Global Organic Spices and Herbs Market is expected to witness substantial growth at a CAGR of 3.72% during the forecast period of 2020 to 2023.
A significant factor driving the growth of the organic spices and herbs market is the shift in the consumer behaviour pattern towards food products. The growing awareness about the medicinal properties of the organic herbs and spices is also likely to contribute to market growth.
The increasing demand for preservative and processing-free food has encouraged the adoption of organic spices and herbs across the food and beverage industry. In addition, the government regulations towards the restriction of artificial ingredients are estimated to enhance the revenue generation for the market players of the organic spices and herbs market.
The rising proclivity towards healthy food habits and organic diets is anticipated to create growth opportunities for the global organic spices and herbs market. On the other hand, the conflict regarding farmers’ reluctance towards organic farming is likely to hamper the market growth over the forecast period.
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The key market players in the Organic Spices and Herbs Market Analysis are Earthen Delight (India), Frontier Natural Products Co-op (Norway), Organic Spices Inc. (U.S.), Rapid Organic Pvt Ltd (India), Starwest Botanicals, Inc. (U.S.), The Spice Hunter, Inc. (U.S.), Yogi Botanical Pvt Ltd (India)
Global Organic Spices and Herbs Market has been segmented based on Spices Type, Herbs Type, Form and Application.
Based on spices type, the global organic spices and herbs market has been segmented into Cardamom, Cinnamon, Chilies, Cloves, Cumin, Garlic, Ginger, Pepper, Turmeric and others.
Based on the herb type, the organic spices and herbs market is segmented into basil, bay leaves, celery, dill, kaffir lime leaves, marjoram, mint, oregano, parsley, rosemary, sage, thyme, and others.
Based on the form, the global organic spices & herbs market has been segmented into a crushed/chopped, essential oil, powder, whole, and others. The essential oil segment and is estimated to grow at a comparatively higher CAGR of 4.11% during the forecast period.
Based on the application, the organic spices & herbs market is segmented into beverages, culinary, meat & poultry products, personal care, ready to eat meals, sauces & dips, snacks & convenience food, soups & noodles, and others.
Based on region, the global organic for market spices and herbs is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (ROW).
The Asia Pacific region is estimated to lead the market for organic spices &herbs through the forecast period. This is attributed to the presence of agro-climatic zones in the region, which is expected to be a favourable factor for the market. Developing countries such as Indonesia and Vietnam are likely to be the primary contributors to the market, owing to the large-scale manufacture of chilies and pepper.
North America is the second largest regional market for organic spices and herbs and is expected to sustain its market standing over the forecast period. It is estimated to account for a significant share of the market over the review period. The increasing demand for chili, mint, parsley, and marjoram in the U.S., and Canada is leading the massive growth of the organic spices and herbs market in the region. Guatemala and Mexico are significant contributors to organic spices and herbs market growth in the North and Central American region.
Europe is a vital growth pocket and will be driven by the growth of the country-level markets such as Ukraine and Spain. Strong potential for production, along with higher consumption is favorable factors for the growth of the organic spices and herbs market in regions.
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