The new report by Expert Market Research titled, ‘Indian Exotic Herbs Market Report and Forecast 2023-2028’, gives an in-depth analysis of the Indian exotic herbs market price, assessing the market based on its segments like variety, sector, and distribution channels.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key drivers responsible for the market growth include:
The increasing utilisation of exotic herbs in variety of dishes and cuisines in India, owing to the increasing disposable income, heightened awareness about the nutritional value, and rising dine-out activities. The rising demand for hygienic exotic herbs is leading to increased availability of high-quality exotic herbs across supermarkets and hypermarkets.
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Over the forecast period, the increasing influence of the western culture in the country, coupled with the increasing inclination towards health and fitness, are likely to bolster the demand for exotic herbs in the country.
Furthermore, the favourable policies of the government aimed towards encouraging the use of traditional medicinal methods for treatment of chronic diseases are likely to propel the demand for exotic herbs owing to their medicinal properties.
Indian Exotic Herbs Industry Definition and Major Segments
Exotic herb is defined as a green plant which has a unique appearance, smell, and effect. It was originated in European and Middle Eastern area. These plants are utilised in a variety of applications owing to their medicinal and spiritual properties. Exotic herbs are also used in cooking as flavouring agents.
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On the basis of variety, the market can be segmented into:
- Lemon Grass
- Parsley Leaves
- Oregano Fresh
- Garlic Chives
- Rosemary Fresh
Based on sector, the market has been segmented into:
- Organised Sector
- Unorganised Sector
The significant distribution channels included in the market are as follows:
- Unorganised Retail
Indian Exotic Herbs Market Trends
The key trends in the exotic herbs market include the growing research and development activities in the pharmaceutical and nutraceutical industry, which is augmenting the demand for exotic herbs. In addition to this, the anticipated increase in utilisation of exotic herbs in medicinal beverages and immunity boosting formulations is likely to be a crucial trend in the market.
Moreover, favourable government policies, such as AYUSH scheme, are likely to be encouraging factors of the market in the coming years. Meanwhile, the thriving food and beverage industry, bolstered by the growing expansion of online platforms, are leading to an increased sale of exotic herbs.
Key Market Players
The major players in the market are:
- Shreenath Agro Tech Pvt Ltd
- Lawrencedale Agro Processing India Pvt Ltd.
- Nisarg Nirman Agro Products Pvt. Ltd.
- S. P. Herbs.
- Green Earth Fresh Produce (P) Ltd.
- Aayurmed Organic Herbals LLP
- Mother Herbs (P) Ltd
- Suminter India Organics
- All-Season Herbs Pvt. Ltd.
- Reliance Retail
- Big Basket
- Natures Basket Limited
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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