India Spices Market to Reach INR 4,70,339 Crores by 2032, Impelled by Deep Cultural Significance in Indian Cuisine

June 23, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled "India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the India spices market size reached INR 1,80,760 Crores in 2023. Spices are natural plant products that are used to enhance the flavor, aroma, and color of food. They are derived from various parts of plants, including seeds, bark, roots, fruits, and flowers. They have been an integral part of human civilization for thousands of years and have played a crucial role in culinary traditions around the world and can be used whole, crushed, ground into powder, or made into pastes. Spices are added at different stages of cooking to extract their flavors and infuse them into the dish and can be used in the preparation of marinades, rubs, spice blends, curries, soups, stews, desserts, and beverages.

India Spices Market Trends:

The market in India is primarily driven by the deep cultural significance of spices in Indian cuisine and culinary heritage. This can be attributed to a strong preference for flavor-rich and aromatic food among the masses leading to a high demand for spices in the domestic market. The growing awareness regarding the health benefits of spices, such as turmeric, ginger, and cinnamon, that are known for their medicinal properties and are believed to have positive effects on digestion, immunity, and overall well-being is favorably influencing the market. Since India is one of the largest exporters of spices due to the presence of a diverse range of spices and herbs, this has made it a preferred source for spices in the international market, which is contributing to the overall market. Moreover, numerous initiatives undertaken by the government to promote the spice industry, including the introduction of subsidies and providing improved infrastructure for storage and processing facilities, are creating positive market outlook. The government has also focused on ensuring quality control and adherence to food safety standards, which is supporting the market favorably. On account of the aforementioned factors, the market is anticipated to reach a value of INR 4,70,339 Crores by 2032, exhibiting a CAGR of 11% during 2024-2032.

Market Summary:

On the basis of the product type, the market has been categorized into pure spices (chilli, turmeric, coriander, cumin, pepper, tamarind, asafoetida, bay leaf, clove, cardamom, cinnamon, tulsi leaf and others) and 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 and others). Among these, pure spices represent the largest market segment.
Based on the application, the market has been segmented into veg curries, meat and poultry products, snacks and convenience foods, soups, sauces and dressings, bakery and confectionery, frozen foods, beverages and others. Currently, veg curries account for the leading market share.
On the basis of form, the market has been segregated into packets, sprinkler and crusher. Presently, packets exhibit a clear dominance in the market.
Region wise, the market has been divided into South India, North India, West and Central India and East India. Among these, South India holds the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	INR Crores
Segment Coverage	Product Type, Application, Form, Region
Region Covered	South India, North India, West and Central India, East India
Companies Covered	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
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

India Spices Market to Reach INR 4,70,339 Crores by 2032, Impelled by Deep Cultural Significance in Indian Cuisine

Purchase options

Single User License $2699
Five User License $3699
Corporate User License $4699

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.