South America Spice & Herb Extracts Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Spice & Herb Extracts Market Analysis
South America Spice and Herb Extracts Market is projected to register a CAGR of 5%, during the forecast period, 2020-2025.
- Supplements consisting of natural herb and spice extracts are becoming extremely popular among South Americans, due to the increased health awareness, which has led to increased import of raw materials from the South American regions, like Peru, Colombia, and Brazil.
- Furthermore, the rising awareness among consumers, regarding various health issues, has led to an increasing number of applications of natural spices and herbs extracts. The demand for ready-cooked and easy-to-prepare food is growing in South America, which, in turn, is boosting the market for spices and herbs extract in the region.
South America Spice & Herb Extracts Market Trends
This section covers the major market trends shaping the South America Spice & Herb Extracts Market according to our research experts:
Growing Demand for Processed Food
The key drivers that have led to the growth of the spice and herb extract market in South America are the shifting consumer focus towards natural products and increasing demand for convenience foods. Moreover, the growing trend for organic herb and spice extracts has opened up new market opportunities for producers. Further, South America is also a huge hub to produce aromatic herbal and spice extracts, which is in demand from the producers of aromatic waters.
Brazil holds the Largest Share in the Market Studied
Brazil dominates the South America spice and herb extracts market, as spices and herb extracts are used for various applications in the food and beverage industry, especially in bakeries. In South America, the demand for the organic food market has grown with the demand for organic spice/herbs extracts, which in turn boosting the market studied in the region. Moreover, with the growing prominence of Asian cuisines in the country, Brazil imports spices and herb extract from Asia-Pacific countries, such as India, China, Vietnam, and others. For instance, Asian spices and seasonings are observing heavy demands from Indian restaurants like Tulsi Restaurants, Tandoor Restaurante Indiano, Samosa Restaurant, Reet Namaste, Restaurante Indiano Bawarchi, and others situated in Sao Paulo, Brazil, this in turn, is boosting the market studied in the country.
South America Spice & Herb Extracts Industry Overview
The South America spice and herb extracts market is a partially competitive market, with the presence of various major and local players. Players adopt various strategies to occupy the market share. The major strategies adopted are acquisitions, expansions, and new product launches. Dohler Gmbh, and Firmenich, Synthite Industries Ltd. are the major players of the market.
South America Spice & Herb Extracts Market Leaders
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Merck KGaA
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Döhler GmbH
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Firmenich
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Givaudan (Naturex SA)
*Disclaimer: Major Players sorted in no particular order
South America Spice & Herb Extracts Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Product Type
- 5.1.1 Cinnamon
- 5.1.2 Cumin
- 5.1.3 Chili
- 5.1.4 Coriander
- 5.1.5 Cardamom
- 5.1.6 Oregano
- 5.1.7 Pepper
- 5.1.8 Ginger
- 5.1.9 Other Product Types
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5.2 By Application
- 5.2.1 Food Applications
- 5.2.2 Beverage Applications
- 5.2.3 Pharmaceuticals
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5.3 By Geography
- 5.3.1 Brazil
- 5.3.2 Argentina
- 5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Dohler GmbH
- 6.4.2 Firmenich
- 6.4.3 Synthite Industries Ltd.
- 6.4.4 Merck KGaA
- 6.4.5 Organic Herb Inc
- 6.4.6 Nutra Green Biotechnology Co. Ltd
- 6.4.7 Givaudan (Naturex SA)
- 6.4.8 Indena S.p.A
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South America Spice & Herb Extracts Industry Segmentation
The South America spice and herb extracts market is segmented by product type and application, and geography. Based on product type, the market is segmented into cinnamon, cumin, chili, coriander, cardamom, oregano, pepper, ginger, and other product types. On the basis of application, the market is segmented into food applications, beverage applications, pharmaceuticals. Based on geography, the report provides an analysis of the regional market, which includes Brazil, Argentina, and Rest of South Amerca.
| By Product Type | Cinnamon |
| Cumin | |
| Chili | |
| Coriander | |
| Cardamom | |
| Oregano | |
| Pepper | |
| Ginger | |
| Other Product Types | |
| By Application | Food Applications |
| Beverage Applications | |
| Pharmaceuticals | |
| By Geography | Brazil |
| Argentina | |
| Rest of South America |
South America Spice & Herb Extracts Market Research FAQs
What is the current South America Spice and Herb Extracts Market size?
The South America Spice and Herb Extracts Market is projected to register a CAGR of 5% during the forecast period (2024-2029)
Who are the key players in South America Spice and Herb Extracts Market?
Merck KGaA, Döhler GmbH, Firmenich and Givaudan (Naturex SA) are the major companies operating in the South America Spice and Herb Extracts Market.
What years does this South America Spice and Herb Extracts Market cover?
The report covers the South America Spice and Herb Extracts Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Spice and Herb Extracts Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Spice and Herb Extracts Industry Report
Statistics for the 2024 South America Spice and Herb Extracts market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Spice and Herb Extracts analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
