IMARC Group, a leading market research company, has recently released a report titled “India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India spices market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the India Spices Market?
The India spices market size reached INR 160,676 Crores in 2022. Looking forward, IMARC Group expects the market to reach INR 298,909 Crores by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028.
What are Spices?
Spices are plant-derived substances primarily used to enhance the flavor, aroma, and color of food. They can be derived from various parts of a plant, including seeds, bark, roots, and fruits. They are available in whole, crushed, or ground forms, spices are an integral part of culinary practices. They not only elevate taste but also have preservative and medicinal properties. Many spices are rich in antioxidants, anti-inflammatory agents, and micronutrients. Some spices even have antimicrobial qualities, making them effective in food preservation. They are versatile and can be used in a range of dishes, from main courses to desserts and beverages.
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What are the Growth Prospects and Trends in the India Spices Industry?
The growing demand for ethnic flavors is one of the significant factors driving the market growth of India spices. Moreover, the rising awareness about the medicinal properties associated with spices, such as anti-inflammatory and antioxidant properties, is a major growth inducing factor. In addition to this, technological advancements in farming, processing, and packaging have also enabled better quality control and extended shelf-life, thus contributing to the market growth. Besides this, efficiency improvements in the supply chain, bolstered by digital platforms, is propelling the market growth. Along with this, the implementation of stringent quality regulations and certifications are elevating the standard of spices in India which is enhancing trust and market growth. Apart from this, e-commerce websites dedicated to gourmet foods and spices have simplified the procurement process, making a wide variety of spices easily accessible to the consumers, thus fueling the market growth. Furthermore, the growing focus on sustainable farming practices and organic spice production, is creating a positive outlook for the market across the country.
Who are the Key Players Operating in the India Spices Market?
The competitive landscape of the India spices market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Aachi Spices & Foods Pvt Ltd
- Badshah Masala
- Eastern Condiments Private Limited
- Everest Food Products Pvt Ltd
- Mahashian Di Hatti Private Limited
- MTR Foods Pvt Ltd.
- Patanjali Ayurved Limited.
What is Included in Market Segmentation?
The report has categorized the market based on product type, application, and form.
Breakup by Product Type:
- Pure SpicesChilli
Turmeric
Coriander
Cumin
Pepper
Tamarind
Asafoetida
Bay Leaf
Clove
Cardamom
Cinnamon
Tulsi Leaf
Others
- Blended SpicesGaram Masala
Non-Veg Masala
Kitchen King and Sabzi Masala
Chole and Channa Masala
Chat Masala
Sambhar and Rasham Masala
Paneer and Curry Masala
Pav Bhaji Masala
Jaljeera Masala
Others
Breakup by Application:
- Veg Curries
- Meat and Poultry Products
- Snacks and Convenience Foods
- Soups, Sauces and Dressings
- Bakery and Confectionary
- Frozen Foods
- Beverages
- Others
Breakup by Form:
- Packets
- Sprinkler
- Crusher
Regional Insights:
- South India
- North India
- West & Central India
- East India
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Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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