Indian spices industry getting spicier on growing demand
Spices exports up by 115% in volume, 84% in value during 2014-21
image for illustrative purpose
Indian spices reach 180 countries while the main importers include the US, UK, Germany, France, Italy, Canada, Australia, UAE, Iran, Singapore, China and Bangladesh, among others
Mumbai: Indian spices are the most sought-after globally, given their exquisite aroma, texture, taste and medicinal value. India has the largest domestic market for spices and dominates the sector as the world's largest producer, consumer and exporter of spices.
Prime Minister Narendra Modi's observation on the increasing use ofspices in the world, after the outbreak of coronavirus, is borne outby a huge rise in exports of Indian spices, by 34 per cent in rupee terms and 23 per cent in dollar terms in June 2020. Star Indian chef Vikas Khanna has once aptly remarked, "Indian spices not only reflect our evolution but India's beliefs and traditions also."
Echoing similar views, Union Commerce and Industry Minister Piyush Goyal said: "Spices are a part of each one of our lives, and have played a very, very important role in Indian culture, history, tradition and heritage. The story of India is the story of spices. "New India's vision should be spiced with Tadka, laced with spices! Food without spices is like life without colours! Indian spices are spreading the taste, colour and aroma of India in the world."
Early this year (2022) in a message to the Spices Board, Piyush Goyal called for the industry to double the sector exports to $10 billion in the next five years. The spices exports had increased by 115 per cent in volume and 84 percent in value (USD) between 2014 and 2021. It touched a historic high of $4.2 billion in 2020-21. Indian spices and spices products are reaching over 180 destinations all over the world. He urged the industry to sustain the competitive edge of the Indian spice industry with added thrust on high-end value addition and new product development.
Pepper, cardamom, ginger, turmeric, coriander, cumin, celery, fennel, fenugreek, nutmeg, spice oils and oleoresins, and mint products are the major spices shipped abroad. Indian spices reach 180 countries while the main importers include the US, UK, Germany, France, Italy, Canada, Australia, UAE, Iran, Singapore, China and Bangladesh, among others. Everest, MDH, Badshah Masala and Catch spices, Rajesh Masala, PriyaMasala, and Ramdev are leading brands in the country. Hyderabad-based Priya Masala is a part of Ramoji Group which is offering the traditional taste kitchen for the last 38 years. It also offers chicken masala powder, Hyderabadi mutton masala, pickle, and instant mixes.
Patanjali is one of the leading Indian consumer goods companies. Spices of Patanjali include chaat masala, chhole masala, garam masala, sabzimasala and bandhani hing.
Pushp Masala, MTR, Goldie, and Golden areother leading brands. Capital Foods- two brands 'Ching's Secret' and 'Smith & Jones' have captured a significant market due to innovativeproducts. Nestle (known for Maggi Masala) has also made a strongpresence. With its exotic and innovative premium spice brand – 'DPReady Mix,' DP Retail has all set to disrupt the existing market,dominated by traditional spices brands of the country.
Understanding India's taste buds Darwin Platform Group of Companieshas now offered an innovative product range for Indian Kitchens in allfood categories. Darwin Retail has recently launched its premiumquality blended and pure spices under the brand name 'DP Ready Mix'. It offers a new-age spice range. An exotic, spicy, and tangy blend offlavours, DP Ready Mix comes in sprinkler powder form, making it easyand convenient for everyday usage. The innovative spices are available on DP Retail's e-commerce platform www.darwinpil.in and its flagshipstores 'DP Retail.' The products are available in different blended variants like DP Ready Mix Idli, Dosa, Khaman Dhokla, Mix Upma, MakaiCheela, Shira, Poha, Uttappa and many more.
Talking to Bizz Buzz, Darwin Platform Group of Companies, Group CEO, DrRaja Roy Choudhury who is spearheading the retail initiative, says, "Now, anybody can be a master chef with the help of our pre-mixes. Weprovide wide options of easy to cook, time-saving, yummiest and on top of that healthier options for breakfast, tea time snacks and midnight hunger prangs."
"We have the most unique and innovative taste enhancer that beats all other spices available in the market. Specialised in condiments and cooking pastes, the new range of products signifies yet another long-needed innovation in food processing, he added.
New technology, with strong R&D essentially masala formulation is driving the growth of the industry. Complete masala, being produced by players like DP Retail and MDH, offers value for money. The focus is on dishes now. Chefs, food experts and others are experimenting and creating new formulas. In 2020, a dipstick study by industry body Assocham had noticed how rising demand for spices in the domestic market even led to a sharp increase in their prices by almost 12 per cent in June 2020 whereas the headline CPI inflation was half that level. Robust branding and marketing are yet other key drivers.
Growing demand would drive further growth of the industry. The domestic market offers huge opportunities and exports are expected toincrease with new and innovative products specially designed for the global market.
