India Spices and Seasoning Market Analysis and Forecast 2019-2028
$2,380.00 – $4,800.00
The overall spice and seasoning market is growing at an annual rate of 8% and branded products at 13%. Owing to their reputed immunity-boosting properties, demand for spices has risen even more since the outbreak of COVID-19.
India’s spices and seasoning market is estimated to witness a strong growth rate of more than 13% during the forecast period 2022-2028. India is known as the home of spices, as per the Ministry of Commerce; India is one of the largest producers of spices in the world with about 75 varieties out of the 109 listed by the International Organization for Standardization.
The increasing demand for Indian flavors, authentic cuisines, and ethnic tastes in foods and snacks coupled with significant growth in the food processing industry is anticipated to fuel the demand for spices and seasoning in India. The Spices Board of India further plays an essential role in the development and global promotion of Indian spices. It provides efficient management support through quality control and certifications, registration of exporters, documentation of trade information, and inputs to the central government on policy matters.
According to data published by the India Brand Equity Foundation (IBEF), the production of spices stood at 10.88 million tons in 2021-2022, and the export of spices reached an all-time high both in terms of value and volume by registering a growth of 17% in US$ value terms and 30% in volume terms.
India’s Spices and Seasoning Market is leading by Blended Segment Owing to the Increasing Adoption of Packaged Food and Region-Specific Blends
The Blended spices segment is likely to dominate the Indian spices and seasoning market. The segment is primarily driven by the increased need for convenience, region-specific blends, and various options available across cuisines. Moreover, with investments in innovation and R&D in the sector, new blends, as well as creative packaging alternatives, are also expected to further propel the demand for Spices and seasoning in the country.
The Government of India has been launching various initiatives towards improvements in the sector and launching national policies to help enhance quality. Spices Parks – industrial processing units which help ensure quality standards and facilities are at par with international standards.
According to the Spices Board of India, Chilli is one of the most exported spices in India. India supplies around 180 spices to more than 150 nations in the world, apart from catering to its domestic needs. The US, China, and Vietnam among other countries are some of the prominent importers of Spices and Seasoning from India.
The largest spices-producing states in India are Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, Karnataka, Maharashtra, Assam, Orissa, Uttar Pradesh, West Bengal, Tamil Nadu and Kerala.
Market Structure and Competition Landscape
RationalStat expects the overall Indian spice industry to observe significant consolidation over the coming 6-8 years. The fragmented Indian spice and seasoning market is valued at nearly US$ 10 billion and branded segment accounts for nearly 38% of the market share.
India spices and seasoning market is fragmented in nature with the presence of various players operating in the country. Some of the prominent players operating in the market are Everest Food Products Pvt. Ltd, MDH, Badshah Masala, Eastern Condiments Private Limited, Catch Spices, Pushp Masale, MTR, Rajesh Spice, Ashok Masala, Goldiee Group, Sakthi Masala, Kitchen Treasures, Suruchi Masala, JK spices, and Bharat Masala among others.
The market is dominated by regional and local players, and the top 6 companies such as MDH and Everest among others together hold more than 40% of the total share. Players are focusing on increasing the share of blended spices to build brand stickiness and command higher margins.
Furthermore, domestic players are also focusing to modify their blended spices recipes to suit the tastes of different regions. These players adopt various strategies such as mergers & acquisitions, partnerships & collaborations, and product launches in order to reinforce their market share.
- In November 2022, Spice Story, India’s first and largest D2C brand offering the widest range of ethnic chutneys from various regions of the country, announced a partnership with Jayanti Herbs and Spice for its offline expansion.
- Through this partnership, Spice Story will leverage JayantiHerbs and Spice’s 23,000-strong distribution channel of multi-brand modern format retail stores.
- In March 2021, Orkla completed the purchase of 67.82 percent of the shares in Eastern Condiments Private Limited (“Eastern”). The acquisition has been carried out through MTR Foods Private Limited (“MTR Foods”).
Key Market Segmentation
RationalStat has segmented the India Spices and Seasoning market on the basis of type, form, taste, branding type, packaging type, distribution channel, application, and region.
- By Type
- Chilli
- Cumin
- Turmeric
- Cardamom
- Curry Powder/Paste
- Ginger
- Pepper
- Coriander
- Fennel
- Fenugreek
- Garlic
- Ajwain Seed
- Black Salt
- Others (Caraway Seeds, etc.)
- By Form
- Raw Form
- Blended
- Garam Masala
- Non-Veg Masala
- Chole Chana Masala
- Chat Masala
- Others (Pav Bhaji Masala, etc.)
- By Taste
- Hot Spices
- Mild Spices
- Aromatic Spices
- Others (Herbs, etc.)
- By Branding
- Branded
- Unbranded
- By Packaging Type
- Loose
- Packed
- Composite Containers
- Plastic Pouches
- Cartons
- Others (Unbranded, etc.)
- By Distribution Channel
- Online/E-commerce
- Offline
- Retail Outlets
- Hypermarkets and Supermarkets
- By Application
- Meat & Poultry Products
- Snacks & Convenience Food
- Soups, Sauces, and Dressings
- Bakery & Confectionery
- Others (Beverages, etc.)
- By Region
- North India
- West and Central India
- East India
- South India
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
Secondary Sources
- Annual reports, company filings, investor presentations, product catalogs, and company documents
- Industry and market-related documents available in the public domain
- Paid databases including Bloomberg, Factiva, S&P Capital IQ, FactSet, Refinitiv Eikon, ICIS, EUWID, and Thomson Reuters, among others
- Whitepapers, research papers, and industry blogs.
Why Buy this Report?
The report is intended for Spices and Seasoning providers, food and beverage players, government organizations, regulatory agencies, and market research firms among others. The report provides an in-depth analysis of market size, consumption patterns, ongoing market trends and challenges, and future market opportunities. The report will serve as a source for a 360-degree analysis of the market thoroughly delivering insights to clients to find the right answers to their business questions.
Frequently Asked Questions (FAQs)
The India Spices and Seasoning market is expected to grow at a CAGR of over 13% during the forecast period 2022-2028.
India Spice and Seasoning Market is estimated at around US$ 10 Bn in 2021.
Some of the pivotal growth drivers of the Indian spice and seasoning market are the increasing demand for Indian flavors, authentic cuisines, and ethnic tastes in foods and snacks.
Major companies operating in the India Spices and Seasoning market include Everest Masala, MDH, Badshah Masala, Eastern, Catch, Priya, Pushp, MTR, Rajesh Spice, Ashok Masala, Goldiee Group.
| User License | Single User/Team License, Corporate License |
|---|---|
| REGION | India |
| RELEASE YEAR | 2022 |
| RESEARCH CODE | RST-SAR-083 |
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. India Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, industry players’ expenditures, and economic conditions, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter’s Five Forces Analysis
7. Government Laws and Industry Regulations
8. India and Regional Market Dynamics
8.1. Drivers
8.2. Restraints
8.3. Trends
8.4. Opportunities
9. India Spices and Seasoning Market: Major Development
Robust assessment of key developments, strategic transactions in the marketplace
10. EXIM Analysis: Trade Analysis
10.1. Export Data in Value (US$) and Volume (Tons)
10.2. Import Data in Value (US$) and Volume (Tons)
11. Pricing Analysis
11.1. By Type
11.1.1. Chilli
11.1.2. Cumin
11.1.3. Turmeric
11.1.4. Cardamom
11.1.5. Curry Powder/Paste
11.1.6. Ginger
11.1.7. Pepper
11.1.8. Coriander
11.1.9. Fennel
11.1.10. Fenugreek
11.1.11. Garlic
11.1.12. Ajwain Seed
11.1.13. Black Salt
11.1.14. Others (Caraway Seeds, etc.)
12. Parent Market Overview: India Food and Beverage Market Overview
13. Segmental Analysis
13.1. India Spices and Seasoning Market by Type
13.1.1. Chilli
13.1.2. Cumin
13.1.3. Turmeric
13.1.4. Cardamom
13.1.5. Curry Powder/Paste
13.1.6. Ginger
13.1.7. Pepper
13.1.8. Coriander
13.1.9. Fennel
13.1.10. Fenugreek
13.1.11. Garlic
13.1.12. Ajwain Seed
13.1.13. Black Salt
13.1.14. Others (Caraway Seeds, etc.)
13.2. India Spices and Seasoning Market by Form
13.2.1. Straight
13.2.2. Blended
13.2.2.1. Garam Masala
13.2.2.2. Non-Veg Masala
13.2.2.3. Chole Chana Masala
13.2.2.4. Chat Masala
13.2.2.5. Others (Pav Bhaji Masala, etc.)
13.3. India Spices and Seasoning Market by Taste
13.3.1. Hot Spices
13.3.2. Mild Spices
13.3.3. Aromatic Spices
13.3.4. Others (Herbs, etc.)
13.4. India Spices and Seasoning Market by Packaging Type
13.4.1. Loose
13.4.2. Packed
13.4.3. Composite Containers
13.4.4. Plastic Pouches
13.4.5. Cartons
13.4.6. Others (Unbranded, etc.)
13.5. India Spices and Seasoning Market by Branding Type
13.5.1. Branded
13.5.2. Unbranded
13.6. India Spices and Seasoning Market by Distribution Channel
13.6.1. Online/E-commerce
13.6.2. Offline
13.6.2.1. Retail Outlets
13.6.2.2. Hypermarkets and Supermarkets
13.7. India Spices and Seasoning Market by Application
13.7.1. Meat & Poultry Products
13.7.2. Snacks & Convenience Food
13.7.3. Soups, Sauces, and Dressings
13.7.4. Bakery & Confectionery
13.7.5. Others (Beverages, etc.)
13.8. India Spices and Seasoning Market by Region
13.8.1. North India
13.8.2. West and Central India
13.8.3. East India
13.8.4. South India
14. Regional Analysis
14.1. North India Spices and Seasoning Market Analysis and Forecast 2019-2028
14.1.1. Regional Market Overview and Key Takeaways
14.1.2. North India Spices and Seasoning Market by Type
14.1.3. North India Spices and Seasoning Market by Form
14.1.4. North India Spices and Seasoning Market by Taste
14.1.5. North India Spices and Seasoning Market by Packaging Type
14.1.6. North India Spices and Seasoning Market by Distribution Channel
14.1.7. North India Spices and Seasoning Market by Application
14.2. West and Central India Spices and Seasoning Market Analysis and Forecast 2019-2028
14.2.1. Regional Market Overview and Key Takeaways
14.2.2. West and Central India Spices and Seasoning Market by Type
14.2.3. West and Central India Spices and Seasoning Market by Form
14.2.4. West and Central India Spices and Seasoning Market by Taste
14.2.5. West and Central India Spices and Seasoning Market by Packaging Type
14.2.6. West and Central India Spices and Seasoning Market by Distribution Channel
14.2.7. West and Central India Spices and Seasoning Market by Application
14.3. East India Spices and Seasoning Market Analysis and Forecast 2019-2028
14.3.1. Regional Market Overview and Key Takeaways
14.3.2. East India Spices and Seasoning Market by Type
14.3.3. East India Spices and Seasoning Market by Form
14.3.4. East India Spices and Seasoning Market by Taste
14.3.5. East India Spices and Seasoning Market by Packaging Type
14.3.6. East India Spices and Seasoning Market by Distribution Channel
14.3.7. East India Spices and Seasoning Market by Application
14.4. South India Spices and Seasoning Market Analysis and Forecast 2019-2028
14.4.1. Regional Market Overview and Key Takeaways
14.4.2. South India Spices and Seasoning Market by Type
14.4.3. South India Spices and Seasoning Market by Form
14.4.4. South India Spices and Seasoning Market by Taste
14.4.5. South India Spices and Seasoning Market by Packaging Type
14.4.6. South India Spices and Seasoning Market by Distribution Channel
14.4.7. South India Spices and Seasoning Market by Application
15. Competitive Landscape
15.1. Competition Dashboard
15.1.1. Competition Overview
15.1.2. Market Share Analysis
15.1.2.1. India
15.1.2.2. North India
15.1.2.3. Europe
15.1.2.4. India
15.1.3. Market Structure
15.2. Competitive Benchmarking
15.3. Key Strategy Analysis
15.4. Company Profiles
15.4.1. Everest Food Products Pvt. Ltd
15.4.1.1. Company Overview
15.4.1.2. Product/Service Offerings
15.4.1.3. Financials
15.4.1.4. Recent Developments
15.4.2. MDH
15.4.2.1. Company Overview
15.4.2.2. Product/Service Offerings
15.4.2.3. Key Financials
15.4.2.4. Recent Developments
15.4.3. Badshah Masala
15.4.3.1. Company Overview
15.4.3.2. Product/Service Offerings
15.4.3.3. Key Financials
15.4.3.4. Recent Developments
15.4.4. Eastern Condiments Private Limited
15.4.4.1. Company Overview
15.4.4.2. Product/Service Offerings
15.4.4.3. Financials
15.4.4.4. Recent Developments
15.4.5. Catch Spices
15.4.5.1. Company Overview
15.4.5.2. Product/Service Offerings
15.4.5.3. Financials
15.4.5.4. Recent Developments
15.4.6. Pushp Masale
15.4.6.1. Company Overview
15.4.6.2. Product/Service Offerings
15.4.6.3. Financials
15.4.6.4. Recent Developments
15.4.7. MTR
15.4.7.1. Company Overview
15.4.7.2. Product/Service Offerings
15.4.7.3. Financials
15.4.7.4. Recent Developments
15.4.8. Rajesh Spice
15.4.8.1. Company Overview
15.4.8.2. Product/Service Offerings
15.4.8.3. Financials
15.4.8.4. Recent Developments
15.4.9. Ashok Masala
15.4.9.1. Company Overview
15.4.9.2. Product/Service Offerings
15.4.9.3. Financials
15.4.9.4. Recent Developments
15.4.10. Goldiee Group
15.4.10.1. Company Overview
15.4.10.2. Product/Service Offerings
15.4.10.3. Financials
15.4.10.4. Recent Developments
15.4.11. Reliance Communications
15.4.11.1. Company Overview
15.4.11.2. Product/Service Offerings
15.4.11.3. Financials
15.4.11.4. Recent Developments
15.4.12. Sakthi Masala
15.4.12.1. Company Overview
15.4.12.2. Product/Service Offerings
15.4.12.3. Financials
15.4.12.4. Recent Developments
15.4.13. Suruchi Masala
15.4.13.1. Company Overview
15.4.13.2. Product/Service Offerings
15.4.13.3. Financials
15.4.13.4. Recent Developments
15.4.14. JK spices
15.4.14.1. Company Overview
15.4.14.2. Product/Service Offerings
15.4.14.3. Financials
15.4.14.4. Recent Developments
15.4.15. Bharat Masala
15.4.15.1. Company Overview
15.4.15.2. Product/Service Offerings
15.4.15.3. Financials
15.4.15.4. Recent Developments
Top 6 players account for more than 40% of the India market in 2021 and rest of the market share is contributed by the other players. RationalStat will provide a comprehensive list of over 100 Indian spices and seasoning players in the final report.
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