market, by Nature (2019-2032)
- 13.8 Europe Herbs & Spices Market, by Country (2019-2032)
- 13.8.1 Germany
- 13.8.2 U.K.
- 13.8.3 France
- 13.8.4 Italy
- 13.8.5 Spain
- 13.8.6 Russia
- 13.8.7 The Netherlands
- 13.8.8 Belgium
- 13.8.9 Turkey
- 13.8.10 Rest of Europe
- SECTION 14 - ASIA-PACIFIC HERBS & SPICES MARKET
- 14.1 Asia-Pacific Summary
- 14.2 Market Attractive Index
- 14.3 Asia-Pacific Herbs & Spices Market, by Product Type (2019-2032)
- 14.4 Asia-Pacific Herbs & Spices Market, by End-Use (2019-2032)
- 14.5 Asia-Pacific Herbs & Spices Market, by Form (2019-2032)
- 14.6 Asia-Pacific Herbs & Spices Market, by Sales Channel (2019-2032)
- 14.7 Asia-Pacific Herbs & Spices Market, by Nature (2019-2032)
- 14.8 Asia-Pacific Herbs & Spices Market, by Country (2019-2032)
- 14.8.1 China
- 14.8.2 India
- 14.8.3 Japan
- 14.8.4 South Korea
- 14.8.5 Singapore
- 14.8.6 Malaysia
- 14.8.7 Australia
- 14.8.8 Thailand
- 14.8.9 Philippines
- 14.8.10 Rest of Asia-Pacific
- SECTION 15 - SOUTH AMERICA HERBS & SPICES MARKET
- 15.1 South America Summary
- 15.2 Market Attractive Index
- 15.3 South America Herbs & Spices Market, by Product Type (2019-2032)
- 15.4 South America Herbs & Spices Market, by End-Use (2019-2032)
- 15.5 South America Herbs & Spices Market, by Form (2019-2032)
- 15.6 South America Herbs & Spices Market, by Sales Channel (2019-2032)
- 15.7 South America Herbs & Spices Market, by Nature (2019-2032)
- 15.8 South America Herbs & Spices Market, by Country (2019-2032)
- 15.8.1 Brazil
- 15.8.2 Argentina
- 15.8.3 Chile
- 15.8.4 Colombia
- 15.8.5 Rest of South America
- SECTION 16 - MIDDLE EAST AND AFRICA HERBS & SPICES MARKET
- 16.1 Middle East and Africa Summary
- 16.2 Market Attractive Index
- 16.3 Middle East and Africa Herbs & Spices Market, by Product Type (2019-2032)
- 16.4 Middle East and Africa Herbs & Spices Market, by End-Use (2019-2032)
- 16.5 Middle East and Africa Herbs & Spices Market, by Form (2019-2032)
- 16.6 Middle East and Africa Herbs & Spices Market, by Sales Channel (2019-2032)
- 16.7 Middle East and Africa Herbs & Spices Market, by Nature (2019-2032)
- 16.8 Middle East and Africa Herbs & Spices Market, by Country (2019-2032)
- 16.8.1 Kingdom of Saudi Arabia
- 16.8.2 South Africa
- 16.8.3 U.A.E.
- 16.8.4 Egypt
- 16.8.5 Rest of Middle East and Africa
- SECTION 17 - COMPANY SHARE ANALYSIS
- 17.1 Global Herbs & Spices Market, Company Share Analysis
- 17.2 North America Herbs & Spices Market, Company Share Analysis
- 17.3 Europe Herbs & Spices Market, Company Share Analysis
- 17.4 Asia-Pacific Herbs & Spices Market, Company Share Analysis
- SECTION 18 - COMPANY PROFILES
- 18.1 Kerry Group Plc.
- 18.1.1 Company Snapshot
- 18.1.2 Financial Overview
- 18.1.3 Product Portfolio
- 18.1.4 Recent Developments
- 18.2 Givaudan S.A
- 18.2.1 Company Snapshot
- 18.2.2 Financial Overview
- 18.2.3 Product Portfolio
- 18.2.4 Recent Developments
- 18.3 Takasago International Corporation
- 18.3.1 Company Snapshot
- 18.3.2 Financial Overview
- 18.3.3 Product Portfolio
- 18.3.4 Recent Developments
- 18.4 Sensient Technologies Corporation
- 18.4.1 Company Snapshot
- 18.4.2 Financial Overview
- 18.4.3 Product Portfolio
- 18.4.4 Recent Developments
- 18.5 Archer Daniels Midland Company
- 18.5.1 Company Snapshot
- 18.5.2 Financial Overview
- 18.5.3 Product Portfolio
- 18.5.4 Recent Developments
- 18.6 Ajinomoto Co., Inc.
- 18.6.1 Company Snapshot
- 18.6.2 Financial Overview
- 18.6.3 Product Portfolio
- 18.6.4 Recent Developments
- 18.7 Symrise AG
- 18.7.1 Company Snapshot
- 18.7.2 Financial Overview
- 18.7.3 Product Portfolio
- 18.7.4 Recent Developments
- 18.8 Firmenich SA
- 18.8.1 Company Snapshot
- 18.8.2 Financial Overview
- 18.8.3 Product Portfolio
- 18.8.4 Recent Developments
- 18.9 Kalsec Inc.
- 18.9.1 Company Snapshot
- 18.9.2 Financial Overview
- 18.9.3 Product Portfolio
- 18.9.4 Recent Developments
- 18.10 Olam International
- 18.10.1 Company Snapshot
- 18.10.2 Financial Overview
- 18.10.3 Product Portfolio
- 18.10.4 Recent Developments
- SECTION 19 - RELATED REPORTS
- SECTION 20 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.