Increasing disposable income, changing lifestyle and increasing number of modern retail outlets to drive India condiments market through 2024
According to a report released by TechSci Research, ‘India Condiments Market Forecast & Opportunities 2014-2024’, the India condiments market is anticipated to register growth at a CAGR of over 13%, during 2019-2024. The market is anticipated to witness tremendous growth on account of introduction of innovative products and their easy availability through online, traditional and modern trade. Moreover, rising awareness about international cuisine coupled with increasing modern retail outlets offering price and convenience advantages, would further steer growth in the market over the next five years.
Browse Figures spread through Pages and an in-depth TOC on “India Condiments Market”
Among regions, North and West region are the leading regions in the India condimentsmarket. Both the regions are expected to
experience expanding demand for condiments during forecast period as well owing
to changing lifestyles and adoption of various condiments and their
varieties along with rising
population in these regions. On the basis of type, India condiments market is segmented
into sauces and ketchup, pickle, mayonnaise & dressings and others. Of all, sauces
and ketchup segment dominates the market due to relatively
new concepts and numerous variants available in the segment. Nestle
India Limited, Field Fresh Foods Private Limited (Del Monte), Hindustan
Unilever Limited, Cremica Food Industries Limited and Dr. Oetker India Pvt.
Ltd. are some of the leading
players in India condiments market.
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“India condiments market
is witnessing growth owing to consumers having interest in different tastes and
multi-cuisines. Moreover, rapid urbanization, development in economy with consumers
having higher incomes at their disposal and growing working class population
base in the country is shifting focus of people towards innovative products
such as sugar-free, gluten free and non-GMO condiments which is fueling the trend
of healthy living as consumers, nowadays, are becoming conscious about health
and are searching for products that provide health benefits along with taste. Additionally,
increasing focus on R&D activities in food industry is resulting innovative
product offerings with improved quality, which would further steer growth in the market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Condiments Market Forecast &
Opportunities, 2024” has evaluated the future growth potential of condiments
market and provides statistics and information on market structure, size, share
and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment decision.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in India condiments market.
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