India Spices Market to Grow at a CAGR of 9.20% During 2024-2032, Driven by the Rapid Expansion of the Food Processing Sector

The increasing concerns regarding nutrition and health in India are catering to a surge in the demand for organic spices. Spices that are completely grown organically contain nutrients that can provide various health benefits, while also being free from pesticides that are harmful to health. Moreover, the increasing knowledge about the intrinsic quality of spices and the chemistry and pharmacology of their active principles are contributing to their greater use in sectors such as health and wellness.

Various initiatives launched by the Indian government for the improvement and expansion of the spices sector are supporting market growth. The expansion of spice parks located across the country that are established to ensure the quality standards and facilities are further contributing to the market development.

Furthermore, the growth of the e-commerce channels is supporting the easy availability of spices. Online channels such as Amazon.com, Inc (NASDAQ: AMZN)  enhance the accessibility of a wide variety of spices from different brands, supporting the market growth.

The increasing launch of innovative spices by key players is also supporting the market demand. For instance, in January 2023, Tata Sampann a brand of Tata Consumer Products Ltd, launched a range of blended spices, including Puliyogare, Malabar chicken, Sambar masala and Masala rice mix across Karnataka. The blended spices are specifically made for consumers in South India and offer an authentic taste with the nutrition of natural oils.

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Market Analysis by Product Type, Form, Sector, Application, End-Use and Region:

• The market on the basis of product type, can be divided into pure spices and blended spices.

• Based on form, the market can be divided into packets, sprinkler, and crusher.

• On the basis of sector, the market can be bifurcated into organised and unorganised.

• The major applications for spices include veg curries, meat and poultry products, snacks and convenience foods, soups, sauces and dressings, bakery and confectionery, and frozen foods, among others.

• The market, on the basis of end-use, can be divided into retail and food service.

• The major regional markets for spices in India include North India, East and Central India, West India, and South India.

Key Findings of the Report:

• The India market for spices is being driven by the growing demand for spices that are organically produced and processed.

• Favourable government initiatives and the expansions of spice parks are further contributing to the market expansion.

• The growing use of spices in various end-use sectors such as health and wellness and nutraceuticals, among others, are aiding the market growth.

• The rising population and changing lifestyles of the urban popular are contributing to an increasing need for convenient food options such as processed and ready-to-eat food products, further surging the demand for spices.

Key Offerings of the Report:

• The EMR report gives an overview of the India spices market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, forms, sectors, applications, end-uses, and major regions of spices.

• The market report also analyses the trade data by covering the major importing and exporting countries.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the India spices market are Everest Food Products Pvt Ltd, Mahashian Di Hatti Private Limited, Badshah Masala Private Limited, DS Group (Catch), Eastern Condiments Pvt. Ltd., Aachi Spices & Foods Pvt Ltd, MTR Foods Pvt. Ltd., Patanjali Ayurved Limited, Sakthi Masala Private Limited, ITC Limited (Sunrise Pure), Ushodaya Enterprises Pvt. Ltd. (Priya), Tata Consumer Products Limited, Zoff Foods Private Limited, Goldiee Group, Ashok Masale, and LIFESTYLE FOODS PVT LTD., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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