Indian Spice Industry Investment Landscape
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Overview of Indian Spice industry
Export market of spices & spice products
Top 10 importers of Indian spices in 2018-19 were US, China,
Vietnam, Hong Kong, Bangladesh, Thailand, UK, UAE, Malaysia and
Sri Lanka.
Top 10 exported spices and spice products in terms of value were
chilli, mint products, spice oils & oleoresins, cumin, turmeric, pepper,
curry powders/ paste, cardamom seeds, other spices (tamarind,
asafoetida, and cassia) and garlic.
Size of the Indian industry
Export projections
3.01 bn
7% CAGR
4.25 bn
2019-2020
2024-2025 E
US$ bn
Global spice market
$18 bn Global Market
The Indian domestic spices market is worth INR 750 billion annually.
The market is largely unorganized and the branded segment makes up
about 15%.
Increased urbanisation paired with a rise in number of working women
has reduced the time of cooking.
Home-makers have started demanding readymade spice mixes, hence
increasing industry revenues as both spice mixes and branded spices
entail greater profit margins, as compared to unbranded spices.
$5 bn
India's
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