India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

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 10.8% during 2023-2028.

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:

IMARC Group provides an analysis of the key trends in each sub-segment of the India spices market report, along with forecasts at the country and regional level from 2023-2028. 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 Confectionery
Frozen Foods
Beverages
Others
 

Breakup by Form:

Packets
Sprinkler
Crusher
 

Breakup by Region:

South India
North India
West and 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.

Key Questions Answered in This Report

1. What was the size of the India spices market in 2022?
2. What is the expected growth rate of the India spices market during 2023-2028?
3. What are the key factors driving the India spices market?
4. What has been the impact of COVID-19 on the India spices market?
5. What is the breakup of the India spices market based on the product type?
6. What is the breakup of the India spices market based on the application?
7. What is the breakup of the India spices market based on the form?
8. What are the key regions in the India spices market?
9. Who are the key players/companies in the India spices market?