The herbs and spices market size is forecast to grow at a CAGR of 3.6% between 2024 and 2034. The market is expected to incline from USD 171,563.1 million in 2024 to USD 244,124.7 million by 2034 end. The accelerating utilization of herbs and spices in food items is fueling market expansion.
Emerging Trends in Dried Herbs and Spices Application
| Report Attribute | Details |
|---|---|
| Herb and Spice Market Size (2024) | USD 171,563.1 million |
| Market Anticipated Forecast Value (2034) | USD 244,124.7 million |
| Market Projected Growth Rate (2024 to 2034) | 3.6% CAGR |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global herb and spice market was valued at USD 167,874.1 million in 2019. According to FMI’s analysis, herbs and spices sales have grown at 3.34% CAGR between 2019 and 2023.
The herbs and spices market remained fragmented during this period, exhibiting the presence of various small and mid-tier manufacturers.
However, due to increasing collaboration activities between small & mid-tier manufacturers and top-tier companies, the number of small and medium companies has decreased, resulting in a more uniform and less diverse landscape in recent years.
| Attributes | Details |
|---|---|
| Herb and Spice Market Value (2019) | USD 167,874.1 million |
| Market Historical Growth Rate (CAGR 2019 to 2023) | 3.34% CAGR |
Due to the growing demand for natural food ingredients, the consumption of plant-based food ingredients is increasing as compared to microbial & fermented, and artificial food ingredients. The willingness of consumers to pay a premium price for a more natural product has changed the dynamics of the herbs and spices market.
For instance, in January 2017, Givaudan S.A. acquired Activ International to expand its product offerings for buyers. New inclusions include organic and natural flavors, seafood, marine extracts, and vegetable-based culinary solutions.
Principal Consultant
Packaged food and beverage manufacturers are using herbs and spices to meet the rising demand among consumers. For example, cinnamon spice, cinnamon-spiced tea, and apple cinnamon spritzer are a few of the many cinnamon-flavored drinks that are gaining popularity among consumers.
The demand for flavored alcoholic drinks like spiced rum, fireball cinnamon whisky, and cannella spirits is also increasing. This is because spices add exotic flavor to alcohol. For instance, in August 2019, Coca-Cola introduced a cinnamon-flavored Coke as a version of Coke Zero in the United Kingdom.
The table below represents the countries with a promising future for cooking spice and herb market players.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 5.9% |
| Germany | 4.2% |
| Japan | 4% |
| India | 4.3% |
| China | 4% |
The United States remains one of the most lucrative markets throughout the forecast period with a CAGR of 5.9% through 2034.
The rising immigrant population from Asia and Mexico to North America and their influence on local food platters is expected to increase the demand for spices and herbs in this region.
An increasing number of Indian, Italian, Mexican, and Chinese restaurants in the USA offer authentic cuisines fortified with different ingredients. Ready-to-cook spice mixes are also gaining popularity in the United States which can be attributed to the busy lifestyle of consumers looking for convenient food.
FMI has projected that Germany will remain as the most profitable market for herbs and spices throughout the forecasted period, having a significant share of the European market in 2024. The regional market is expected to have a CAGR of 4.2% through the projected years.
There has been a rise in the demand for clean-label herbs and spices among consumers in Germany. Manufacturers are emphasizing more on providing clean-label products to the consumers, as the consumers are becoming aware of the health benefits of consuming natural and organic herbs and spices.
FMI has projected China to follow a CAGR of 4% in consumption of herbs and spices during the forecast years. Owing to the health benefits of using herbs and spices in functional food, the demand for herbs and spices has increased in the country. Herbs and spices are used as functional ingredients in food products with digestion-resistant properties.
Herbs and spices often find places in various clinical treatments in the country. Chinese consumers in general display a strong inclination for herbal products. Coupled with this, the presence of some of the celebrated companies such as Infinitus (China) Co Ltd. has been aiding herbs and spices sales in the country.
A rise in the demand for herbs and spices in the Japanese market is expected at a CAGR of 4% between the years 2024 and 2034. Japan is heavily dependent on imports of herbs and spices from South and East Asian countries.
Cholesterol-lowering herbs and spices such as pepper, dried capsicum/pimento, ginger, Curcuma, cloves, and cinnamon are more in demand owing to their health benefits. Also, expansion strategies undertaken by some of the leading players are expected to bode well for the seasonings industry in the country.
India is currently a prominent supplier of herbs and spices, including cumin, ginger, chili, and turmeric. Through the projected period, the sales of herbs and spices are likely to increase at a rate of 4.3% per year.
In India, herbs and spices are mostly used in food and beverages. Along with this, they are also used for the treatment of human ailments using aloe vera, clove, cinnamon, mint, and black pepper.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Based on product type, the spice market segment is likely to contribute 64.3% of the total revenue in 2024. On the other hand, herbs are projected to grow at a higher rate over the forecast period.
| Attributes | Details |
|---|---|
| Top Product Type or Segment | Spices |
| Total Market Share in 2024 to 2034 | 64.3% |
Seasoning spices are gaining traction as they help lower sugar levels and cure inflammation, besides offering other health benefits. Spices such as clove, cinnamon, and cumin are known for their antimicrobial properties due to their chemical compounds and metabolites.
The demand for herbs is growing rapidly to treat chronic diseases and their prevention. Herbs help in preventing and managing cancer, heart disease, and diabetes. They also help mitigate blood clots and offer anti-tumor and anti-inflammatory properties. Moreover, culinary herbs are utilized to add color and flavor to a variety of meals.
The use of herbs and spices is mostly in the food industry accounting for almost 48.9% of the global market. This is because people prefer herbs and spices in their daily food and beverages.
| Attributes | Details |
|---|---|
| Top-End Use Segment | Food |
| Total Market Share in 2024 | 48.9% |
An increasing number of Indian, Italian, Mexican, and Chinese restaurants around the world, offering authentic regional cuisines has been resulting in high demand for spice ingredients. Cumin, cinnamon, paprika, cardamom, and pepper are some of the key native herbs and spices used in these cuisines.
The higher demand is attributable to the rising consumption of salads and dressings, resulting in the growing popularity of ethnic food. The easy availability of spices in supermarkets across the region is expected to fuel the growth of the herbs and spices market.
Innovations in the food and beverage industry are being made to meet the demand for healthy food products for human consumption without negotiating on the flavor, taste, texture, and nutritional qualities of the product.
Companies are focusing on generating more sales by developing sustainable herbs and spices packaging to cater to the evolved demand of consumers. Multinational companies producing herbs and spices are focusing on the expansion of their manufacturing facilities and acquiring local players that would complement their product offerings.
Notable Developments in the Global Herb and Spice Market
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 171,563.1 million |
| Projected Market Size (2034) | USD 244,124.7 million |
| Anticipated Growth Rate (2024 to 2034) | 3.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Product Type, By Sales Channel, By Form, By End Use Verticals, and By Region |
| Key Companies Profiled | Givaudan S.A; Kerry Group Plc.; Ajinomoto Co., Inc.; Firmenich SA; Takasago International Corporation; Olam International; Archer Daniels Midland Company; Robertet SA; Sensient Technologies Corporation; Kalsec Inc.; McCormick & Company, Inc.; Symrise AG; Frutarom Industries Ltd; Synthite Industries Ltd; International Taste Solutions Ltd. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global herb and spice market is estimated to be around USD 171,563.1 million in 2024.
The global herb and spice market is to grow at 3.6% during the forecast period.
The global herb and spice market is to be valued at USD 244,124.7 million by 2034.
The global herb and spice market was valued at USD 167,874.1 million in 2019.
The United States to witness a 5.9% CAGR in sales of herbs and spices through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product Type 5.1. Herbs 5.2. Spices 5.3. Paprika (Hot Pepper) 5.4. Cumin 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 6.1. Food & Beverages 6.2. Food Service 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form 7.1. Powder & Granules 7.2. Flakes 7.3. Paste 7.4. Whole/Fresh 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel 8.1. Direct 8.2. Indirect 8.2.1. Store-Based Retailing 8.2.2. Online Retail 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Nature 9.1. Organic 9.2. Vegan 9.3. Natural 9.4. Non-Genetically Modified Organism 9.5. Conventional 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Givaudan S.A 20.2. Kerry Group Plc. 20.3. Takasago International Corporation 20.4. Sensient Technologies Corporation 20.5. Archer Daniels Midland Company 20.6. Ajinomoto Co., Inc. 20.7. Symrise AG 20.8. Firmenich SA 20.9. Kalsec Inc. 20.10. Olam International 20.11. McCormick & Company, Inc. 20.12. Frutarom Industries Ltd 21. Assumptions & Acronyms Used 22. Research Methodology
Explore Food and Beverage Insights
View Reports
Herb and Spice Market
