According to the latest report by IMARC Group, titled "India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India spices market size reached INR 142,569.3 Crores in 2021. Spices refer to the dried parts of seeds, roots, fruits or barks of certain plants that are used to offer aroma, flavor and color to food preparations. They are characterized by exquisite taste, texture and medicinal values that distinguish them from herbs. Widely available in whole, crushed and powdered variants, these food additives enhance the flavor of food preparations without adding additional fats and calories to it. They are known to possess antibacterial and antimicrobial properties which enables them to boost metabolism, reduce inflammation and regulate digestion.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Spices Market Trends:
The India spices market is primarily driven by considerable growth in the food industry across the country. There has been a rising need for authentic flavors and ethnic tastes among the masses, which has contributed to the escalating uptake of high-quality spices across the sector. Additionally, numerous spices are increasingly being utilized as an indispensable ingredient in the food processing sector during the preparation of several processed and ready-to-eat food products. Busy schedules and the hectic lifestyles led by the working professionals have facilitated the uptake of these convenience foods, thereby providing an impetus to the market growth. Moreover, the growing awareness regarding the benefits of packaged spices as compared to their loose counterparts is also providing a thrust to the market growth. These variants retain the aroma of the spices without compromising the quality while offering other advantages, such as extended shelf life and lower chances of contamination. Easy product availability across the online and offline retail channels with attractive discounts and promotions is expected to positively impact the market growth. The market is further driven by the numerous initiatives undertaken by the Government of India to discourage adulteration of spices across the country. This has also impelled the demand for organic spices among consumers on account of the rising concerns regarding the consumption of spices with synthetic additives. Looking forward, the market is expected to grow at a CAGR of 11.15% during 2022-2027.
- On the basis of the product type, the market has been divided into pure spices (chilli, turmeric, coriander, cumin, pepper, tamarind, asafoetida, bay leaf, clove, cardamom, cinnamon, tulsi leaf, and others) and blended spices (garam, non-veg, kitchen king and sabzi, chole and channa, chat, sambhar and rasham, paneer and curry, pav bhaji, jaljeera, and other masalas).
- Based on the application, the market has been classified into veg curries, meat and poultry products, snacks and convenience foods, soups, sauces and dressings, bakery and confectionery, frozen foods, beverages, and others.
- On the basis of the form, the market has been segmented into packets, sprinkler and crusher.
- On the geographical front, the market has been segregated into South, North, West and Central, and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 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.
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