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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
India Spices Market Analysis
Based on product type, the market is divided into pure spices and blended spices. Pure spices are further categorised by type into chilli, garlic, turmeric, ginger, coriander, fennel, pepper, cardamom, clove, and tamarind, among others. Blended spices are sub-divided by type into garam masala, non-veg masala, sabzi masala, chole and channa masala, chat masala, sambhar and rasham masala, paneer and curry masala, pav bhaji masala, and jaljeera masala, among others.
On the basis of form, the India spices market segmentation includes packets, sprinklers, and crushers. Based on sector, the market is divided into organised and unorganised. By application, the market is categorised into veg curries, meat and poultry products, snacks and convenience foods, soups, sauces and dressings, bakery and confectionery, and frozen foods, among others. The end-uses of the product include retail and food service. The regional markets for spices can be divided into North India, South India, East and Central India, and West India.
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.*
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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.
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