Yahoo Finance Dried Herbs Global Market Report 2022
Major players in the dried herbs market are McCormick & Company, Inc. , Döhler, Pacific Botanicals, Mountain Rose Herbs, Van Drunen Farms, British Pepper & Spice Co Ltd, Synthite Industries Ltd. , Catz International, Cherry Valley Organics, Archer Daniels Midland Company, British Pepper & Spice Company, Sorich Organics, Hamps Bio Private Limited, Maduras Herbals, and Avi Naturals.
New York, Oct. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Dried Herbs Global Market Report 2022" - https://www.reportlinker.com/p06325431/?utm_source=GNW
The global dried herbs market is expected to grow from $5.35 billion in 2021 to $5.75 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The dried herbs market is expected to reach $7.12 billion in 2026 at a CAGR of 5.5%.
The dried herbs market consists of sales of dried herbs by entities (organizations, sole traders, and partnerships) that refers to washed, sorted, and sun-dried herbs.These herbs are more convenient and less expensive than fresh herbs.
These dried herbs are the dried leaf or stem parts of green plants that provide a longer-lasting and savory flavor. Dried herbs are ideal for moist cooking methods such as soups, stews, and braised dishes, where they impart their flavors and aromas.
The main forms of dried herbs are whole herbs and powdered herbs.The whole herbs refer to a form of dried herbs, which are generally dried and encapsulated.
The various nature of dried herbs includes organic and conventional.They are dried by several methods such as air drying, vacuum drying, and microwave drying.
The main products of dried herbs include oregano, rosemary, sage, savoury, mint, thyme, and bay leaves.
Western Europe was the largest region in the dried herbs market in 2021, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the dried herbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The dried herbs market research report is one of a series of new reports that provides dried herbs market statistics, including dried herbs industry global market size, regional shares, competitors with a dried herbs market share, detailed dried herbs market segments, market trends and opportunities, and any further data you may need to thrive in the dried herbs industry. These dried herbs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increase in consumption of processed food is expected to propel the growth of the dried herbs market going forward.The rising disposable income due to economic growth has led to increased demand for processed foods.
This consumption habit of processed foods in urban and young population have entered due to a lack of time for domestic cooking.Processed foods use dried herbs and other ingredients for flavoring or coloring to reduce the cooking times, leading to increasing demand for dried herbs by food processing companies.
For instance, In April 2021, according to a report published by the Ministry of Commerce & Industry, India’s export of processed food products increased by 26.51 % during April-February (2020-21) compared to the same period during the previous year. Furthermore, in the first 11 months of the fiscal year (2020-21), exports of miscellaneous processed items such as Indian snacks, sauces, starch products, and vegetable flours increased by 36%. The total value of processed product exports was INR 437,980 million ($5.5 billion). Therefore, increasing consumption of processed food is expected to boost the demand for dried herbs during the forecast period.
Strategic partnerships are the key trend gaining popularity in the dried herbs market.Companies operating in the dried herb market are partnering with relevant companies to leverage each other’s resources to develop new products and expand their presence into new markets.
For instance, In August 2019, Van Drunen Farms, a US-based food manufacturer company, announced their partnership with SouthAm Freeze Dry, where Van Drunen Farms will take a majority stake in SouthAm.The investment in SouthAm gives Van Drunen Farms a significant competitive edge for South and Central American fruits in the food, functional food, and supplement markets, as well as continuing SouthAm’s innovation in the production of native herbal, fruit, and vegetable ingredients.
This collaboration helps both companies to improve their access to global supplies, benefiting their respective consumer bases.
In March 2021, GM Marketing, a UK-based FMCG company, acquired Favourit Food for an undisclosed amount.This deal consists of developing GM Marketing’s strategy and future growth plans in the herbs & spices SECTOR and allowing them to invest in creating new job opportunities within the local area.
Favourit Food is a UK-based manufacturer of herbs & spices.
The countries covered in the dried herbs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report: https://www.reportlinker.com/p06325431/?utm_source=GNW
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