India Spices Market Analysis and Long-Term Predictions 2024 - 2031 | Everest Food Products Pvt Ltd., Aachi Spices & Foods Pvt Ltd.

Market Overview:

The India Spice market Anal was valued at US$ 6.05 Bn in 2022, exhibiting a CAGR of 5.9% in terms of revenue over the forecast period (2023 to 2030) to reach US$ 9.6 Bn by 2030.

Market Dynamics:

Growing demand for organic spice products: There is an increasing preference for organic spices among health-conscious consumers in India due to perceived health benefits. Various health issues associated with synthetic pesticides and fertilizers have boosted the demand for organic spices. According to estimates, the Indian organic spice market is growing at over 20% annually.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/5374?utm_source=openpr.com&utm_medium=referral

Rising import export of Indian spices: India enjoys a dominant global position with a strong foothold in spice exports. The spices export from India rose significantly during the last five years due to growing international demand and strategic initiatives by the Indian government to promote agricultural exports. India fulfills over 65% of the global demand for many spices and is the world's largest producer, consumer, and exporter of turmeric, chili, and coriander.

India Spices Market: Two Major Drivers

Increasing Demand for Medicinal Properties of Spices

India has a long tradition of using spices not only for flavoring and seasoning foods but also for their alleged medicinal properties. The increasing awareness among Indian consumers about health benefits of spices is driving significant demand. Many spices like turmeric, ginger, garlic, pepper etc. are considered to have antiviral, anti-inflammatory and immunity-boosting properties. This is encouraging more people to include spices in their daily diet and cooking. Various studies have validated several health-promoting effects of spices which is further fueling consumer demand.



India Spices Market: A Lucrative Opportunity

Growing Export Potential

India is one of the largest exporters of spices to countries like USA, UK, Germany, Sri Lanka, Nepal, Malaysia, UAE etc. However, its share in the global spice trade is around 10-12% while countries like Indonesia and China dominate the exports. There is significant scope for India to boost its overseas shipments of spices considering the strong demand as well as its legacy of cultivating a wide variety of high-quality spices. Focus on value addition, meeting international standards and certifications, better packaging and positioning of Indian spices as premium will open immense opportunities to increase exports substantially. This can significantly contribute to India's GDP and farmers' incomes. The untapped export markets present a lucrative opportunity for long term growth of the Indian spices industry.

India Spices Market: An Emerging Trend

Rise of Minimal Processed Spice Products

Due to changing lifestyles, there is growing popularity of minimally processed, ready-to-cook spice mixes and pastes. Consumers are seeking convenience without compromising on the freshness and authentic flavors of whole spices. Many new companies are innovating with easy-to-use formulations specific to regional cuisines that save time and effort. Products like paneer tikka masala paste, pepper chicken dry rub, dal makhani mix etc are fast gaining traction. Even large FMCG players have entered this segment. This emerging trend towards convenient yet less processed spice offerings is expected to gain stronger momentum in future and drive the growth of value-added spices market.

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/5374

Top Companies Included in This Report:

• Everest Food Products Pvt Ltd.
• Aachi Spices & Foods Pvt Ltd.
• Dabur India
• DS Group
• Eastern Condiments Private Limited
• Mahashian Di Hatti Private Limited
• MTR Foods Pvt Ltd.
• Patanjali Ayurved Limited
• Pushp Brand (India) Pvt. Ltd.
• Ushodaya Enterprises Private Limited

Market Segmentation:

Based on Product Type:

• By Product Type: Chilies, Ginger, Cumin, Turmeric, Pepper, Coriander, Others (Cardamom, and others )
• By Form: Wraps, Whole, Powder, Chopped/Crushed



Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Reasons to Purchase This Report:
📈 Regional Insights: Understand regional consumption patterns and factors influencing the market in different areas.

📈 Global Opportunities & Threats: Discover opportunities and challenges faced by global suppliers in the IELTS Training Platform sector.

📈 Growth Potential: Identify the fastest-growing regions and sectors.

📈 Competitive Landscape: Review market rankings, recent product launches, partnerships, expansions, and acquisitions of leading companies.

📈 Company Profiles: Access comprehensive corporate profiles, including company overviews, insights, product benchmarks, and SWOT analyses of key market players.

📈 Market Outlook: Get current and future market outlooks, including recent developments, growth opportunities, drivers, challenges, and regional constraints

FAQ:
What is the scope of this report?

Does this report estimate the current market size?

Does the report provide market size in terms of Value (US$ Mn) and Volume (thousand ton/metric ton/cubic meter)?

Which segments are covered in this report?

What are the key factors covered in this report?

Does this report offer customization options?

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/5374

Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

☎ Contact Us:

Mr. Shah
Senior Client Partner - Business Development
Coherent Market Insights

Phone:

US: +1-206-701-6702
UK: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.