The market for Indian spices is expanding primarily due to the emergence of new flavours, authentic cuisines, and ethnic tastes. Spices are widely used in households to improve the flavour and taste of food products. Also, people favour spices that are good for them, like turmeric, which increases immunity. Thus, it is anticipated that increasing household demand for spices will fuel market expansion for spices throughout the anticipated period. During the course of the forecast period, rising consumer goods e-commerce sales are anticipated to fuel market expansion. Customers prefer to buy groceries and other things online because it offers them a lot of flexibility, discounts, a wide selection of products, and other benefits.
India Spices Market was valued at US$ 5.74 Billion in 2021 in terms of revenue, exhibiting a CAGR of 5.3% during the forecast period (2022 to 2030).
Key Competitors in the India spices Industry:
1. Everest Food Products Pvt Ltd.
The Brand Everest was founded by Vadilal Bhai in 1967, sourcing the best spices and never compromised on the quality of his products. It has headquarters situated in Mumbai, India.
2. Aachi Spices & Foods Pvt Ltd.
Founded in 1995, Aachi is India’s No.1 masala brand is a testimony of our ability to deliver ‘authentic taste of tradition’ to Indian homes. Today, the popularity and reach of Aachi extends beyond cities, towns and remote villages in India and extends to over 65+ countries worldwide. It has headquarters situated in Chennai India.
3. Dabur India
Started operations in 1884 as an Ayurvedic medicines company. From its humble beginnings in the bylanes of Calcutta, Dabur India Ltd has come a long way today to become a transnational consumer goods company with the largest herbal and natural product portfolio in the world. It has headquarters situated in Uttar Pradesh, India and is operational in more than 120 countries worldwide. In December, 2022 Dabur India today announced the expansion of its Odonil portfolio with the launch of ‘Odonil Gel Pocket’, a unique Gel-based air freshener which gives superior and long-lasting fragrance.
4. DS Group
Founded in the year 1929, group continues to build successful brands across diverse business categories to delight the consumers, while the undeterred pursuit for ‘Quality & Innovation’ ensures consumer loyalty and satisfaction. The company has headquarters situated in Noida, India. In June, 2022 DS (Dharampal Satyapal) Group announced the launch of the second ‘Water Economic Zone,’ an integrated watershed development project at Khandwa and Betul districts in Madhya Pradesh.
5. Eastern Condiments Private Limited
Established in 1983, Eastern today has the finest grip on India’s spice market. It has headquarters situated Kochi, India. In January, 2023 Eastern has launched a new product Eastern Kayam.
6. Mahashian Di Hatti Private Limited
Mahashian Di Hatti Private Limited is a Private incorporated in1965. It has headquarters situated in New Delhi, India.
7. MTR Foods Pvt Ltd.
Since 1924, a business that brings quality and authenticity in cuisine. An enterprise that blends entrepreneurship with originality. This is the rich legacy of MTR. It has headquarters situated in Bangalore, India.
8. Patanjali Ayurved Limited
Patanjali Ayurved Limited is a Non-govt company, incorporated on 13 Jan, 2006. It's a public unlisted company and is classified as'company limited by shares'. It has headquarters situated in Delhi, India.
9. Pushp Brand (India) Pvt. Ltd.
Pushp Brand Spices was founded by Late Shri Kishanlalaji Surana in 1974 as a small-scale industry in Indore, the heart of central India. It has headquarters situated in Indore, India.
10. Ushodaya Enterprises Private Limited.
Founded in 1973, Ushodaya Enterprises Private Limited is a food production company. It has headquarters situated in Hyderabad, India.
*Definition- Due to their genuine flavour and texture, Indian spices have been a favourite throughout history. They are well known for their flavour and scent, which improve the quality of cuisine.
