Indian Spices Market to Grow at 4.56% CAGR by 2030

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Indian Spices Market, The Indian Spices Market size is estimated to grow at a CAGR of around 4.56% during the forecast period, i.e., 2024–30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Indian Spices Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2024-2030
CAGR (2024-2030): 4.56%

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Indian Spices Market Segmentation Breakdown:

The Indian Spices Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Product Type

Pure Spices- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Turmeric- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Cumin- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Cardamom- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Coriander- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Ginger- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Garlic- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Pepper- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Red Chilli- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Mustard Seeds- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Fenugreek- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Tamarind- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Others (Fennel, Clove, etc.)- Market Size & Forecast 2019-2030F, (USD Million)
Blended Spices- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Garam Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Non-Veg Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Kitchen King and Sabzi Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Chole and Channa Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Sambhar and Rasham Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Paneer and Curry Masala- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Others (Pav Bhaji Masala, Chat Masala, etc.) - Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

Among them, Pure Spices hold the largest market share due to their versatility and applicability in most food preparations and other uses.

By Form

Whole- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Powder- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Paste- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Others (Crushed, Chopped, etc.)- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

Of them, the powder form of spices holds the largest market share. Higher demand for powdered spices owing to busy lifestyles and a need to attain natural tastes and aromas are fuelling the demand.

By Nature

Organic- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Conventional- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

By Application

Curries- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Snacks and Convenience Food- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Sauces and Dressings- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Frozen Food- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Others (Soups, Beverages, etc.)- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

By End User

Food Service Outlets- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Industrial Applications- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Household- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

By Distribution Channel

Offline- Market Size & Forecast 2019-2030F, (USD Million)
- Direct Sales- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Supermarkets/Hypermarkets- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
- Convenience Stores- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
Online- Market Size & Forecast 2019-2030F, (USD Million)

Geographical Growth Insights:

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific

Asia Pacific dominated the market with the largest market share in the Indian spices market.

MarkNtel Advisors Highlights Key Market Drivers for Indian Spices Market:

Expansion of Indian Hotels & Restaurant Groups Across the Globe Accentuates the Market Growth – In recent years, there has been a rise in the number of Indians residing in other countries, either due to study reasons or business-related purposes. These consumers need restaurants that specialize in making Indian cuisine. As a result, several hotels that primarily provide Indian dishes are being launched in other countries. The expansion of Indian restaurant chains across the region such as the US, London, Dubai, Singapore, etc., has strongly contributed to the growth of the Indian Spices Market since food items prepared by these restaurants follow traditional Indian recipes that use a wide range of spices. Moreover, several international restaurants have started incorporating conventional Indian dishes in their menu to gain the attention of the Indian inhabitants. As a result, the demand for traditional Indian spices to get an accurate taste & flavor is rising, driving market growth. Further, several nations are easing their regulatory policies and providing ease of doing business. Therefore, Indian hotels & restaurant owners would continue to expand into other countries. This, in turn, is further expected to boost the demand for Indian spices worldwide.

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A Comprehensive Analysis of Leading Companies in Indian Spices Market

ITC Limited
Tata Consumer Products Limited
Everest Spices
Orkla ASA (MTR Foods)
House of Spices (India) Inc.
McCormick & Company, Inc.
Mane Kancor Spices Pvt Ltd
Nedspice Group
Olam International Limited
MDH Spices
Catch Foods
Adani Spices
Patanjali Ayurved Limited
Zoff Foods Pvt. Ltd.
Ajy Overseas
Others

India Automotive Paints & Coatings Market Recent Development:

2023: Mane Kancor: Expanded its production capabilities in India with a new, larger plant. The new site will be situated in Byadgi, which is Suitably known for its cultivation of chili varieties and will be established under the Indian Government’s Make-In-India initiative.
2023: McCormick & Company, Inc.:Expanded partnership with Tabitha Brown to add five new salt-free, vegan seasoning products, including spices.

What are the Challenges driving the Indian Spices Market?

Imposition of Ban on Indian Spices by Some of the International Food Regulators– Over the years, the cases of food poisoning due to the presence of harsh chemicals & additives have increased tremendously. As a result, there has been an increased focus of the international regulatory bodies towards food safety. These regulatory bodies are laying stringent product standards. Owing to these new regulatory norms, Indian Spices brands such as MDH and Everest have been recently facing challenges since certain spices of their product portfolio have been banned by international food regulators. For instance, in 2024, Singapore and Hong Kong imposed a ban on a few spices of MDH and Everest as they claimed that their spices contained carcinogenic substances. Moreover, after the imposition of the ban in these countries, various authorities of other nations have also initiated the trial & testing of the Indian spices. In 2024, the US Food and Drug Authority (FDA) announced that it has been collecting information on the products provided by MDH and Everest. Due to these bans, there has been a halt in their sales in some countries. Along with this, these factors are also leading to a reluctance among customers to use or purchase Indian spices, hampering the Indian Spices Market growth.

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