Despite being the largest producer and exporter of spices, India holds only 0.7% share in the global seasoning market—a market valued at $14 billion in 2024—compared to China’s 12% and the U.S.A.’s 11%, according to Ramkumar Menon, chairman of the World Spice Organisation (WSO).
Key Points
- Export Figures:
- India exports 1.5 million tonnes of spices worth $4.5 billion.
- This accounts for 25% of the global spice market, which is valued at $20 billion.
- Value-Added Products:
- Currently, only 48% of India’s spice exports are value-added products, while the rest are sold as whole spices.
- To meet the Spices Board of India’s export target of $10 billion by 2030, the share of value-added spices needs to increase to 70%.
- Market Opportunity:
- Although India dominates spice production and exports, its share in the seasoning market is very low.
- There is a significant opportunity for growth in this segment, leveraging India’s rich spice heritage and expertise.
- WSO’s Role:
- The World Spice Organisation, a not-for-profit established under the Travancore Cochin Literary, Scientific And Charitable Societies Act, 1956, plays a key role in recognizing the contributions of spice associations and regulatory bodies to the industry.
(Sources: The Hindu & WSO)
