Nov.17

Industry Trends, Share, size, growth, opportunity and Forecast 2021-2026: Indian Spice Market in precise.

dry fruit prices

It was 2015-2020 when the Indian spice market grew at a CAGR of 15%. Consumers are preferring to buy wholesale spices considering the regular use. According to the IMARC Group, the market can boost, continuing its strong growth between 2021 and 2026. The insights presented here are evaluated by looking at the COVID surge in the country, its direct influence on various end-use industries. 

What are Spices?

In general, spices are additives that act as a flavouring agent in food and add bright colour. Additionally, spices act as great preservatives that do not have any such harmful side effects.

Where do they come from?

Naturally, spices are dried fruits, dried vegetables, aromatic seeds, barks, roots, etc. In many Indian households, they are found in their natural state, made into a paste form in every use. But these days, the powder form of these spices is more preferred due to ease and convenience. The best part about spices is the alluring aroma, texture, and taste to otherwise bland food items. Additionally, spices have zero calories that enhance their popularity. For ages till today, India has counted as the largest producer of spices in the entire world, exporting spices to major other countries around the globe. These spices include turmeric, chilli, cumin, coriander, mustard, tamarind, fenugreek and a lot more. The Indian spice wholesale price is pretty decent which makes it much convenient for consumers to buy spices in bulk.

Currently, the Indian spice market is experiencing an augmentation in sales due to various reasons. Let’s take a look at them:

The primary reason for spice market growth has to be because of the flavour it offers. The crowd is becoming aware of the authentic cuisines, new flavours, different types of snacks that have paved the way for the market to expand. These spices serve as perfect flavouring agents and natural preservatives for ready-made snacks.

The second reason is the busy lifestyle. With the advancement of technology, the world has become much faster. This has made way for increasing demand for something quick and easy. Processed food packets are found in almost everyone’s pantry, and spices form a very major part of it.  

Lastly, the expansion in options is another big reason for bolstering the market growth. The crowd is becoming aware of numerous western cuisines that incorporate a variety of new spices and their respective blends. This has significantly increased the demand for spices in the country as a whole. 

What is the dominance of raw and organic spices in the country?

There were a lot of local brands practising adulteration of spices and selling harmful and mixed packets manufactured locally. But, recently, the Government has banned the adulteration of spices, which is paving the way for organic spice sales. 

Due to the pandemic and other health invasions, consumers are much informed about the importance of good health. Thus, they prefer to buy organic spices, which encourage brands to develop natural, organic and raw products. 

All these spices have had the best contribution in bringing the delectable taste of genuine flavours on the platter. Spices are not limited to contribution towards well-being, but also have a significant role in bringing togetherness on the table through their delectable taste. This is the principle ground behind the ninety years of legacy of Minar. We don’t just serve health, we serve togetherness. Find the best wholesale market of spice in India at our stores.

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