Star Anise Market Anticipates Healthy 5% CAGR, Expected to Cross Billion-Dollar Mark by 2030
The global star anise market is set to witness robust growth, with a projected CAGR of 5% during the period from 2023 to 2030. By the end of 2030, the market is expected to surpass a valuation of one billion dollars.
Key Market Insights
Star anise (Illicium verum), native to China and Vietnam, is a spice derived from the fruit of an evergreen tree. Its name is derived from the distinct star-shaped pod of the seed, which defines the plants appearance. Star anise is a popular spice in various cuisines, especially in Asian and Indian cooking, known for its strong, sweet, and licorice-like flavor. It is a key component of Chinese five-spice powder and is used to flavor a wide range of dishes, including soups, stews, sauces, and marinades. Its growing popularity in the culinary world, particula...