Top 10 Pan Masala Companies in India 2026: Leading Brands & Manufacturers

The India pan masala market was valued at INR 48455.88 Crore in 2025. The rise of modern retail chains, such as V-Mart and Reliance Smart Bazaar, is expanding shelf space for branded pan masala, increasing visibility in semi-urban and Tier II markets beyond traditional paan shops. The market is projected to grow at a CAGR of 3.80% during the forecast period of 2026 to 2035, reaching a value of INR 70359.06 Crore by 2035. The market is expected to be driven by consumer demand for premium pan masala and the wider availability of pan masalas across distribution channels.

Pan masala is a traditional mouth freshener that is widely known in India and preferred over Western alternatives. Due to its traditional popularity, there is a vast market and demand for pan masala. With rising health concerns, new pan masala variants are available, including tobacco-free and other types.

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Rising disposable income and investments made by market players in the development of innovative pan masala flavours which include gulkand, silver-coated betel nuts, and chocolate are expected to support the growth of the market. Pan masalas are used largely by both urban and rural sector consumers influenced by pre-existing habits and marketing strategies, positively influencing the overall demand for the India pan masala market.

Advancements in pan masala packaging are contributing to the growth of the market. Resealable pan masala packages available make it convenient for buyers to consume them while retaining freshness over a longer period of time. Various models of pouch filling and sealing machines are available, making it easy to pack them in specific formats.

Pan Masala Industry Updates 2026

In April 2026, the DS Group’s Catch Spices brand announced a strategic expansion into the retail and HoReCa (Hotels, Restaurants, and Catering) segment in Nepal. The announcement was made at the 11th edition of the GAI Food and Beverage and Hospitality 2026 event held at Bhrikutimandap, Kathmandu, where Catch Spices participated as the Diamond Sponsor from 22 to 25 April 2026. The expansion is targeting significant retail penetration by the end of FY 2026-27, with Sandeep Ghosh, Business Head at Catch Spices, leading the initiative as the group strengthens its international FMCG footprint.

In February 2026, India’s GST Council implemented a major restructuring of the taxation regime for pan masala and tobacco products. Effective 1 February 2026, pan masala now attracts a flat 40% GST rate, replacing the earlier 28% GST plus compensation cess structure. Tax is calculated on the Retail Sale Price (RSP) under the newly inserted Rule 31D of the CGST Rules. A new Health and National Security (HSNS) Cess has also been introduced, levied on the rated machine capacity of pan masala packing units, with proceeds earmarked for healthcare infrastructure and national security purposes. The compensation cess has been abolished and the changes have been notified under Central Tax (Rate) Notification No. 19/2025.

In February 2026, shares of Godfrey Phillips India Limited surged nearly 12% intraday after the company announced product price hikes to offset the impact of the increased excise duty introduced under the new tobacco taxation regime. The company also reported strong Q3 FY 2025-26 results, with consolidated net profit growing 8.7% Y-o-Y to INR 343.29 Crore and revenue from operations rising 15.68% Y-o-Y to INR 2,189.93 Crore, reflecting resilience in its cigarette and pan masala portfolio amid the tax restructuring.

In January 2026, Rajnigandha, the flagship pan masala brand of the Dharampal Satyapal Group (DS Group), launched a new ingredient-focused television commercial titled ‘Yun Hi Nahin Main Rajnigandha Ban Jaata Hun’. Directed by acclaimed French filmmaker Bruno Aveillan and conceptualised by McCann Advertising, the campaign highlights the meticulous selection, evaluation, and blending processes behind the brand’s signature flavour, reinforcing its premium positioning. The campaign is being aired across television, digital platforms including YouTube, Instagram, and Facebook, as well as OTT services.

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Top 10 Pan Masala Manufacturers in India

1. DS Group

The DS Group is a prominent conglomerate with diverse interests in industries ranging from FMCG, hospitality, packaging, and agriculture. It is widely recognised for its flagship brand, Rajnigandha, which is synonymous with quality pan masala. The company’s portfolio includes several other well-known brands, such as Pass Pass, a popular mouth freshener, and the iconic brand of candy, Pulse. The DS Group places a strong emphasis on quality, innovation, and sustainability in its operations, with a commitment to improving the quality of life through its diverse product offerings. It also has a significant presence in the hospitality and real estate sectors, having developed several luxury properties and establishing a reputation for excellence. With a robust distribution network across India and international markets, DS Group has continued to grow and expand, maintaining its position as a market leader in its chosen sectors.

2. Manikchand Group

Manikchand Group, a renowned name in India, is primarily known for its stronghold in the manufacturing of pan masala and related products. The group has a deep-rooted legacy in the Indian market, and its brands have earned considerable trust among consumers. One of the most iconic products of the group is Manikchand Pan Masala, a premium offering that has remained a household name for generations. Apart from its core business in tobacco and pan masala, the Manikchand Group also has interests in other sectors such as real estate, packaging, and hospitality. It has evolved over the years, ensuring high standards of quality control and customer satisfaction. The group places a high priority on innovation, constantly working to improve the taste and quality of its products, while maintaining a commitment to social responsibility. Its extensive marketing reach and solid consumer base contribute to its continued success in the highly competitive FMCG industry.

3. JMJ Group

JMJ Group is a distinguished name in the Indian business landscape, involved in a range of industries including manufacturing, packaging, and distribution. Known for its high-quality products, the group has built a solid reputation across multiple sectors, focusing on delivering excellence in each of its ventures. It offers a diverse product range that caters to both local and international markets, with a particular emphasis on consumer goods. JMJ Group’s commitment to research and development ensures that it is always at the forefront of innovation, continuously improving its product offerings to meet changing consumer preferences. The group is also dedicated to sustainable practices, striving to reduce its environmental footprint through eco-friendly production methods. Over the years, JMJ Group has made significant strides in establishing itself as a trusted name, fostering long-lasting relationships with customers, and ensuring its position as an industry leader in India.

4. Godfrey Phillips India Ltd.

Godfrey Phillips India Ltd. is one of the leading manufacturers and distributors of tobacco and tobacco-related products in India. With a legacy spanning several decades, the company has been integral in shaping the tobacco industry in the country. Apart from its popular tobacco products, Godfrey Phillips also has a significant presence in the FMCG sector, with a strong portfolio of brands across categories like confectionery and pan masala. The company is known for its innovation in product development and its commitment to maintaining high-quality standards across its offerings. Godfrey Phillips operates in a highly regulated industry and takes proactive steps to ensure compliance with all health and safety norms. The company has a vast distribution network, enabling it to reach millions of consumers both in urban and rural areas. Godfrey Phillips is also recognised for its corporate social responsibility initiatives, focusing on education, health, and environmental sustainability.

5. Kothari Product Limited

Kothari Products Limited has a well-established name in the Indian market, particularly known for its presence in the FMCG and tobacco sectors. The company is a prominent manufacturer of pan masala and other mouth-freshening products, gaining trust over the years for its consistent quality. Its product range includes popular brands like Kesar Pan Masala, which has a loyal consumer base. Kothari Products is committed to offering innovative and high-quality products to meet the needs of a dynamic market. The company also has a strong distribution network across India, ensuring that its products are accessible to a wide audience. Aside from its tobacco-related products, Kothari Products has expanded its footprint into other segments, continually growing its business through strategic diversification. The company’s focus on quality and customer satisfaction has made it a respected player in the industry.

6. Dharampal Premchand Limited

Dharampal Premchand Limited, a well-established name in India, is recognised for its range of tobacco products and pan masala. The company has earned a solid reputation due to its unwavering focus on quality and innovation. Known for popular brands such as the iconic Panchmukhi, Dharampal Premchand offers a diverse product range that caters to a broad spectrum of consumers. The company also places a strong emphasis on sustainable business practices, ensuring that its manufacturing processes meet stringent environmental and health regulations. Dharampal Premchand’s long-standing presence in the industry is a result of its dedication to customer satisfaction, continuous product improvement, and maintaining ethical business practices. It has expanded its operations across various Indian states, building a loyal consumer base and becoming one of the most respected brands in its category.

7. Shikhar Group

Shikhar Group is a well-known conglomerate in India with interests spanning multiple sectors, including tobacco, food processing, and real estate. The group has gained recognition for its premium tobacco and pan masala products, particularly Shikhar Pan Masala, which is widely appreciated for its superior quality. Shikhar Group is also involved in the development of residential and commercial properties, having made its mark in the real estate sector. Its business model is centred on providing high-quality products and services, with a focus on customer satisfaction. With a vast distribution network and a strong presence in various industries, Shikhar Group has established itself as a major player in the Indian market. The group’s ability to adapt to changing market demands, along with its commitment to innovation and sustainability, has contributed to its success across various business domains.

8. Pan Bahar Products Private Limited

Pan Bahar Products Private Limited is a prominent manufacturer of pan masala and related products, holding a respected position in the Indian FMCG industry. The company’s flagship product, Pan Bahar, is one of the most recognised brands in the pan masala category, known for its premium quality and rich flavour. The company focuses on blending traditional methods with modern production techniques, ensuring a high standard of quality control. Over the years, Pan Bahar has built a loyal consumer base and expanded its presence across India and abroad. In addition to its core products, Pan Bahar Products Private Limited is committed to social responsibility initiatives, particularly in the areas of education and healthcare, making a positive impact on the communities it serves. The company remains committed to sustainable practices, with an eye on preserving the environment while growing its business.

9. Dinesh Pouches Private Limited

Dinesh Pouches Private Limited is a key player in the packaging and tobacco sectors, primarily known for its high-quality packaging solutions and pouch products. The company manufactures a wide range of packaging products, including pouches for pan masala, spices, and other FMCG goods. Its reputation for delivering durable, aesthetically pleasing, and functional packaging has made it a preferred choice among several major brands in India. Dinesh Pouches focuses on innovation and efficiency in its production processes, aiming to meet the diverse packaging needs of the modern consumer market. The company is committed to sustainable practices, using eco-friendly materials in its manufacturing processes. Dinesh Pouches has a strong customer base and continues to grow by expanding its product range and exploring new markets.

10. Red Rose Group

Red Rose Group is an established business conglomerate, widely recognised for its tobacco-related products, particularly in the pan masala and chewing tobacco segments. The group has earned a reputation for producing high-quality products that cater to a wide consumer demographic. With a commitment to maintaining the highest standards of manufacturing, Red Rose Group has built a strong presence in the Indian market, ensuring that its products meet the evolving preferences of consumers. The group’s emphasis on innovation, quality, and sustainability has enabled it to grow consistently over the years. Apart from tobacco, the Red Rose Group is also involved in several other sectors, contributing to its overall business diversification. It remains a trusted name in the industry, with an eye towards future growth and market expansion.