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India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • November 2021
  • 172 pages
  • ID: 6185543
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The India spices market grew at a CAGR of 15% during 2015-2020.

Looking forward, the analyst expects the market to continue its strong growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Spices refer to the food additives that are primarily used for flavoring, coloring, or preserving food items. They are usually manufactured by processing a wide range of aromatic seeds, dried fruits or vegetables, roots, barks, etc. Spices offer exquisite aroma, texture, and taste to food without adding any extra fat or calories. India currently represents one of the largest producers of spices in the world. Some of the common spices that are widely available in the country, include chili, turmeric, coriander, tamarind, cumin, mustard, fenugreek, etc.

The increasing demand for innovative flavors, authentic cuisines, and ethnic tastes in foods and snacks is augmenting the market for spices in India. Additionally, a significant growth in the food processing industry along with hectic work schedules and sedentary lifestyles of the consumers are also propelling the demand for convenient food options. As a result, the growing utilization of spices in processed and ready-to-eat food products is further driving the market growth in the country. Apart from this, the expanding HoReCa sector in India is also bolstering the market growth. Moreover, the increasing penetration of western food trends is further catalyzing the demand for a variety of newer spices. Additionally, the Indian government has introduced stringent regulations to curb the adulteration of spices, thereby inducing the production of safer product variants. Furthermore, the rising consumer concerns towards the negative health impact of synthetic additives in spices are augmenting the demand for natural and organic spices in the country.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the India spices market, along with forecasts at the country and regional level from 2021-2026. Our report has categorized the market based on product type, application and form.

Breakup by Product Type:
Pure Spices
Chilli
Turmeric
Coriander
Cumin
Pepper
Tamarind
Asafoetida
Bay Leaf
Clove
Cardamom
Cinnamon
Tulsi Leaf
Others
Blended Spices
Garam 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

Breakup by Region:
South India
North India
West & Central India
East India

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being 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. and Patanjali Ayurved Limited.

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