What Is The Growth Forecast For Indian Spice Market?

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Welcome To India Brand Equity Foundation
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What Is The Growth Forecast For Indian Spice
Market?
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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. 

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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

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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

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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

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How Did COVID-19 Spur The Indian Spices Demand?

• COVID-19 time proved to be the best time for
  Indian spices because 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

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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. 
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• Brands are increasing their footprints by
  collaborating with smaller regional brands
• More flavors are launched to provide more options
  to consumers

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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

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