Latest News- Blended Spices Market in India: Supermarket is expected to lead the Distribution Channel segment during 2024-2028
The Blended Spices Market in India is being driven by Rising awareness about health benefits of blended spices
The Blended Spices Market in India is expected to grow at a CAGR of 13.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 855.8 million. In India's dynamic retail landscape, private-label blended spices have emerged as a lucrative focus area for major retailers. By selling various types of blended spices under their own brand names, retailers are capitalizing on the growing demand and increasing their profitability. Notable retailers, such as Big Basket, Grofers, and Satvacart, have introduced their own private-label blended spice offerings on online grocery distribution channels. Over the last decade, the private-label product segment has expanded significantly, with many brands offering authentic blended spices at competitive prices, undercutting those of branded products. This trend is significantly contributing to the growth of the blended spices market in India.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Distribution Channel (Supermarket, Convenience store, Online) Type (Garam masala, Non-veg masala, Chole and channa masala, Others) Geography (APAC).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Blended Spices Market in India Research Report
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The blended spices market in India is witnessing significant growth due to the increasing popularity of packaged foods and exotic cuisines. With rising health consciousness, there is a growing demand for blended spices as solutions for digestion-related problems and immune system boosters. Turmeric, ginger, garlic, and other spices offer numerous nutritional benefits. India's spice exports are thriving due to the unique flavors of whole and ground spices, garam masala, curry powder, chili powder, herbs, pre-seasoned products, and spice blends used in various cuisines for flavoring and seasoning food products. The trend towards health and wellness, meat alternatives, plant-based diets, and veganism is further fueling the demand for blended spices.
The blended spices market in India is a significant segment of the global packaged foods industry, with a focus on exotic cuisines and health consciousness. Manufacturers and food processing vendors specializing in blended spices contribute to this market, which is primarily driven by the health benefits associated with these products. Blended spices, such as those containing turmeric, are recognized as immune boosters and effective in addressing digestion-related problems. The market's growth is fueled by the increasing health awareness and the demand for minimally processed foods, which offer nutritional advantages over their processed counterparts. These nutritional benefits include the presence of essential minerals like potassium, dietary fiber, folate, vitamin A, and vitamin C.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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