The spice and herb extracts market in the African region consists of celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme and other types of extracts. They are available both, in tinctures and powdered form, and are in high demand for their flavoring, seasoning and aromatic attributes. Only few spice and herb extracts like chili and pepper extracts are exported from the African region despite having a huge natural diversity of herbs and spices in the region. The main reason is the lack of awareness among consumers about the utilities of the less known spice and herb extracts. However, in the African region itself, the market for spice and herb extracts is stable due to strong local demand.
North America is one of the key trade destination for spice and herb extracts from Africa, which are used in functional foods. This market is expected to grow at a CAGR of XX% from 2017 to 2022. The spice and herb extracts market is estimated to be valued at USD XX million in 2017 and is projected to reach a value of USD XX million by 2022.
The key drivers that have led to the growth of the spice and herb extracts market are the shifting consumer focus towards natural products and the increasing demand for convenience foods. Many companies, like Doehler, are focusing on natural herb & spice extracts as they are becoming popular in every segment of the food and beverage industry and offer plenty of scope for new and attractive taste creations. Despite positive prospects of the market in future, there are some constraints that are hindering the growth of the market, such as inefficient processing techniques leading to low-yields and poor quality products, adulteration, lack of awareness in the global market for locally grown herbs and spices, and availability of substitute products.
The spice and herb extracts market is segmented by type, product type, and application. By type, the spice and herb extracts are further segmented into celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme and other types of extracts. By product type, the market is sub-segmented into essential oils, seasonings, blends and others type of spice and herb extract-based products. The major demand is for chilly and pepper extracts, which are mostly used in convenience and street foods.
Spice and herb extracts have their applications in the food, beverage and pharmaceutical industries. In the food segment, they are used in dairy, dressings and marinades, meat and poultry, snacks and others. In beverages, they are used in soft drinks, tea and herbal drinks, alcoholic beverages, and other applications. For example, herbal extracts are added to lassi, an Indian curd-based drink that is sold worldwide.
South Africa’s (ginger, saffron, turmeric, thyme, bay leaves and curry) exports represent 2.44% of the world exports and their combined ranking in the world exports is at the 9th position. Celery extracts have commanded 0.1% of the world exports, and this segment is ranked number 23 in the world celery export. South African pepper extract exports represent only 0.35% of the world export, and its world ranking is at 21. Botswana, Namibia, Lesotho and Zambia, are producers in the South African region for extracts of ginger, saffron, thyme, bay leaves and curry leaves originating from South Africa. Botswana has commanded 24.7% share of exports, followed by Namibia with 20.1%, Lesotho with 11.4% and Zambia with 10.8% share. Ginger, saffron, turmeric, thyme, bay leaves and curry exports, combined, have decreased by 3% in value and 5% in quantity during the review period.
Some of the major players capturing the South American spice and herb extract market include:
Synthite Industries Ltd
Recent Industry Insight
“Dohler acquires Teawolf. Strengthens its position in trending botanical extracts.'
'Synthite eyeing ? 3000 cr turnover by 2020.'
The African market for herb and spice extract has a huge growth potential as ingredients in convenience foods. Regional herbal and spice extracts from countries like Kenya are becoming available in cuisines, worldwide. This has opened up sustainable market opportunities for small traders in the export business of herb and spice extracts. Since supplements having natural herb and spice extracts are becoming popular among North Americans, due to the increased health awareness, many North American companies have increased the import of raw ingredients from the African regions. They have established several R&D and processing centers within Africa.
Key Deliverables in the Study
Market analysis for Africa spice and herb extracts market, with region-specific assessments and competition analysis on the global and regional scales.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on both, global and regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is growing and identify the regions that are still untapped.
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.2 Research Designs
2.3 Study Timeline
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Key Findings
4. Market Dynamics
4.1.1 Increased Availabilty of International Cuisines in the Major Economies.
4.1.2 Shifting Consumer Focus Towards Natural Products
4.1.3 Increasing Demand for Convenience Foods
4.2.1 Inefficient Processing Techniques and Adulteration
4.2.2 Inconsistencies in the Prices of Spices and Herbs
4.2.3 Availability of Substitute Products
4.3.1 Positive Prospects for Small and Medium-Sized Exporters by Adopting Sustainability Measures
4.3.2 Increasing Demand for Flavor Variation in the Food Products
4.4 Porter's Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. Market Segmentation
5.1 By Type
5.2 By Product Type
5.2.1 Essential Oils
5.3 By Application
5.3.1 Food Applications
220.127.116.11 Dressings and Marinades
18.104.22.168 Meat and Poultry
5.3.2 Beverage applications
22.214.171.124 Soft Drinks
126.96.36.199 Tea and Herbal Drinks
188.8.131.52 Alcoholic Beverages
5.4 By Geogrpahy
184.108.40.206 South Africa
6. Competitive Landscape
6.1 Strategies Adopted by Players
6.2 Most Active Companies in the Past Five Years
6.3 Market Share Analysis
7. Company Profiles
7.1 Alkaloids Corporation
7.2 Cosmark Pty Ltd.
7.3 Döhler GmbH
7.4 DYNADIS SARL
7.5 Indena S.p.A.
7.6 James Finlay Limited
7.7 Kalsec® Inc.
7.8 K.Patel Phyto Extractions Pvt. Ltd.
7.10 McCormick & Company, Inc.
7.11 Naturex SA
7.12 Network Nutrition Pty Limited
7.13 Nutra Green Biotechnology Co.,Ltd
7.14 Organic Herb Inc
7.15 Plantextrakt GmbH & Co. KG
7.16 Sigma-Aldrich Corporation
7.17 Synthite Industries Ltd.