According to a recent survey conducted by ChemView Consulting, the Global Herb & Spice Extracts Market grew at a CAGR of 4.8% between 2017-2021 and is estimated to be US$ 11,943.2 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 4.6% and is expected to reach a valuation of US$ 18,725.7 Mn by 2032 end.
Herbs seeds, stems, and flowers are used to make herbal extracts. Spice extracts are flavourings made from stems, nuts, berries, barks, and vegetables that are sweet and sour. Spice and herb extracts are used to impart flavours, colours, and preserve food goods as well as in foods, beverages, pharmaceuticals, and cosmetics.
The market is being driven by elements including rising demand for convenience foods and the rising appeal of international cuisine in different nations. Inefficient techniques for adequate storage, on the other hand, serve as a market restraint.
Growing consumer knowledge of the therapeutic benefits of herbal and spice extracts presents a significant opportunity for market expansion, but it also presents a difficulty due to a lack of infrastructure for production and delivery.
Details are provided by a rival about the extracts of spices and herbs market. The company's financials, revenue generated, market potential, investment in R&D, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance are among the details that are included. The information above only relates to the companies' market focus on extracts of spices and herbs.
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A list of some of the key suppliers present in the market are:
- Givaudan SA
- Fermanich SA
- Kerry Group Plc.
- Takasago International corporation
- Frutarom Industries Ltd
- Dohler GmbH
- Foodchem International Corporation
- Archer Daniels Midland Company
- Ajinomoto, Symrise AG
- Naturex SA
- Olam International
- Company Robertet SA
- Sensient Technologies Corporation
- Synthite Industries Ltd
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- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals & Materials, Food & Beverages, Packaging, Oil & Gas, New & Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
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