About Herbs-
Herb is a plant whose leaves are used in cooking to add flavour to food, or as medicine. These can be used fresh or dried. Fresh herb contain higher antioxidant levels compared to processed or dried herb. Consuming herb may help to prevent and manage heart disease, cancer, and diabetic. It may also help to reduce blood clot and provide anti-inflammatory and anti-tumour properties. Herb also used to mask unpleasant household odours and to enhance the taste of dull food.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 13.14% |
Herbs is a fragmented market due to the presence of various players. The players are focusing on strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Herbs- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
HerbThyme Farms (United States), Spisa Group (Sweden), GrowUp Farms Group (United Kingdom), Kerry Group PLC (Ireland), Pacific Botanicals (United States), Langmead Herbs (United Kingdom), Organic Herb Trading Company (United Kingdom), Superior Fresh (United States), Wing Seed Company (Netherland), BEOVITA (Germany), Schaper & Brummer (Germany) and Van Vugt Herbs (Netherland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nomad Foods (United Kingdom), Rocket Farms (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Herbs- market by Type (Culinary Herbs ( Stevia, Lemongrass, Garlic, Oregano, Others), Medicinal Herbs ( Feverfew, Jewelweed, Elderberry, Mullein, Others) and Ornamental Herbs ( Lavender, Fennel, Chicory, Bee Balm, Others)), Application (Food & Beverages, Pharmaceuticals, Healthcare & Personal Care and Others) and Region.
On the basis of geography, the market of Herbs- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Category, the sub-segment i.e. Conventional will boost the Herbs- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Disturbution Channel, the sub-segment i.e. Online will boost the Herbs- market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of new and innovative herbal products such as supplements and skincare. and Integration of herbs into beauty and personal care products.
Market Growth Drivers:
Increasing awareness of health benefit associated with herbal consumption., Rising demand for natural products., Increasing demand in the food & beverage industry. and Rising demand for traditional medicines.
Challenges:
Supply chain disruptions. and Insufficient funding for research on the efficacy and safety of herbal medicines.
Restraints:
Lack of standardization and quality control measures in the herbal product industry., Dependence on seasonal factors affecting the availability of certain herbs. and Limited shelf life of herbs.
Opportunities:
Expansion of herbal products into international markets due to globalizations. and Development of nutraceuticals and functional foods.
Market Leaders and their expansionary development strategies
In February 2022, Sierra Sage Herbs acquired Creso Pharma Limited. The acquisition of sierra sage herbs and company’s product range major milestone for creso pharma. It marks entry into US CBD market and provides a strong foundation to rapidly scale up operations, product development, and sales, as well as further M&A transactions.
In September 2021, Naturecode launched new range of dry herbs and Ayurvedic wellness products. Leading an ayurvedic lifestyle an assurance for long and healthy life. Ayurvedic products made using the best of nature, and hence they are harmless and free of side effects.
Key Target Audience
Herbs Manufacturer, Herbs Distributors, Manufacturer & Producers of Herbal Medicines, Investors, Research and Development and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.