Ginger, Turmeric, Pepper & Red chilies are used for flavor, colour, aroma and preservation of food or beverages. Spices may be derived from many parts of the plant: bark, buds, flowers, fruits, leaves, rhizomes, roots, seeds, stigmas and styles or the entire plant tops. Spices are often dried and used in a processed but complete state. Another option is to prepare extracts such as essential oils by distilling the raw spice material (wet or dry), or to use solvents to extract oleoresins and other standardized products.
India is the largest producer, consumer and exporter of spices and spice products in the world and produces more than 50 spices. India is also a big exporter of Chilli, turmeric, pepper and many other spices. The country also imports various spices to meet its local requirement of taste, as Indian dishes are incomplete without adding varieties of spices to them. Andhra Pradesh is the largest spice producing state in India. Gujarat, Karnataka, Rajasthan, Tamil Nadu, Assam, Kerala, Madhya Pradesh, Maharashtra, Orissa, Uttar Pradesh and West Bengal are the other major spices producing states in India. Chilli is the major spice crop occupying about 29 percent of area under cultivation and contributing about 34 percent of total spices production in the country. Turmeric accounts for 14% of production and 6% of area. Seed spices contribute 17% of production and occupy 41% of area while pepper contributes 2% of production and occupies 9% of area of the total spices in the country.
Food & beverage
Cosmetics & toiletries
Others (feed, insecticides, and paint)
Oleoresin is commonly marketed as spice drops and contains the total pungency and flavor constituents of pepper. Oleoresin is produced by solvent extraction of pepper powder using a suitable organic solvent such as acetone, ethanol, ethyl acetate or ethylene dichloride. Either a one-stage or a two-stage process is employed for this. In the first case, the oil is recovered along with the resins by solvent extraction. The global oleoresins market is estimated to be valued at USD 1.2 billion in 2019 and is projected to reach USD 1.7 billion by 2025, recording a CAGR of 6.0% from 2019 to 2025. Oleoresins are botanical extracts of essential oils and resin constituents. They form the flavor and aromatic profile of the plant from which they are extracted. Oleoresins are volatile or non-volatile compounds obtained from spices using solvents. They prove to be more shelf-stable than the whole spice and can be custom-made to suit the requirements of the buyers. Thus, due to demand it is best to invest in this project.
Few Indian major players are as under
Akay Spices Pvt. Ltd
Basil Chemicals & Additives Ltd.
D T A Amalgamated Foods Pvt. Ltd.
Kancor Ingredients Ltd.
Gokul Agro Inds. Ltd.
Nisarga Biotech Pvt. Ltd.