Indian Spices Market Set for Explosive Growth with 5.98% CAGR by 2030

MarkNtel Advisors recently published a detailed industry analysis of the Indian Spices Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Indian Spices Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030

The Indian Spices Market size was valued at around USD 17.28 billion in 2024 and is projected to reach USD 24.48 billion by 2030. It is also estimated to grow at a CAGR of around 5.98% during the forecast period, 2025-30.

Key Findings in Indian Spices Market:

• Historical Analysis: 2020–2023
• Base Year: 2024
• Forecast Period: 2025–2030

Leading Market Players- ITC Limited, Tata Consumer Products Limited, Everest Spices, Orkla ASA (MTR Foods), House of Spices (India) Inc., McCormick & Company, Inc., Mane Kancor Spices Pvt Ltd, Nedspice Group, Olam International Limited, MDH Spices, Catch Foods, Adani Spices, Patanjali Ayurved Limited, Zoff Foods Pvt. Ltd., Ajy Overseas, and Others

Key Highlights of the Report

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

What are the major Driver the Indian Spices industry?

Expansion of Indian Hotels & Restaurant Groups Across the Globe Accentuates the Market Growth – In recent years, there has been a rise in the number of Indians residing in other countries, either due to study reasons or business-related purposes. These consumers need restaurants that specialize in making Indian cuisine. As a result, several hotels that primarily provide Indian dishes are being launched in other countries. The expansion of Indian restaurant chains across the region such as the US, London, Dubai, Singapore, etc., has strongly contributed to the growth of the Indian Spices Market since food items prepared by these restaurants follow traditional Indian recipes that use a wide range of spices. Moreover, several international restaurants have started incorporating conventional Indian dishes in their menu to gain the attention of the Indian inhabitants. As a result, the demand for traditional Indian spices to get an accurate taste & flavor is rising, driving market growth. Further, several nations are easing their regulatory policies and providing ease of doing business. Therefore, Indian hotels & restaurant owners would continue to expand into other countries. This, in turn, is further expected to boost the demand for Indian spices worldwide.

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What segments define the Indian Spices Market from 2025 to 2030? How do these segments contribute to market dynamics and growth?

By Product Type

• Pure Spices- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Turmeric- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Cumin- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Cardamom- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Coriander- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Ginger- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Garlic- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Pepper- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Red Chilli- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Mustard Seeds- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Fenugreek- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Tamarind- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Others (Fennel, Clove, etc.)- Market Size & Forecast 2020-2030F, (USD Billion)
• Blended Spices- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Garam Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Non-Veg Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Kitchen King and Sabzi Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Chole and Channa Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Sambhar and Rasham Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Paneer and Curry Masala- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Others (Pav Bhaji Masala, Chat Masala, etc.) - Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)

According to report, Among them, Pure Spices hold the largest market share due to their versatility and applicability in most food preparations and other uses. 

By Form

• Whole- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Powder- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Paste- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Others (Crushed, Chopped, etc.)- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)

According to report, Of them, the powder form of spices holds the largest market share. 

By Nature

• Organic- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Conventional- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)

By Application

• Curries- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Snacks and Convenience Food- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Sauces and Dressings- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Frozen Food- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Others (Soups, Beverages, etc.)- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)

By End User

• Food Service Outlets- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Industrial Applications- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Household- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)

By Distribution Channel

• Offline- Market Size & Forecast 2020-2030F, (USD Billion)
• Direct Sales- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Supermarkets/Hypermarkets- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Convenience Stores- Market Size & Forecast 2020-2030F, (USD Billion, Thousand Tons)
• Online- Market Size & Forecast 2020-2030F, (USD Billion)

Explore the Complete Indian Spices Market Analysis Report – https://www.marknteladvisors.com/research-library/indian-spice-market.html

Geographical Analysis: Indian Spices Market

By Region

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Indian Spices Market Recent Development:

• 2024: ITC Ltd is in early discussions with Norway’s Orkla ASA to acquire its Indian subsidiaries, MTR Foods Pvt Ltd and Eastern Condiments Pvt Ltd, for approximately $1.4 billion. The company has been actively seeking opportunities to expand its presence in the spices and ready-to-cook food sectors.
• 2025: AWL Agri Business (formerly Adani Wilmar) is pursuing acquisitions in pulses and spices to expand its food business after acquiring GD Foods (Tops brand). The company aims to double its food vertical revenue in 3-4 years.

Key Questions Addressed in This Study

• What are the primary factors driving the growth of the Indian Spices Market?
• How is the Indian Spices Market expected to evolve over the next five years?
• What key insights can be drawn from current trends shaping the market?
• What is the current market size, and how is it forecasted to change in the coming years?
• What is the future outlook for the market in terms of technological innovation and geographic expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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