Indian Spices Market
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Understanding the Indian Spices Market Size, Share, Analysis Forecast 2030

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Indian Spices Market Overview:

According to MarkNtel Advisors study the Indian Spices Market is estimated to grow at a CAGR of around 4.56% during the forecast period, i.e., 2024-30.

The thriving spices industry of India firmly remains one of the key driving forces of the Indian Spices Market as the country accounts for the largest production of spices in the world. Individuals across the globe are developing increased interest in the various Indian spices due to their better taste and health qualities. Owing to this, the demand for Indian spices across the globe is witnessing a surge.

Key Findings of the Study: Indian Spices market

Indian Spices Market Driver:

Expansion of Indian Hotels & Restaurant Groups Across the Globe Accentuates the Market Growth – In recent years, there has been a rise in the number of Indians residing in other countries, either due to study reasons or business-related purposes. These consumers need restaurants that specialize in making Indian cuisine. As a result, several hotels that primarily provide Indian dishes are being launched in other countries. The expansion of Indian restaurant chains across the region such as the US, London, Dubai, Singapore, etc., has strongly contributed to the growth of the Indian Spices Market since food items prepared by these restaurants follow traditional Indian recipes that use a wide range of spices. Moreover, several international restaurants have started incorporating conventional Indian dishes in their menu to gain the attention of the Indian inhabitants. As a result, the demand for traditional Indian spices to get an accurate taste & flavor is rising, driving market growth. Further, several nations are easing their regulatory policies and providing ease of doing business. Therefore, Indian hotels & restaurant owners would continue to expand into other countries. This, in turn, is further expected to boost the demand for Indian spices worldwide.

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Scope of the Indian Spices Market Report Segmentation

-By Product Type

  • Pure Spices- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Blended Spices- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

-By Form

  • Whole- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Powder- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Paste- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Others (Crushed, Chopped, etc.)- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

-By Nature

  • Organic- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Conventional- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

-By Application

  • Curries- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Snacks and Convenience Food- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Sauces and Dressings- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Frozen Food- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Others (Soups, Beverages, etc.)- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

-By End User

  • Food Service Outlets- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Industrial Applications- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)
  • Household- Market Size & Forecast 2019-2030F, (USD Million, Thousand Tons)

-By Distribution Channel

  • Offline- Market Size & Forecast 2019-2030F, (USD Million)
  • Online- Market Size & Forecast 2019-2030F, (USD Million)

For more detailed information about the Indian Spices market report, click here – https://www.marknteladvisors.com/research-library/indian-spice-market.html

Geographical analysis:

-By Region

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Asia Pacific dominated the market with the largest market share in the Indian spices market. This region is one of the leaders in spice production & exportation and has the largest population owing to which the region witnesses a tremendous sales of products like spices. Moreover, consumption in the region has also increased significantly because these spices play an important part in preparing traditional cuisines. Further, the food service outlets within the Asia-Pacific countries are substantially increasing, which is further fueling the market growth. Along with this, domestic brands are expanding their product portfolio and setting up new manufacturing facilities across the region. This is making the spices more accessible to the population residing in the Asian nations, uplifting market growth. Furthermore, the Asia-Pacific countries have a large number of F&B and Pharmaceutical industries. These industries prepare packaged food & therapeutic drugs from the ingredients including Indian spices. Thus, the prevalence of end-user industries within the region is supporting the market growth.

Indian Spice Industry Recent Development:

  • 2023: Mane Kancor: Expanded its production capabilities in India with a new, larger plant. The new site will be situated in Byadgi, which is Suitably known for its cultivation of chili varieties and will be established under the Indian Government’s Make-In-India initiative.
  • 2023: McCormick & Company, Inc.: Expanded partnership with Tabitha Brown to add five new salt-free, vegan seasoning products, including spices.

Current Landscape of Indian Spices Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Indian Spices market. The research report profiles major players, including

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  • ITC Limited
  • Tata Consumer Products Limited
  • Everest Spices
  • Orkla ASA (MTR Foods)
  • House of Spices (India) Inc.
  • McCormick & Company, Inc.
  • Mane Kancor Spices Pvt Ltd
  • Nedspice Group
  • Olam International Limited
  • MDH Spices
  • Catch Foods
  • Adani Spices
  • Patanjali Ayurved Limited
  • Zoff Foods Pvt. Ltd.
  • Ajy Overseas
  • Others

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