Fennel is a perennial herb member of the parsley family of herbs and spices which are also referred as Foeniculum Vulgare. Fennel is cultivated in Asia, North America, Europe, and Middle-East.
Fennel is the high valued plant which was cultivated by Romans, Greeks, Egyptians, Chinese, and India since ancient times. Fennel was cultivated by the ancient Romans for its aromatic fruits and succulent, edible shoots, and was well known to the ancient herbalists. India is the largest producer of fennel seed globally, and the major export markets are U.S., U.K., Singapore, UAE, Sri Lanka, Saudi Arabia, and Japan. Indian fennel seeds have its application in food, medicines, liqueurs, and perfumes.
The global demand for fennel seed powder has continued to rise in the past few years owing to the huge rise in the consumption of convenience foods, snacks, and confectionary. The growth of hotel, restaurants, and catering also had an enormous positive impact on the overall global consumption of fennel seed powder.
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Fennel Seed Powder Market Segmentation
Fennel seed powder market can be segmented by application, by end use industry, and by regions. By application, fennel seed powder market is segmented as meat & poultry products, snacks & convenience foods, bakery & confectionery, soups, sauces and dressings, frozen foods and beverages. Fennel seed powder market by end use industry is segmented into food & beverage, pharmaceuticals, cosmetics, and others. Food and beverage is a dominant segment in fennel seed powder market. Fennel seed powder market is further segmented by region as, Latin America, North America, Europe, Middle East and Africa, and Asia Pacific. In regional segments, Asia and North America are dominant markets, whereas, Europe and other developing markets such as Latin America and MEA possess the growth opportunities for fennel seed powder over the forecast period.
Fennel Seed Global Market Trends and Market Drivers:
The rising consumer awareness with regard to the medicinal benefits associated with the consumption of fennel seed is also expected to increase the demand for fennel seed powder globally. Fennel seed powder provides a variety of health benefits, as these are the excellent source of protein, dietary fiber, vitamins, minerals such as copper, iron, calcium, potassium, manganese, selenium, zinc, and magnesium and various beneficial antioxidants, which are anticipated to contribute to the growth of global fennel seed powder market over the coming years. The other benefits of fennel seed powder are that it helps in prevention of skin infections, helps in preventing graying of hair, reduces problems of blood pressure, protects from cancer, helps in the development of bone health, promotes weight loss, and helps the woman in preventing from menstrual cramps and other premenstrual symptoms.
Fennel seed market is mainly driven by increasing application and usage in the food industry. Fennel seed powder is high in demand as it imparts flavor and aroma to food. Dried fennel seeds are used as spices in cuisines globally and hence growing application in the food industry is expected to fuel the market growth of fennel seed powder.
The rising prices of fennel seed are restraining the growth of the market. However, increasing instances of unfair trade practices such as adulteration are expected to restrain the market growth. Though the prices of fennel seed powder are highly volatile and vary across different regions, the market is expected to grow at a significant rate.
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Fennel Seed Market Key Players:
Key global market players manufacturing fennel seed powder products include Herbs Egypt, Agro Crops, VLC spices, Nisarg Lifesciences India Pvt. Ltd, Sai probiotics, Mangalam Seeds, Mountain Rose Herbs, and Shimla Hills. Most key stakeholders have been exploring new opportunities through expansions and new product launches across the globe to avail a competitive advantage through combined synergies. Since past few years, the fennel seed powder market has witnessed an increase in demand globally for its application in food industry.