INDIA SPICES MARKET OUTLOOK TO FY’2018 – SPICE MIXES AND BRANDED SPICES TO AUGMENT INDUSTRY REVENUE

According to the report titled “India Spices Market Outlook to FY’2018 – Spice Mixes and Branded Spices to Augment Industry Revenues,” a comprehensive analysis of the market size of the overall spices market, the market for chilly spices, the market for garlic, the market for turmeric, the market for ginger, the market for coriander, the market for other spices, the market for spice oils and oleoresins, and the market for spice extracts in India is provided. The research also discusses the market shares held by producers of spices in India respectively. During the period of fiscal year 2007 to fiscal year 2013, the spice market in India saw a revenue increase of 10.0 percent, which is considered to be a double-digit growth. The leading factors that have been propelling the market over the course of the past six fiscal years include the growing demand for packaged spices, the emergence of the market for organic spices, the increasing demand for spice mixes, and the influx of regional as well as global players in the market. The unorganized section of the spice market in India has a dominant position, accounting for a significant portion of the revenues earned from the sales of spice items in the fiscal year 2013 (fy for 2013). The unorganized market include all of the spices that are sold in India without a brand name. In terms of revenue, the organized component of the India spices industry accounted for a market share of ~ percent in the fiscal year 2013 (fy’2013). The bulk of the branded spices that are marketed in India are included in the organized category. There are a number of big firms functioning in the unorganized sector, including mdh, everest, mtr, and others. An increase in the proportion of organized sector has been seen over the course of the previous few years. This may be attributed to the growing demand for packaged spices. At the end of the fiscal year 2013, Andhra Pradesh emerged as the most prominent state in terms of the production of spices, with a share of percent. Following closely after were Gujarat, Rajasthan, Orissa, and Madhya Pradesh. From the fiscal year 2013 to the current year, these five major states accounted for a share of ~ percent of the overall output of spices in India. Considering the growing awareness of the need of maintaining a healthy lifestyle among the urban population, there is a growing demand for organic spices. Among the three major clients of spice manufacturers, which include the retail sector, the industrial sector, and the catering sector, the retail sector dominated the total consumption of spices. On the other hand, the industrial sector accounted for a small percentage of the total consumption, and the catering sector, which includes hotels and restaurants, accounted for the smallest share of the total consumption of spices in the fiscal year 2013. When it comes to the most important spices, the market for chilli was the most successful sector in terms of output volume in the fiscal year 2013; this was followed by the markets for garlic, turmeric, ginger, and coriander. The proportion of the overall output of spices in India that was accounted for by these top five spices was a percentage of one percent. In terms of competitiveness, the market for spices in India is a highly fragmented industry, with the existence of a large number of regional companies in the market area. mdh, eastern condiments, catch, and mtr were the next four players in the market after everest, which was the most dominant player. With a compound annual growth rate of 15.5 percent from fiscal year 2013 to fiscal year 2018, it is anticipated that the sales for the India spices industry would increase to more than 16,600 million US dollars in fiscal year 2018. The most significant contribution to this expansion is anticipated to come from spice mixes and branded spices, as well as from the expanding area under cultivation of spices, the expanding expenditures of the Spices Board of India, the growing population of India, the rising consumer spending on food in India, the expanding size of the Indian restaurant market, the growing number of registered hotels and restaurants in India, the increasing fdi in the food processing industry in India, and the flourishing catering market in India. Our most recent publication can be found at the following link: http://www.kenresearch.com/agriculture-food-beverages/food-industry-research-reports/india-spice-market-research-report/415-104.html. If you would like further information on the market, please refer to this study. the person to contact is Ankur Gupta, who is the head of marketing and communication. His email address is ankur@kenresearch.com, and his phone number is +91 9015378249xxx.