Organic Spices and Herbs Market Size, Share, Trend, Leading Players Review and Global Industry Report, 2023

10/mag/2018 15:01:32 suraj taur Contatta l'autore

Market Overview:

The global market for organic spices and herbs has witnessed continued demand during the last few years and is projected to reach around 3,687 kilo tons by the year 2023, at a CAGR of 3.722% during the forecast period 2017 to 2023. Increase in versatile demand across various food and beverage segments particularly for convenience foods and beverages is likely to drive the global organic spices and herbs market.

Asia Pacific region is estimated to dominate the market with more than 75% of market share in the year 2017 due increasing production of organic spices in India, China and Vietnam since last few years. Guatemala and Mexico are major markets for organic spices and herbs in the North and Central American region. Strong potential for production as well as higher consumption favors organic spices and herbs market growth the most among these regions.

India is the major producer, consumer and exporter of herbs & spices in the world. India has wide variety of herbs & spices due to different agro-climatic conditions and soil types. Hence, India remains prime focus for organic herbs & spices market due to huge potential for both supply and demand. Vietnam, Indonesia, Spain and Guatemala are among the other top emerging markets for organic herbs & spices. The world demand for organic herbs & spices is growing rapidly especially in developed countries like Spain, U.S., Japan and Australia.

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Increasing importance of herbs & spices for various flavors in foods and medicinal properties has resulted in higher demand for herbs & spices. On the other hand, rising awareness for food safety related to pesticide residues in herbs & spices and related health hazards has triggered higher demand or organic herbs & spices. Demand for organic foods has been slower due to reluctance among farmers to shift from traditional methods of farming to organic farming. Change in food trends and adoption of various international food forms encouraging herbs & spices consumption in raw form further encourages demand for organic herbs & spices.

Global Key Players:

The leading market players in the Global Organic Spices and Herbs market primarily are Organic Spices Inc.(U.S.), Frontier Natural Products Co-op (Norway), Rapid Organic Pvt Ltd (India), Earthen Delight  (India), Yogi Botanical Pvt Ltd (India), The Spice Hunter, Inc. (U.S.)  and Starwest Botanicals, Inc. (U.S.)

Latest Industry Updates:

Dec 2017 Manarcadu Social Service Society located in Kerla, India launches organic, dry fruits brand related to fruits and juice. MASS was instrumental in empowering farmers to achieve organic certification and export their produce including spices & herbs, coffee and cocoa to Europe, keeping Fairtrade and organic standards.

Nov 2017 San Francisco Equity Partners’ Portfolio Company Red Monkey Foods Acquires San Francisco Salt Company. Red Monkey Foods is a leading provider of premium store brand organic spices & herbs and seasonings.

Jan 2016 IFC to invest in agri-commodity firm Olam to expand in India, Nigeria. Singapore-based commodities company Olam International Ltd is raising $175 million from International Finance Corp, the company has taken loan from World Bank, to finance its projects in India and Nigeria. The part of funding will be also used to upgrade organic spices and sugar facilities in Maharashtra and Kerla in India.

Sep 2017 Spices & Herbs export including organic spices & herbs in India rises 35% in first quarter of 2017. Garlic has registered the maximum growth in terms of volume and value. It contributed significantly to the overall exports during the period, rising more than 150 per cent in volume. Fennel registered a growth of 92 per cent in terms of volume. The exports of other seed spices such as mustard, aniseed and dill seed grew by 83 per cent in terms of volume.

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Regional Analysis:

In 2016, Asia-Pacific region is dominates the market in terms of volume and value followed by North America. India, China and Vietnam are major organic spice producers in the Asia-Pacific region. Presence of various agro-climatic zones and seasons support various organic spices & herbs production in this region. Guatemala and Mexico are major organic Spices & Herbs market in the American region. Strong potential of spices & herbs production and consumption favors organic spices & herbs market growth the most among the various regions in the world. India is the major producer, consumer and exporter of Spices & Herbs in the world. India has wide variety of spices & herbs due to different agro-climatic conditions and soil types. Hence, India remains prime focus for organic spices & herbs market due to huge potential for both supply and demand. Vietnam, Indonesia, Spain and China are among the other top emerging markets for organic Spices & Herbs.

Market Segments:

The global organic spices & herbs market has been divided into spices type, herbs type, form, application and region.

On The Basis Of Spices Type: Chilies, Garlic, Ginger, Turmeric, Cumin, Pepper, Cinnamon, Cloves, Cardamom and Others

On The Basis Of Herbs Type: Basil, Mint, Marjoram, Parsley, Oregano, Sage, Bay Leaves, Dill, Thyme, Rosemary, Celery, Kaffir lime leaves and others

On The Basis Of Form: Whole, Powder, Crushed/Chopped, Essential oil and others

On The Basis Of Application: Culinary, Meat &Poultry Products, Sauces & dips, Snacks & Convenience Foods, Soups & Noodles, Ready to Eat Meals, Beverages, Personal Care and other

 

 On The Basis Of Region: North America, Europe, Asia Pacific and ROW.

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