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. 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.
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%.
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.
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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.
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.
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, basil, Kaffir lime leaves, bay leaves, thyme, mint, dill, celery and Rosemary.
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Comprehensive Geographical Analysis:
The Global Organic Spices and Herbs Market is segmented into Europe, North America, Asia Pacific and Rest of the World (RoW). Among this Asia Pacific region has the major market share followed by North America. Asia Pacific region is expected to maintain its dominant position in upcoming years due Presence of various agro-climatic zones and seasons support various organic spices and herbs production in this region. Vietnam and Indonesia will witness higher growth in organic spices and herbs market during the forecast period (2017 to 2023) due to increasing production of chilies and pepper in these countries. Spain and Ukraine are one of the fastest growing countries in organic spices and herbs market in the Europe region as increasing demand for high quality organic herbs is playing key role in Europe region. Chili, Parsley, Mint and Marjoram are dominating the North America region due to increasing popularity of organic spices and herbs in developed countries especially in U.S. and Canada.
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