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Herb and Spice Processing in Australia Industry Data and Analysis
Herb and spice processors have faced difficult operating conditions over the past five years. While they’ve benefited from consumers’ increasing willingness to try new cuisines, flavours and food products, industry revenue has overall moderated, owing to contracting monetary policy, which has dampened downstream demand and limited consumer disposable incomes. Revenue for the herb and spice processing industry has declined at an annualised 2.3% over the past five years, amounting to $538.7 million in 2025-26, including a 1.6% decline in 2025-26. Heightened import penetration has negatively impacted industry revenue, with imported spices and herbs accounting for approximately one-fourth of domestic demand over the five-year period ending with 2025-26.
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What's included in this industry analysis
IBISWorld's research coverage on the Herb and Spice Processing industry in Australia includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Herb and Spice Processing industry in Australia operates under the ANZSIC industry code OD5288. Processors package herbs and spices for food production, hospitality and home cooking. The industry does not include fresh herbs and spices. Related terms covered in the Herb and Spice Processing industry in Australia include private-label products, wholesale bypass and food standards australia new zealand.
What's included in this industry?
Products and services covered in Herb and Spice Processing industry in Australia include Spices, Leafy herbs and Root herbs.
What companies are included in this industry?
Companies covered in the Herb and Spice Processing industry in Australia include McCormick Foods, Mars Wrigley and McCormick Australia.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Herb and Spice Processing industry in Australia.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Herb and Spice Processing industry in Australia.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Herb and Spice Processing industry in Australia.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Herb and Spice Processing industry in Australia. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Herb and Spice Processing industry in Australia. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Herb and Spice Processing industry in Australia. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Herb and Spice Processing industry in Australia. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Herb and Spice Processing industry in Australia.
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Frequently Asked Questions
What is the market size of the Herb and Spice Processing industry in Australia in 2026?
The market size of the Herb and Spice Processing industry in Australia is $538.7m in 2026.
How many businesses are there in the Herb and Spice Processing industry in Australia in 2026?
There are 90 businesses in the Herb and Spice Processing industry in Australia, which has grown at a CAGR of 0.7 % between 2021 and 2026.
How may import tariffs affect the Herb and Spice Processing industry in Australia?
The Herb and Spice Processing industry in Australia is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Herb and Spice Processing industry in Australia?
The Herb and Spice Processing industry in Australia is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Herb and Spice Processing industry in Australia grown or declined over the past 5 years?
The market size of the Herb and Spice Processing industry in Australia has been declining at a CAGR of 2.3 % between 2021 and 2026.
What is the forecast growth of the Herb and Spice Processing industry in Australia over the next 5 years?
Over the next five years, the Herb and Spice Processing industry in Australia is expected to grow.
What are the biggest companies in the Herb and Spice Processing industry in Australia?
The biggest companies operating in the Herb and Spice Processing industry in Australia are McCormick Foods, Mars Wrigley and McCormick Australia
What does the Herb and Spice Processing industry in Australia include?
Mixed spices and seasonings and Spices are part of the Herb and Spice Processing industry in Australia.
Which companies have the highest market share in the Herb and Spice Processing industry in Australia?
The company holding the most market share in the Herb and Spice Processing industry in Australia is McCormick Foods.
How competitive is the Herb and Spice Processing industry in Australia?
The level of competition is high and increasing in the Herb and Spice Processing industry in Australia.
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