Fresh Herbs Market Report Overview
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The global fresh herbs market size was USD 3235.93 million in 2021 and is expected to reach USD 5783.77 million in 2031, exhibiting a CAGR of 5.98% during the forecast period.
Fresh herbs are leafy, delicious plants that are used sparingly to fragrance and garnish cuisine rather than to provide strength (which sets them different from veggies). Additionally, herbs are bursting with concentrate nutrients and health benefits, including a wealth of antioxidants, anti-inflammatories, and even naturally refreshing breath.
COVID-19 Impact: Interruption in Supply Chains to Deplete Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with fresh herbs experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
The market for fresh herbs has expanded dramatically in recent years, despite the reality that it is still small compared to the markets for fruits and vegetables. The COVID-19 pandemic had a significant impact, which had a negative effect on the global fresh herbs market growth. Since restaurants have closed as a result of national lockdowns, the large proportion of fresh herbs supplied on the international market are sold to them. As a result, the whole herb business has come to a standstill. The market for fresh herbs is anticipated to take considerable time to recover after the worldwide situation changes.
Latest Trends
"Availability in Conventional Loose Bunches to Intensify Market Magnification"
In addition, fresh herbs are widely available in conventional loose bunches in many different places, such as normal road markets and gardeners' markets. This continues to be the most reliable method of evaluating the quality of a product for many individuals. However, one thing seems certain: in the upcoming years, the fresh herbs market will continue to grow rapidly.
Fresh Herbs Market Segmentation
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- By Type Analysis
According to type, the market can be segmented into basil, chives, coriander, parsley, mint, Salicornia, others
Basil is the leading part of the type segment
- By Application Analysis
According to application, the market can be segmented into foodservice, food retail
Foodservice are the leading part of the application segment
Driving Factors
"Rising Popularity of International Cuisine to Boost Market Share"
The fresh herbs market share is anticipated to be fueled by the rising popularity of international cuisines. The fresh herbs market would grow in the upcoming years until 2025 as a result of consumers' increasing desire for packaged herbs, per the analysis. People now have greater access to a wider variety of real ethnic meals thanks to the expansion of global trade and travel. Sale of packed herbs are also being boosted by the growth of the organized retail industry, consumers' growing choice for buying groceries at hypermarkets and supermarkets in addition to online merchants. Furthermore, as the demand for certified organic herbs rises, market participants should anticipate significant growth opportunities. Because basil is a delicate plant that is prone to diseases and poor growing conditions, farmers and distributors favor hybrid varieties created by breeders.
"Increasing Adoption from the Younger Generations to Expand Market Forwarding "
The sturdier, more regular growth, faster growing rate, lesser losses, noticeably better yield, greater shelf life, and, more importantly, outstanding flavor more than make up for the higher seed cost of these hybrids. This also applies to dill, leaf celery, parsley, and chives. Increasing adoption from the younger generation and a rise in the number of highly specialized herb growers (from conventional producers with plastic or glass greenhouses to ultra-modern vertical gardens to small-scale rooftop farmlands in urban areas) having to look to stand out are driving up the popularity of living herbs in pots.
Restraining Factors
"Unstable Prices to Deplete Market Advancement "
Throughout the forecast period, unstable fresh herb costs are anticipated to impede the market's expansion. The region that produces the most herbs globally, and huge quantities of herbs are exported to those regions' local markets. In general, the production of herbs is quite unstable and is mostly controlled by environmental conditions like flooding, rains, and droughts, which leads to a mismatch between supply and demand and fluctuating prices. Throughout the forecast period, unstable fresh herb costs are anticipated to impede the market's expansion.
Fresh Herbs Market Regional Insights
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"Favourable Climatic Conditions to Foster Market Growth in Asia Pacific"
During the forecast period, it is predicted that the Asia Pacific region will grow at the fastest rate. The Asia Pacific market is expected to grow quickly due to factors which include the favorable climatic conditions and agriculture and farming activities. For herbs offerings, key manufacturers in the area continued to broaden their geographic and retail footprints, frequently in conjunction with promotional discount activities in the online stores.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- Herrmann Kraeuter (Germany)
- Van Vugt Herbs (Netherland)
- Vitacress Herbs (U.K.)
- Coolibah Herbs (Australia)
- Hermitage Produce (Australia)
- Agromediterranea (Spain)
- Holla-Fresh Pty Ltd (Australia)
- North Shore Greenhouses (U.S.)
- Australian Fresh Leaf Herbs (Australia)
Report Coverage
The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 3235.93 Million in 2021 |
Market Size Value By |
US$ 5783.77 Million by 2031 |
Growth Rate |
CAGR of 5.98% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global fresh herbs market expected to touch by 2031?
The global fresh herbs market is expected to touch USD 5783.77 million by 2031.
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What CAGR is fresh herbs market expected to exhibit during 2024-2031?
The fresh herbs market is expected to exhibit a CAGR of 5.98% over 2024-2031.
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Which are the driving factors of the fresh herbs market?
Rising popularity of international cuisine and increasing adoption from the younger generations to drive the fresh herbs market.
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Which are the top companies operating in the fresh herbs market?
Herrmann Kraeuter, Van Vugt Herbs, Vitacress Herbs, Coolibah Herbs, Hermitage Produce are the top companies operating in the fresh herbs market.