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<br>The research paper projected a substantial increase in the presence of branded spices manufacturers in India. Apart from the top brands, there will be more brands offering more flavors and blends. The time of COVID-19 proved to be the best time for Indian spices as the demand for these products increased. Brands provided a better and healthier alternative to loose spices. Indian consumers relied on packaged spices to cook food during the lockdown. To know more, visit the website of IBEF India. https://www.ibef.org/exports/spice-industry-indias
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About Spice Industry India The spices market in India is set to double to ₹50,000 crores by 2025 according to a research paper produced by an investment bank Avendus Capital. The research paper further said that brands will capture a large of the market. It shows a shift from loose products to packed branded products.
What Will Be The Market Size Of The Spices Brands? The research paper anticipated a substantial increase in presence of branded spices manufacturers in India. In addition to the top brands, there will be more brands offering more flavors and blends. Branded spices constitute 35% of the market By FY2030, 15 brands could become ₹1,000 crore company 5 brands could even exceed ₹5,000 crores annual turnover
How Are Brands Capturing The Spices Market? Regional spices exporters in India are getting funds from foreign investors. Bigger firms are showing interest in buying small stakes in regional players to increase their footprints. Hindustan Unilever Ltd. is in talks with MDH to buy a stake in it Orkla packaged goods company of Norway is investing in a Kerala-based spice company A91 Partners investment firm is investing ₹125 crores in an Indore-based spice company
Why Are Regional Spice Companies In Demand? Regional spices export companies are controlling the market because they prepare spices and mixes according to the taste and flavor of regional consumers. They produce spices keeping local cuisines in their minds. Regional markets create more demand for spices and blends Indian cuisines are region specific and need specific spices Cuisine-specific spices and blends are also in demand in the international markets
How Did COVID-19 Spur The Indian Spices Demand? COVID-19 time proved to be the best time for Indian spicesbecause the demand for these products spurred. Brands provided a better and healthier alternative to loose spices. Indian consumers relied on packaged spices to cook food during the lockdown They needed a better and healthier option to maintain hygiene Spices brand launched newer flavors to capture markets during the lockdown
What Is The Growth Forecast Of Spices Brand In India? Spices manufacturers in India are expected to take their products to the world market in the coming time. Also, regional brands could emerge stronger than national brands. Brands are increasing their footprints by collaborating with smaller regional brands More flavors are launched to provide more options to consumers
Which Are The Top Spices Brands In India? There are many spices brands in India that capture a large share of the market but some companies are on the top because of their offerings. Badshah Masala has six decades of experience Everest Spices is one of the oldest brands MDH Spices is a household name Catch Spices offer a unique blend of sprinkler seasoning Rajesh Masala has a strong market presence
For more information Website : https://www.ibef.org/ E-Mail ID : info.brandindia@ibef.org For any query call us @ +91 11 43845501
