Europe Spice and Herb Extracts Market

The Europe spice and herb extracts market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing demand for spices and herbs in recent years in Europe.

Spice and herb extracts are mixed with other ingredients to enhance flavor of food products. These extracts are a mixture of herbs and alcohol that are dissolved in water. The solid matter is removed from the dried or fresh herbs, leaving the oils blended with the alcohol. Spice and herbal extract are the result of this extraction procedure.

Spice and herb extract are made up of the volatile essential oil and non-volatile resinous portion, which contains the flavor components and colors, and reflects the essence of the spice. Spice and herb extracts can be used in place of spice powder in food and taste formulations without affecting the flavor.

Market Trends, Drivers, Restraints, and Opportunities:

• Healthy living, interest for multi-cuisine food products, and convenience have contributed to the growth of the market.
• Rising inclination of food and beverage manufacturers toward natural flavoring agents form synthetic agents is driving the market growth.
• Consumers are buying products from exporters who adhere to European Union legal standards. The market is threatened by changing commodity prices and the availability of substitute items, which can hamper the market.
• Lack of indigenous production has resulted into the imports, which can create opportunities for new players in the market.

Scope of the Report

The report on the Europe spice and herb extracts market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Europe Spice and Herb Extracts Market Segment Insights

Pepper segment is expected anticipated to constitute a key market share

Based on products, the market is divided into celery, cumin, chili, coriander, cardamom, oregano, pepper, basil, ginger, thyme, and others. The pepper segment is expected to anticipated to constitute a key market share during the forecast period. Pepper is the most preferred herb extract in Europe. It holds approximately 28% of the market share. However, the chili segment is anticipated to hold a significant share of the market in the coming years. The amount of fresh chili peppers imported into Europe from developing nations has increased at a healthy rate.

Dairy segment is expected to grow at a rapid pace

Based on applications the Europe spice and herb extracts market is divided into food applications, beverage applications, and pharmaceuticals. The food applications segment is further segmented into dairy, dressings, soups & sauces, meat & poultry, snacks & convenience food and others. The dairy segment is anticipated to grow at a rapid pace during the forecast period due to rising consumption of dairy products to fulfill the protein requirement of the body. On the other hand, the beverage application segment is further divided into soft drinks, tea & herbal drinks, and alcoholic beverages. The tea segment is anticipated to grow at a healthy rate during the forecast period. Growing awareness regarding advantages of tea such as the ability to boost the immune system, strengthen bones and teeth, and lower the risk of cardiovascular illnesses is expected to grow the market segment. The pharmaceuticals segment is anticipated to grow at a robust rate during the forecast period. Natural ingredients such as natural oils and chemical compounds are present in the spice and herbal extract, which has been used widely by various pharmaceutical companies across the country.

Germany is anticipated to constitute a considerable market share

In terms of geography, the Europe spice and herb extracts are classified as the UK, Germany, France, Italy, Spain, and Rest of Europe. Germany is expected to constitute around 25% of the market share. The spice and herbs extract market in Germany is being driven by changing consumer taste preferences and healthy living practices. However, rising preference for Asian cuisines including Chinese, Continental, and Japanese is anticipated to fuel the country’s market growth.

Segments

Segments Covered in the Report

The Europe spice and herb extracts market has been segmented on the basis of

Products

• Celery
• Cumin & Chili
• Coriander
• Cardamom
• Oregano
• Pepper
• Basil
• Ginger
• Thyme

Applications

• Food Applications
  • Dairy
  • Dressings
  • Soups & Sauces
  • Meat & Poultry
  • Snacks & Convenience Food
• Beverage Applications
  • Soft Drinks
  • Tea & Herbal Drinks
  • Alcoholic Beverages
• Pharmaceuticals

Geography

• The UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

Key Players

• Kalsec
• Kerry Group
• McCormick
• Dohler Synthite

Competitive Landscape

Key players competing in the Europe spice and herb extracts market are Kalsec; Kerry Group; McCormick; and Dohler Synthite

Companies are adopting strategies such as acquisitions, expansions, and capacity expansion to expand their market share.