Spices are non-leafy parts (e.g. bud, fruit, seed, bark, rhizome, and bulb) of plants used as a flavoring or seasoning, although many also can be used as an herbal medicine. A closely related term, ‘herb’, is used to distinguish plant parts finding the same uses but derived from leafy or soft flowering parts. the two terms could also be used for a similar plants during which the fresh leaves are used as herbs, while other dried parts are used as spices, e.g. coriander, dill.
India is that the largest producer, consumer and exporter of spices Andhra Pradesh, Gujarat, Orissa, and Rajasthan are major states producing varieties of spices. The project envisages setting up of a Spices Cryo-grinding unit. This is often a replacement concept in spices processing, which ends up into higher production with better outcome quality (aroma and color), than conventional spices grinding unit. This technology uses nitrogen to regulate the grinding chamber temperature, the results of which is reduction in loss of volatile essential oils within the spices and better production rate.
There is an increasing demand for organic foods from the consumers, to avoid health hazards caused by pesticides, fertilizers, additives, and other substances that are found in regular food items. This has fueled the demand for organic spices. Additionally, the rising focus on food safety is additionally inducing food processing companies to prefer organic spices for the production of organic food items.
India spices powder and blended spices market is expected to grow at an impressive rate during the forecast period. Major reason for spices powder and blended spices market growth in India is that India has the largest foodie population in the world, which is largely inclined towards spicy and tasty food. Besides this, increased consumption of packaged foods and rising disposable income are factors for market growth. Increasing working population with limited time for cooking has increased the demand for convenience foods, ultimately increasing the demand for packaged spice products. There are several benefits of buying packaged spices compared to lose spices as there are less chances of contamination and assurance of highest quality. Additionally, with the growing consumer preference towards convenience and high-quality products, the demand for branded and packaged spice products is expected to increase across the country. The Indian pure packaged and blended spices market has grown with a CAGR of more than 8% in the forecast period FY 2018-19 to FY 2022-23. Entrepreneurs who invest in this project will be successful.
Few Indian major players are as under
Gokul Agro Inds. Ltd.
Indian Chillies Trdg. Co. Ltd.
Indian Products Pvt. Ltd.
Eastern Condiments Pvt. Ltd.
Jeet (India) Pvt. Ltd.
M V J Foods (India) Pvt. Ltd.
M V J Spices (India) Pvt. Ltd.
Nedspice Processing India Pvt. Ltd.
S S P D L Real Estates India Pvt. Ltd.
S S P D L Realty India Pvt. Ltd.
