Spices impart aroma, color and taste to food preparations. The volatile oils from spices give the aroma and the oleoresins impart the taste. 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.
The Indian spices market is projected to reach approximately USD 18 billion by 2020 with growth in the sector is expected to be led by branded spices and spice mixes. The Indian government is aggressively promoting spice exports through various initiatives such as setting up of spice parks. Spice Parks offer common processing facilities to both producers and exporters. As a whole there is a good scope for new entrepreneur to invest in this business.
Few Indian major players are as under
· A D F Foods Ltd.
· Aachi Masala Food'S Pvt. Ltd.
· Akay Flavours & Aromatics Pvt. Ltd.
· Catch Foods (India) Ltd.
· Chordia Food Products Ltd.
· Devon Foods Ltd.