Market Synopsis:
As per Market Research Future (MRFR)’s latest analysis, the global organic spices and herbs market is set to exhibit steady growth during the forecast period 2017 to 2023. The production value of the market is set to reach 3,687 kilo tons by the end of the year 2023, striking a CAGR of 3.72%. The market has entered a phase of maturity, but, the growth of the food and beverage sector is projected to have a favourable impact on the demand for organic spices and herbs.
The shift in the consumer behaviour pattern towards convenience food is another major factor responsible for driving the growth of the organic spices and herbs market. The increasing awareness about the medicinal properties of the organic herbs and spices has catapulted the market on an upward trajectory. The rising demand for preservative-free food has paved the way for the adoption of organic spices and herbs across the food and beverage industry. Additionally, the regulations framed for restricting the use of synthetic ingredients have further accelerated the revenue creation for the players of the organic spices and herbs market. The rising inclination towards healthy food habits is forecasted to catalyse the growth of the organic spices and herbs market. However, the resistance posed by the farmers towards organic farming is likely to hold the market expansion in the forthcoming years.
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Major Key Players Trend:
Some of the key players profiled in the report are Earthen Delight (India), Rapid Organic Pvt Ltd (India), Frontier Natural Products Co-op (Norway), Organic Spices Inc. (U.S.), The Spice Hunter, Inc. (U.S.), Yogi Botanical Pvt Ltd (India), and Starwest Botanicals, Inc. (U.S.).
Industry News:
In September 2018, McCormick, a dealer in flavorful products, has introduced a range of spices and herbs, Gourmet Organic Global Seasonings, inspired from South America, and the Middle East and Africa.
In October 2018, Australian company Focus has introduced Herbal Mix, a functional beverage with organic herbs.
In October 2018, Golden Pig & Co, Australia, has introduced first allergy-friendly and gluten-free dumplings seasoned with organic spices.
Market Segmentation:
By spices type, the global organic spices and herbs market has been segmented into chilies, garlic, ginger, turmeric, cumin, pepper, cinnamon, cloves, cardamom, and others.
By herbs type, the organic spices and herbs market is segmented into basil, mint, marjoram, parsley, oregano, sage, bay leaves, dill, thyme, rosemary, celery, kaffir lime leaves, and others.
By form, the global organic spices and herbs market has been segmented into whole, powder, crushed/chopped, essential oil and others.
By application, the organic spices & herbs market is segmented into culinary, meat & poultry products, sauces & dips, snacks & convenience food, soups & noodles, ready to eat meals, beverages, personal care, and others.
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Regional Analysis:
By region, the global organic spices and herbs market has been segmented into North America, Europe, Asia Pacific and the Rest of the World. Asia Pacific is likely to dominate the global market through the assessment period. The presence of agro-climatic zones in the region is projected to augment the organic spices and herbs market over the next few years. Indonesia and Vietnam are poised to be the primary revenue generators in the regional market owing to the large-scale production of chilies and pepper.
North America is the second largest market for organic spices and herbs. It is prognosticated to hold a significant share of the market over the review period. The increasing demand for chili, parsley, mint, and marjoram in the U.S. and Canada is leading the proliferation of the organic spices and herbs market in the region. Europe is an important growth pocket and will be led by the growth of the country-level markets such as Ukraine and Spain.
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