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| India Spices Market |
The global India Spices Market is estimated to be valued at US$ 3424.8 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The India spices market consists of various spices that are widely used for
flavoring, seasoning and coloring food. Some of the major spices in the market
include turmeric, pepper, coriander, cumin, cinnamon and nutmeg. These spices
help enhance the overall taste and aroma of food. With rising health awareness,
demand for spices with medicinal properties is increasing in the country.
Market key trends:
One of the key trend in the India spices market is the growing demand for
turmeric. Turmeric has witnessed significant growth owing to its various health
benefits such as anti-inflammatory, antioxidant and antiseptic properties. It
helps in treating wounds, rashes and other skin problems. Turmeric is increasingly
being used in ayurvedic formulations and natural healthcare products in the
country. The growing health conscious population and promotion of turmeric's
medicinal properties by ayurvedic practitioners are fueling the demand of
turmeric in the India spices market.
Segment Analysis
The India spices market is segmented by type into turmeric, chilli, coriander,
cumin, garlic, ginger, fenugreek, mustard, others. Among these, the turmeric
segment dominates the market with a share of over 30%. Turmeric is one of the
primary ingredients used in India which gives a yellow color and curry flavor
to dishes. It is widely used for both culinary and medicinal purposes.
Key Takeaways
The global India
Spices Market Growth is expected
to witness high growth, exhibiting a CAGR
of 5.9% over the forecast period, due to increasing demand for exotic
spices flavors and health benefits.
Regional analysis
South India dominates the India spices market with around 35% share owing to
major production of spices like chilies, turmeric, ginger, and others in states
like Andhra Pradesh, Tamil Nadu, and Kerala. The climatic conditions of these
regions favor high yield of spices.
Key players
Key players operating in the India spices market are Everest Food Products Pvt
Ltd., Aachi Spices & Foods Pvt Ltd., Dabur India, DS Group, Eastern
Condiments Private Limited, Mahashian Di Hatti Private Limited, MTR Foods Pvt
Ltd., Patanjali Ayurved Limited, Pushp Brand (India) Pvt. Ltd., and Ushodaya
Enterprises Private Limited.
The global India spices market size was valued at US$ 3424.8 Bn in 2023 and is
expected to reach ~US$ 5136 Bn by 2030, expanding at a CAGR of 5.9% during the
forecast period.
For more insights, read- https://www.ukwebwire.com/india-spices-market-trends-size-and-share-analysis/
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