Spices Market - Forecast(2021 - 2026)
Spices Market Overview: According to official sources from the Indian Brand Equity Foundation, between the time period of 2017-2018, India exported a humongous 1.08 billion kilograms of spices of various types to different countries in the world. This entire export’s market value stood at a massive $3.11 billion dollars. Such is the extent to which South Asia’s spices are desired by different cuisines around the world. Because of their unique aroma and taste, Indian spices have always been solicited for global use since the ancient times. The climate of Indian subcontinent makes it an ideal place for spices to get cultivated without affecting its regular produce. Spices have a variety of end user industries including bakeries, cosmetics, pharmaceuticals, and the most prominent one: food and beverage industry. In the year 2018, the global spices market size stood at $8.4 billion. Due to increasing demand for spices on account of expanding urbanization, during the forecast period of 201...