Transparency Market Research illustrates the competitive market in the dried herb industry including The Kraft Heinz Company, Mountain Rose Herbs, Van Drunen Farms, Robertet SA, and Pacific Botanicals. There are several players in the competitive and fragmented global dried herbs market. The manufacturing companies are concentrating on introducing organic herbs due to growing consumer awareness about natural ingredients. These manufacturers are also integrating different strategies to dry herbs without affecting their natural flavor and quality. There’s a continuous effort taken to enhance the shelf life of dried herbs. This allows herbs manufacturers to sustain in the competitive market. Rising awareness about organic herbs and health benefits is likely to play a pivotal role in the competitive global dried herbs market.
Herbs are diverse in nature. They have natural flavor and can be used in various streams. Herbs are dried and their moisture content is removed using various techniques. Herbs are perishable in nature. However, dried herbs have a long shelf life. The global dried herbs market is expected to grow at CAGR 4.7 % during the forecast period. According to the estimation, the global dried herbs market is likely to hit revenue generation of US$4, 6127.7 million by the end of 2026 from US$ 2875.7 million in 2018.
Regionally, South America is said to be the cultivation hub for these herbs and North America is a distribution channel for the same in the global dried herbs market. Dried herbs are used in various B2B segments such as food processing industry, medicinal sector, cosmetic industry, etc. This acts as a catalyst for the global dried herbs market expansion. However, food processing will play a major role in market expansion.
Fast Lifestyle to Fuel Growth
With the fast- paced lifestyle in major cities, people look for convenient and fast food. This creates the demand for processed food in the market. Processed food sector offers easy to eat or ready to cook food with dried herbs as flavoring and taste enhancing agents. There’s rising demand for food such as pickles, sauces, beverages, etc. This drives the global dried herbs market to grow.
The Rising influence of western culture acts as a driver to boost the global dried herbs market to expand. With rapid urbanization and western culture, there has been an increase in the number of restaurants, cafes, hotels, etc. This in turn, creates demand for dried herbs from such food service providers, owing to the widening of the global dried herbs market.
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Dried herbs are not used in the food processing sector alone. Dried herbs have varied other application. They are used in cosmetics industries and pharmaceutical sector too. Herbs have medicinal value and dried herbs are being used in formulating medicines. Skin is one of the sensitive parts. Cosmetic industries use dried herbs for their healing and medicinal properties. These are used in skin care, hair care, and personal care products. Thus, the global dried herbs market is expected to see
Organic Herbs an Opportunity
Foodservice providers such as hotels, restaurants, and cafes have been using synthetic flavoring agents and food colors to enhance the taste, aroma, and appeal of the food. However, with rising consumer awareness there is a growing demand for organic and natural dried herbs. Natural and organic herbs are said to eliminate ill effects of synthetic flavors. Organic movement across the world is likely to up soar the global dried herbs market. Dried herbs are extensively being used food and beverage sector. They are used in smoothies, shakes, herbal teas, etc. Therefore, organic dried herbs provide a huge opportunity for the global dried herbs market.