💡 A Deep Dive into India's INR 7.8 Billion Spices Industry
ReadOn Insights January Report: India's Spices Industry. Read on!
ReadOn Insights is our latest initiative to make quality industry insights available to all business owners, employees, professionals and investors and enable them to think sharper, deeper, smarter.
In the seventeenth edition, we look at the INR 7.8 billion spices industry in India.
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👉 India is the largest producer and exporter of spices in the world, and the industry is growing at a 8.11% CAGR, higher than the global 5.1% CAGR.
👉 Rising health consciousness, rising awareness about Indian spices, and the growing food and beverages industry are driving growth for the industry.
👉 85% of the spice production in India is by small-scale farmers and ~2.5 lakh rural workers depend on the spices industry for their livelihoods.
👉 From spice oils to ready-to-use spice mix to sauces and pastes, brands are offering value-added products from spices!
With established brands and new age brands stirring innovation with value-added products, the future of this industry looks very exciting! Read on 👇🏻
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