North America Spice and Herb Extracts Market 2017 - 2022

  • ID: 4115053
  • Report
  • Region: North America, United States
  • 120 pages
  • Mordor Intelligence
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FEATURED COMPANIES

  • Alkaloids Corporation
  • Döhler GmbH
  • Firmenich
  • Kalsec® Inc.
  • Lehmann&Voss&Co.
  • Naturex SA
  • MORE

Market Insights

In North America, the market for spice and herb extracts is expected to grow at a CAGR of XX% from 2017 to 2022. The 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 market has a good trade potential, especially for small-scale farmers in regions like the US and the Mexico, where a significant local demand exists for spices and herb extracts. A large proportion of extracts traded in both, local and export markets, are produced by small-scale farmers, and the global trade provides them with multi-billion US dollar earnings.

Market Dynamics

The key drivers leading to the growth of the spice and herb extract markets are the increased availability of international cuisines in the major economies, shifting consumer focus towards natural products and 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.

Market Segmentation

The spice and herb extract market is segmented by type, product type, and application. By type, 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.

Regional Analysis

There is a stable market in North America for certain established herb and spice extracts, such as uña de gato. However, the products that have the most promise for the current and coming trends in the North American markets are those considered as ‘functional food products’, superfoods, or more specifically, those that can be considered GRAS (generally recognized as safe) in the United States or as foods under the Novel Foods Regulation (under the Canadian Food and Drugs Act).

Many African botanical extracts are sold in North America that are considered GRAS or have received novel food approval in Canada. Other African natural products, currently, available in the North American market include rooibos, honeybush and other herbal tea extracts, as well as, devil’s claw, which is marketed as a dietary supplement. Herbal tea extracts from South Africa are in high demand, currently, and exported in significant quantities. An emerging key trend in the tea sector is to be natural, with the more beneficial, novel and unusual ingredients attracting most consumer attention. Trends for traceable, organic and fair-trade ingredients are also becoming more important, and Africa has become a key trade hub for the North American region, as it offers many exotic herbal and botanical ingredients with these qualities to the market.

Some of the major players capturing the spice and herb extract market include:

  • Döhler GmbH
  • Synthite Industries Ltd.
  • Kalsec® Inc.
  • Naturex SA
  • Recent Industry Insight

“Dohler acquires Teawolf. Strengthens its position in trending botanical extracts."

"Synthite eyeing 3000 cr turnover by 2020."

Future Spotlight

There is a significant scope for small and medium-sized exporters in the herb and spice extracts market, especially from those belonging to Mexico, in case it adopts sustainability measures. There has been an increased focus and investments in the food and beverage industry to develop new flavors and aromas using spice and herb extracts, mainly for convenience foods and confectionery segments. The increasing demand for natural preservatives has opened a line of the market for herb and spice extracts. Many consumers are becoming aware of the curative properties of herb and spice extracts. This has led to an increased market for the use of these extracts in the nutraceuticals and cosmetic industries.

Key Deliverables in the Study

  • Market analysis for North American spice and herb extract 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.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alkaloids Corporation
  • Döhler GmbH
  • Firmenich
  • Kalsec® Inc.
  • Lehmann&Voss&Co.
  • Naturex SA
  • MORE
1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition

2. Research Approach & Methodology
2.1 Introduction
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 Drivers
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 Restraints
4.2.1 Inconsistencies in the Prices of Spices and Herbs
4.2.2 Availability of Substitute Products
4.3 Opportunities
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
4.3.3 Growing Number of Aging Population

5. Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitute Products and Services
5.5 Degree of Competition

6. Market Segmentation
6.1 By Type
6.1.1 Celery
6.1.2 Cumin
6.1.3 Chili
6.1.4 Coriander
6.1.5 Cardamom
6.1.6 Oregano
6.1.7 Pepper
6.1.8 Basil
6.1.9 Ginger
6.1.10 Thyme
6.1.11 Others
6.2 By Product Type
6.2.1 Essential Oils
6.2.2 Seasonings
6.2.3 Blends
6.2.4 Others
6.3 By Application
6.3.1 Food Applications
6.3.1.1 Dairy
6.3.1.2 Dressings and Marinades
6.3.1.3 Meat and Poultry
6.3.1.4 Snacks
6.3.1.5 Others
6.3.2 Beverage Applications
6.3.2.1 Soft Drinks
6.3.2.2 Tea and Herbal Drinks
6.3.2.3 Alcoholic Beverages
6.3.2.4 Others
6.3.2.5 Others
6.3.3 Pharmaceuticals
6.4 By Geogrpahy
6.4.1 USA
6.4.2 Canada
6.4.3 Mexico
6.4.4 Others

7. Competitive Landscape
7.1 Strategies Adopted by Players
7.2 Most Active Companies in the Past Five Years
7.3 Market Share Analysis

8. Company Profiles
  • Alkaloids Corporation
  • All-Season Herbs Pvt. Ltd.
  • Cosmark Pty Ltd.
  • DYNADIS SARL
  • Döhler GmbH
  • Firmenich
  • James Finlay Limited
  • Kalsec® Inc.
  • Kuber Impex Limited
  • Lehmann&Voss&Co.
  • McCormick & Company, Inc.
  • Nantong Sihai Plant Extracts Co., Ltd.
  • Naturex SA
  • Network Nutrition Pty Limited
  • Nutra Green Biotechnology Co., Ltd. 
  • Organic Herb Inc.
  • Plant Extracts International Inc.
  • Plantextrakt GmbH & Co. KG
  • Prinova Group LLC.
  • Sigma-Aldrich Corporation
  • Synthite Industries Ltd.
9. Appendix
9.1 Disclaimer
9.2 Sources
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  • Alkaloids Corporation
  • All-Season Herbs Pvt. Ltd.
  • Cosmark Pty Ltd.
  • DYNADIS SARL
  • Döhler GmbH
  • Firmenich
  • James Finlay Limited
  • Kalsec® Inc.
  • Kuber Impex Limited
  • Lehmann&Voss&Co.
  • McCormick & Company, Inc.
  • Nantong Sihai Plant Extracts Co., Ltd.
  • Naturex SA
  • Network Nutrition Pty Limited
  • Nutra Green Biotechnology Co., Ltd.
  • Organic Herb Inc.
  • Plant Extracts International Inc.
  • Plantextrakt GmbH & Co. KG
  • Prinova Group LLC.
  • Sigma-Aldrich Corporation
  • Synthite Industries Ltd.
Note: Product cover images may vary from those shown
5 of 5
Note: Product cover images may vary from those shown
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