Business Prospects of Manufacturing Spices in Maharashtra

Best Business Opportunities in Maharashtra

Maharashtra occupies an important place in the production sector. It is one of the fore-running industrial states constituting 13% of the industrial output in the nation. Around 46% of the Gross State Domestic Product (GSDP) comes from the industry. Spices are grown abundantly in the state of Maharashtra. The single ingredient spices are equally popular as blended spices. Because Maharashtrian cuisine is hugely dependent on flavours and spices. However, the opportunity for spice market is not limited to seasoning, flavouring, colouring, and pungency. As spices can also be used for food preservation, storage pesticide, and medicinal purposes owing to its antioxidant and antimicrobial properties.

Cumin powder, turmeric powder, coriander powder, black pepper powder, garam masala powder, dill seed powder, cardamom powder, and curry powder are some of the spices popularly consumed in Maharashtra. The state is also well-known for its ‘goda masala’. The uniqueness of the state is that the culinary practices differ from region to region. It could range from pure vegetarian Brahmin delicacies sans ‘garlic’ & ‘onion’ to Kolhapuri cuisine, non-vegetarian cuisine, and Malvani cuisine where the dishes primarily consist of sea-food.

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The area under spices cultivation is about 1.66 lakh/ha and the manufacturing of spices is approximately 14 lakh metric tonnes. As per projections, about 3 lakh hectares of land would be allocated for the cultivation of spices in the state, and the production is expected to reach 30 metric tonnes/ha. The Maharashtrian condiments and spices contributed about INR 33.44 billion to the Indian economy in the year 2018, indicating a slight increase relative to the previous financial year. The spices sector contributed 4.7% to the Indian GVA (Gross Value Added) in the same year.

Related Books:- Spices And Condiments Cultivation

Turmeric, Ginger, Black-pepper, Chillies, and Cardamom are the commonly cultivated spices in the state. The coastal belt (Konkan) and the western region of Maharashtra are favourable for growing spices and turmeric respectively. The companies that sell spices tend to conduct extensive market research and deploy it as a vital input for developing a new product. The spices manufacturing units in Maharashtra have initiated cutting-edge technology. The units are now completely automatic with advanced processing and inspection techniques. To ensure adequate hygiene, the packaging of spices and condiments is also merchandised.

The spice market is hugely unorganized and the branded segment constitutes about 15%. The spice market in India is estimated to climb about 18 billion US dollars by the year 2020 with growth in the sector expected to be led by spice mixes and branded spices. Overall, India exports around 52 various spices. The government of India is extensively facilitating the export of spices by implementing various schemes such as the establishment of spice parks, offering common manufacturing facilities to manufacturers and exporters.

Considering the huge demand for spices, large-scale availability of raw spices, government schemes, and high-end techniques; establishing Research & Development (R&D) units to manufacture spices would prove to be a lucrative venture. Raw spices can be procured upon a stringent selection process from reputed suppliers within India and across the globe. The processing of spices can be carried out in unique customized plants designed exclusively for the company. The R&D department can closely work with the procurement, production, and marketing functions to ensure the supply of quality products.

NPCS is one of the influential brands in the industrial world offering consolidated technical consultations. Having explored the market for, ‘Prospects of manufacturing spices in Maharashtra’, executing the same would be a beneficial venture.

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