Asafoetida Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, United Arab Emirates, India, Australia, China - Size and Forecast 2024-2028

Published: Feb 2024 Pages: 97 SKU: IRTNTR77503

Asafoetida Market Forecast 2024-2028

The asafoetida market size is projected to increase by USD 47.06 million, at a CAGR of 5.45% between between 2023 and 2028. 

The APAC region is a pivotal market, driven by cultural significance and culinary diversity. Countries like India, Pakistan, Afghanistan, and Iran are key producers and consumers, incorporating it into traditional dishes. Growth drivers include the region's rich culinary heritage and its integral role in flavoring savory dishes. With rising consumption trends, the APAC market exhibits a promising growth rate, offering benefits of convenience and global market analysis for forecasts and trends.

Market Overview

The market shows an Accelerated CAGR during the forecast period.

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 Market Growth Analysis Driver 

Increasing consumer awareness of exotic spices and culinary diversity is the key factor driving the market.  As consumers become more adventurous in their culinary explorations and seek new flavor experiences, there is a growing interest in exotic spices. This heightened awareness is fueled by factors such as globalization, travel, and exposure to diverse cuisines through media platforms and international dining experiences.

Further, consumers are increasingly seeking authenticity and uniqueness in their food choices, leading to a greater appreciation for traditional spices, which are integral to various regional cuisines. Asafoetida's distinctive flavor profile and versatility in enhancing savory dishes make it an appealing choice for adventurous cooks and food enthusiasts. Thus, such factors will drive the market during the forecast period.

 Market Growth and Trends 

Increasing demand for organic and sustainable products is one of the primary market trends. As consumers become more mindful of the impact of their purchasing decisions on personal well-being and the planet, there is a heightened interest in organic products perceived to be healthier and environmentally friendly. Organic asafoetida is produced without the use of synthetic pesticides, fertilizers, or genetically modified organisms (GMOs), aligning with consumer preferences for natural and chemical-free ingredients.

Additionally, manufacturers and retailers are responding to this demand by offering certified organic and sustainably sourced products, often accompanied by transparent labeling and traceability initiatives to reassure consumers about product authenticity and ethical production practices. As the demand for organic and sustainably sourced foods continues to rise globally, this trend is expected to drive growth and innovation in the market during the forecast period.

Market Challenge 

Quality control and adulteration issues with counterfeit or inferior products is a challenge that affects market growth. Quality control and adulteration pose significant challenges, threatening product integrity, consumer trust, and market sustainability. Asafoetida, being a high-value spice, is vulnerable to adulteration and contamination due to its scarcity and the high demand for it. One of the primary challenges is the difficulty in ensuring consistent quality across the supply chain. Also, lack of proper oversight and regulation in these regions can lead to inconsistencies in product quality and purity.

Moreover, these products may not only compromise flavor and aroma but also pose health risks to consumers, particularly those with allergies or sensitivities. Counterfeit or inferior products further exacerbate the challenge, as unscrupulous suppliers may mislabel or misrepresent lower-quality substitutes as genuine asafoetida, deceiving consumers and undermining market credibility. Thus, growing concerns about quality control and adulteration issues with counterfeit or inferior products hamper the market during the forecast period.

Market Segmentation by Product

The milky white asafoetid?segment will account for the largest share of this segment.?Milky white asafoetida is a byproduct of the traditional process used to extract resin from the roots and stems of the Ferula herb. During this process, the resin is dissolved in water and then filtered to remove impurities, resulting in a milky white liquid. Milky white asafoetida is valued for its milder flavor and aroma compared to the traditional brown resin. Additionally, as awareness of exotic spices and culinary diversity continues to grow worldwide, milky white asafoetida presents an opportunity for producers to expand their product offerings and cater to the evolving tastes of consumers, which, in turn, boosts the growth of the market during the forecast period.

Market Segmentation by Distribution Channel

The market share by the offline segment will be significant during the forecast period. Offline distribution channels play a crucial role in the market, facilitating the physical exchange of products between manufacturers and consumers. Brick-and-mortar retail outlets are commonly found in local neighborhoods and city centers, offering a wide range of spices, including asafoetida, to consumers. Specialty spice stores cater specifically to culinary enthusiasts and chefs, providing a diverse selection of high-quality spices, often sourced from different regions around the world.

The offline segment was valued at USD 109.99 million in 2018. 

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Additionally, wholesale markets serve as distribution hubs where bulk quantities of asafoetida are bought and sold by retailers, restaurants, and food service providers. These markets facilitate transactions between suppliers and buyers at wholesale prices, supporting the distribution of asafoetida to various retail outlets and food establishments. Overall, offline distribution channels remain integral to the market, providing accessibility, convenience, and diverse sourcing options for consumers while also supporting the growth and expansion of the spice industry worldwide. Therefore, the market witness positive growth during the forecast period.

Key Regions for the Market

APAC is estimated to contribute 61% to the growth of the global market during the forecast period

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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The rising disposable incomes across APAC nations contribute to increased spending on food and spices, further boosting demand for asafoetida. Moreover, the growing awareness of the potential health benefits associated with asafoetida such as aiding digestion and reducing bloating, drives its popularity among health-conscious consumers.

However, the market faces several challenges, including supply chain issues such as inconsistent quality and availability of raw materials, which can impact market stability and growth. Furthermore, product innovation, such as the introduction of innovative formulations and packaging formats, caters to changing consumer needs and preferences, driving regional market expansion. Therefore, the regional market witnessed positive growth during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.

  • Key Offering- Aachi Masala: The company offers asafoetida namely Aachi asafoetida powder that has a sturdy flavor and odor. It makes Indian and other dishes easier to digest. In most Indian cooking, it is used as a taste enhancer and once cooked releases an onion-like flavor.
  • Key Offering- Dabur India Ltd.: The company offers asafoetida through its subsidiary Badshah Masala namely Badshah Premium Hing which is a high-quality culinary spice made with compounded asafoetida.

The  market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 10 market companies, including:

Anu Foods, Dhanhar Exim Pvt. Ltd., DS Group, EVEREST Food Products Pvt. Ltd., G P And Co., HingWala, Laljee Godhoo, Mahashian Di Hatti Pvt. Ltd., Medikonda Nutrients, MTR Foods Pvt. Ltd., MVM Asafoetida, Patanjali Ayurved Ltd., Qualfis Foodz Pvt. Ltd., S S Pandian and Sons, Simhas Spices and Herbals, SRK Traders and Manufacturers, Tata Sons Pvt. Ltd., and VKA Food Products

The market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

  • Distribution Channel Outlook
    • Offline
    • Online
  • Product Outlook
    • Milky white asafoetida
    • Red asafoetida
  • Region Outlook
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • India
    • South America
      • Chile
      • Brazil
      • Argentina
    • Middle East & Africa
      • Saudi Arabia
      • South Africa
      • Rest of the Middle East & Africa

Market Analyst Overview:

The market is experiencing a surge in demand across various end application industries including chewing gum and other applications, presenting lucrative opportunities for key players in the industry. Factors such as cost, economic, political, and social scenarios influence the commercial development of asafoetida products. Quantitative and qualitative data provide insights into product pricing, consumer buying behavior, and market outlook.

Additionally, a country's GDP affects product or service penetration, while competitive advantage and product lifecycle dictate market dynamics. Understanding growth drivers, restraints, and challenges is crucial for market evolution. Intermediaries play a pivotal role in distribution, enhancing market reach.

Furthermore, company profiles offer valuable information on end-use industry, product or service type, and market positioning. As the asafoetida market continues to grow, strategic decisions informed by comprehensive market analysis are essential for sustainable growth and success.

Asafoetida Market Scope

Report Coverage

Details

Page number

97

Base year

2023

Historic period

2018-2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 5.45%

Market Growth 2024-2028

USD 47.06 million

Market structure

Fragmented

YoY growth 2023-2024(%)

4.99

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 61%

Key countries

US, United Arab Emirates, India, Australia, and China

Competitive landscape

 Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Aachi Masala, Anu Foods, Dabur India Ltd., Dhanhar Exim Pvt. Ltd., DS Group, EVEREST Food Products Pvt. Ltd., G P And Co., HingWala, Laljee Godhoo, Mahashian Di Hatti Pvt. Ltd., Medikonda Nutrients, MTR Foods Pvt. Ltd., MVM Asafoetida, Patanjali Ayurved Ltd., Qualfis Foodz Pvt. Ltd., S S Pandian and Sons, Simhas Spices and Herbals, SRK Traders and Manufacturers, Tata Sons Pvt. Ltd., and VKA Food Products

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. 

Customization purview

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What are the Key Data Covered in this Market Research Report?

  • CAGR of the market during the forecast period
  • Detailed information on factors that will drive the growth of the market between 2024 and 2028
  • Precise estimation of the market size and its contribution to the market in focus on the parent market
  • Accurate predictions about upcoming trends and changes in consumer behavior
  • Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information about companies
  • Comprehensive analysis of factors that will challenge the growth of market companies

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2023
    • 3.4 Market outlook: Forecast for 2023-2028
      • Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

    4 Historic Market Size

    • 4.1 Global asafoetida market 2018 - 2022
      • Exhibit 18: Historic Market Size – Data Table on global asafoetida market 2018 - 2022 ($ million)
    • 4.2 Distribution Channel Segment Analysis 2018 - 2022
      • Exhibit 19: Historic Market Size – Distribution Channel Segment 2018 - 2022 ($ million)
    • 4.3 Product Segment Analysis 2018 - 2022
      • Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ million)
    • 4.4 Geography Segment Analysis 2018 - 2022
      • Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ million)
    • 4.5 Country Segment Analysis 2018 - 2022
      • Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

    6 Market Segmentation by Distribution Channel

    • 6.1 Market segments
      • Exhibit 30: Chart on Distribution Channel - Market share 2023-2028 (%)
      • Exhibit 31: Data Table on Distribution Channel - Market share 2023-2028 (%)
    • 6.2 Comparison by Distribution Channel
      • Exhibit 32: Chart on Comparison by Distribution Channel
      • Exhibit 33: Data Table on Comparison by Distribution Channel
    • 6.3 Offline - Market size and forecast 2023-2028
      • Exhibit 34: Chart on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 35: Data Table on Offline - Market size and forecast 2023-2028 ($ million)
      • Exhibit 36: Chart on Offline - Year-over-year growth 2023-2028 (%)
      • Exhibit 37: Data Table on Offline - Year-over-year growth 2023-2028 (%)
    • 6.4 Online - Market size and forecast 2023-2028
      • Exhibit 38: Chart on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 39: Data Table on Online - Market size and forecast 2023-2028 ($ million)
      • Exhibit 40: Chart on Online - Year-over-year growth 2023-2028 (%)
      • Exhibit 41: Data Table on Online - Year-over-year growth 2023-2028 (%)
    • 6.5 Market opportunity by Distribution Channel
      • Exhibit 42: Market opportunity by Distribution Channel ($ million)
      • Exhibit 43: Data Table on Market opportunity by Distribution Channel ($ million)

    7 Market Segmentation by Product

    • 7.1 Market segments
      • Exhibit 44: Chart on Product - Market share 2023-2028 (%)
      • Exhibit 45: Data Table on Product - Market share 2023-2028 (%)
    • 7.2 Comparison by Product
      • Exhibit 46: Chart on Comparison by Product
      • Exhibit 47: Data Table on Comparison by Product
    • 7.3 Milky white asafoetida - Market size and forecast 2023-2028
      • Exhibit 48: Chart on Milky white asafoetida - Market size and forecast 2023-2028 ($ million)
      • Exhibit 49: Data Table on Milky white asafoetida - Market size and forecast 2023-2028 ($ million)
      • Exhibit 50: Chart on Milky white asafoetida - Year-over-year growth 2023-2028 (%)
      • Exhibit 51: Data Table on Milky white asafoetida - Year-over-year growth 2023-2028 (%)
    • 7.4 Red asafoetida - Market size and forecast 2023-2028
      • Exhibit 52: Chart on Red asafoetida - Market size and forecast 2023-2028 ($ million)
      • Exhibit 53: Data Table on Red asafoetida - Market size and forecast 2023-2028 ($ million)
      • Exhibit 54: Chart on Red asafoetida - Year-over-year growth 2023-2028 (%)
      • Exhibit 55: Data Table on Red asafoetida - Year-over-year growth 2023-2028 (%)
    • 7.5 Market opportunity by Product
      • Exhibit 56: Market opportunity by Product ($ million)
      • Exhibit 57: Data Table on Market opportunity by Product ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 59: Chart on Market share by geography 2023-2028 (%)
      • Exhibit 60: Data Table on Market share by geography 2023-2028 (%)
    • 9.2 Geographic comparison
      • Exhibit 61: Chart on Geographic comparison
      • Exhibit 62: Data Table on Geographic comparison
    • 9.3 APAC - Market size and forecast 2023-2028
      • Exhibit 63: Chart on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 64: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
      • Exhibit 65: Chart on APAC - Year-over-year growth 2023-2028 (%)
      • Exhibit 66: Data Table on APAC - Year-over-year growth 2023-2028 (%)
    • 9.4 Europe - Market size and forecast 2023-2028
      • Exhibit 67: Chart on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 68: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
      • Exhibit 69: Chart on Europe - Year-over-year growth 2023-2028 (%)
      • Exhibit 70: Data Table on Europe - Year-over-year growth 2023-2028 (%)
    • 9.5 North America - Market size and forecast 2023-2028
      • Exhibit 71: Chart on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 72: Data Table on North America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 73: Chart on North America - Year-over-year growth 2023-2028 (%)
      • Exhibit 74: Data Table on North America - Year-over-year growth 2023-2028 (%)
    • 9.6 Middle East and Africa - Market size and forecast 2023-2028
      • Exhibit 75: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 76: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
      • Exhibit 77: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
      • Exhibit 78: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
    • 9.7 South America - Market size and forecast 2023-2028
      • Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ million)
      • Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
      • Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)
    • 9.8 India - Market size and forecast 2023-2028
      • Exhibit 83: Chart on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 84: Data Table on India - Market size and forecast 2023-2028 ($ million)
      • Exhibit 85: Chart on India - Year-over-year growth 2023-2028 (%)
      • Exhibit 86: Data Table on India - Year-over-year growth 2023-2028 (%)
    • 9.9 US - Market size and forecast 2023-2028
      • Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ million)
      • Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
      • Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)
    • 9.10 United Arab Emirates - Market size and forecast 2023-2028
      • Exhibit 91: Chart on United Arab Emirates - Market size and forecast 2023-2028 ($ million)
      • Exhibit 92: Data Table on United Arab Emirates - Market size and forecast 2023-2028 ($ million)
      • Exhibit 93: Chart on United Arab Emirates - Year-over-year growth 2023-2028 (%)
      • Exhibit 94: Data Table on United Arab Emirates - Year-over-year growth 2023-2028 (%)
    • 9.11 Australia - Market size and forecast 2023-2028
      • Exhibit 95: Chart on Australia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 96: Data Table on Australia - Market size and forecast 2023-2028 ($ million)
      • Exhibit 97: Chart on Australia - Year-over-year growth 2023-2028 (%)
      • Exhibit 98: Data Table on Australia - Year-over-year growth 2023-2028 (%)
    • 9.12 China - Market size and forecast 2023-2028
      • Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ million)
      • Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
      • Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 103: Market opportunity by geography ($ million)
      • Exhibit 104: Data Tables on Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 105: Impact of drivers and challenges in 2023 and 2028
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 107: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 108: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 109: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 110: Matrix on vendor position and classification
            • 12.3 Aachi Masala
              • Exhibit 111: Aachi Masala - Overview
              • Exhibit 112: Aachi Masala - Product / Service
              • Exhibit 113: Aachi Masala - Key offerings
            • 12.4 Dabur India Ltd.
              • Exhibit 114: Dabur India Ltd. - Overview
              • Exhibit 115: Dabur India Ltd. - Business segments
              • Exhibit 116: Dabur India Ltd. - Key offerings
              • Exhibit 117: Dabur India Ltd. - Segment focus
            • 12.5 Dhanhar Exim Pvt. Ltd.
              • Exhibit 118: Dhanhar Exim Pvt. Ltd. - Overview
              • Exhibit 119: Dhanhar Exim Pvt. Ltd. - Product / Service
              • Exhibit 120: Dhanhar Exim Pvt. Ltd. - Key offerings
            • 12.6 DS Group
              • Exhibit 121: DS Group - Overview
              • Exhibit 122: DS Group - Product / Service
              • Exhibit 123: DS Group - Key offerings
            • 12.7 EVEREST Food Products Pvt. Ltd.
              • Exhibit 124: EVEREST Food Products Pvt. Ltd. - Overview
              • Exhibit 125: EVEREST Food Products Pvt. Ltd. - Product / Service
              • Exhibit 126: EVEREST Food Products Pvt. Ltd. - Key offerings
            • 12.8 G P And Co.
              • Exhibit 127: G P And Co. - Overview
              • Exhibit 128: G P And Co. - Product / Service
              • Exhibit 129: G P And Co. - Key offerings
            • 12.9 HingWala
              • Exhibit 130: HingWala - Overview
              • Exhibit 131: HingWala - Product / Service
              • Exhibit 132: HingWala - Key offerings
            • 12.10 Laljee Godhoo
              • Exhibit 133: Laljee Godhoo - Overview
              • Exhibit 134: Laljee Godhoo - Product / Service
              • Exhibit 135: Laljee Godhoo - Key offerings
            • 12.11 Mahashian Di Hatti Pvt. Ltd.
              • Exhibit 136: Mahashian Di Hatti Pvt. Ltd. - Overview
              • Exhibit 137: Mahashian Di Hatti Pvt. Ltd. - Product / Service
              • Exhibit 138: Mahashian Di Hatti Pvt. Ltd. - Key offerings
            • 12.12 Medikonda Nutrients
              • Exhibit 139: Medikonda Nutrients - Overview
              • Exhibit 140: Medikonda Nutrients - Product / Service
              • Exhibit 141: Medikonda Nutrients - Key offerings
            • 12.13 MTR Foods Pvt. Ltd.
              • Exhibit 142: MTR Foods Pvt. Ltd. - Overview
              • Exhibit 143: MTR Foods Pvt. Ltd. - Product / Service
              • Exhibit 144: MTR Foods Pvt. Ltd. - Key offerings
            • 12.14 Patanjali Ayurved Ltd.
              • Exhibit 145: Patanjali Ayurved Ltd. - Overview
              • Exhibit 146: Patanjali Ayurved Ltd. - Product / Service
              • Exhibit 147: Patanjali Ayurved Ltd. - Key offerings
            • 12.15 Simhas Spices and Herbals
              • Exhibit 148: Simhas Spices and Herbals - Overview
              • Exhibit 149: Simhas Spices and Herbals - Product / Service
              • Exhibit 150: Simhas Spices and Herbals - Key offerings
            • 12.16 Tata Sons Pvt. Ltd.
              • Exhibit 151: Tata Sons Pvt. Ltd. - Overview
              • Exhibit 152: Tata Sons Pvt. Ltd. - Business segments
              • Exhibit 153: Tata Sons Pvt. Ltd. - Key offerings
              • Exhibit 154: Tata Sons Pvt. Ltd. - Segment focus
            • 12.17 VKA Food Products
              • Exhibit 155: VKA Food Products - Overview
              • Exhibit 156: VKA Food Products - Product / Service
              • Exhibit 157: VKA Food Products - Key offerings

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 158: Inclusions checklist
                • Exhibit 159: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 160: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 161: Research methodology
                • Exhibit 162: Validation techniques employed for market sizing
                • Exhibit 163: Information sources
              • 13.5 List of abbreviations
                • Exhibit 164: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              INFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases

              DATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts

              REPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape

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              Key Questions Answered

              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?

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