The Dried Herbs Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Dried Herbs Global Market Report 2024, The dried herbs market size has grown strongly in recent years. It will grow from $6.09 billion in 2023 to $6.43 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to traditional herbal medicine, culinary traditions, preservation and flavoring, global trade routes, traditional culinary and medicinal knowledge.
The dried herbs market size is expected to see strong growth in the next few years. It will grow to $8.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to sustainability and organic farming, innovations in packaging and presentation, global fusion in cuisine, evolving dietary preferences, online retail and e-commerce growth. Major trends in the forecast period include technological advancements in drying, increased culinary exploration, rising demand for organic varieties, home gardening and day trends, packaging innovations for freshness.
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 market during the forecast period.
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The dried herbs market covered in this report is segmented –
1) By Product Type: Oregano, Rosemary, Sage, Savory, Mint, Thyme, Bay Leaves
2) By Nature Type: Organic, Conventional
3) By Drying Method Type: Air Drying, Vacuum Drying, Microwave Drying
4) By Form Type: Whole Herbs, Powdered Herbs
Major companies operating in the dried herbs market are focused on developing innovative products such as dry herb vaporizers. A dry herb vaporizer is a device designed for the consumption of dry herbs, such as tobacco or cannabis, by vaporization rather than combustion. It is used to heat the material at a lower temperature, causing the active compounds to vaporize without reaching the point of combustion. For instance, in August 2023, AUXO, a Colombia-based global leader in vaporization technology launched the ‘Celsius’. It is the newest flagship 2-in-1 vaporizer designed for both dry herbs and concentrates, offering exceptional vapor performance within seconds. This compact vaporizer, suitable for both dry herbs and concentrates, comes equipped with a 360° rotatable mouthpiece and a distinctive airflow window, ensuring remarkably uniform heat distribution. Celsius employs triple heating technology, unlocking the full potential of aromas and flavors in just 6 seconds for a seamless consumption experience.
The dried herbs market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- Archer Daniels Midland Company
- Kraft Heinz Company
- Pacific Botanicals
- McCormick & Company Inc.
- Firmenich S A
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