INDIA HAS always been known as the land of spices and it was the spices that brought several foreigners to India ever since the ancient times. The history of Indian spices is said to date back to about 7,000 years ago, even before the Roman and Greek civilisations existed. From grandma’s spice box to packaged spice mixes, the Indian kitchen has seen a glorious journey of spices. The country which was known as the spice box of the West has seen a beautiful transformation of the market from home ground spices to packaged spices. Brands both big and small have found a space for themselves not just in native Indian markets, but also across the world.
The Indian spices market size reached Rs 160,676 crore in 2022. According to the industry insiders and observers, it is expected that the market will reach Rs 298,909 crore by 2028, exhibiting a Compound Annual Growth Rate (CAGR) of 10.9 per cent during 2022-2028.
The ongoing trend of transitioning from loose spices to branded ones is shaping the Indian spices market. As consumers increasingly opt for branded spice products, they are contributing to the projected growth in the sector. By the fiscal year 2030, industry leaders predict that around 15 spice companies are anticipated to surpass Rs 1,000 crore in revenue, with four of them crossing the Rs 5,000 crore annual turnover mark.
この記事は BW Businessworld の 21 October 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は BW Businessworld の 21 October 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
