Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
The India spices market reached a value of INR 86,930 crore in 2023. During the forecast period between 2024 and 2032, the market is expected to grow at a CAGR of 9.20% to reach a value of around INR 1,91,945 crore by 203
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Competitive Landscape
Everest Food Products Pvt. Ltd. is the largest spice-selling brand in India, which was established in 1965, and currently offers more than 45 masala varieties in both pure and blended forms. The company sells its products not only in Indian market but many nations around the world, including the United States, the United Kingdom, Africa, the United Arab Emirates, Singapore, and Australia.
Badshah Masala Private Limited, a leading producer of spices, was founded in 1958. Its collection includes a wide range of spices and products including asafoetida, kesari milk masala, premix tea, seasoning spices, whole spices, blended spices, and papad. The brand has a significant presence in both domestic and international markets. Its products are available across various retail channels, including supermarkets, hypermarkets, speciality stores, and online platforms, catering to a diverse consumer base.
MTR Foods Pvt Ltd, with its headquarters in Karnataka, stands out as an Indian heritage brand that has been providing ethnic and high-quality Indian food for more than 90 years. A well-known household name, the brand is associated with culinary expertise that has been presented in contemporary, user-friendly ways. MTR unifies India's palate by preserving and reproducing recipes that have been passed down through generations from their region of origin while also keeping up with the country's changing palate. Their extensive portfolio of masalas, spices, ready-to-cook, and ready-to-eat products covers all meal occasions.
Other spice manufacturers in India are Mahashian Di Hatti Pvt. Ltd., DS Group (Catch), Eastern Condiments Pvt. Ltd., Aachi Masala Foods (P) Ltd, Patanjali Ayurved Limited, Sakthi Masala Private Limited, ITC Limited, Ushodaya Enterprises Pvt. Ltd. (Priya), Tata Consumer Products Limited, Zoff Foods Private Limited, Goldiee Group, Ashok Masale, and LIFESTYLE FOODS PVT LTD., among others.
India Spices Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2023, the market reached an approximate value of INR 86,930 crore.
The market is projected to grow at a CAGR of 9.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of INR 1,91,945 crore by 2032.
The major drivers of the market include the expanding HoReCa sector, growing fondness towards traditional dishes and Indian cuisines around the globe, innovations with food products and flavours, and expansion of domestic brands and increase in the number of players operating in the spices category. Further, the rising consumer awareness of the negative health impact of synthetic additives found in spices is driving the demand for organic and pure spices/natural spices in India.
The growing utilisation of spices in processed and ready-to-eat food products and the increasing demand for authentic cuisines are the key trends propelling the growth of the market.
India is the largest producer of spices in the world. India is also the world's largest exporter and consumer of spices.
The use of cinnamon in cooking goes back much further in history than any other spice. As a result, it has earned the title ‘world's oldest spice’.
Kozhikode was known as the ‘City of Spices’ during classical antiquity and the Middle Ages due to its significance as the main commercial hub for trading Eastern spices.
The major players in the Indian market for spices are Everest Food Products Pvt. Ltd., Mahashian Di Hatti Pvt. Ltd., Badshah Masala Private Limited, DS Group (Catch), Eastern Condiments Pvt. Ltd., Aachi Masala Foods (P) Ltd, MTR Foods Pvt Ltd, Patanjali Ayurved Limited, Sakthi Masala Private Limited, ITC Limited, Ushodaya Enterprises Pvt. Ltd. (Priya), Tata Consumer Products Limited, Zoff Foods Private Limited, Goldiee Group, Ashok Masale, and LIFESTYLE FOODS PVT LTD., among others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124