Market Overview:
The organic spices and herbs market has witnessed tremendous growth in the past few years. A solid reason behind its expansion is the constant demand for better and chemical-free spices & herbs.
Across the globe, the demand for organic products, be it food, beverages or even herbs & spices is at an all-time high. Therefore, it has been asserted by the experts that the worldwide market for organic spices and herbs will be successful in unleashing its maximum potential in the forthcoming years. The statistical data clearly backs this fact, the market is expected to reach approximately 3,687 kilo tons by the end of the projection period. On the other hand, the CAGR for this tenure will be 3.722%.
The people of the modern era want a larger variety to select from when it comes to food items. It has been observed that there has been a dramatic increase in the demand for comfort food and beverage products. This fact contributes immensely towards the growth of this market.
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Additional factors like rising importance of organic spices & herbs, usage of it in the preparation of various flavor rich food products, higher awareness regarding the medical properties of organic spices, increased instances of pesticide-related diseases, switch in food patterns and acceptance of several international food variants further propel the expansion of this market.
On the other hand, the market also comes across certain minor hurdles like adamancy of farmers to switch to organic farming. Efforts are being taken in this direction and soon a solution will be found to cope with this issue.
Comprehensive Geographical Analysis:
The market for organic spices & herbs is not restricted to just one single area, it has its reach from corner to corner of the world. The major areas where its presence is observed are North America, Asia Pacific, Europe and Rest of the World.
The research report by MRFR (Market Research Future) confirms that amongst these areas, Asia Pacific takes the cake when it comes to dominance. It holds the largest share of the market followed by North America.
Industry News:
April 2, 2018 – The latest update for this market has come in from the governing Asia Pacific region. A renowned company called Ankur Capital, has decided to venture into the organic spices business and it has invested an undisclosed sum of money in Carmel Organics, a medicinal herbs supplier. This alliance is expected to generate greater leads for the market.
Market Players & Key Strategies:
Some of the most popular names in this industry are Rapid Organic Private Ltd., Yogi Botanical Pvt Ltd, Organic Spices, Starwest Botanicals and Spice Hunter.
This market is quite a competitive space and the stakeholders need to keep evolving constantly to make the most out of their business. For this, they employ certain strategies like acquisitions, strategic partnerships and business expansion.
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Market Segmentation:
The worldwide market for organic spices and herbs has been segmented into four portions. Each of these portions is further branched out and they are listed as below:
Applications – Sauces & dips, personal care, culinary, snacks & convenience food, meat & poultry products, soups & noodles, beverages, ready to eat meals and personal care.
Spices type – Turmeric, cumin, cloves, chilies, pepper, cinnamon, garlic, cardamom and ginger.
Forms – Essential oil, whole, crushed/chopped and powder.
Herbs Types – Oregano, Sage, Kaffir lime leaves, basil, bay leaves, thyme, mint, dill, celery and Rosemary.
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