Global Coriander Produce Market Analysis (2023 - 2030)
The Global Coriander Produce Market was worth $2.56 billion in 2022, and it is estimated to increase at a CAGR of 5.2% from 2023 to 2030.
In the market for coriander produce, the COVID-19 pandemic has had a considerable effect. One of the main effects is the supply chain disruption, which has led to a scarcity of personnel, transportation, and packaging supplies. Because of this disturbance, the supply of coriander has been reduced, raising costs. Due to the pandemic-related shutdown of restaurants and other food service establishments, there is now a glut of coriander on the market. Coriander demand in the retail sector has increased as a result of the shift in consumer behaviour towards cooking at home, somewhat offsetting this decline. Export restrictions imposed by some countries to ensure domestic supply have limited the export opportunities for coriander producers, affecting their income. The pandemic has also led to the implementation of health and safety measures, such as social distancing and sanitization, which have increased operating costs for farmers and traders. Overall, these factors have resulted in price fluctuations, shortage of supply, and reduced income, highlighting the vulnerability of the coriander produce market to external shocks.
Consumer demand is a significant driver of the coriander production market. Coriander is widely used in various cuisines, including Indian, Thai, Mexican, and Middle Eastern, and its popularity has increased in recent years due to its health benefits. As consumers become more health-conscious and seek out more natural ingredients, the demand for coriander is likely to continue to grow. The market for coriander products may be strongly impacted by government policies, including subsidies, import/export rules, and agricultural policy. For instance, if farmers receive subsidies for growing coriander, there may be more production and their availability may increase on the market, which may result in reduced costs. Contrarily, import restrictions enforced by some nations may make it difficult to import coriander, which would reduce supply and drive up prices in those markets. As consumers become more health-conscious and seek out more natural ingredients, the demand for coriander is anticipated to continue to grow.
KEY MARKET INSIGHTS
- Based on Type, although each kind of coriander has unique market demands, dried coriander seeds are anticipated to grow at the quickest rate in the market for coriander products. Customers will find dried coriander seeds to be more useful and cost-effective than fresh coriander since they have a longer shelf life. Because of their distinctive flavour and aroma, they are also commonly used in many different cuisines, like Indian, Middle Eastern, and South American. Moreover, their usage in the pharmaceutical and food processing sectors significantly contributes to the demand for coriander seeds. Several foods, including sausages, pickles, and baked goods, employ coriander seeds as a flavouring ingredient.
- Based on Application, the coriander crop market is likely to expand most in the area of culinary use. A common ingredient in various cuisines throughout the world, including Southeast Asian, Middle Eastern, Mexican, and Indian, is coriander. Turmeric is used to add flavour and scent to a variety of foods, including stews, soups, salads, and curries. Many causes, including the expanding global population, shifting dietary preferences, and the appeal of ethnic cuisines, are fuelling the increase in coriander demand in the culinary industry. Also, customers who are health conscious are buying more coriander because of its many health advantages, such as its anti-inflammatory and antioxidant characteristics.
- Based on Distribution Channel, the online retail segment is projected to grow the most in the coriander produce market distribution channel segment. The growth in demand for online retail is driven by various factors, including the increasing adoption of e-commerce platforms, the convenience of online shopping, and the rise of contactless delivery services, especially during the COVID-19 pandemic. Additionally, online retail offers a wider selection of coriander produce from various suppliers and regions, providing consumers with more choices and the ability to compare prices easily. Online retail platforms also provide product information and reviews, which help consumers make informed purchase decisions.
- Based on region, in terms of regional segmentation of the coriander produce market, the Asia Pacific region is anticipated to see the fastest growth rate. The demand for coriander is rising in the Asia Pacific area due to a number of causes, including the region's growing population, shifting dietary preferences, and the appeal of ethnic cuisines. India accounts for a sizeable portion of the Asia Pacific coriander industry and is both the world's largest producer and consumer of coriander. An essential ingredient in many Indian recipes, including curries, chutneys, and snacks, coriander is utilised liberally. The demand for coriander has also increased as a result of the use of coriander in traditional medicine in India and other Asian nations.
- The Kraft Heinz Company, Pacific Spice Company Inc., Olam International Ltd., Frontier Co-op, DS Group, Mountain Rose Herbs, Badia Spices Inc., and Spices Board India are a few of the major companies that dominate the coriander produce market. These businesses sell a variety of coriander goods, including coriander leaves, coriander powder, and entire coriander seeds. They can meet the expanding demand for coriander in several places throughout the world because to their robust distribution network. To adapt to shifting customer tastes and maintain their competitiveness in the market, these businesses are also concentrating on growing their product portfolios, implementing sustainable practises, and spending money on research and development.
Segmentation Analysis
Coriander Produce Market - By Type:
- Fresh Coriander
- Dried Coriander
- Coriander Powder
Coriander Produce Market - By Application:
- Culinary
- Non-culinary purpose
- Medicines
- Cosmetics
- Others
Coriander Produce Market - By Distribution Channel:
- Direct- to -Consumer
- Supermarket
- Hypermarket
- Convenience Store
- Online retailers
Coriander Produce Market - By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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