Product Code: ETC381804 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India exotic herbs market import shipments showed a steady growth trend with a moderate CAGR between 2020-2024. However, the growth rate experienced a slight decline between 2023-2024. Overall, the market exhibited a stable expansion with a slight slowdown towards the end of the period.
The India exotic herbs market was valued at around USD 1 Billion and is anticipated that it will register a CAGR growth rate of close to 7%, during the forecast period. Owing to changing lifestyle preferences shifting consumer focus toward nutritious diet plans strong presence of organic herbal supplement manufacturers across the nation these factors are fuelling the growth of this industry further Meanwhile introduction of various government policies promote local cultivation exporting.
The growing awareness of the medicinal and culinary benefits of exotic herbs, coupled with the rising health-consciousness among consumers, drives the market for exotic herbs in India. Additionally, the influence of global cuisines and the pursuit of unique flavors contribute to the market`s expansion.
The exotic herbs market in India faces several challenges, primarily related to cultivation and market dynamics. One of the main challenges is the difficulty in growing certain exotic herbs in the India climate and soil conditions. Exotic herbs often have specific requirements, such as temperature, humidity, and soil pH, which may not be readily available in all regions of the country. This limits the scope of cultivation and affects the overall supply chain.Moreover, there are challenges in ensuring the authenticity and quality of exotic herbs in the market. With increasing demand, there is a risk of fraudulent practices such as mislabeling or adulteration of products. Maintaining quality standards and proper certification becomes crucial to establish trust among consumers and prevent market distortions.Another significant challenge lies in creating awareness and promoting the use of exotic herbs in traditional India practices and modern applications. While exotic herbs may have well-known medicinal or culinary benefits in their native regions, introducing them to a new market can be challenging due to cultural differences and consumer preferences.
The India exotic herbs market witnessed mixed impacts during the pandemic. While there was increased interest in herbal remedies and immunity-boosting products, disruptions in the supply chain and logistics affected the availability of exotic herbs. As the health and wellness trend continues, the market is likely to recover and grow.
India exotic herbs market, companies such as Herb Haven, Spice Oasis, and ExoHerbs Emporium have gained prominence. They offer a wide selection of exotic herbs from around the world, catering to the needs of herbalists, chefs, and health-conscious consumers.