SEASONINGSHERBS & SPICES

A S I A P A C I F I C 20 1 4

Seasonings, Herbs & Spices

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WESTERN EUROPE EASTERN EUROPE NAFTA CENTRAL & SOUTH AMERICA ASIA PACIFIC MIDDLE EAST & AFRICA

Volume usage 313,860 tonnes 124,063 tonnes 515,565 tonnes 68,884 tonnes 309,391 tonnes 38,742 tonnes

Volume growth rate

2004 to 2009 1.5% 4.0% 1.8% 4.3% 3.2% 2.5%

Market value $1.3 billion $0.5 billion $2.0 billion $0.4 billion $1.4 billion $0.2 billion

Forecast value growth rate

2009 to 2014 1.7% 2.9% 1.6% 3.4% 2.9% 2.1%

Key Markets

UKGermanyFranceSpainItaly

RussiaUkrainePoland

USA Brazil ChinaJapanIndia

Turkey

Highlights

> UK is the largest market by volume

> Usage in Spain is forecast to grow by 4.9%

> Meat & savoury products is the largest sector

> Russia is the largest market

> Snacks is one of the fastest growing sectors for seasonings

> The market in Ukraine is forecast to be worth $115m by 2014

> USA accounts for 87% share of the market by volume

> Snacks is the largest sector

> Usage in Mexico is forecast to grow by 4.9%

> Meat & savoury products is the largest sector

> Brazil is the fastest growing market

> China is the largest market

> Usage in India is forecast to grow at a rate of 5.2%

> Sauces & dressings accounts for 25% of seasonings usage

> Meat & savoury products accounts for almost half total usage of seasonings

> Turkey is the largest market

ASIA PACIFIC

309,391 tonnes

NAFTA

515,565 tonnes

WESTERN EUROPE

313,860 tonnes

MIDDLE EAST & AFRICA

38,742 tonnes

23%9%

CENTRAL & SOUTH AMERICA

68,884 tonnes

22%

All data for 2009. Source: RTS Resource. See report for full list of definitions

38%

Global Overview

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EASTERN EUROPE

124,063 tonnes

The e!ects of recession

Despite the current global recession, the focus does not have to be on cheapness and ‘value’. This is (and always has been) a question of perspective. Declines in

dining out or consumption of ready meals open up other opportunities which may comprise added value meals or components. Even in a recession, many consumers will still have considerable disposable incomes and average

food purchases today take up a much smaller proportion of overall expenditure than they did in the past. So, despite the undoubted pressures, opportunities will remain.

Consumers will still want to indulge, treat themselves and try

new tastes. They will also continue to be interested in healthier eating and in overall well-being. Perhaps towards the end of the forecast period, as the economic situation

improves, ready meals, added value meal centres and snacks may provide a stronger path to even further growth and development of foods, providing that consumers can be convinced of their suitability.

The food market and ingredients

The task of the food ingredient supplier is, arguably, one of the most demanding. To be successful, the supplier not only needs to assess and respond to latest consumer trends and demands but must also understand the complexities of the market and the supply chain - as well as its own relationships with food manufacturers and

retailers. All of these are necessary in order to understand the demands of the market as a whole and thereby e!ectively identify new opportunities and satisfy customer requirements.

These complexities and demands of the market increase the need for information. To plan for the future e!ectively requires a total view of the market and its many developments. In addition, many of the market pressures being experienced by

manufacturers and retailers are being downloaded to suppliers who, in turn, are expected to become more professional, market-aware and pro-active.

Encouraging signs

Whilst severe market pressures will prevail there are more encouraging signs that, over the longer-term, disposable incomes will rise. This, in turn, will boost a parallel demand for eating out, added value and convenience, and healthy food and drink

Seasonings, Herbs & Spices Market Analysis

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effective planning for the future

requires a total view of the market

and its many developments

I N D O N E S I AIn Indonesia, 10,379 tonnes of industrial seasonings, herbs and spices were used in 2009 in market worth $32m. The largest segments are snacks and juices, soft drinks

and carbonated (both at 2,694 tonnes).

Use of seasonings, herbs and spices in snacks is expected to grow to 2,957 tonnes by 2014, growing at a rate of 1.9% per year compared to juices, soft drinks and carbonated at which is forecast to grow at a rate of 1.8% per to reach 2,946 tonnes.

Total usage of seasonings, herbs and spices in Indonesia

is forecast to grow by 2.2% a year in volume terms to reach 11,600

tonnes by 2014. Value growth is anticipated to be slightly higher at 2.7% per year, with the market forecast to be worth $37m by 2014. For more detailed analysis

please refer to the datapack.

Seasonings, Herbs & Spices Market Analysis

rts © RTS Resource 2009 1 - 39 www.rts-resource.com

USAGE BY SECTORIndonesia : Usage of seasonings, herbs & spices by key sector, 2009tonnes

Source: RTS Resource

Note: See Sources and Definitions for more information

Other1,373

Meat & savoury836

Sauces &dressings

1,119 Cakes & pastries1,663

Soft drinks2,694

Snacks2,694

OPPORTUNITIES BY SECTORIndonesia : Forecast growth in usage of seasonings, herbs & spicesby growth sector, 2009 - 2014tonnes

Source: RTS Resource

Note: See Sources and Definitions for more information

Pasta, rice, noodles

Snacks

Soft drinks

Cakes & pastries

Sauces & dressings +113 tonnes

+149 tonnes

+253 tonnes

+263 tonnes

+288 tonnes

Spicy Fried Cup NoodlesBrand Pop Mie

Manufacturer Indofood

Pop Mie has introduced two new flavours: Fried Special and Spicy Fried

10,379 tonnes

2.8% growth rate

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ISdatapacksee the datapack for more

data and analysis...

Seasonings, Herbs & Spices Country Profiles

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Capital Land Masskm!

Population thousand people

Currencysymbol

GDP $bn

Inflation%

Bulgaria Sofia 108,489 7,497 Bulgarian Lev (BGL) $94 12.3%

Czech Prague 77,247 10,411 Czech Koruna (CZK) $263 6.3%

Hungary Budapest 89,608 9,973 Hungarian Forint (HUF) $197 6.1%

Poland Warsaw 304,255 38,038 Polish Zloty (PLN) $668 4.2%

Romania Bucharest 229,891 21,190 Romanian Lei (ROL) $271 7.8%

Russia Moscow 16,377,742 140,367 Russian Rouble (RUB) $2,266 14.1%

Slovakia Bratislava 48,105 5,412 Euro (EUR) $200 4.6%

Ukraine Kiev 579,330 45,433 Ukraine Hryvnia (UAH) $340 25.2%

E A S TER N E U R O P E

Notes: Forecast population, 2010. Inflation rate at consumer prices.

Source: RTS Resource from CIA World Factbook. Population from Population Division of the Department of Economic and Social A!airs of the United Nations Secretariat,

World Population Prospects: The 2008 Revision, http://esa.un.org/unpp, Monday, September 07, 2009

WESTERN EUROPEWESTERN EUROPEFRANCEFRANCE

Avon & Ragobert (Sovi) ! www.avonetragobert.com

Campofrio Food Group ! www.campofriofoodgroup.com

Charal ! www.charal.fr

Cuisine Solutions ! www.cuisinesolutions.com

Fleury Michon ! www.fleurymichon.fr

Group Aoste ! www.groupeaoste.com

Hereford Meat (Sovi) ! www.hereford-meat.com

Marie ! www.marie.fr

Monique Ranou ! www.ranou.fr

Moy Park ! www.moypark.com

Pierre Schmidt ! www.pierre-schmidt.fr

Spangherro ! www.spanghero.fr

The LDC Group ! www.LDC.fr

GERMANYGERMANYBauerngut Fleisch und Wurstwaren GmbH ! www-bauerngut.fischer-cgd.com

Bernhard Barfuss GmbH & Co. KG Fleischwarenfabrik ! www.barfuss.de

Emil Rolo! KG ! www.rolo!-kg.de

Franz Wiltmann GmbH ! www.wiltmann.de

Herta GmbH ! www.herta.de

Karl Konecke Fleischwarenfabrik GmbH ! www.koenecke.de

Lutz Fleischwaren AG ! www.lutz-fleischwaren.de

Müller Fleisch GmbH Fleischgroßhandel ! www.mueller-fleisch.de

Sauels ! www.sauels.de

Schne Frost ! www.schne-frost.com

Spille ! www.spile.de

Stockmeyer Group (Heristo) ! www.heristo.de

Vion ! www.vion-Frankfurt.de

Vossko ! www.vossko.de

West Fleisch ! www.westfleisch.de

Wiesenhof (PHW Group) ! www.wiesenhof-online.de

Zimmermann ! www.fleischwerke-zimmermann.de

Zur Muhlen Gruppe ! www.zurmuehlengruppe.de

ITALYITALY

AIA Group (Veronesi) ! www.aia-spa.it

Beretta ! www.berettafood.com

Campagnolo ! www.campagnolo.it

Citterio ! www.citterio.com

Fileni ! www.fileni.it

Fileni ! www.fileni.it

Fiorucci ! www.fiorucci.com

Gianni Negrini Salumi ! www.negrinisalumi.com

ICAT Food ! www.icatfood.it

Inalca SpA ! www.inalca.it

Levoni ! www.levoni.it

Negroni ! www.negroni.com

Raspini ! www.raspinisalumi.it

NETHERLANDSNETHERLANDS

Advang Holding (Ad van Geloven) ! www.advangeloven.com

Encko ! www.encko.com

Unilever ! www.unilever.nl

Vion (Incl. Hendrix meat) ! www.vionfreshmeatnl.com

Vleems Food Products ! www.vleemsfood.nl

Zwanenberg Food Group ! www.zwanenberg.nl

SPAINSPAIN

Aragonesa de Piensos ! www.arpisa.com

Argal ! www.argal.com

Carnes Estelles ! www.carnes-estelles.com

Casa Tarradellas ! www.casatarradellas.es

Come a casa (ter beke) ! www.come-a-casa.com

Elpozo ! www.elpozo.es

Esouna ! www.espuna.es

Eurofrits ! www.eurofrits.es

Frimesa ! www.frimesa.net

Incarlopsa ! www.incarlopsa.es

Industrias Frigorificas del Louro ! www.coren.es

Noel ! www.noel.es

UKUK

2 Sisters Food Group ! www.2sfg.com

Anglo Beef processors ! www.anglobeef.com

Bernard Matthews Foods ! www.Bernardmatthewsfarms.com

Calder Foods ! www.calderfoods.co.uk

Grampian Country Foods ! www.vionuk.com

Kerry Group ! www.kerrygroup.com

Moy Park ! www.moypark.com

Vion UK ! www.vionuk.com

EASTERN EUROPEEASTERN EUROPE

POLANDPOLAND

Drobimex ! www.drobimex.com.pl

Felix ! www.felix.ipd.pl

Kieldrob ! www.kieldrob.eu

Mazury ! www.zm-mazury.pl

Seasonings, Herbs & Spices Manufacturers

rts © RTS Resource 2009 F - 2 www.rts-resource.com

Meat & Savoury Products

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Central & South America - Seasonings, Herbs & Spices

tonnes 2004 2009p Growth2004-2009 2014f Growth

2009-2014 $m 2009p 2014f Growth2009-2014

Argentina 4,790 5,831 4.0% 6,788 3.1% Argentina $45.7 $53.0 3.0%

Brazil 36,013 44,765 4.4% 53,216 3.5% Brazil $268.2 $318.7 3.5%

Other CSA 14,898 18,288 4.2% 21,081 2.9% Other CSA $107.1 $125.1 3.2%

TOTAL 55,701 68,884 4.3% 81,085 3.3% TOTAL $421.0 $496.8 3.4%

tonnes 2004 2009p Growth2004-2009 2014f Growth

2009-2014 $m 2009p 2014f CAGR2009–2014

Fruit & vegetables 286 343 3.7% 407 3.5% Fruit & vegetables $2.3 $2.7 3.4%

Carcase meats 263 422 10.0% 631 8.4% Carcase meats $2.8 $4.2 8.2%

Meat & savoury products 26,931 33,004 4.2% 38,528 3.1% Meat & savoury products $225.9 $262.1 3.0%

Ready meals 11,231 15,012 6.0% 18,706 4.5% Ready meals $98.6 $122.1 4.4%

Fish & seafood 7 9 4.7% 10 3.5% Fish & seafood $0.1 $0.1 3.4%

Flour, pasta, rice 332 420 4.8% 516 4.2% Flour, pasta, rice $2.9 $3.5 4.0%

Bread & morning goods 174 202 3.0% 231 2.7% Bread & morning goods $1.4 $1.6 2.6%

Biscuits & cookies 66 77 3.1% 88 2.7% Biscuits & cookies $0.5 $0.6 2.5%

Cakes & pastries ns ns ** ns ** Cakes & pastries ns ns **

Breakfast cereals & bars ns ns ** ns ** Breakfast cereals & bars ns ns **

Milk & milk drinks ns ns ** ns ** Milk & milk drinks ns ns **

Milk powders ns ns ** ns ** Milk powders ns ns **

Butter & yellow fats ns ns ** ns ** Butter & yellow fats ns ns **

Cheese ns ns ** ns ** Cheese ns ns **

Cream & condensed milk ns ns ** ns ** Cream & condensed milk ns ns **

Yogurt & desserts ns ns ** ns ** Yogurt & desserts ns ns **

Ice cream & frozen desserts ns ns ** ns ** Ice cream & frozen desserts ns ns **

Confectionery 5 5 1.9% 6 1.3% Confectionery $0.0 $0.0 1.2%

Snacks 11,753 13,585 2.9% 14,843 1.8% Snacks $48.3 $53.3 2.0%

Soups & bouillon 675 705 0.9% 737 0.9% Soups & bouillon $4.8 $5.0 0.9%

Sauces & dressings 3,601 4,621 5.1% 5,808 4.7% Sauces & dressings $30.2 $37.8 4.6%

Baby foods 71 75 1.2% 79 1.0% Baby foods $0.5 $0.5 1.0%

Pet foods ns ns ** ns ** Pet foods ns ns **

Hot beverages 2 2 2.2% 2 0.4% Hot beverages $0.0 $0.0 0.5%

Soft drinks 305 403 5.8% 493 4.1% Soft drinks $2.7 $3.2 3.7%

Alcoholic drinks ns ns ** ns ** Alcoholic drinks ns ns **

TOTAL 55,701 68,884 4.3% 81,085 3.3% TOTAL $421.0 $496.8 3.4%

Central & South America : Volume usage of seasonings, herbs and spices by sector, 2004 to 2014

C & S America : Forecast market value of seasonings, herbs and spicesby sector, 2009 to 2014

Source: RTS Resource. See report for full list of definitions and sources.

Note: All numbers rounded. Growth = CAGR. ns = not significant.

Note: All numbers rounded. Growth = CAGR. ns = not significant.

Volume usage by sector Market value by sector

Volume usage by country Market value by countryCentral & South America : Volume usage of seasonings, herbs and spices by country, 2004 to 2014

C & S America : Forecast market value of seasonings, herbs and spices by country, 2009 to 2014

Source: RTS Resource. See report for full list of definitions and sources.