According to IMARC Group’s latest report, titled “India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the spices market in India grew at a CAGR of 15% during 2015-2020. Spices are various seeds, barks, roots, twigs, and dried plant parts that are utilized for seasoning and flavoring food recipes. They are further deployed for preserving pickles and other food products for later consumption. Some of the commonly used spices include nutmeg, cloves, chili powder, ginger, garlic, tamarind, black pepper, and turmeric. These spices are accessible in different forms, such as whole, ground, and crushed.
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The expanding hotel, restaurant, and catering (HORECA) sector and the increasing demand for authentic, ethnic, and innovative flavors in the food and beverages (F&B) are primarily fueling the spices market growth in India. Furthermore, the widespread utilization of dried ginger, oregano, chili flakes and parsley by fast-food chains, including Starbucks, Domino’s, and McDonald’s, is propelling the market growth. Additionally, the Government of India (GOI) has been undertaking initiatives to curb the adulteration of spices and the increasing consciousness amongst consumers toward the negative health impacts of synthetic spices are catalyzing the market growth in the country. Looking forward, IMARC Group expects the India spices market to continue its strong growth during the next five years.
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.
Breakup by Product Type:
- Pure Spices
- Bay Leaf
- Tulsi Leaf
- 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
Breakup by Application:
- Veg Curries
- Meat and Poultry Products
- Snacks and Convenience Foods
- Soups, Sauces and Dressings
- Bakery and Confectionary
- Frozen Foods
Breakup by Form:
Breakup by Region:
- South India
- North India
- West & Central India
- East India
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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