According to the latest report by IMARC Group, titled “India Spices Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” theIndia spices market size grew at a CAGR of 15% during 2015-2020. Spices refer to the dried parts of seeds, roots, fruits or barks of certain plants that are used to offer aroma, flavor and color to food preparations. They are characterized by exquisite taste, texture and medicinal values that distinguish them from herbs. Widely available in whole, crushed and powdered variants, these food additives enhance the flavor of food preparations without adding additional fats and calories to it. They are known to possess antibacterial and antimicrobial properties which enables them to boost metabolism, reduce inflammation and regulate digestion.
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India Spices Market Trends:
The India spices market is primarily driven by considerable growth in the food industry across the country. There has been a rising need for authentic flavors and ethnic tastes among the masses, which has contributed to the escalating uptake of high-quality spices across the sector. Additionally, numerous spices are increasingly being utilized as an indispensable ingredient in the food processing sector during the preparation of several processed and ready-to-eat food products. Busy schedules and the hectic lifestyles led by the working professionals have facilitated the uptake of these convenience foods, thereby providing an impetus to the market growth. Moreover, the growing awareness regarding the benefits of packaged spices as compared to their loose counterparts is also providing a thrust to the market growth. These variants retain the aroma of the spices without compromising the quality while offering other advantages, such as extended shelf life and lower chances of contamination. Easy product availability across the online and offline retail channels with attractive discounts and promotions is expected to positively impact the market growth. The market is further driven by the numerous initiatives undertaken by the Government of India to discourage adulteration of spices across the country. This has also impelled the demand for organic spices among consumers on account of the rising concerns regarding the consumption of spices with synthetic additives. Looking forward, the market is anticipated to witness strong growth during 2021-2026.
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