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$10B Export Target for Booming SPICE Industry
In recent years, India’s spice exports have witnessed an impressive surge, with a 115 per cent increase in volume
and an 84 per cent rise in value between 2014 and 2021, reaching a historic high of $4.2 billion in 2020-21. This remarkable growth has captured the attention of several multi million-dollar FMCG companies in India, who are now eyeing the spice market. Startups in the sector are also not
lagging behind. With the Spice Board of India and other government bodies introducing various initiatives for the
sector’s growth, it's worth examining what the Indian spice sector looks like in 2023.

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Published by MMA Media, 2023-04-05 10:35:40

FFOODSSpectrum April 2023

$10B Export Target for Booming SPICE Industry
In recent years, India’s spice exports have witnessed an impressive surge, with a 115 per cent increase in volume
and an 84 per cent rise in value between 2014 and 2021, reaching a historic high of $4.2 billion in 2020-21. This remarkable growth has captured the attention of several multi million-dollar FMCG companies in India, who are now eyeing the spice market. Startups in the sector are also not
lagging behind. With the Spice Board of India and other government bodies introducing various initiatives for the
sector’s growth, it's worth examining what the Indian spice sector looks like in 2023.

Keywords: Spice industry,Food industry

The Most Sought-After & Much Talked About Annual Awards Night To Felicitate The Stalwarts Of Indian Biotechnology & Health Science Industry Hear from the Experts Search for a New Molecule: Shift from Generics to Novel Drugs To Know More Mail at: [email protected] or visit: www.biospectrumindia.com/bsiawards2023 30th June 2023 The Lalit, New Delhi


RNI TC No.: MAHENG14627 Date of Publication: 30.3.2023 RNI NO.: KARENG/2013/54271 Date of Posting: 1.4.2023


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