Top 10 Pan Masala Companies in India: Leading Brands & Manufacturers

The India pan masala market reached a value of more than INR 46681.97 Crore in 2024. The market is further expected to grow at a CAGR of about 3.80% in the forecast period of 2025-2034 to attain a value of INR 67783.30 Crore by 2034. As per the analysis by Expert Market Research, the market is expected to be driven by the consumer demand for premium pan masala and easy availability of pan masalas.

Pan masala is a traditional mouth freshener that is widely known in India and preferred over Western alternatives. Due to its traditional popularity, there is a vast market and demand for pan masala. With rising health concerns, new pan masala variants are available, including tobacco-free and other types.

Rising disposable income and investments made by the market players in the development of innovative pan masala flavours which include gulkand, silver-coated betel nuts, and chocolate are expected to support the growth of the market. Pan masalas are used largely by both urban and rural sector consumers influenced by pre-existing habits and marketing strategies, positively influencing the overall demand for the India pan masala market.

Advancements in pan masala packaging are contributing to the growth of the market. Resealable pan masala packages available make it convenient for the buyers to consume them while retaining freshness over a longer period of time. Various models of pouch filling and sealing machines are available, making it easy to pack them in a specific formats.

Pan Masala Industry Updates: Manufacturing & Brand News India

In March 2025, MDH, a prominent Indian spice company, came under scrutiny in May 2024 when New Zealand's food safety regulator investigated contamination in its spice products. Regulators in Hong Kong and Singapore also recalled MDH products due to the presence of ethylene oxide, a harmful chemical. These incidents have raised concerns about product safety and quality control within the company.

In December 2024, Arti Kothari, a promoter of Kothari Products Ltd., plans to acquire 20,89,071 equity shares, equivalent to 7% of the company’s share capital, from Dham Securities Pvt. Ltd. The transaction, set to take place on or after December 30, 2024, will be executed at ₹190 per share, reflecting a premium over the 60-day volume-weighted average market price (VWAMP) of ₹160.

In April 2024, manufacturers of pan masala, gutka, and similar tobacco products in India will face penalties of up to ₹1 lakh if they fail to register their packing machinery with GST authorities. This regulation, introduced in the Finance Bill 2024, is designed to curb revenue leakage in an industry known for tax evasion and lack of transparency.

In June 2023, Dharampal Satyapal Group (DS Group), a diversified conglomerate and leading FMCG company, has acquired The Good Stuff Pvt Ltd (formerly Global CP Pvt Ltd), the brand owner of LuvIt Chocolate and confectionery, previously backed by Goldman Sachs and Mitsui Ventures. This strategic acquisition aims to expand DS Group’s confectionery portfolio while enhancing its distribution network across grocery and retail channels.

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Top 10 Pan Masala Manufacturers: India Business & Growth

1. DS Group

The DS Group is a prominent conglomerate with diverse interests in industries ranging from FMCG, hospitality, packaging, and agriculture. It is widely recognised for its flagship brand, Rajnigandha, which is synonymous with quality pan masala. The company’s portfolio includes several other well-known brands, such as Pass Pass, a popular mouth freshener, and the iconic brand of candy, Pulse. The DS Group places a strong emphasis on quality, innovation, and sustainability in its operations, with a commitment to improving the quality of life through its diverse product offerings. It also has a significant presence in the hospitality and real estate sectors, having developed several luxury properties and establishing a reputation for excellence. With a robust distribution network across India and international markets, DS Group has continued to grow and expand, maintaining its position as a market leader in its chosen sectors.

2. Manikchand Group

Manikchand Group, a renowned name in India, is primarily known for its stronghold in the manufacturing of pan masala and related products. The group has a deep-rooted legacy in the Indian market, and its brands have earned considerable trust among consumers. One of the most iconic products of the group is Manikchand Pan Masala, a premium offering that has remained a household name for generations. Apart from its core business in tobacco and pan masala, the Manikchand Group also has interests in other sectors such as real estate, packaging, and hospitality. It has evolved over the years, ensuring high standards of quality control and customer satisfaction. The group places a high priority on innovation, constantly working to improve the taste and quality of its products, while maintaining a commitment to social responsibility. Its extensive marketing reach and solid consumer base contribute to its continued success in the highly competitive FMCG industry.

3. JMJ Group

JMJ Group is a distinguished name in the Indian business landscape, involved in a range of industries including manufacturing, packaging, and distribution. Known for its high-quality products, the group has built a solid reputation across multiple sectors, focusing on delivering excellence in each of its ventures. It offers a diverse product range that caters to both local and international markets, with a particular emphasis on consumer goods. JMJ Group’s commitment to research and development ensures that it is always at the forefront of innovation, continuously improving its product offerings to meet changing consumer preferences. The group is also dedicated to sustainable practices, striving to reduce its environmental footprint through eco-friendly production methods. Over the years, JMJ Group has made significant strides in establishing itself as a trusted name, fostering long-lasting relationships with customers, and ensuring its position as an industry leader in India.

4. Godfrey Phillips India Ltd.

Godfrey Phillips India Ltd. is one of the leading manufacturers and distributors of tobacco and tobacco-related products in India. With a legacy spanning several decades, the company has been integral in shaping the tobacco industry in the country. Apart from its popular tobacco products, Godfrey Phillips also has a significant presence in the FMCG sector, with a strong portfolio of brands across categories like confectionery and pan masala. The company is known for its innovation in product development and its commitment to maintaining high-quality standards across its offerings. Godfrey Phillips operates in a highly regulated industry and takes proactive steps to ensure compliance with all health and safety norms. The company has a vast distribution network, enabling it to reach millions of consumers both in urban and rural areas. Godfrey Phillips is also recognised for its corporate social responsibility initiatives, focusing on education, health, and environmental sustainability.

5. Kothari Product Limited

Kothari Products Limited has a well-established name in the Indian market, particularly known for its presence in the FMCG and tobacco sectors. The company is a prominent manufacturer of pan masala and other mouth-freshening products, gaining trust over the years for its consistent quality. Its product range includes popular brands like Kesar Pan Masala, which has a loyal consumer base. Kothari Products is committed to offering innovative and high-quality products to meet the needs of a dynamic market. The company also has a strong distribution network across India, ensuring that its products are accessible to a wide audience. Aside from its tobacco-related products, Kothari Products has expanded its footprint into other segments, continually growing its business through strategic diversification. The company’s focus on quality and customer satisfaction has made it a respected player in the industry.

6. Dharampal Premchand Limited

Dharampal Premchand Limited, a well-established name in India, is recognised for its range of tobacco products and pan masala. The company has earned a solid reputation due to its unwavering focus on quality and innovation. Known for popular brands such as the iconic Panchmukhi, Dharampal Premchand offers a diverse product range that caters to a broad spectrum of consumers. The company also places a strong emphasis on sustainable business practices, ensuring that its manufacturing processes meet stringent environmental and health regulations. Dharampal Premchand’s long-standing presence in the industry is a result of its dedication to customer satisfaction, continuous product improvement, and maintaining ethical business practices. It has expanded its operations across various Indian states, building a loyal consumer base and becoming one of the most respected brands in its category.

7. Shikhar Group

Shikhar Group is a well-known conglomerate in India with interests spanning multiple sectors, including tobacco, food processing, and real estate. The group has gained recognition for its premium tobacco and pan masala products, particularly Shikhar Pan Masala, which is widely appreciated for its superior quality. Shikhar Group is also involved in the development of residential and commercial properties, having made its mark in the real estate sector. Its business model is centred on providing high-quality products and services, with a focus on customer satisfaction. With a vast distribution network and a strong presence in various industries, Shikhar Group has established itself as a major player in the Indian market. The group’s ability to adapt to changing market demands, along with its commitment to innovation and sustainability, has contributed to its success across various business domains.

8. Pan Bahar Products Private Limited

Pan Bahar Products Private Limited is a prominent manufacturer of pan masala and related products, holding a respected position in the Indian FMCG industry. The company’s flagship product, Pan Bahar, is one of the most recognised brands in the pan masala category, known for its premium quality and rich flavour. The company focuses on blending traditional methods with modern production techniques, ensuring a high standard of quality control. Over the years, Pan Bahar has built a loyal consumer base and expanded its presence across India and abroad. In addition to its core products, Pan Bahar Products Private Limited is committed to social responsibility initiatives, particularly in the areas of education and healthcare, making a positive impact on the communities it serves. The company remains committed to sustainable practices, with an eye on preserving the environment while growing its business.

9. Dinesh Pouches Private Limited

Dinesh Pouches Private Limited is a key player in the packaging and tobacco sectors, primarily known for its high-quality packaging solutions and pouch products. The company manufactures a wide range of packaging products, including pouches for pan masala, spices, and other FMCG goods. Its reputation for delivering durable, aesthetically pleasing, and functional packaging has made it a preferred choice among several major brands in India. Dinesh Pouches focuses on innovation and efficiency in its production processes, aiming to meet the diverse packaging needs of the modern consumer market. The company is committed to sustainable practices, using eco-friendly materials in its manufacturing processes. Dinesh Pouches has a strong customer base and continues to grow by expanding its product range and exploring new markets.

10. Red Rose Group

Red Rose Group is an established business conglomerate, widely recognised for its tobacco-related products, particularly in the pan masala and chewing tobacco segments. The group has earned a reputation for producing high-quality products that cater to a wide consumer demographic. With a commitment to maintaining the highest standards of manufacturing, Red Rose Group has built a strong presence in the Indian market, ensuring that its products meet the evolving preferences of consumers. The group’s emphasis on innovation, quality, and sustainability has enabled it to grow consistently over the years. Apart from tobacco, the Red Rose Group is also involved in several other sectors, contributing to its overall business diversification. It remains a trusted name in the industry, with an eye towards future growth and market expansion.