Market Research Future (MRFR) reveals that the fresh herbs market can expect to reach USD 1,183.2 Million by 2027. It is likely that the global market size can soar at a rate of 3.9% over the analysis period (from 2020 to 2027).
Top Boosters and Key Restraints
Fresh herbs provide a number of health benefits, with some helping prevent the chances of developing cancer while others preventing bacterial growth. A few herbs also contain elements that facilitate neutralization of various types of carcinogens. Fennel is one herb that contains anti-inflammatory characteristics and therefore, witness substantial demand among consumers. Fresh herbs are sold the whole year-round, with major companies capitalizing on seasonal and holidays promotions to bolster their sales.
The market is also progressing on the back of expanding migrant population across various European and North American countries like Germany, the US, the UK, Russia, Canada and France. Immigrants influence others with their local cuisines, which helps foster the popularity of cross-culture dishes that include the use of fresh herbs. The rampant demand for natural and organic fresh herbs can present lucrative opportunities to the major firms in the years ahead.
The fresh herbs industry has a number of small and large companies that are competing intensely to gain a higher business position. Many of these players have extensive geographical presence, sell herbs at low prices, and also boast of a loyal customer base. Since most of the consumers of fresh herbs are price-sensitive, brands strive to lower the prices of their products to maintain their growth in the global market.
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The market for fresh herbs has been studied with respect to type, category as well as distribution channel.
Different fresh herb types available are basil, chives, parsley, coriander, salicornia, mint, and more. Revenue-wise, basil is the top segment in the global market while chives can be the fastest growing segment at a rate of 4.9% since these are largely used for preparing fish, soups, potatoes, and various dishes.
Category-wise, the fresh herbs market segments are organic and conventional. Conventional herbs took the lead in 2018 but it is expected that the organic herbs segment can expand at a higher rate between 2019 and 2025. The mounting preference for natural food products in Europe and North America as these boost immunity and are chemical-free aid in the growth of the organic category segment.
Primary distribution channels are food retail and foodservice. In the year 2018, the highest revenue generating segment was foodservice.
Asia Pacific will most likely clinch the highest spot in the global market in the next few years, reaching USD 356.19 million by 2027. China can be the highest gainer in the coming years. Fresh herbs are quite prominent in a number of Southeast Asian cuisines. In particular, Laos, Thailand, Vietnam and Cambodia depend largely on leafy fresh herbs. Since herbs are delicate crops that require extensive post-harvest management, the rich soil structure, high fertility, good temperature and sunlight encourage their growth in the region. Also, given the fact that various countries in the region are agrarian and their economy primarily depends on the agriculture sector, the fresh herbs industry is bound to fare well in the ensuing years.
Europe should capture the fastest CAGR in the next couple of years, thanks to the soaring preference for fresh culinary herbs and the rising consumers’ inclination towards healthier and natural food products. The fresh herbs that note considerable sales in Europe include parsley, mint and basil. Consumers in the region are inspired by cooking programmes as well as online recipes on various social media channels. As a result, they are more willing to try new food products such as fresh herbs while cooking.
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Shenandoah Growers, Inc. (the US), Rocket Farms (US), Nomad Foods (UK), Pacific Botanicals (US), Organic Herb Trading Company (UK), Vitacress (UK), Langmead Herbs (UK), Van Vugt Kruiden (Netherlands), Al-Hanin Herbs (Egypt), Spisa Group (Sweden) are recognized by MRFR as the important fresh herbs manufacturers in the research report.
Duncan Family Farms, a multi-regional, fourth-generation, organic and certified farm developer, has introduced its new Organic Fresh Herb Line in the market. Oregano, basil, chives, bay leaves, lemongrass, dill, mint, and marjoram, are some of the fresh herbs that are part of the latest product line launched by the company.
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