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Tarragon Market Key players and Future Forecast to 2027
3/10/2022
Rising global demand for ingredients and products that contain rich amount of essential nutrients as well as enhance the flavor and taste of food has been translating into widespread adoption of multiple herbs such as tarragon. Owing to its distinctive herbal flavor, tarragon is commonly used in French cuisines, fish, chicken, and even as a part of sauces, vinegar, and vinaigrettes. Tarragon is also used in association with other herbs such as basil, anise seed, fennel seed, and oregano to manufacture several medicinal formulas that help cure a number of diseases. Escalating demand for multi-herb formula and consumer awareness regarding the health benefits of different herbs are likely to direct the development of tarragon market at the global level.
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Tarragon Market – Notable Developments
Alabama Essential Oil Company, INDUKERN INTERNACIONAL, Frontier Co-op, DF World of Spices, and McCormick & Company are some of the leading players participating in the tarragon market.
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In September 2018, INDUKERN INTERNACIONAL, one of the key producer of tarragon essential oil, completed its acquisition of Diffusions Aromatiques SAS to improve its growth of flavors and fragrance division. The French ingredient company specializes in providing a range of natural, organic, and even synthetic ingredients to cosmetic, scent, and aromatherapy industries.
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In April 2018, Frontier Co-op, a leading tarragon market player, introduced a new line of products – Turmeric Twist Blends. The new three blends are formulated with organic spices for versatile daily use, savory dishes, and sweet snacks. The company is also known for its line of organic tarragon leaf and seasoning blend.
In addition to aforementioned notable developments, tarragon is gaining rising momentum among food & beverage manufactures. For instance, in August 2018, Brew Dr. Kombucha launched limited-edition of its fall season kombucha under the brand name Harvest, featuring apricot and tarragon flavors.
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Tarragon Market Dynamics
Gradual increase in the demand for tarragon can be largely attributed to its rich source of antioxidants which help prevent the growth of cancerous cells and fight free radicals in the human body. Consumption of tarragon is also associated with a number health benefits such as better functioning of the heart, liver, and kidneys, and improving the potassium content in the body. These are considered to be the important factors driving the overall growth of tarragon market.
Tarragon Market Gains Underpinned by Rising Demand for Multi-herb Formulas
Traditional herbal formulas of Chinese, Korean, and Japanese medicines generally comprise multiple herbs such as tarragon, basil, fennel seeds, and others in a single formula. Growing consumer inclination towards traditional medicines and treatment methods has led to a surge in the demand for products containing different type of herbs which may contribute to the growth of tarragon market. Rising adoption of multi-herb formulas which provide benefits to the heart, help improve the immune system, and promote digestion is also likely to complement the global expansion of tarragon market.
Rapid penetration of online retailing has been encouraging tarragon market players to sell their products on e-commerce sites and increase their profitability which in turn may strengthen the growth prospects of the market. They are also focusing on the addition of tarragon products in shelves of supermarkets, making it easily accessible to wide-ranging consumers and to gain more traction.
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Scarcity of Suppliers to Restrain Tarragon Market Growth
There is relatively less number of suppliers offering raw materials for manufacturing tarragon products which is expected to create hindrance in the growth of tarragon market. In addition, most consumers in various regions across the globe are not aware about the existence of tarragon which is considered to be one of the demand restraining factor. Further, lack of evidence-based efficacy of herbal formulas or products may continue to limit the expansion of tarragon market.
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