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The dried herbs market has seen significant growth in recent years, expanding from $6.09 billion in 2023 to $6.43 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.6%. This growth over the historical period is attributed to traditional herbal medicine, culinary uses, preservation, and flavoring practices, global trade routes, and longstanding culinary and medicinal knowledge.
How Big Is the Global Dried Herbs Market Expected to Grow, and What Is Its Annual Growth Rate?
The dried herbs market is projected to experience strong growth in the coming years, reaching $8.32 billion by 2028, with a compound annual growth rate (CAGR) of 6.7%. This growth is driven by factors such as sustainability and organic farming practices, innovations in packaging and presentation, global culinary fusion, changing dietary preferences, and the rise of online retail and e-commerce. Key trends during the forecast period include advancements in drying technology, greater culinary exploration, increasing demand for organic varieties, the popularity of home gardening, and packaging innovations that preserve freshness.
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What Is Driving the Growth of the Dried Herbs Market?
The growth in the food service industry is expected to propel the growth of the dried herbs market going forward. The food service industry refers to businesses and establishments that prepare, serve, and deliver food and beverages to customers. The expanding food service industry, including restaurants, cafes, and catering services, contributes to the demand for dried herbs as chefs and food professionals often prefer the convenience and longer shelf life of dried herbs over fresh ones.
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Which Leading Companies Are Driving The Growth Of The Dried Herbs Market Share?
Major companies operating in the dried herbs market report are Archer Daniels Midland Company, Kraft Heinz Company, Pacific Botanicals, McCormick & Company Inc., Firmenich S A, Döhler Group SE, Robertet SA, Alpine Herb Company, Synthite Industries Ltd.
What Are The Key Trends Driving The Growth Of The Dried Herbs Market Size?
Leading companies in the dried herbs market are concentrating on creating innovative products like dry herb vaporizers. These devices are intended for consuming dry herbs, such as tobacco or cannabis, through vaporization instead of combustion. They work by heating the herb at a lower temperature, which allows active compounds to vaporize without burning the material.
How Is the Global Dried Herbs Market Segmented?
1) By Product Type: Oregano, Rosemary, Sage, Savory, Mint, Thyme, Bay Leaves
2) By Nature Type: Organic, Conventional
3) By Drying Method Type: Air Drying, Vacuum Drying, Microwave Drying
4) By Form Type: Whole Herbs, Powdered Herbs
Western Europe: The Leading Region in the Dried Herbs Market
Western Europe was the largest region in the dried herbs market in 2023, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the dried herbs global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Is the Dried Herbs Market?
Dried herbs are herbs that have been washed, sorted, and dried in the sun, offering a more convenient and cost-effective option compared to fresh herbs. These dried leaves or stems from green plants deliver a lasting and savory flavor, making them well-suited for moist cooking techniques like soups, stews, and braised dishes, where they release their rich flavors and aromas.
The Dried Herbs Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Dried Herbs Market Report: Trends, Opportunities, Strategies, and More
The Dried Herbs Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into the dried herbs market size, dried herbs global market drivers and trends, dried herbs global market major players, dried herbs competitors' revenues, dried herbs global market positioning, and dried herbs market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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