India Asafoetida (Hing) Market
India asafoetida (hing) imports reached 1.441 thousand tonnes, valued at US$ 187.88 million in 2022-23. India predominantly sources the raw material (dried latex/extract of asafoetida) from Afghanistan, which is then processed...
Report ID: COM-022 | 158 Pages | Status: Upcoming |
India Asafoetida (Hing) Market
Importance of India in the Global Supply of Asafoetida (Hing)
Asafoetida, commonly known as hing, holds a significant place in Indian cuisine and traditional medicine due to its distinct flavor and medicinal properties. The Indian asafoetida market is characterized by a rich history of usage and a strong cultural significance. It is primarily cultivated and processed in regions like Punjab, Kashmir, and Himachal Pradesh. India primarily sources its asafoetida from Afghanistan and Iran. The market is driven by both domestic consumption and international demand, with India being a major exporter of asafoetida to various countries.India plays a crucial role in the global supply chain of asafoetida, being one of the largest producers and exporters of the spice. Its favorable climate conditions and expertise in cultivation contribute to a substantial portion of the world's asafoetida supply.
India Asafoetida (Hing) Production & Demand Trend
India is actively promoting domestic cultivation of asafoetida to reduce dependency on imports. Efforts by government bodies and research institutions in states like Himachal Pradesh, Kashmir, and Punjab aim to develop suitable cultivation techniques and varieties. Financial incentives and subsidies are provided to encourage farmers. Though still in early stages, these efforts show promise in enhancing self-sufficiency in spice production. CIMAP and ICAR are boosting asafoetida cultivation in India through research and development. They're identifying plant varieties, refining agronomic practices, and offering farmer training and support.Based on StatLedger estimations, India demand for compounded asafoetida hovers around 1.80 - 2.20 thousand tonnes of annually.
Market Growth Factors
Several factors drive the growth of the India asafoetida (hing) market, including:    ■ Increasing Demand for Natural Flavors: As consumers increasingly prefer natural and authentic flavors in their food, the demand for asafoetida continues to rise.
    ■ Growing Health Consciousness: Asafoetida is known for its medicinal properties, such as aiding digestion and providing relief from respiratory issues, which has led to its increased consumption.
    ■ Expansion of Export Markets: India's efforts to tap into new export markets have contributed to the growth of the asafoetida industry.
Market Restraints & Challenges
Despite its growth prospects, the India asafoetida market faces certain challenges:    ■ Limited Cultivation Areas: Asafoetida cultivation is restricted to specific regions with suitable climatic conditions, limiting the scope for expansion.
    ■ Price Volatility: Fluctuations in raw material prices and currency exchange rates can impact the profitability of asafoetida producers.
    ■ Quality Control: Maintaining consistent quality standards poses a challenge, particularly with regard to the processing and storage of asafoetida.
    ■ Raw Material Source: Afghanistan's significance as a source of raw materials can indeed impact the entire supply chain. Any disruptions in the supply of raw materials from Afghanistan could lead to shortages and price fluctuations, affecting industries and consumers downstream.
India Asafoetida (Hing) Supply/Value Chain Bottlenecks/Challenges
India's asafoetida (hing) industry faces several bottlenecks within its supply and value chain. One significant challenge lies in the cultivation process itself, with asafoetida plants requiring specific growing conditions and a lengthy maturation period, often taking years to yield usable resin. Furthermore, the limited geographic range for cultivation, primarily in Afghanistan and parts of Iran, exacerbates the supply constraints.Additionally, the extraction and processing of the resin into the final product require specialized knowledge and techniques, with few trained experts available. Transportation infrastructure issues, including poor road conditions and lack of proper storage facilities, further hinder the efficient movement of asafoetida within India and for export.
Lastly, fluctuating demand and price volatility, coupled with the reliance on traditional methods of production, pose ongoing challenges for stakeholders in the asafoetida supply chain, necessitating innovative solutions for sustainable growth and market competitiveness.
Asafoetida Price Setting Power of India
India wields substantial price-setting power in the global asafoetida market owing to its dominant position as a major processor and exporter of the spice. With a significant share of the world's asafoetida supply originating from Indian cultivation, fluctuations in India's production levels directly impact global prices. Moreover, the country's strong presence in international trade allows it to influence market dynamics through supply adjustments and pricing strategies.However, India's price-setting power is not absolute and can be influenced by various factors such as demand-supply dynamics, currency fluctuations, and geopolitical developments. Additionally, competition from other asafoetida-producing regions and alternative products may also influence pricing decisions. Overall, India's price-setting power underscores its importance in the global asafoetida market but is subject to a range of internal and external factors that shape pricing outcomes.
Asafoetida (Hing) End-use Industries
Asafoetida is derived from the dried latex exuded from the taproot of various species of Ferula, an herb typically found in mountainous regions. Asafoetida undergoes processing and is marketed in either solid lumps or as a fine powder. The solid form is primarily the pure variant of asafoetida. Commercially, it is offered either in its pure resin state or as compounded asafoetida. Due to its strong flavor, natural asafoetida is not suitable for direct use in cooking. Hence, compounded asafoetida is prepared and made available in a convenient powdered form, ready for immediate use without any additional preparation. The most common commercial type is compounded asafoetida, typically in powder form, composed of 50% asafoetida resin along with rice flour or refined wheat flour (maida).The demand for asafoetida is witnessing an upward trend driven by its increasing use in various end-use industries such as:
    ■ Food and Beverage: Asafoetida is widely used as a flavor enhancer in Indian cuisine and is gaining popularity in international cuisines as well. Asafoetida finds extensive usage in curries, sauces, and pickles in India.
    ■ Pharmaceuticals: The medicinal properties of asafoetida have led to its inclusion in various pharmaceutical products aimed at digestive health and respiratory ailments.
The trend of asafoetida demand is experiencing a notable upswing, buoyed by several factors driving its consumption across various end-use industries. In the food and beverage sector, asafoetida is gaining popularity as a flavor enhancer, particularly in Indian cuisine, and is increasingly being integrated into international dishes to add depth and complexity to flavors. Moreover, the growing awareness of the spice's medicinal properties, such as aiding digestion and respiratory health, is driving demand in the pharmaceutical industry, where it is utilized in various formulations.
Additionally, the expanding use of asafoetida in alternative medicine and wellness products further contributes to its rising demand. As consumers increasingly prioritize natural and holistic approaches to health and wellness, the demand for asafoetida is expected to continue its upward trajectory across diverse end-use industries, reflecting its enduring appeal and versatility.
Asafoetida (Hing) Trade (Export & Import) Trend
In the fiscal year 2022-23, India imported 1.441 thousand tonnes of asafoetida (hing) valued at US$ 187.88 million. Leading importers of Indian asafoetida (hing) include the UAE, Nepal, USA, Malaysia, and Singapore. The Compound Annual Growth Rate (CAGR) for India's imports and exports of asafoetida from 2017-18 to 2022-23 stood at 0.34% and 0.35% respectively.India Asafoetida (Hing) Market Competitive Analysis
The processing of asafoetida involves several stages, including harvesting, extraction, purification, and packaging. Traditional methods are still prevalent in many regions, although there is a growing adoption of modern processing techniques to improve efficiency and quality.Key Companies in India Asafoetida (hing) Market include (Producers/ Processors/ Exporters),
-         ■ Everest Spices
-         ■ MDH Spices
-         ■ Ramdev Food Products Pvt. Ltd.
-         ■ JK Spices & Food Products
-         ■ Catch Foods
-         ■ Eastern Condiments Private Limited
-         ■ Pravin/ Suhana Masale
-         ■ Aachi Spices & Foods Pvt Ltd.
-         ■ Laljee Godhoo & Co.
-         ■ Malligha Asafoetida Company (M.A.C.)
-         ■ Synthite Industries Ltd.
-         ■ Vidya Herbs Pvt. Ltd.
-         ■ Royal Spices
-         ■ Mane Kancor Ingredients
-         ■ Jabs International Pvt Ltd.
-         ■ Plant Lipids (P) Ltd.
Future Outlook
The Indian asafoetida market is poised for continued growth driven by factors such as increasing demand for natural flavors, growing awareness about health benefits, and expansion into new export markets. Efforts are underway in the country to achieve self-reliance in asafoetida production within India and diminish dependency on imports. However, addressing challenges related to cultivation, processing, and quality control will be crucial for sustaining this growth in the long term. Additionally, leveraging technological advancements and innovation in processing techniques can enhance the competitiveness of Indian asafoetida in the global market.Report Coverage
India asafoetida (hing) market report covers historical market data from 2010-2023 and projections to 2030. The report also includes supply & demand and trade (import-export) market analysis. The decision matrix analysis helped in identifying the barriers and their implications on the value chain and different factors of relative significance to the India asafoetida (hing) market are diligently tracked and their impact closely monitored for short, medium, and long-term market cycles. The report's contents cover an analysis of the aspects involved in the asafoetida (hing) market such as the parent market, the evolution of the industry, innovative technologies in the manufacturing process, supply chain, and listing of key exporters.Scope of the Report
Report Attributes | Details |
---|---|
Historical Years | 2010–2022 |
Base Year | 2023 |
Forecast Period | 2024–2030 |
Units | Value (US$ Million) and Volume (Tonnes) |
Report Coverage | Production, Consumption, Export, and Import |
Segments Covered |
|
Geographies Covered | India |
Companies Profiled | The market players include Everest Spices, MDH Spices, Ramdev Food Products Pvt. Ltd., JK Spices & Food Products, Catch Foods, Eastern Condiments Private Limited, Pravin/ Suhana Masale, Aachi Spices & Foods Pvt Ltd., Laljee Godhoo & Co., Malligha Asafoetida Company (M.A.C.), Synthite Industries Ltd., Vidya Herbs Pvt. Ltd., Royal Spices, Mane Kancor Ingredients, Jabs International Pvt Ltd., Plant Lipids (P) Ltd., and Others. |
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Related Reports
-         ■ Afghanistan Asafoetida Market – Trend Analysis & Forecast to 2030
-         ■ UAE Asafoetida Market – Trend Analysis & Forecast to 2030
-         ■ USA Asafoetida Market – Trend Analysis & Forecast to 2030
FAQs:
1. What is the import size of Asafoetida (hing) in India?India imported 1.441 thousand tonnes of Asafoetida (hing) in 2022-23.
2. Who are the major importers Asafoetida (hing) from India?
UAE, Nepal, USA, Malaysia, and Singapore are the largest importer of Asafoetida (hing) and derivatives from India.
Table of Contents: India Asafoetida (Hing) Market – Trend Analysis & Forecast to 2030
1. Executive Summary
2. Introduction
2.1. Objectives & Scope of the Study
2.2. Definitions & Economic Importance
2.3. Research Methodology
2.4. Factors and Decision Matrix Analysis
2.5. Limitations & Challenges
3. Commodity/ Market Overview
3.1. Evolution/ Origin & Geographic Suitability
3.2. Ferula assa-foetida Crop Seasonality
3.3. Processing & Grading
3.4. Regulatory Analysis
4. India Country Profile
5. India Asafoetida (Hing) Market Growth Factors Analysis
5.1. Drivers and Restraints Analysis
5.2. Challenges and Opportunities Analysis
5.3. India Asafoetida (Hing) Industry SWOT Analysis
5.4. India Asafoetida (Hing) Market PESTEL Analysis
5.5. India Asafoetida (Hing) Market Porter's Five Forces analysis
6. India Asafoetida (Hing) Market: Supply Analysis
6.1. India Asafoetida (Ferula assa-foetida) Crop Analysis (Area and Production)
6.2. India Asafoetida Production Trend
7. India Asafoetida (Hing) Market: Demand Analysis
7.1. Domestic Consumption
7.2. Processing
7.3. Export Demand
7.4. Asafoetida Supply Chain Analysis
8. India Asafoetida Market: Trade (Export & Import) Analysis
8.1. India Asafoetida Export Trend Analysis
8.2. Top 10 Export Destinations of India Asafoetida & it’s Derivatives
9. India Asafoetida Market: Price Trend Analysis
9.1. Domestic Price Trend
9.2. Export Price Trend
9.3. Price Seasonality & Price Pattern Analysis
9.4. Price Events Analysis
10. Competitive Analysis
10.1. List of Key Countries Importing Asafoetida from India
10.2. List of Key Companies Exporting & Importing Asafoetida & its Extracts from India
10.3. Company Profiles
10.3.1. Everest Spices
10.3.2. Everest Spices
10.3.3. MDH Spices
10.3.4. Ramdev Food Products Pvt. Ltd.
10.3.5. JK Spices & Food Products
10.3.6. Catch Foods
10.3.7. Eastern Condiments Private Limited
10.3.8. Pravin/ Suhana Masale
10.3.9. Aachi Spices & Foods Pvt Ltd.
10.3.10. Laljee Godhoo & Co.
10.3.11. Malligha Asafoetida Company (M.A.C.)
10.3.12. Synthite Industries Ltd.
10.3.13. Vidya Herbs Pvt. Ltd.
10.3.14. Royal Spices
10.3.15. Mane Kancor Ingredients
10.3.16. Jabs International Pvt Ltd.
10.3.17. Plant Lipids (P) Ltd.
11. Conclusion
12. Appendix
Table 1: India Asafoetida Demand Volume (Tonnes) (2010-2030)
Table 2: India Asafoetida Market, By End-use (Volume) (2015-2025)
Table 3: India Asafoetida Import Trend, by Value (2010-2030)
Table 4: India Asafoetida Import Trend, by Volume (2010-2030)
Table 5: India Asafoetida Import Origins by Volume (in %share) (2015-2023)
Table 6: India Asafoetida Import Origins by Value (in %share) (2015-2023)
Table 7: Top 10 Importers of Asafoetida & Products from India, by Value & Volume
Table 8: Top 10 Exporters of Asafoetida & Products from India, by Value & Volume
Table 9: India Asafoetida Export Trend, by Value (2010-2030)
Table 10: India Asafoetida Export Trend, by Volume (2010-2030)
Table 11: India Asafoetida Export Destinations by Volume (in %share) (2015-2023)
Table 12: India Asafoetida Export Destinations by Value (in %share) (2015-2023)
Table 13: Top 10 Countries Importing Asafoetida from India, by Value
Table 14: Top 10 Countries Importing Asafoetida from India, by Volume
Table 15: India Asafoetida Export Trend, By Type (2010-2030)
Table 16: India Domestic Asafoetida Market Price Trend (2010-2030)
Table 17: India Asafoetida Export Market Price Trend, FoB (2010-2023)
Table 18: USA Asafoetida Import Trend (2010-2023)
Table 19: Bangladesh Asafoetida Import Trend (2010-2023)
Table 20: UAE Asafoetida Import Trend (2010-2023)
Table 21: List of Asafoetida & Products Exporters & Importers
Table 22: India Asafoetida Import Destinations by Value (in %share) (2015-2023)
Table 23: Industry Recent Developments
Table 24: Key Companies involved in Global Asafoetida Trade, Processing, and Supply
Figure 1: Asafoetida Crop Seasonality Trend
Figure 2: India Population Dynamics, 2023
Figure 3: India Spices Production Trend Analysis
Figure 4: India: GDP Annual Growth & Exchange Rate Trend
Figure 5: Global Asafoetida Market – An Overview
Figure 6: Global and India Asafoetida Production Trend Comparison
Figure 7: India Domestic Consumption of Asafoetida, 2015-2030 (Volume)
Figure 8: India Domestic Processing of Asafoetida, 2015-2030 (Volume)
Figure 9: India Asafoetida Supply Channel Framework
Figure 10: Asafoetida Product Variants Available in the Market
Figure 11: Global Asafoetida Production, Volume, 2015-2023
Figure 12: Global Imports of Asafoetida, Value (USD Million), 2015-2023
Figure 16: India Asafoetida Import, Value, 2010-2030
Figure 17: India Asafoetida Import, Volume, 2010-2030
Figure 18: India Asafoetida Import Origins Share (by Volume), 2023
Figure 19: India Asafoetida Import Trend, by Value & Volume, 2010-2030
Figure 16: India Asafoetida Export, Value, 2010-2030
Figure 17: India Asafoetida Export, Volume, 2010-2030
Figure 18: India Asafoetida Export Destinations Share (by Volume), 2023
Figure 19: India Asafoetida Export Trend, by Value & Volume, 2010-2030
Figure 20: Top 10 Countries Importing Asafoetida from India, %share by Value
Figure 21: Top 10 Countries Importing Asafoetida from India, %share by Volume
Figure 22: Iran Imports of Asafoetida, by Value & Volume (2015-2023)
Figure 23: UAE Imports of Asafoetida, by Value & Volume (2015-2023)
Figure 24: Bangladesh Imports of Asafoetida, by Value & Volume (2015-2023)
Figure 25: USA Imports of Asafoetida, by Value & Volume (2015-2023)
Figure 26: Morocco Imports of Asafoetida, by Value & Volume (2015-2023)
Figure 27: India Asafoetida Price Trend, Annual Average Prices, 2015-2030
Figure 28: India Price Trend, Monthly Average Prices, 2015-2023
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