Global Asafoetida Market 2024-2028

Global Asafoetida Market 2024-2028

The asafoetida market is forecasted to grow by USD 47.06 mn during 2023-2028, accelerating at a CAGR of 5.45% during the forecast period. The report on the asafoetida market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing consumer awareness of exotic spices and culinary diversity, growing demand for natural and traditional ingredients in food preparation, and rising popularity of ethnic cuisines, particularly indian and middle Eastern.

Technavio's asafoetida market is segmented as below:

By Distribution Channel

• Offline
• Online

By Product

• Milky white asafoetida
• Red asafoetida

By Geographical Landscape

• APAC
• Europe
• North America
• Middle East and Africa
• South America

This study identifies the increasing demand for organic and sustainably sourced asafoetida products as one of the prime reasons driving the asafoetida market growth during the next few years. Also, rising popularity of fusion cuisines with asafoetida in new dishes and adoption of convenience formats such as powdered or granulated asafoetida will lead to sizable demand in the market.

The report on the asafoetida market covers the following areas:

• Asafoetida market sizing
• Asafoetida market forecast
• Asafoetida market industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading asafoetida market vendors that include Aachi Masala, Anu Foods, Dabur India Ltd., Dhanhar Exim Pvt. Ltd., DS Group, EVEREST Food Products Pvt. Ltd., G P And Co., HingWala, Laljee Godhoo, Mahashian Di Hatti Pvt. Ltd., Medikonda Nutrients, MTR Foods Pvt. Ltd., MVM Asafoetida, Patanjali Ayurved Ltd., Qualfis Foodz Pvt. Ltd., S S Pandian and Sons, Simhas Spices and Herbals, SRK Traders and Manufacturers, Tata Sons Pvt. Ltd., and VKA Food Products. Also, the asafoetida market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.