South-Eastern Asia: Market for Spices Except Pepper or Ginger 2024

Market Size for Spices Except Pepper or Ginger in South-Eastern Asia

The Southeast Asian market for spices except pepper or ginger was estimated at $X in 2023, picking up by X% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Production of Spices Except Pepper or Ginger in South-Eastern Asia

In value terms, spices except pepper or ginger production contracted to $X in 2023 estimated in export price. The total production indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

The country with the largest volume of spices except pepper or ginger production was Indonesia (X tons), comprising approx. X% of total volume. Moreover, spices except pepper or ginger production in Indonesia exceeded the figures recorded by the second-largest producer, Myanmar (X tons), ninefold. The third position in this ranking was taken by Vietnam (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume in Indonesia totaled X%. The remaining producing countries recorded the following average annual rates of production growth: Myanmar (X% per year) and Vietnam (X% per year).

In 2023, the average spices except pepper or ginger yield in South-Eastern Asia fell slightly to X tons per ha, remaining constant against 2022 figures. Over the period under review, the yield showed a mild reduction. The pace of growth appeared the most rapid in 2018 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2013; however, from 2014 to 2023, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spices except pepper or ginger harvested area contracted modestly to X ha in 2023, declining by X% compared with the previous year's figure. Overall, the harvested area, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2017 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to spices except pepper or ginger production attained the peak figure at X ha in 2019; however, from 2020 to 2023, the harvested area stood at a somewhat lower figure.

Exports of Spices Except Pepper or Ginger

Exports in South-Eastern Asia

Spices except pepper or ginger exports dropped to X tons in 2023, shrinking by X% on 2022. Total exports indicated a resilient increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

In value terms, spices except pepper or ginger exports amounted to $X in 2023. Total exports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

In 2023, Myanmar (X tons), distantly followed by Indonesia (X tons), Thailand (X tons), Malaysia (X tons) and Vietnam (X tons) represented the major exporters of spices except pepper or ginger, together constituting X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest spices except pepper or ginger supplying countries in South-Eastern Asia were Malaysia ($X), Thailand ($X) and Vietnam ($X), together accounting for X% of total exports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the export price, however, recorded a noticeable contraction. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Spices Except Pepper or Ginger

Imports in South-Eastern Asia

In 2023, the amount of spices except pepper or ginger imported in South-Eastern Asia surged to X tons, rising by X% on the previous year. In general, imports showed a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, spices except pepper or ginger imports expanded significantly to $X in 2023. Over the period under review, imports recorded a measured expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Malaysia was the largest importing country with an import of about X tons, which reached X% of total imports. Singapore (X tons) took the second position in the ranking, followed by Indonesia (X tons) and Thailand (X tons). All these countries together took approx. X% share of total imports. The following importers - Myanmar (X tons), the Philippines (X tons) and Vietnam (X tons) - each reached a X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to spices except pepper or ginger imports into Malaysia stood at X%. At the same time, Vietnam (X%), Thailand (X%) and Indonesia (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2023. Singapore and the Philippines experienced a relatively flat trend pattern. By contrast, Myanmar (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Malaysia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), Singapore ($X) and Thailand ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Indonesia, the Philippines, Vietnam and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Vietnam, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price recorded a perceptible slump. The pace of growth was the most pronounced in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the Philippines ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform