South America Spice and Herb Extracts Market - Growth, Trends, and Forecast (2020 - 2025)

South America Spice and Herb Extracts Market is projected to register a CAGR of 5%, during the forecast period, 2020-2025.

• Supplements consisting of natural herb and spice extracts are becoming extremely popular among South Americans, due to the increased health awareness, which has led to increased import of raw materials from the South American regions, like Peru, Colombia, and Brazil.
• Furthermore, the rising awareness among consumers, regarding various health issues, has led to an increasing number of applications of natural spices and herbs extracts. The demand for ready-cooked and easy-to-prepare food is growing in South America, which, in turn, is boosting the market for spices and herbs extract in the region.

Key Market Trends

Growing Demand for Processed Food

The key drivers that have led to the growth of the spice and herb extract market in South America are the shifting consumer focus towards natural products and increasing demand for convenience foods. Moreover, the growing trend for organic herb and spice extracts has opened up new market opportunities for producers. Further, South America is also a huge hub to produce aromatic herbal and spice extracts, which is in demand from the producers of aromatic waters.

Brazil holds the Largest Share in the Market Studied

Brazil dominates the South America spice and herb extracts market, as spices and herb extracts are used for various applications in the food and beverage industry, especially in bakeries. In South America, the demand for the organic food market has grown with the demand for organic spice/herbs extracts, which in turn boosting the market studied in the region. Moreover, with the growing prominence of Asian cuisines in the country, Brazil imports spices and herb extract from Asia-Pacific countries, such as India, China, Vietnam, and others. For instance, Asian spices and seasonings are observing heavy demands from Indian restaurants like Tulsi Restaurants, Tandoor Restaurante Indiano, Samosa Restaurant, Reet Namaste, Restaurante Indiano Bawarchi, and others situated in Sao Paulo, Brazil, this in turn, is boosting the market studied in the country.

Competitive Landscape

The South America spice and herb extracts market is a partially competitive market, with the presence of various major and local players. Players adopt various strategies to occupy the market share. The major strategies adopted are acquisitions, expansions, and new product launches. Dohler Gmbh, and Firmenich, Synthite Industries Ltd. are the major players of the market.

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