According to the latest report by IMARC Group, titled “Pan Masala Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the pan masala market in India size reached INR 43,410.2 Crore in 2022. Looking forward, IMARC Group expects the market to reach INR 53,672.3 Crore by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.
Pan masala is a blend of nuts, seeds, herbs, catechu, and areca nut with slaked lime and other flavoring agents. It is prepared with accurate measurements to maintain a balance of all ingredients while keeping in mind taste and health. It also contains cardamom, saffron, fennel seeds, and cloves combined with sandalwood oil and rose essence to provide a pleasant fragrance. Currently, pan masala is sold in sachets and tin containers to retain the aroma and is primarily served as a mouth freshener to provide a cooling sensation. Globally, the product is witnessing a significant surge in demand due to its affordability and easy availability.
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Indian Pan Masala Market Trends:
The Indian pan masala market is primarily driven by the inflating consumer expenditure power and rising demand for premium and innovative flavored pan masala, such as gulkand, chocolate, sweet-dried rose petals, silver-coated cardamom seeds and betel nuts, and shredded coconut. The easy accessibility of raw materials required for manufacturing pan masala in the county is acting as another growth-inducing factor. In line with this, key market players are introducing sugar-free and herbal pan masala containing vitamin C in high-quality packaging to improve the overall outlook of the product and increase their consumer base, which is creating a positive outlook for the market. Moreover, the rising sales of pan masala and easy product availability in offline and online retail stores are accelerating the market growth.
Indian Pan Masala Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the pan masala market in India has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
Breakup by Type:
- Pan Masala with Tobacco
Breakup by Price:
Breakup by Packaging:
Breakup by Region:
- Uttar Pradesh
- Madhya Pradesh
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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