Nov.17

Indian Spice Industry: An overview of packaged spice and Investment Landscape

Indian Spice Industry

Packaged Spice Industry comprises the branded spices that come with recognized trademark and labelling. The Indian spice market is made up of two types of industries: branded and open selling. Open selling is actually the wholesale spice sale where products are sold in bulk at cheaper rates. Here, we shall talk about the packaged spice industry in detail. 

The packaged and branded market of the Indian spice industry contributes 15% of the total share, taking the industry’s net worth to INR 400 crores or 5.3 US dollars annually. The annual growth of the packaged spice industry is 5%, and the progression of the blended spice industry is 8% annually with a turnover of INR 6,6 bn (US$ 880 mn). Major brands have developed during the past 3-4 years. 

The landscape of the packaged spice industry

The packaged spice industry is dominated by regional players who have been involved in the market share for the past few decades. The movement in demand from loose packing to packaged spice is to avoid adulteration of spices. At the same time, the packaged market is scattered all over, having a leader of its own. Overall, the market is a bit unorganized with the dominance of significant market share. 

The spice market in India is highly paved by the brands that account for one-half of the total share, blooming room for outstanding growth and synergies. In recent times, the market has been highly diverted towards branded spices and herbs due to growing consciousness and health awareness. This allows young and raw ideas to try and make a name for themselves in the industry. In the past few years, this packaged industry has seen very rapid and tremendous growth with a reasonable shift in the interest of the consumers. The brands are always coming up with a variety of options and blends of spices that sound lucrative. For example, they are coming up with premixed blends, special curry masala, pickles, jams and a lot more. 

Although there is a group of consumers who are still interested in Indian spice wholesale prices because of the cheap rate at which it comes. 

If a certain future is to be predicted in terms of the spice business in India, it would be the complete revolution of brands in the coming few years. But, the reality is in the future to see.  

“In our ninety years of selling spices, we’ve seen a lot of different things, but the essence has always remained the same. Now, all we have to do is keep the restriction in place until the very end. Food has a consistent flavour regardless of how it is consumed. Over time, we’ve modified the product style and blend, but the excellent quality and flavours have only improved. We offer  wholesale organic spices with authentic taste and essences so that you get the everything in good quality”

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