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Europe Spice and Herb Extracts Market - Growth, Trends and Forecasts (2019 - 2024)

  • ID: 4827979
  • Report
  • Region: Europe
  • 90 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • Alkaloids Corporation
  • All-Season Herbs Pvt Ltd.
  • Dohler GMBH
  • Firmenich SA
  • Indena S.P.A
  • Mccormick Company, INC.
  • MORE
Market Overview

The Europe spice and herb extracts market is projected to reach a value of 8.62 billion USD in 2024 by recording a CAGR of 6.7% during the forecast period (2019-2024).
  • The demand for spices and herbs in Europe has been growing immensely over the years. This high growth rate can be attributed to trends such as healthy living, an interest in new tastes and convenience.
  • A major percentage of the spices and herbs extracts used in Europe are imported due to a lack of domestic production.
  • European buyers are increasingly willing to buy from exporters who follows to the legal standards of the European union. The changing prices of the commodities and the presence of other substitute products are the threats for the market.
Scope of the Report

The Europe spice and herb extracts market is segmented by Product Type into Celery, Cumin, Chilli, Coriander, Cardamom, Oregano, Pepper, Basil, Ginger, Thyme, and Others. Others include Vanilla, Orange, Lemon Oil, Citrus Oils and Resinoids Oils. By Application the market is segmented into Food Applications, Beverage Applications, and Pharmaceuticals; and by Geography.

Key Market Trends

Pepper holds the largest market share

Pepper holds the largest market by Source in the European Spice and Herb extract market. It holds almost 30% of the market share. The four marketed type of pepper are black, white, red and green. Pepper grows in areas with humid tropics, adequate rainfall and proper warmth for its growth. In 2016 there was a declining trend for black and white. They faced a decline of 11% and 9% respectively. The increased production and export in Vietnam and the dropped productions in other countries were the major reasons. Germany, UK, France and Spain are the major markets of pepper extracts. Netherlands is the major re-exporter of the product.

Germany Dominates The Market

Europe is the largest market for spice and herbs extracts globally. Despite low production, Europe is much inclined towards the import of spice, herbs and their extracts from developing region such as Asia-Pacific and the Middle East and Africa. Germany dominates the European market by holding a major share of around 30%. Changing consumer taste preferences, healthy living habits, and convenience are the primary factors driving the spice and herbs extract market in Germany. Germany is the largest importer of spice in Europe holding a share above 25%. Another growing trend in the country is the inclination towards the Asian cuisines such as Chinese, Continental, Japanese etc. The major spices consumed in Germany are peppers and allspice, while major herbs consumed are thyme and oregano.

Competitive Landscape

Europe spice and herb extract market is a partially consolidated market with the presence of various major and local players. Players adopt various strategies to occupy the market share. The major strategies adopted are aquisitions, expansions and new product launches. McCormick & Company, Inc., ABF, and Kerry Group are the major players of the market.
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alkaloids Corporation
  • All-Season Herbs Pvt Ltd.
  • Dohler GMBH
  • Firmenich SA
  • Indena S.P.A
  • Mccormick Company, INC.
  • MORE
1 INTRODUCTION
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY
3.1 Market Overview

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 By Source Type
5.1.1 Celery
5.1.2 Cumin
5.1.3 Chilli
5.1.4 Coriander
5.1.5 Cardamom
5.1.6 Oregano
5.1.7 Pepper
5.1.8 Basil
5.1.9 Ginger
5.1.10 Thyme
5.1.11 Others
5.2 By Application
5.2.1 Food Application
5.2.1.1 Dairy
5.2.1.2 Dressings, Soups and Sauces
5.2.1.3 Meat and Poultry
5.2.1.4 Snacks and Convenience Food
5.2.1.5 Others
5.2.2 Beverage Applications
5.2.2.1 Soft Drinks
5.2.2.2 Tea and Herbal Drinks
5.2.2.3 Alcoholic Beverages
5.2.3 Pharmaceuticals
5.3 Geography
5.3.1 United Kingdom
5.3.2 France
5.3.3 Germany
5.3.4 Italy
5.3.5 Russia
5.3.6 Spain
5.3.7 Rest of Europe

6 COMPETITIVE LANDSCAPE
6.1 Strategies adopted by Key players
6.2 Most Active Companies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Alkaloids Corporation
6.4.2 All-Season Herbs Pvt Ltd.
6.4.3 Dohler GMBH
6.4.4 Firmenich SA
6.4.5 Indena S.P.A
6.4.6 Olam
6.4.7 Mccormick Company, INC.
6.4.8 Naturex SA

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • Alkaloids Corporation
  • All-Season Herbs Pvt Ltd.
  • Dohler GMBH
  • Firmenich SA
  • Indena S.P.A
  • Olam
  • Mccormick Company, INC.
  • Naturex SA
Note: Product cover images may vary from those shown
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