India Spices Market

India Spices Market, By Product Type (Pure Spices, Blended Spices), By Application (Veg Curries, Meat, and Poultry Products, Snacks and Convenience Foods, Soups, Sauces and Dressings, Bakery and Confectionery, Frozen Foods, Beverages, Others), By Form (Packets, Sprinkler, Crusher), By Region (North, South, East, West) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: January 2022
  • Report ID: BWC21204
  • Available Format: PDF
  • Page: 119

Report Overview

The growth of the India spices market is attributed to the multidimensional cuisine of India and flourishing local production and availability of spices in domestic markets at competitive prices. Additionally, Indian spices are gaining popularity in the pharmaceutical and cosmetic industry, further boosting the market.

India Spices Market- Industry Trends & Forecast Report 2027

India spices market was worth USD 9.31 billion in 2020 and is further projected to reach USD 19.17 billion by the year 2027, growing at a CAGR of 10.8% during the forecast period. In India, the multidimensional cuisine with its stark regional diversity plays an important role in boosting demand for various spices. Additionally, the flourishing local spice production and the availability of spices in regional markets at competitive prices have contributed to the growth of the Indian spices market.

India Spices Market

 

Source: BlueWeave Consulting

India Spices Market- Overview

A spice is a food additive whose primary function is to add flavor, aroma, color, or preserve food products. Aromatic seeds, roots, and barks are usually processed to manufacture spices. Spices give food a delicious flavor, aroma, and texture to cuisines. India is one of the leading producers of spices globally. There are many spices available in the country, such as chilies, turmeric, coriander, tamarind, cumin, mustard, fenugreek, etc. While some spices are medicinal in nature, others are prominently used in religious ceremonies, or for manufacturing cosmetics, or for perfume production. Moreover, spices are available in the market in several forms, such as fresh, whole dried, or pre-ground dried.

India Spices Market Forecast and Trends

Growth Drivers

Self-Sufficiency in Spices Production

India is among the leading spice producers in the world and contributes to around 75% of the global spice production. There are a variety of spices available, including dried red chilies, cinnamon, cumin, turmeric, coriander, etc. It has a wide range of spices such as dried red chilies, cinnamon, cumin, turmeric, coriander, etc., to offer. India’s self-sufficiency in spices allows it to regulate the price better than other countries. States like Uttar Pradesh, Madhya Pradesh, West Bengal, Tamil Nadu are also investing towards expanding their spice production in the next few years, which is anticipated to boost the growth of the India spices market in the forecast period.

Multidimensional Diversity in Indian Cuisine

Spices are considered one of the main ingredients in Indian cuisines. As a result of the strong influence of all four North and South, East and West regions of India, Indian cuisine is considered multidimensional. Indian cuisine is not just food but also a cultural identity passed down from generation to generation through generations. Indian spices are used to create culinary dishes with a unique taste and subtle flavor. Media influence is increasing, and spices from different regions are more readily available now. Thus, people are trying out new tastes and cuisine, which is expected to drive market growth overseas.

Restraints

High Exports and High Prices

The high consumption and limited production of spices in the country act as a major restraint for the growth of the India spices market. The demand for Indian spices is very prominent in various parts of the world. As a result, spice producers often export their production to increase their revenue. As a result, there are not enough spices to meet the growing market demand. This results in a surge in the prices which hinders the demand for spices in a price-sensitive market like India.

Impact of COVID-19 on India Spices Market

In India, an overwhelming number of patients were infected with COVID-19 during both the first and second waves of the coronavirus pandemic. Several drastic measures, such as the imposition of a complete lockdown, were taken by the government to prevent further casualties. This directly and negatively affected the India spices market. Additionally, the lockdown disrupted the production and supply channels for spices. While consumption of spices surged during the quarantine period due to an increase in home cooking, distribution channels ran short of supplies, resulting in severe losses for the market.

India Spices Market - By Product Type

Based on product types, the India spices market is segmented into pure spices and blended spices. The pure spices segment is further classified into chili, turmeric, coriander, cumin, pepper, tamarind, asafetida, bay leaf, clove, cardamom, cinnamon, tulsi leaf, and others. The demand for turmeric accounts for the largest share in the market as it is used for flavoring as well as coloring food. Furthermore, the medicinal properties of turmeric are also driving the growth of the pure spices market.

India Spices Market - By Application

Based on applications, the India spices market is segmented into veg curries, meat and poultry products, snacks and convenience foods, soups, sauces and dressings, bakery and confectionery, frozen foods, beverages, and others. Vegetable curries account for the largest share of the market since these dishes are staple foods in Indian households. As a result of the regular preparation of vegetarian curries and their consumption with rice or roti (chapati), it is no wonder that this category is growing at an accelerated rate across India. On the other hand, the segment of meat and poultry also represents a substantial share in the Indian market since these products are usually cooked with spices just for flavor.

India Spices Market - Regional Insights

Geographically, the India spices market is segmented into North India, South India, East India and West India. Among these regions, the Southern region of India dominates the India spices market. The state of Andhra Pradesh in South India consumes the spiciest food. The use of dried chili powder and red chilies is very prominent in this region. Similarly, Tamil Nadu and Telangana consume a lot of spices since they have some of the spiciest foods among Indian and south Indian cuisine. Spices are also used in South India to prevent food spoilage from the heat, which boosts their demand in this region.

Competitive Landscape

The leading players in the India spices market are Aachi Spices & Foods Pvt. Ltd, Patanjali Ayurved Limited, Badshah Masala, MTR Foods Pvt Ltd., Eastern Condiments Private Limited, Mahashian Di Hatti Private Limited, Everest Food Products Pvt. Ltd, Catch Foods, Rajesh Masala, Pushp Masale, and other prominent players.

Although the market is highly fragmented with the presence of several industry participants, it is dominated by a handful of players such as MDH, Badshan, Rajesh Masala, etc. The companies launch a wide range of products to cater to the needs of various regions, cuisine, and taste and offer various packaging sizes to boost their sales. They significantly focus on improving their distribution channels, such as making their products available at local retail stores and rely heavily on advertising and marketing for creating brand awareness. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Recent Development

  • In October 2021, Saga Foods, a leading food products supplier, announced the launch of traditional Iyengar South Indian packaged and ready-to-use food products and masalas (spices).

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

India

Product Service/Segmentation

By Product Type, By Application, By Form, By Region

Key Players

Aachi Spices & Foods Pvt Ltd, Patanjali Ayurved Limited, Badshah Masala, MTR Foods Pvt Ltd., Eastern Condiments Private Limited, Mahashian Di Hatti Private Limited, Everest Food Products Pvt Ltd, Catch Foods, Rajesh Masala, Pushp Masale, and other prominent players.

 

By Product Type

  • Pure Spices
  1. Chilli
  2. Turmeric
  3. Coriander
  4. Cumin
  5. Pepper
  6. Tamarind
  7. Asafoetida
  8. Bay Leaf
  9. Clove
  10. Cardamom
  11. Cinnamon
  12. Tulsi Leaf
  13. Others
  • Blended Spices
  1. Garam Masala
  2. Non-Veg Masala
  3. Kitchen King and Sabzi Masala
  4. Chole and Channa Masala
  5. Chat Masala
  6. Sambhar and Rasham Masala
  7. Panner and Curry Masala
  8. Pav Bhaji Masala
  9. Jaljeera Masala
  10. Others

By Application

  • Veg Curries
  • Meat and Poultry Products
  • Snacks and Convenience Foods
  • Soups, Sauces and Dressings
  • Bakery and Confectionery
  • Frozen Foods
  • Beverages
  • Others

By Form

  • Packets
  • Sprinkler
  • Crusher

By Region

  • North
  • South
  • East
  • West
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Key Market Segments
  2. Research Methodology
    1. Qualitative Research
    2. Methodology
    3. Regional Split of Primary & Secondary Research
    4. Secondary Research
    5. Primary Research
      1. Breakdown of Primary Research Respondents, By Region
      2. Breakdown of Primary Research Respondents, By Industry Participants
    6. Market Size Estimation
    7. Assumptions for the Study
    8. Market Breakdown & Data Triangulation
  3. Executive Summary
  4. Industry Insight and Growth Strategy
    1. Value Chain Analysis
    2. DROC Analysis
      1. Market Drivers
        1. Self-Sufficiency in Spices Production
        2. Multidimensional Diversity in Indian Cuisine
      2. Market Restraints
        1. High Exports and High Prices of Spices
      3. Market Challenges
        1. Negative Impact of the COVID-19 Pandemic
      4. Market Opportunity
        1. Medicinal Application of Spices
        2. Expanding Food Processing Industry
    3. Recent Developments
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Buyers
      2. Bargaining Power of Suppliers
      3. Intensity of Rivalry
      4. Threat of New Entrants
      5. Threat of Substitutes
  5. India Spices Market Overview
    1. Market Size & Forecast by Value, 2017-2027
    2. Market Size and Forecast, By Segment
      1. By Product Type
        1. Pure Spices
          1. Chilli
          2. Turmeric
          3. Coriander
          4. Cumin
          5. Pepper
          6. Tamarind
          7. Asafoetida
          8. Bay Leaf
          9. Clove
          10. Cardamom
          11. Cinnamon
          12. Tulsi Leaf
          13. Others
        2. Blended Spices
          1. Garam Masala
          2. Non-Veg Masala
          3. Kitchen King and Sabzi Masala
          4. Chole and Channa Masala
          5. Chat Masala
          6. Sambhar and Rasham Masala
          7. Panner and Curry Masala
          8. Pav Bhaji Masala
          9. Jaljeera Masala
          10. Others
      2. By Application
        1. Veg Curries
        2. Meat and Poultry Products
        3. Snacks and Convenience Foods
        4. Soups, Sauces and Dressings
        5. Bakery and Confectionery
        6. Frozen Foods
        7. Beverages
        8. Others
      3. By Form
        1. Packets
        2. Sprinkler
        3. Crusher
      4. By Region
        1. North
        2. South
        3. East
        4. West
  6. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis (2020)
    3. Competitive Benchmarking by Operating Parameters
  7. Impact of COVID-19 on India Spices Market
  8. Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
    1. Aachi Spices & Foods Pvt Ltd
    2. Patanjali Ayurved Limited
    3. Badshah Masala
    4. MTR Foods Pvt Ltd.
    5. Eastern Condiments Private Limited
    6. Mahashian Di Hatti Private Limited
    7. Everest Food Products Pvt Ltd
    8. Catch Foods
    9. Rajesh Masala
    10. Pushp Masale
    11. Other Prominent Players
  9. Key Strategic Recommendations

 

List of Figures

 

Figure 1: India Spices Market Segmentation

 

Figure 2: India Spices Market Value Chain Analysis,

 

Figure 3: Company Market Share Analysis, 2020

 

Figure 4: India Spices Market Size, By Value (USD Billion), 2017-2027

 

Figure 5: India Spices Market Share (%), By Product Type, By Value, 2017-2027

 

Figure 6: India Spices Market Share (%), By Application, By Value, 2017-2027

 

Figure 7: India Spices Market Share (%), By Form, By Value, 2017-2027

 

Figure 8: India Spices Market Share (%), By Region, By Value, 2017-2027

 

 

List of Tables

 

 

Table 1: India Spices Market Size, By Product Type, By Value, (USD Billion), 2017-2027

 

Table 2: India Spices Market Size, By Application, By Value, (USD Billion), 2017-2027

 

Table 3: India Spices Market Size, By Form, By Value, (USD Billion), 2017-2027

 

Table 4: India Spices Market Size, By Region, By Value (USD Billion), 2017-2027

 

Table 5: Aachi Spices & Foods Pvt Ltd Financial Analysis

Table 6: Aachi Spices & Foods Pvt Ltd Business Overview

Table 7: Patanjali Ayurved Limited Financial Analysis

Table 8: Patanjali Ayurved Limited Business Overview

Table 9: Badshah Masala Financial Analysis

Table 10: Badshah Masala Business Overview

Table 11: MTR Foods Pvt Ltd. Financial Analysis

Table 12: MTR Foods Pvt Ltd. Business Overview

Table 13: Eastern Condiments Private Limited Financial Analysis

Table 14: Eastern Condiments Private Limited Business Overview

Table 15: Mahashian Di Hatti Private Limited Financial Analysis

Table 16: Mahashian Di Hatti Private Limited Business Overview

Table 17: Everest Food Products Pvt Ltd. Financial Analysis

Table 18: Everest Food Products Pvt Ltd. Business Overview

Table 19: Catch Foods Financial Analysis

Table 20: Catch Foods Business Overview

Table 21: Rajesh Masala Financial Analysis

Table 22: Rajesh Masala Business Overview

Table 23: Pushp Masale Financial Analysis

Table 24: Pushp Masale Business Overview

Market Segmentation

By Product Type

  • Pure Spices
  1. Chilli
  2. Turmeric
  3. Coriander
  4. Cumin
  5. Pepper
  6. Tamarind
  7. Asafoetida
  8. Bay Leaf
  9. Clove
  10. Cardamom
  11. Cinnamon
  12. Tulsi Leaf
  13. Others
  • Blended Spices
  1. Garam Masala
  2. Non-Veg Masala
  3. Kitchen King and Sabzi Masala
  4. Chole and Channa Masala
  5. Chat Masala
  6. Sambhar and Rasham Masala
  7. Panner and Curry Masala
  8. Pav Bhaji Masala
  9. Jaljeera Masala
  10. Others

By Application

  • Veg Curries
  • Meat and Poultry Products
  • Snacks and Convenience Foods
  • Soups, Sauces and Dressings
  • Bakery and Confectionery
  • Frozen Foods
  • Beverages
  • Others

By Form

  • Packets
  • Sprinkler
  • Crusher

By Region

  • North
  • South
  • East
  • West
No data available

To request a free sample copy of this report, please complete the form below.

We value your investment and offer free customization with every report to fulfil your exact research needs.

This website is secure and your personal details are safe.

Frequently Asked Questions (FAQs):

Ans: India spices market reached USD 9.31 billion in 2020.
Ans: The Indian spices market is driven by self-sufficiency in spices production and multidimensionality in Indian cuisine.
Ans: The key players in the India spices market are: Aachi Spices & Foods Pvt.Ltd., Patanjali Ayurved Limited, Badshah Masala, MTR Foods Pvt Ltd., Eastern Condiments Private Limited, Mahashian Di Hatti Private Limited, Everest Food Products Pvt. Ltd., Catch Foods, Rajesh Masala, Pushp Masale, and other prominent players.
Ans: The pure spices segment accounted for the largest share in the India spices market.
Ans: South India has the largest share in the India spices market.