Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 11 Billion | USD 18 Billion | 7.4% | 2022 |
FrequentlyAsked Questions
Spices are derived from many parts of the plant, including barks, fruits, leaves, seeds, roots, etc., and are used to flavor, color, aroma, and preservation of food and beverages.
The global herbs & spice extracts market growth over forecast period can be owing to growing intake of healthy diet along with popularity of ready-to-eat dishes as well as processed & convenient diet.
According to a study, the global herbs & spice extracts industry size was $11 billion in 2022 and is projected to reach $18 billion by the end of 2030.
The global herbs & spice extracts market is anticipated to record a CAGR of nearly 7.4% from 2023 to 2030.
North America is set to dominate the global herbs & spice extracts industry over the forecasting timeline owing to presence of giant players in the countries such as Canada and the U.S. Furthermore, rise in the demand for herbs & spices along with rise in the trade potential of small-scale farmers will steer the regional industry trends.
The global herbs & spice extracts market is led by players such as Naturex SA, Kerry Group Plc, Sensient Technologies Corporation, Firmenich SA, Symrise SG, Ajinomoto Co. Inc., Takasago International Corp., Archer Daniels Midland Company, Dohler GmbH, and Givaudan SA.
The global herbs & spice extracts market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis,
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