The herbs and spices market size is forecast to grow at a CAGR of 3.6% between 2024 and 2034. The market is expected to incline from US$ 171,563.1 million in 2024 to US$ 244,124.7 million by 2034 end. The accelerating utilization of herbs and spices in food items is fueling market expansion.
Emerging Trends in Dried Herbs and Spices Application
- Increasing demand for unique aromatic food experiences by today’s customers is boosting food experimentation by recipe developers.
- Remarkable interest in global and ethnic food, which reinforces curiosity about flavor mixes and spices
- Growing awareness regarding the medicinal and physiological benefits of herbs and spices, such as antiviral and antibacterial properties
- Ant-aging trend proposes that food can be used as a medicine; for instance, by incorporating cholesterol-lowering herbs and spices in their diets.
The Herbs and Spices market is not just about flavor; it’s a journey through global culinary diversity. Traditionally used for fragrance, flavor, and food preservation, these culinary treasures are witnessing a surge in demand. Ethnic food exploration, a quest for high-quality food experiences, and the rise of veganism are driving market expansion.
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Due to the growing demand for natural food ingredients, the consumption of plant-based food ingredients is increasing as compared to microbial & fermented, and artificial food ingredients. The willingness of consumers to pay a premium price for a more natural product has changed the dynamics of the herbs and spices market.
Notable Developments in the Global Herb and Spice Market
In May 2022, Jhaveri Spices Private Limited, based in India, introduced several new herb and spice blends that included Rajashahi Garam Masala, Kitchen King Masala, and Pav Bhaji Masala. These blends are manufactured using premium ingredients and uniquely blended extracts.
In January 2017, Givaudan S.A, acquired Activ International to expand its product offerings by providing organic and natural flavors, seafood, and marine extracts.
In November 2022, LifeSpice India introduced the first Science-baked spice mix product. The firm offers these innovative spice ingredients in kits consisting of four jars.
Ajinomoto Co., Inc. In August 2016, Ajinomoto Co., Inc. invested US$ 21.8 million to increase the production capacity of the company by approximately 40% for the flavor seasoning brand name Ros Dee® in Thailand.
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Key Players Profiled in the Herb and Spice Market Report
- Givaudan S.A
- Kerry Group Plc.
- Ajinomoto Co., Inc.
- Firmenich SA
- Takasago International Corporation
- Olam International
- Archer Daniels Midland Company
- Robertet SA
- Sensient Technologies Corporation
- Kalsec Inc.
- McCormick & Company, Inc.
- Symrise AG
- Frutarom Industries Ltd
- Synthite Industries Ltd
- International Taste Solutions Ltd.
Key Coverage in the Herb and Spice Market Report
- Adjacent study on plant-based food ingredient market.
- Seasoning and spices market size and growth opportunities.
- Herb and spice blend market overview.
- Market impact of herb and spice restaurants.
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Herbs and Spices Market by Category
Product type:
- Herbs
- Spices
- Paprila (Hot Pepper)
- Cumin
End Use:
- Food
- Sauces, Dressings, and Condiments
- Bakery and Confectionery
- Breads/Cakes
- Biscuits
- Snacks
- Candies
- Other Baked Goods
- Dairy Products
- Flavored Milk
- Cheese/Cheese Products
- Butter Ice Creams
- Other Dairy Products
- Snacks & Savory Products
- Processed Food
- Soups
- Flavored/Infused Oils
- Others
- Beverage
- Food Service
- Retail
Form:
- Powder & Granules
- Flakes
- Paste
- Whole/Fresh
Sales channel:
- Direct
- Indirect
- Store-based Retailing
- Online Retail
Nature:
- Organic
- Vegan
- Natural
- Non-GMO
- Conventional
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