(I-BusinessNews.Com, August 15, 2019 ) According to the latest report by IMARC Group, titled ÂPan Masala Market in India: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024Â, the Indian pan masala market size reached INR 38,886 Crore in 2018. Pan masala is a mixture of areca, slaked lime, cardamom, catechu and some other flavoring agents, and is marketed as a mouth freshener and a digestive aid in India. A wide variety of pan masala is available in the market with different flavors catering to the tastes and preferences of consumers. Some of these variants include ingredients like sugar-coated fennel seeds, cardamom, saffron (Kesar), gulkand (sweet-preserved rose petals) and silver-coated betel nuts. Nowadays, pan masala comes in attractive foil packets (sachets) and tins that can be stored and carried conveniently. Owing to this, it has become popular in urban and rural areas of India, especially among adolescents.
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Indian Pan Masala Market Trends:
The increased awareness regarding the harmful effects of tobacco products has led to a shift in consumersÂ interests toward the consumption of flavored or plain pan masala. Besides this, manufacturers have started offering their products in innovative packaging that is sealed from all corners. This ensures longer shelf life and retains the aromatic fragrance of the product. They have also introduced products in flexible, convenient and cost-efficient packaging, such as pouches or sachets, which can be consumed on-the-go. Apart from this, a large number of market players are focusing on aggressive advertising strategies, including celebrity endorsements, to promote the product and entice consumers to a specific brand or product. Looking forward, the market value is projected to reach INR 66,470 Crore by 2024, growing at a CAGR of 9.33% during 2019-2024.
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Market Breakup by Type:
1. Pan Masala with Tobacco
2. Plain Pan Masala
3. Flavoured Pan Masala
Based on the type, pan masala with tobacco currently represents the most popular type, holding the largest market share. It is followed by plain pan masala, flavored pan masala and others.
Market Breakup by Price:
2. Non Premium
On the basis of the price, the market has been categorized into non-premium and premium categories. At present, the non-premium category accounts for the majority of the overall market share.
Market Breakup by Packaging:
The market has been segregated based on the packaging into pouches, cans and others. Amongst these, pan masala is mostly distributed in pouches.
Market Breakup by State:
1. Uttar Pradesh
4. Madhya Pradesh
State-wise, Uttar Pradesh enjoys the leading position in the market. It is followed by Maharashtra, Madhya Pradesh, Odisha, Jharkhand and others.
The competitive landscape of the market has also been examined with some of the key players being Dharampal Satyapal Limited, Manikchand Group of Companies, Kothari Products Limited and Godfrey Phillips India Limited.
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