India Fennel Market: Trends, Opportunities and Forecasts (2012-2022)
Added: (Thu Mar 01 2018)
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Driven by various factors such as commercialization, rising demand of organic products and upsurge in the demand of Aromatherapy, the Indian fennel seed market is set to experience favorable growth. Fennel seeds are widely used in culinary and medicinal purposes as it is a rich source of dietary fibers which in turn, is estimated to propel organic beverage and food market over the forecast period. Use of latest production technology by the farmers is one of the prominent drivers driving the Indian Fennel seeds market.
According to Azoth Analytics research report, “India Fennel Market: Trends, Opportunities and Forecasts (2012-2022)”, India Fennel market is projected to exhibit a CAGR of over ~15% during 2017 – 2022, chiefly driven by technological advancement, rising consumption of organic and packaged products, increase in the acreage of production as well as development of irrigation techniques.
Over the recent years, Indian market of spices is largely unorganized and the branded segment makes about 15% such as MTR, Catch, Everest, etc. The Indian government is aggressively taking various initiatives such as setting up Spice Parks to increase land for production as well as for export of fennel seeds. There is a boom in the demand of certified organic fennel seeds through the online retail format in India. Gujarat accounts for the largest share of production in the Fennel Market with a CAGR of over ~x% during the period 2012-2016 and is anticipated to be the fastest growing region during the forecast period. Rising demand of Herbal and Ayurveda products is anticipated to boost market in forecast period.
But there would be certain challenges that will need to be addressed including increasing price of fennel as well as an urgent need to educate farmers about the technological advancement and proper management practices which will result in higher productivity and growth.
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