Anise Extract Market: Opportunities, Challenges, Strategies, Industry Verticals & Forecasts

Industry Insights

Anise extract is extracted from a herb called anise, which is native to Southwest Asia and Eastern Mediterranean regions. It is commonly known as aniseed or star anise. Anise extract is commonly used in baking and cooking, especially in cakes & cookies, due to its strong licorice flavor. Anise extract adds a unique flavor to various dishes.

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Anise extract is widely used in regions, such as Europe and Latin America, in dishes such as pizzelle, springerle, pfeffernusse, picarones and biscotti. Anise extract is also used to add flavour to beverages such as Taki, French anisette and Greek ouzo. Due to the increasing consumer preference for new flavours in baked food in the Asia Pacific and Americas, the growth of the anise extract market is expected to be high in these regions over the forecast period. Thus, investors who have invested in the anise extract market can expect high returns in the upcoming period.

The increasing trend of opting for foods of different flavours worldwide, mostly in the Americas and Asia Pacific countries, is boosting the anise extract market, as anise extract is used in various cuisines to add flavor. Anise extract contains a distinct flavour that enhances the taste of foods. Anise extract is rarely used in home cooking owing to its lack of popularity in home-cooked food. However, the popularity of anise extract is increasing as it is an unusual flavour and an increasing number of people are becoming familiar about the taste of anise extract as several food industries are using it as a source of new flavor. Apart from the above-mentioned applications, anise extract is also used in herbal medicine, hence the increasing demand for herbal medicines in India and the nearby regions is expected to boost the anise extract market in these regions.

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Some of the key manufacturers and suppliers operating in the anise extract market are McCormick & Company, Inc., Watkins Incorporated, Red Stick Spice Company, Cook Flavoring Co, Tone Brothers, Inc., The Kroger Co., Marshalls Creek Spices, Specialty World Foods, Shanghai Huibo International Trade Co., Ltd. and Butler’s Extracts. Moreover, a large number of food spices and herbal care industries are showing interest in introducing anise extract in their product portfolios, which is also expected to increase the demand for anise extract in the future.

Due to rapid urbanisation, an increasing number of people do not like to cook their own food and prefer readymade food products such as cakes and cookies of different flavours. Moreover, in the European and American cultures, numerous bakery product are consumed on different occasions.

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