India Spices Market Size Expected to Reach INR 270,928.4 Crores by 2027 | CAGR of 11.15%
According to IMARC Group’s latest report, titled “India Spices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India spices market size reached INR 142,569.3 Crores in 2021. Looking forward, IMARC Group expects the market to reach INR 270,928.4 Crores by 2027, exhibiting a growth rate (CAGR) of 11.15% during 2022-2027.
Spices are aromatic substances made from various parts of plants, including seeds, roots, bark, fruits, and flowers. Indian spices are renowned for their unique flavors, aromas, and health benefits, due to which they are widely used to flavor foods. Some commonly used Indian spices include turmeric, cumin, coriander, cardamom, cinnamon, and clove. They are rich in antioxidants, vitamins, and minerals that reduce inflammation, improve digestion, and boost immunity. They are also used in a variety of dishes, including curries, soups, stews, marinades, and spice blends. Currently, India represents one of the largest producers of spices around the world.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Spices Market Trends:
The rising popularity of ethnic cuisines and increasing consumer awareness regarding the health benefits of spices represent some of the key factors boosting the market growth in India. Additionally, the escalating demand for natural and organic products has compelled key market players to introduce spices made from high-quality, natural ingredients, which is accelerating the market growth.
Moreover, the surging utilization of spices in processed and ready-to-eat (RTE) food products and the rapid penetration of western food trends are positively contributing to the market growth in the country. Other factors, such as increasing consumer concerns regarding the negative health impact of synthetic additives in spices and easy product availability in supermarkets, hypermarkets, and online retail stores, are providing an impetus to the market growth.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined with some of the key players.
- 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.
Key Market Segmentation:
The 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- 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.
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