India spices market size growth future plans and forecast to 2031

Published 2023년 6월 12일

Tridge summary

The India Spices Market is expected to grow at a CAGR of 10.8% from 2023-2031, reaching USD 19.17 billion by 2027. The market was valued at USD 9.31 billion in 2020. The Russia-Ukraine war and COVID-19 pandemic have negatively impacted the market, but the growth is attributed to the pharmaceutical industry's use of spices and the expansion of the food processing industry. The market is segmented by form and region, with packets and sprinklers being the most popular forms, and the southern part of India driving the demand. The market is highly competitive, with key players focusing on improving distribution channels, advertising, and strategic partnerships.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Report Ocean has recently published a comprehensive study on the India Spices Market, covering the prediction period of 2023-2031. Throughout the years, this report has diligently examined the industry, taking into account various factors such as macroeconomic parameters, consumer buying patterns, microeconomic parameters, GDP growth rate, inflation rate, and market demand-supply scenarios. Russia-Ukraine War on Market The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023. key players are [Aachi Spices & Foods Pvt. Ltd., Patanjali Ayurved Limited, Badshah Masala, MTR Foods Pvt Ltd., Eastern ...

Source: Taiwannews