Spices are non-leafy parts (e.g. bud, fruit, seed, bark, rhizome, and bulb) of plants used as a flavoring or seasoning, although many can also 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 may be used for the same plants in which the fresh leaves are used as herbs, while other dried parts are used as spices, e.g. coriander, dill. Spices impart aroma, color and taste to food preparations. The volatile oils from spices give the aroma and the oleoresins impart the taste. There is a growing interest in the theoretical and practical aspects of the inner biosynthetic mechanisms of the active principles in spices, as well as in the relationship between the biological activity and the chemical structure of these secondary metabolites. Secondary metabolites in spices have been a fertile area for chemical investigation for many years, driving the development of both analytical chemistry and of new synthetic reactions and methodologies.
In recent years, there has been an emphasis on secondary metabolites in relation to dietary components, which may have a considerable impact on human health.
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 Chili, turmeric, cumin, pepper and many other spices. Total spices export from India stood at 226,225 tons valued at US$ 621.78 in April-June 2016, registering a year-on-year growth of 3 per cent. Major importers of Indian spices in FY 2015-16 were US, China, Vietnam, UAE, Indonesia, Malaysia, UK, Sri Lanka, Saudi Arabia, and Germany. Export of organic spices from India has started in right earnest. The country at present exports around 50 tons of different varieties of organic spices. Exports will get a significant boost in the coming years as more farmers switch to organic methods. Spices Board India has prepared a document on production of organic spices. Spices in India have been grown in small land holdings, with organic farming gaining prominence in recent times. India is the world's largest producer, consumer and exporter of spices; the country produces about 75 of the 109 varieties listed by the International Organization for Standardization (ISO) and accounts for half of the global trading in spices.
The revenues from India market are expected to expand to around USD 18 billion in FY’2020, growing with a CAGR of % from FY’2016 to FY’2020.Thus, as an entrepreneur this project offers an exciting opportunity to you.
Few Indian major players are as under
· Kitchen Xpress Overseas Ltd.
· Kohinoor Foods Ltd.
· M T R Foods Pvt. Ltd.
· M V J Spices (India) Pvt. Ltd.
· Paras Spices Pvt. Ltd.
· Spicer India Pvt. Ltd.