The spices market in India is projected to see a progressive increase in volume per capita, starting at 3.48 kilograms in 2024 and reaching 3.61 kilograms by 2028. This forecasted growth indicates a compounded annual growth rate (CAGR) over five years. Notably, the volume level in 2023 was slightly below 3.48 kilograms. The forecasted year-on-year increase from 2024 to 2028 ranges from 0.86% to 1.01%, showing a stable upward trend in consumer demand for spices.
Future trends to watch include the impact of health benefits associated with spices on consumption rates, possible diversification of spice varieties, and how economic factors might influence spending and consumption habits in India.
