25/02/2020 – News / Food Processing / Condiments / Spice / Sauce / India
India’s condiments market to achieve 13% CAGR up to 2024
India’s condiments market stood at US$638.96 million in 2018 and is projected to grow at a CAGR of over 13 per cent, to reach more than US$1.34 billion by 2024, according to a new report.
Anticipated growth in the market can be attributed to increasing cross-cultural interaction, a growing inclination towards consumption of Western food and cuisines, and an expanding number of modern retail outlets offering price and convenience advantages to the customers.
Moreover, increased focus on R&D activities in the food industry has brought various developments in food quality and innovations in products such as sugar-free and gluten free condiments, stimulating the trend of healthy living. This factor is expected to provide ample opportunities for the condiments market in India during the forecast period.
Additionally, the emergence of diet sauces and other condiments is also expected to fuel growth in the market. Other emerging trends the report identifies as likely to further add to the rise in demand include increasing standards of living, changing lifestyle and rising demand for sophisticated taste in meal are emerging trends in the industry.
To access the new report, visit: www.techsciresearch.com/report/india-condiments-market/4183.html