The herb is a plant whose leaves are generally used in cooking to flavor the dishes or as medicine. Basil, rosemary, thyme, parsley, and dill are all herbs. All parts of the plant are considered as herbs for instance resin, leaves, roots, flowers, seeds, root-barks, inner bark and pericarp. Herbs have many uses such as medicinal, culinary, and in some cases, spiritual. The demand for culinary products from many regions has augmented owing to globalization, and it is predicted that this will boost the market share of fresh herbs during the forecast period.
As per analysis, “Global Herbs Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)” some of the renowned companies operating in the global herbs market include International Taste Solutions, Archer Daniels Midland Company, Pacific Botanicals, Mccormick, Synthite Industries, Van Drunen Farms, Mountain Rose Herbs, Catz International, British Pepper & Spice and among others. To enhance their market position in the global herbs market, companies are now focusing on adopting a variety of strategies like recent developments, joint venture, collaborations, mergers & acquisitions, product innovation, and partnership.
Based on type, market is segmented as processed herbs and fresh herbs. Fresh herbs are becoming the most popular ingredient in many dishes, and they are added as a flavoring agent to add exquisite flavor. These herbs are generally distributed in the cut packed, whole packed, and potted forms. In addition, based on application, market is segmented as Business-to-Business (B2B) and Business-to-Consumer (B2C).
The market is driven by growth in preference for packages fresh herbs, followed by rise in popularity of cross-cultural cuisines and growth of foodservice industry. However, volatile commodities prices may impact the market. Moreover, rise in demand for organic fresh herbs is a leading opportunity for market.
The impact of the COVID-19 pandemic has been harsh and the global market for fresh herbs has been badly affected. Most of the fresh greens sold on the global market go straight to restaurants, and with the closure of restaurants due to the country’s closure, the entire herb market has been brought to a standstill. It is estimated that the fresh herb market will take some time to recover from the changing global situation.
The global fresh herb market is estimated to be growing at the fastest pace in recent years and is estimated to grow at the fastest pace due to the growing immigrant population in North America and European countries for instance the Russia, the UK, US, Germany, France, and Canada. This growing immigrant population prefers the cuisine of their own country, which leads to an increase in the popularity of cross-culture cuisines around the world. Additionally, the Asia-Pacific region dominates the global fresh herb market caused by largest herb producing field. China has the largest national market share in the Asia-Pacific region and the global fresh herb market. It is estimated that future of the global herbs market will be bright as a result of rise in demand for fresh eatable herbs during the forecast period.
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Ankur Gupta, Head Marketing & Communications