India’s spice industry is on track to achieve $10 billion in exports by 2030, with a focus on expanding into new global markets, including Africa, South America, and Eastern Europe. The industry is also tapping into emerging sectors like health, wellness, nutraceuticals, and pharma, where demand for spices like ginger and turmeric has surged due to their health benefits, especially post-COVID.
According to Ramkumar Menon, Chairman of the World Spice Organization (WSO), the industry is also looking to increase its share in the global seasonings market, which sees India contributing only 0.7% by volume. In contrast, China holds a 12.2% share, leaving significant room for India’s growth.
India’s spice exports have already shown strong performance this year, reaching Rs. 17,488 crore ($2.09 billion) between April and September, an 8.86% increase over last year. Popular exports include chili, cumin, mint, and turmeric in various forms, with top markets being China, Bangladesh, the USA, and the Middle East. With a production capacity of 12.48 million tons annually, India is well-positioned for further growth in the sector.
The WSO and the All-India Spices Exporters Forum are also driving visibility for Indian spices through events like the International Spice Conference, set to take place in Bengaluru in February 2025, and the National Spice Conference in Ahmedabad on November 15–16.