Industry Background:
From older times, spices had played a dynamic role in the lifestyle. Herbs and spices have been used for generations by people as food and to treat sicknesses. Bio-molecules in the plants play an essential role in health maintenance. They have served several roles through history, including as coloring agents, preservatives, flavoring agents, food additives and medicine. The active photochemical derived from these spices have delivered the molecular source for these actions. There are numerous medicinal uses of spices in daily life, many spices are used in kitchen and have assured medicinal activity like purgative, carminative, laxative, expectorant, diuretic etc. Spices such as turmeric, fenugreek, mustard, ginger, garlic and other have a wide variety of bio functions and their additive or synergistic actions are likely to guard the human body against a variety of insults. In whole world, India is the most renowned country for the spices and traditional medicine; these are having a extensive range of physiological and pharmacological properties. A spice is a dried seed, fruit, root, bark or flower of a plant or herb used in small quantities for flavor, color or as a preservative.This growth is primarily driven by Demand for Natural and Herbal Products
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Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Able Agro International (India), SOAP (Sapthsathi Medicinal Agriculture Project) (India), Frontier Natural Products Co-op (United States), Sun Impex (Netherland), Earthen Delight (India), Yogi Botanicals (India), Live Organics Pvt Ltd (India), Sydler India (India), Biova Gmbh (Germany), Olam International (Singapore), VLC Spices (India), Dohler Group (Germany), McCormick (United States), Associated British Foods Plc (United Kingdom), Ajinomoto Co, Inc. (Japan) and Kerry Group (Ireland), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Influencing Trend:
Increasing Demand for Turmeric due to Antioxidant Properties and Changing Buying Behavior of the Consumers
Market Growth Drivers:
Demand for Natural and Herbal Products, Growth in Cosmetic and Pharma Industry and Health and Wellness Properties of Organic Spices and Rising Consumer Health Awareness
Restraints:
Trade Regulations on Product Import and Inefficient Logistics
Opportunities:
Willingness to Pay Premium Price and Growth in the E-Commerce Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medicinal Spices Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medicinal Spices Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medicinal Spices players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medicinal Spices Study Sheds Light on
The Medicinal Spices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medicinal Spices industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medicinal Spices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.