An Incisive, In-depth Analysis on the Herb And Spice Extracts Market
This study offers a comprehensive, 360 degree analysis on the Herb And Spice Extracts market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Herb And Spice Extracts market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
A rich agricultural heritage and wide presence of different varieties of herbs and spices make APEJ the leading regional market for herb and spice extracts
While the global herb and spice extracts market is spread across the major geographies, Asia Pacific Excluding Japan emerges as the undisputed leader when it comes to the production and consumption of herb and spice extracts. The predominance of an agrarian economy in the APEJ region coupled with vast natural resources that are home to a large variety of herbs and spices make the region a potential goldmine for extraction of different kinds of herb and spice extracts. This probably explains why the APEJ herb and spice market is slated to dominate the global herb and spice market in terms of both value and volume, with an estimated market value of about US$ 4 Bn anticipated by the end of 2017, likely to increase to about US$ 7 Bn by the end of the forecast period in 2027. This is reflective of a CAGR of 5.5% in terms of value, the highest among all the other regions. In terms of volume, the APEJ herb and spice extracts market is pegged at just under 840 MMT in 2017 and this is expected to increase to about 1370 MMT by 2027 end, reflecting a CAGR of 5.0% – again, the highest among all the regional markets.
In terms of value, Western Europe is the second largest regional market, with an estimated revenue of about US$ 2.8 Bn in 2017 likely to increase to US$ 4.7 Bn by the end of 2027, witnessing a CAGR of 5.3%. An increasing demand for herb and spice extracts in the local markets in Western Europe is the main factor boosting the growth of the herb and spice extracts market in the region.
Global Herb and Spice Extracts Market: Factors impacting revenue growth of the regional markets
The herb and spice extracts market is experiencing decent growth across the various geographies, owing to the regional market dynamics impacting the demand and consumption of herb and spice extracts, thereby fuelling market revenue growth significantly.
North America: The demand for herbal extracts is trending the North America nutraceutical market and the application of herbal extracts has been growing across different fields of study such as Ayurveda, the food industry, pharmaceuticals, etc. This is boosting revenue growth of the North America herb and spice extracts market.
Latin America: The demand for herb and spice extracts is on an upward swing in Latin America, as herbs and spices increase the shelf life of products without the need to add salt or sugar, which run the risk of adding extra calories in the diet. This has positively impacted the growth of the herb and spice extracts market in the region.
Western Europe: Consumers in Western Europe are driven by an increasing awareness of the need to maintain good health and a conscious shift towards fresh and wet herbs can be seen across the region. This has fuelled consumption and hence revenue growth of the Western Europe herb and spice extracts market.
Eastern Europe: People in Eastern European countries are inclined towards the use of environmentally sustainable food ingredients such as locally grown herbs and spices readily available in the native markets. Russia is a frontrunner in the Eastern Europe herb and spice extracts market, with the Russian government providing subsidies to farmers to promote and strengthen the local herb and spice market. This is a key driver of growth of the Eastern Europe herb and spice extracts market.
APEJ: The introduction of the cold pressed technique to extract oils is boosting the growth of the herb and spice extracts market in APEJ.
Japan: An ageing population steering towards an increasing use of herb and spice extracts in daily food products as against synthetic flavours and ingredients is pushing the Japan herb and spice extracts market ahead in terms of revenue growth.
MEA: A high incidence of life-threatening diseases such as cancer and heart diseases in the MEA region has prompted the use of herb and spice extracts as preventive measures to combat certain ailments. The beneficial properties of naturally grown herbs and spices is boosting consumer demand in the MEA region, thereby fuelling the growth of the MEA herb and spice extracts market.
Future Market Insights presents a detailed evaluation of the global herb and spice extracts market in a new report titled “Herb & Spice Extracts Market: Global Industry Analysis (2012 – 2016) and Opportunity Assessment (2017 – 2027).” In this report, we have studied the global herb and spice extracts market over the period 2012 – 2016 and presented our analysis and forecast for the period 2017 – 2027. For ease of understanding, we have segmented the global herb and spice extracts market on the basis of product type, form, application, sales channel, and region. This five level market segmentation has helped us capture the nitty-gritty of the global herb and spice extracts market and enabled us to present detailed insights and forecasts for all the segments across the key assessed regions.
Global Herb and Spice Extracts Market: Taxonomy
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Report Structure
Our report on the global herb and spice extracts market begins with a clear and succinct executive summary that presents the global herb and spice extracts market overview and our analysis and recommendations. Next is the market introduction section with market taxonomy, global herb and spice extracts market definition, and a parent market overview. The market dynamics section follows next with information on the macroeconomic factors likely to impact revenue growth of the global herb and spice extracts market along with information on the relevance and impact of forecast factors on the global herb and spice extracts market. The next section presents the global herb and spice extracts market analysis for 2012 – 2016 and forecast for 2017 – 2027. Here we cover the market value and volume forecasts, absolute $ opportunity, and pricing analysis. The global herb and spice extracts market value chain along with a list of active market participants concludes this section.
The next few sections present a comprehensive forecast of the global herb and spice extracts market by form, product type, application, sales channel, and region. In these sections, we highlight the key market trends and developments, segmental market attractiveness analysis, and a detailed market forecast in terms of value and volume for the decadal period. The sections after this dive into the regional herb and spice extracts markets and here, we have focussed on the regional pricing analysis, regional market dynamics (drivers, restraints, trends), key regulations governing the regional markets, key regional market trends and developments, and market attractiveness analysis for the various market segments. A historical and forecasted market value and volume analysis concludes these regional sections.
One of the most important sections of our report presents the competition landscape of the global herb and spice extracts market. This section covers the global herb and spice extracts market structure, market share analysis, and a competition intensity mapping by market taxonomy. We also present a competition dashboard to give our readers an idea of the vendor ecosystem present in the global herb and spice extracts market. In this section, we have profiled some of the leading players operating in the global herb and spice extracts market. Company profiles capture vital information such as business overview, key financials, growth and expansion strategies, and recent market developments.
Research Methodology
Future Market Insights’ research methodology is a tried and tested combination of exhaustive primary and secondary research to gather the relevant data points pertaining to the global herb and spice extracts market. A vast amount of data acquired through both structured and unstructured sources is extrapolated, validated, and further scrutinised using advanced company tools to gather the relevant metrics through which our analysts have been able to derive pertinent insights into the global herb and spice extracts market.
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