New York, Oct. 4, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of “Dried Herbs Global Market Report 2022” –
The global dried herbs market is expected to grow from $5.35 billion in 2021 to $5.75 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The dry herb market is expected to reach $7.12 billion in 2026 with a CAGR of 5.5%.
The dried herbs market consists of sales of dried herbs by entities (organizations, individual traders and corporations) referring to washed, sorted and sun-dried herbs. These herbs are more convenient and less expensive than fresh herbs.
These dried herbs are the dried leaves or stem parts of green plants that provide a long-lasting, flavorful flavor. Dried herbs are ideal for moist cooking methods like soups, stews, and casseroles, where they impart their flavors and aromas.
The main forms of dried herbs are whole herbs and powdered herbs. Whole herbs refer to a form of dried herbs, which are usually dried and encapsulated.
The diverse nature of dried herbs includes organic and conventional. They are dried by various methods such as air drying, vacuum drying, and microwave drying.
Major dried herb products include oregano, rosemary, sage, savory, mint, thyme, and bay leaf.
Western Europe was the largest region in the dry herbs market in 2021 and is expected to be the fastest growing region in the forecast period. Regions covered in dried herbs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The Dried Herbs Market research report is one of a series of new reports providing statistics of the Dried Herbs market, including global Dried Herbs industry market size, regional shares, competitors with Dried Herbs market share dry herbs, detailed dry herb market segments, market trends and opportunities. , and any additional information you may need to thrive in the dry herb industry. This dry herbs market research report offers a comprehensive perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The increase in the consumption of processed foods is expected to drive the growth of the dried herbs market in the future. Increased disposable income due to economic growth has led to increased demand for processed foods.
This habit of consuming processed foods in the urban and young population has entered due to the lack of time for the domestic kitchen. Processed foods use dried herbs and other ingredients for flavoring or coloring to reduce cooking times, leading to higher food demand for dried herbs. processing companies.
For example, in April 2021, according to a report published by the Ministry of Commerce and Industry, the export of processed food products from India increased by 26.51% during April-February (2020-21) compared to the previous year. same period of the previous year. Also, in the first 11 months of the fiscal year (2020-21), exports of various processed items, such as Indian snacks, sauces, starch products and vegetable flours, increased by 36%. The total value of exports of processed products was INR 437.98 billion ($5.5 billion). Therefore, rising consumption of processed foods is expected to drive the demand for dried herbs during the forecast period.
Strategic partnerships are the key trend gaining popularity in the dry herb market. Companies operating in the dry herbs market are partnering with relevant companies to leverage each other’s resources to develop new products and expand their presence in new markets.
For example, in August 2019, Van Drunen Farms, a US-based food manufacturing company, announced its partnership with SouthAm Freeze Dry, where Van Drunen Farms will have a majority stake in SouthAm. The investment in SouthAm gives Van Drunen Farms a significant competitive advantage. advantage for South and Central American fruits in the food, functional food and supplement markets, as well as continuing South American innovation in the production of native herbal, fruit and vegetable ingredients.
This collaboration helps both companies improve their access to global supplies, benefiting their respective consumer bases.
In March 2021, GM Marketing, a UK-based consumer goods company, acquired Favorite Food for an undisclosed amount. This agreement is to develop GM Marketing’s strategy and future growth plans in the herbs and spices SECTOR and allow them to invest in creating new job opportunities. within the local area.
Favorite Food is a UK based manufacturer of herbs and spices.
Countries covered in the dried herbs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and US.
Read the full report:
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need, instantly, in one place.