Swot Analysis Of Spice Industry
B. INDUSTRIAL PROFILE
The spice industry has been witnessing phenomenal growth rates in the international sectors. The changing scenario of world trade will now demand globalization of market and open economy. The global spice and culinary herb industry comprises of many plants having diverse end use including culinary, medical, etc. The industry also consists of spice derivatives like essential oils, oleoresin, spice oils etc. According to international trade estimate about 85% of spices and culinary herbs are traded in dried form. There is no doubt that these new developments will provide unlimited export opportunities, to producing country like India, which gifted with the varying soil and climatic condition spice extracts were developed to meet the new demand of the food processing industry. Compares to whole spice they have more consistency in flavor, much longer shelf, easier storage and handling and not affected by bacterial contamination. The Food Industry across the globe in turning more and more spice oil and oleoresins to create newer varieties of food. New flavor system are being developed to introduce new products in the market and create competitive advantages have vast natural resources.
World Spice Production Details In tons
India 1 600 000 86%
China 66 000 4%
Bangladesh 48 000 3%
Pakistan 45 300 2%
Turkey 33 000 2%
Nepal 15 500 1%
Other Countries 60 900 3%
Total 1868 700 100%
The world production and processing centers of spices and culinary herbs
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