June 17, 2024
Dried Herbs Market

Dried Herbs Market to Witness High Growth Due to Increasing Demand for Convenience Foods

Dried herbs provide culinary flavors and aromas essential for various cuisines. They are easy to store and transport. Dried herbs are commonly used in soups, salads, gravies, and marinades due to their concentrated flavors. The convenience of dried herbs along with their increased shelf-life is driving their demand in the convenience food industry. The growing ready-to-eat food trends have increased the demand for dried herbs globally.

The Dried Herbs Market is estimated to be valued at US$ 5.65 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Dried herbs are made by removing moisture from fresh herbs which helps in preserving them for longer periods.

Key Takeaways

Key players operating in the Dried Herbs market are Mevive International, All-Season Herbs Pvt. Ltd., British Pepper & Spice Company, McCormick and Company, Inc., DF World of Spices GmbH, Koninklijke Euroma BV, Paulig Group, Olam International, Kräuter Mix GmbH, RAMÓN SABATER S.A.U., Naturalin, Husarich GmbH, Royal Spices, Elite Spice, U.S. Spice Mills Inc., Verstegen Spices & Sauces B.V., Aum Agri Freeze Foods, Aadhunik Ayurveda, Flex Foods, and Saipro Biotech Private Limited.

The Dried Herbs Market Trends provides various opportunities such as product innovation, expansion to emerging markets, and demand from organic food sector. Technological advancements in drying techniques help improve quality and shelf life of dried herbs.

Market Drivers

The increasing demand for convenience foods is a key driver for the dried herbs market.Ready-to-eat meals demand flavored ingredients which is fueling dried herbs consumption.Changing lifestyle and lack of time for food preparation has increased demand for convenience foods using dried herbs. Growing online retail of herbs aided by e-commerce industry is also promoting the dried herbs market.

Challenges in dried herbs market:

Some of the key challenges in the dried herbs market include volatile weather conditions affecting availability of herbs, supply chain disruptions due to Covid-19 pandemic, and shortage of skilled labour for harvest and processing of dried herbs. Changes in climate are leading to unpredictable weather patterns which can damage herb crops and reduce yields. The pandemic significantly impacted the supply chain as lockdowns disrupted transportation and trade routes. Finding and retaining experienced farm workers also remains a hurdle.

SWOT Analysis

Strengths: Ability to preserve herbs and retain flavor and nutrients for longer duration compared to fresh herbs. Provides versatility and ease of use in culinary applications.

Weaknesses: Processing and drying requires special equipment and techniques. Loss of some volatile compounds impacting flavor compared to fresh. Premium pricing compared to fresh herbs.

Opportunities: Growing awareness about health benefits of herbs driving stronger demand. Innovation in dried herb blends and extracts opening new product segments. Rapid expansion of foodservices industry boosting commercial demand.

Threats: Vulnerability of herb crops to climate change effects like droughts and floods. Stiff competition from fresh herbs and other spices. Volatility in commodity prices impacting input costs.

Geographical regions:

Europe accounts for the largest share in the dried herbs market currently in terms of value due to high per capita herb consumption. Countries like France, Italy, Spain and Germany have strong culinary traditions incorporating diverse dried herbs. The Asia Pacific market is expected to witness the fastest growth during the forecast period supported by rising incomes, westernization of diets, and expansion of food industries in major countries. China, India, Indonesia and Vietnam represent high potential markets in the region.

The Middle East and Africa region is also emerging as an important geography driven by demand from Gulf countries with affluent populations. North America has significant demand from established food processing and flavouring industries, though growth is slower compared to developing markets.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it