SPICES
[CODE NO.4393]
Spices are vegetable products or mixtures free from extraneous matter thus are among the most demanded, exotic and expensive products available in Europe in the Middle Ages.Easy available ones being the chilly, cinnamon, black pepper, paprika, cardamom, cumin, nutmeg, ginger, bay leaves and cloves.
Spices and herbs are plants or trees derived substance consisting of rhizomes, bulbs, barks, flowers, buds, stigmas, style, fruits, seeds, and leaves which are grown and cultivated for their aromatic, pungent, colourful or otherwise desirable substances. These are indispensable to balance "humors" in food, a daily basis for good health at a time of recurrent pandemics. In ancient times, these were extensively used to prepare medicines at home because of the antioxidant and medicinal properties so were known as natural drugstore. The herbs and spices also contain essential oils, which are those flavouring components that are used in the FMCG industry for production of cosmetics and toiletry products.
FOOD PROCESSING INDUSTRY :
India itself has the largest domestic market for spices in the world.The raw form of spices are processed through cleaning, drying, grinding, blending, sieving, and grading of the spices accordingly, to forma finished ground product ready for shipping to customers.
Spices can make any food tasty, savoury, aromatic or even sweet which is why it is used. The preference of spice varies from region to region of the world. In the Middle and the Far East, spices and seasonings are an integral part of the food culture, and it cannot be prepared or served without spicy ingredients. So, there will be significant growth in the food processing industry along with the hectic work schedules and work from home culture resulting in sedentary lifestyles of the consumers, the growing popularity of convenience of getting food delivered at the doorstep are all propelling the demand around the world.
MARKET OVERVIEW :
In India:
India is the largest spice producer in the Global market. Along with being largest consumer and exporter of spices.India has certain natural comparative advantages like having temperate, tropical and sub-tropical climates necessary for growing spices,experienced and cultured farmers in the country, its large domestic market which uses spice derivatives in pharmaceuticals and FMCG industry. India is producing more than 75 varieties and is exporting in bulk, as stated by the International Organization for Standardization (ISO). The major produce in 2020 was from the state of Kerala which was the world’s capital of spice because of its multi climatic season, later in 2022 Madhya Pradesh became the largest spice producing state.
For the year 2021-22, India exported spices worth US$ 4,102.29 million. In September 2022, the exports of spices increased by 6.62% to US$ 330.46 million. In 2021-22, it exported 1.53 million tonnes of spices, to 185 different countries.This research is also used by stakeholders and practitioners to examine the foreign tourist’s spice preferences in India, which can be used to entice and enhance their revisit to India.
Globally:
Increasing demand for authentic cuisines globally these days is one of the foremost factors driving the consumption of herbs and spices. Global spices and seasonings can alter the taste of any cuisine and thus correlate with flavours of various regions. Nowadays, spice companies have started new advertising campaigns by featuring globally popular Chefs who increases consumer awareness about the need of consuming spices that retain their natural oils through an informative tone in order to experience a complete culinary delight and also to encourage their consumers to try recipes on their own at home. Manufacturers are also widely campaigning and presenting up on social media platforms such as Facebook, Pinterest, and Twitter to create awareness regarding the various uses of spices .
In past few years, Asia was the leading importer of spices and herbs with 45% of the market share, followed by Europe (28%), North America (US & Canada) (17%), Africa (4%), Latin America and the Caribbean (4%), and Oceania (2%).Asia Pacific held the largest share of over 37.6 percent in 2021, and China being one of the largest consumers of spices in Asia Pacific.The CAGR increase is accountable to this market’s high demand and growth, returning to pre-pandemic levels once the pandemic is over.
FUTURE FORECAST:
Future forecasting of spice industry is how companies make educated predictions about their future performance within their specific target markets. With the rise in vegetarianism and veganism which are part of the global trend that is rapidly expanding, contributes to the growth in spice demand. This will also make plant-based diets increasingly popular in near future.So the companies are focusing on new products, specifically for this group of population, to take advantage of the new trend.Whether planned or unintentional,spices have become vulnerable to adulteration, since the international spice trade has grown tremendously.
With the rise in tourism and hospitality in developing economies, there is an emerging sector popularly known by the term spice tourism which attracts tourists from all over because of the role of spice as a tactical tool in their ingredients. This is also further expected to provide vast opportunities for the manufacturers of seasonings and spices.
COST ESTIMATION
Plant Capacity 1500 Kg./Day
Land & Building (61,419 sq.ft.) Rs. 4.24 Cr
Plant & Machinery Rs. 62.00 Lac
Working Capital for 1 Month Rs. 91.08 Lac
Total Capital Investment Rs. 5.88 Cr
Rate of Return 34%
Break Even Point 47%
- INTRODUCTION
- THERE ARE A NUMBER OF SPICES USED ALONG WITH FOOD, NAMELY
- USES AND APPLICATIONS
- B.I.S. SPECIFICATIONS
- METHOD OF TEST FOR SPICES AND CONDIMENTS
- SCOPE
- EXTRANEOUS MATTER
- GRINDING OF SAMPLE FOR CHEMICAL ANALYSIS
- PRINCIPLE
- TOTAL ASH
- APPARATUS
- DETERMINATION
- WATER-INSOLUBLE ASH
- ACID INSOLUBLE ASH
- PROCEDURE
- MOISTURE CONTENT
- TERMINOLOGY FOR SPICES AND CONDIMENTS
- SCOPE
- TERMINOLOGY
- TABLE -1 LIST OF SPICES AND CONDIMENTS
- INDIAN SPICES SCENARIO
- EXPORTS TREND
- MAJOR EXPORT DESTINATIONS
- GOVERNMENT INITIATIVES
- EXPORT DEVELOPMENT AND PROMOTION OF SPICES
- DECODING INDIAN SPICE MARKET
- GROWTH TRAJECTORY
- NAVIGATING INDIA'S DIVERSITY
- INNOVATION AND CHALLENGES IN SPICE INDUSTRY
- OPPORTUNITIES
- REGULATORY AND LICENSING:
- MAKING/SELLING/MAINTAINING MACHINERY AND EQUIPMENT:
- ECO-FRIENDLY FERTILIZERS AND PESTICIDES:
- MARKETING:
- DIY USES OF SPICES:
- MARKET OF SPICES IN INDIA
- SOME FLAVOURSOME INDIAN SPICES DATA
- OVERVIEW OF SPICE INDUSTRY
- INDIA MARKET
- TOP 10 SPICES (BY PRODUCTION 2019-2020)
- PRODUCTION VOLUME OF SPICES IN INDIA
- PRODUCTION PROJECT
- EXPORT MARKET OF SPICES & SPICE PRODUCTS
- EXPORT PROJECTIONS
- SIZE OF THE INDIAN INDUSTRY
- GLOBAL SPICE MARKET
- INDIAN PACKAGED SPICES MARKET
- PACKAGED SPICES MARKET – GROWTH PROJECTIONS
- PACKAGED SPICES MARKET – LANDSCAPE
- PACKAGED SPICES – MARKET SHARE
- PACKAGED SPICE INDUSTRY – KEY BRANDS
- INDIAN SPICES - BRANDED MARKET
- BRANDED PLAYERS
- TOP BRANDS
- 1. EVEREST MASALA
- 2. MDH
- 3. BADSHAH MASALA
- 4. EASTERN
- 5. CATCH
- 6. PRIYA
- 7. PUSHP
- 8. MTR
- INDIAN SPICE INDUSTRY – INVESTMENT LANDSCAPE
- INDIAN SPICE INDUSTRY - AN INVESTMENT DESTINATION
- COMPLETED DEALS
- INDIAN SPICE INDUSTRY - EXPERT VIEWS
- MARKETING OF SPICES IN INDIA
- COMPARATIVE ADVANTAGE
- HIGH DOMESTIC DEMAND
- DEMAND FOR SPICES FROM THE UPWARDLY MOBILE MIDDLE CLASS IS ON THE INCREASE
- LOW PRODUCTIVITY OF INDIAN SPICES
- POOR AVAILABILITY OF INPUTS
- NON-AVAILABILITY OF SUITABLE FERTILIZERS AND INFRASTRUCTURE
- LACK OF REAL TIME KNOWLEDGE
- MECHANIZATION OF SPICE PRODUCTION AND PROCESSING
- INDIAN BRANDED SPICES MARKET
- MARKETING TASK FOR INDIAN SPICES
- CHALLENGES IN MARKETING OF SPICES
- EFFORTS IN MARKETING DEVELOPMENT
- DEVELOPMENT OF TRANSPORT AND COMMUNICATION FACILITIES
- INSTITUTIONAL MARKETING
- MARKET INTELLIGENCE AND MARKET REGULATION
- EXTENSION OF VOLUNTARY/ COMPULSORY GRADING
- STABILIZING PRODUCTION AND ENSURING COMPETITIVE PRICES FOR EXPORTS
- VALUE ADDITION-THE CURRENCY FOR FUTURE
- IMPROVED PACKAGING AND BRANDING OF SPICES
- EXPORT PERFORMANCE OF SPICES
- EXPORT PERFORMANCE OF SPICES DURING APRIL -SEPT 2021-22 COMPARED WITH APRIL- SEPT 2020-21
- MANUFACTURERS/SUPPLIERS/EXPORTERS OF SPICES
- IMPORTER OF SPICES
- FORMULATIONS OF PREMIX MASALA
- FORMULATIONS OF KITCHEN MASALAS
- FORMULATION OF KITCHEN KING MASALA
- FORMULATION OF PASTA MASALA
- BIRYANI/PULAV MASALA
- PIZZA MASALA
- NOODLE MASALA
- SANDWICH MASALA
- BHELPURI MASALA
- CHAAT MASALA
- PUNJABI GARAM MASALA
- FORMULATIONS AND PROCESS OF MANUFACTURE OF SPICES
- PROCESSING OF FINE SPICE AND CURRY POWDER INVOLVE THE OPERATIONS AS UNDER:
- SOUTH INDIAN CURRY
- FISH MASALA
- FISH KABAB MASALA
- FISH PULAO MASALA
- POTATO MEAT PURI MASALA
- MASALA FOR RICE OF FISH
- PICKLE MASALA (MANGO)
- THANDAI - POWDER
- CHAT MASALA
- FISH - MASALA
- JAL - JEERA
- CURRY-POWDER
- TANDOORI CHICKEN POWDER
- SAMBHAR POWDER
- GARAM MASALA
- FORMULATION OF TEA MASALA
- MUTTON BIRYANI MASALA
- DISINTEGRATING AND POWDERING
- PRINCIPLES OF OPERATIONS
- DRYING
- GRINDING
- PRINCIPLES OF OPERATIONS:
- MIXING
- PACKING
- IMPORTANT STEPS IN HARVESTING, PROCESSING & STORAGE OF SPICES
- HARVESTING - SOME CRITICAL ASPECTS
- PROCESSING - ONE MINUTE IN BOILING WATER
- WHY CONTROL THE MOISTURE CONTENT
- HYGIENE - ENVIRONMENT AND PERSONAL
- POINTS TO BE OBSERVED IN THE STORAGE OF PEPPER
- PRE-HARVEST, HARVEST AND POST-HARVEST OPERATIONS
- PRE-HARVEST
- HARVEST
- POST - HARVEST
- CHILLIES
- PRE-HARVEST AND POST - HARVEST OPERATIONS
- PRE-HARVEST OPERATION
- HARVESTING - IMPORTANT POINTS
- POST-HARVEST HANDLING - THINGS TO REMEMBER
- STORAGE PRECAUTIONS
- DRIED GINGER
- EXPORT OF GINGER
- THE WORLD MARKET FOR GINGER
- LIMIT OF CONTAMINANTS STIPULATED BY IMPORTING COUNTRIES
- PRE-HARVEST AND POST-HARVEST OPERATIONS IN GINGER
- PRE-HARVEST OPERATION - SOME CRITICAL ASPECTS
- HARVESTING-IMPORTANT POINTS
- PROCESSING - THINGS TO REMEMBER PEELING
- DRYING
- BLEACHED GINGER - PROCESSING
- PACKING
- STORAGE - SOME PRECAUTIONS
- THE FUTURE OF INDIA'S GINGER EXPORT
- CUMIN & FENNEL
- PRE-HARVEST AND POST HARVEST OPERATIONS
- PRE-HARVEST OPERATION-SOME CRITICAL ASPECTS
- HARVESTING /IMPORTANT POINTS
- PROCESSING- THINGS TO REMEMBER
- STORAGE PRECAUTIONS
- TURMERIC
- PRE-HARVEST OPERATION-SOME CRITICAL ASPECTS
- HARVESTING-IMPORTANT POINTS
- PROCESSING - THINGS TO REMEMBER
- PACKING
- STORAGE PRECAUTIONS
- PACKAGING OF GROUND SPICES
- PROFITABLE LIFE OF GROUND SPICES IN DIFFERENT FLEXIBLE POUCHES IN 100 G. CONSUMER PACKS AT 92% RH & 38%C
- (ACCELERATED STORAGE CONDITION)
- PROBABLE SHELF LIFE OF GROUND SPICES IN DIFFERENT FLEXIBLE POUCHES IN 100G. CONSUMPTION PACKS AT 65% RH & 270C
- (INDIAN STANDARD CONDITION)
- THE IMPORTANT FINDINGS OF THE STUDY ARE AS FOLLOWS:
- BULK PACKAGING AND STORAGE OF WHOLE SPICES
- OTHER FORMULATION OF MASALAS
- PICKLE MASALA (MANGO)
- CURRY POWDER
- RAITA MASALA:-
- JALJIRA
- FORMULATIONS OF CURRY POWDERS
- FORMULA NO. 1 MADRAS CURRY POWDER
- FORMULA NO. 2 SAMBHAR POWDER
- FORMULA NO. 3 GARAM MASALA
- ADDRESSES OF PLANT AND MACHINERY SUPPLIERS
- COMPLETE PLANT AND EQUIPMENT SUPPLIERS FOR SPICE/MASALA UNIT
- SUPPLIERS OF PACKAGING SOLUTIONS FOR SPICES
- SUPPLIERS OF WEIGHING MACHINES
- SUPPLIERS OF LABORATORY EQUIPMENT AND LAB TESTING EQUIPMENT
APPENDIX – A:
01. PLANT ECONOMICS
02. LAND & BUILDING
03. PLANT AND MACHINERY
04. OTHER FIXED ASSESTS
05. FIXED CAPITAL
06. RAW MATERIAL
07. SALARY AND WAGES
08. UTILITIES AND OVERHEADS
09. TOTAL WORKING CAPITAL
10. TOTAL CAPITAL INVESTMENT
11. COST OF PRODUCTION
12. TURN OVER/ANNUM
13. BREAK EVEN POINT
14. RESOURCES FOR FINANCE
15. INSTALMENT PAYABLE IN 5 YEARS
16. DEPRECIATION CHART FOR 5 YEARS
17. PROFIT ANALYSIS FOR 5 YEARS
18. PROJECTED BALANCE SHEET FOR (5 YEARS)
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