Herb and Spice Processing in Australia - Industry Market Research Report

Ground down: Supermarkets' tendency to promote their private-label products will crush profitability

Herb and spice processors have benefited from an increasing willingness among consumers to try new food products and flavours. Industry revenue has grown at an average annual rate of 1.2% a year over the five years through 2022-23, to total $533.1 million. This includes a decline of 1.1% in 2022-23. Cultural trends favouring higher quality and healthier foods have driven industry revenue higher. Nonetheless, price competition at the retail level has flowed upstream to processors, hampering industry revenue performance. Industry operators process and package herbs and spices for use in food production, hospitality and home cooking. The industry does not include fresh herbs and spices. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.