According to IMARC Group’s latest report, titled “India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the India market reached a value of INR 142,569.3 Crores in 2021. Spices are food additives obtained by processing a number of dried vegetables, fruits, barks, aromatic seeds, and roots.
They offer an exquisite texture, aroma, and taste and are primarily used for coloring, flavoring, or preserving food items. Spices provide a unique flavor to the food, making it more appetizing. Currently, India represents one of the largest producers of spices across the globe. Some commonly available spices across the country include turmeric, chili, coriander, cumin, tamarind, mustard, and fenugreek.
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One of the key factors driving the market growth in India is the rising use of spices in the manufacturing of ready-to-cook (RTC) and ready-to-eat (RTE) food products. This is further supported by the surging demand for authentic cuisines,
Innovative flavors, and ethnic tastes in foods. Moreover, the increasing awareness about the medicinal, antibacterial, and antimicrobial properties of spices and the health benefits associated with their consumption, such as reducing inflammation, boosting immunity, and regulating digestion, are propelling the market growth.
Other factors, such as the rapid expansion of the food and beverage (F&B) industry and the changing consumer consumption patterns, are creating a positive outlook for the market. Looking forward, IMARC Group expects the India spices market to reach INR 270,928.4 Crores by 2027, exhibiting a CAGR of 11.15% during 2022-2027.
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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:
- 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.
Market Segmentation:
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
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
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.
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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