Saturday, 20 April 2024
Thursday, 10 Aug 2023 12:00 am

Europe Dried Herbs Market is expected to reach US$ 894.02 million by 2030

Europe Dried Herbs Market is growing at a CAGR of 4.5% to reach US$ 894.02 million by 2030 from US$ 628.90 million in 2022 by Type.

By The Insight Partners

Rising Interest in Home Cooking Drives Europe Dried Herbs Market Growth

According to our latest market study titled “Europe Dried Herbs Market Forecast to 2030 – COVID-19 Impact and Country Analysis – by Type,’’ the Europe dried herbs market size is expected to grow from US$ 628.90 million in 2022 to US$ 894.02 million by 2030; it is expected to register a CAGR of 4.5% from 2022 to 2030.

Restaurants and food service outlets remained shut due to the COVID-19 outbreak in 2020, which encouraged people to cook their meals at home. According to the survey conducted by Premier Foods in the UK, 73% of the people enjoyed home cooking during the lockdown. Also, 81% of surveyed consumers reported that health remains the key priority for cooking food at home, while some said they enjoy spending time in the kitchen and experimenting with new ingredients and cuisines. The same study further stated that the UK consumers have gained confidence in their culinary skills and have become passionate about cooking. Europeans are increasingly adopting home cooking due to the rising concerns about synthetic food additives such as artificial flavors, colors, preservatives, and sugar in packaged food and increasing awareness related to the negative impacts of packaged food consumption on health. In addition, home cooking allows having more control over the ingredients. Food cooked with fresh ingredients is healthier than packaged, ready-to-eat food. Cooking meals at home also ensures that the food is prepared in a hygienic environment.

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPRE00030008

Dried herbs and spices are natural and healthy flavor enhancers. These ingredients help increase the functional appeal of the food. Herbs such as basil, marjoram, bay leaves, ginger, turmeric, parsley, and thyme contain antioxidants, vitamins, and free radicles. They also possess antimicrobial and antibacterial properties that help fight infections; reduce stress, anxiety, and inflammation; and regulate blood sugar levels. Thus, rising interest in home cooking, increasing demand for natural food flavorings, and benefits of dried herbs and spices drive the Europe dried herbs market growth.

Many manufacturers of dried herbs in Europe are introducing their direct-to-consumer (D2C) shopping websites where consumers can shop for various legitimate products. This factor can provide a competitive advantage to such companies. Sonnentor GmbH, an Austria-based manufacturer of herbs, spices, and herbal teas, has a D2C website where customers can access various herbs and spices from the company’s brands. The company offers multiple payment options and free shipping for orders above € 39 (US$ 42.87) across Germany and Austria. It also provides free shipping in European Union countries at a minimum order value, which differs from country to country. Thus, the benefits of shopping herbs and spices through e-commerce channels will positively impact the Europe dried herbs market in the future.

Koninklijke Euroma BV, Sonnentor Krauterhandels GmbH, McCormick & Co Inc, Kotanyi GmbH, Verstegen Spices & Sauces UK\ Ltd, Steenbergs Ltd, Shender Group Ltd, Country Products Ltd, Tongmaster Seasonings Ltd, and Forest Whole Foods Ltd are among the key players operating in the Europe dried herbs market. These companies partner with other market players  to expand their product portfolio and customer reach. For instance, in June 2021, Koninklijke Euroma BV announced a strategic partnership with Marubeni Corporation to deliver innovative products based on herbs and spices to meet growing consumer demand. Such initiatives are expected to provide strong potential to the market players in the coming years.

Impact of COVID-19 Pandemic on Europe Dried Herbs Market

Before the COVID-19 pandemic, the Europe dried herbs market was majorly driven by strong demand for natural flavoring ingredients, rising awareness regarding the health-related benefits of herbs, and growing interest of consumers in exploring different cuisines. However, the COVID-19 outbreak significantly disrupted the agricultural supply chains. Lockdowns, trade bans, and border restrictions hampered the production and supply of herbs and spices in Europe. The agricultural yield was reduced significantly due to lockdown restrictions, labor shortage, and nationwide business shutdown. Initially, in 2020, consumers started panic buying due to the fear of lockdown, which created a massive shortage of dried herbs. Moreover, the reduced import volume of herbs and spices due to the international trade ban created a supply shortage. This factor resulted in price hikes. Therefore, various dried herbs manufacturers in Europe reported a drop in sales of their products.

In 2021, the governments of European countries relaxed various reguations, including lockdowns and business shutdowns. The resumption of operations in the manufacturing units positively impacted the dried herbs market in Europe. Manufacturers overcame the demand and supply gap as they were permitted to operate at total capacity. This factor positively impacted the Europe dried herbs market growth.

The report segments the Europe dried herbs market as follows:

Based on type, the Europe dried herbs market is segmented into marjoram, basil, cilantro/coriander, parsley, thyme, oregano, bay leaves, dill, spearmint, peppermint, chamomile, hibiscus, and others. Based on country, the Europe dried herbs market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe.  

Contact Us
Contact Us: The Insight Partners 
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

The Insight Partners :    https://www.theinsightpartners.com

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
© The News and Media Division of The Insight Partners 2024 | All Rights Reserved | Privacy Policy