Southern Asia: Market for Spices Except Pepper or Ginger 2024

Market Size for Spices Except Pepper or Ginger in Southern Asia

The South Asian market for spices except pepper or ginger reduced slightly to $X in 2023, declining by X% against the previous year. The total consumption 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, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Spices Except Pepper or Ginger in Southern Asia

In value terms, spices except pepper or ginger production reduced slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

The country with the largest volume of spices except pepper or ginger production was India (X tons), comprising approx. X% of total volume. Moreover, spices except pepper or ginger production in India exceeded the figures recorded by the second-largest producer, Bangladesh (X tons), sevenfold.

In India, spices except pepper or ginger production remained relatively stable over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (X% per year) and Pakistan (X% per year).

The average spices except pepper or ginger yield expanded to X tons per ha in 2023, with an increase of X% against 2022. The yield figure increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2018 to 2023, the growth of the spices except pepper or ginger yield failed to regain momentum. 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 declined to X ha in 2023, approximately mirroring 2022. Overall, the harvested area continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the harvested area increased by X%. As a result, the harvested area reached the peak level of X ha. From 2019 to 2023, the growth of the spices except pepper or ginger harvested area failed to regain momentum.

Exports of Spices Except Pepper or Ginger

Exports in Southern Asia

In 2023, the amount of spices except pepper or ginger exported in Southern Asia reached X tons, approximately mirroring 2022 figures. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2023, the growth of the exports failed to regain momentum.

In value terms, spices except pepper or ginger exports dropped slightly to $X in 2023. Total exports indicated a prominent 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 decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

Exports by Country

India dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Pakistan (X tons), achieving a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to spices except pepper or ginger exports from India stood at X%. At the same time, Pakistan (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Pakistan increased by X percentage points.

In value terms, India ($X) remains the largest spices except pepper or ginger supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Pakistan ($X), with a X% share of total exports.

In India, spices except pepper or ginger exports increased at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2023, approximately reflecting the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2016 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat 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 Pakistan ($X per ton), while India amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%).

Imports of Spices Except Pepper or Ginger

Imports in Southern Asia

In 2023, supplies from abroad of spices except pepper or ginger was finally on the rise to reach X tons after two years of decline. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, spices except pepper or ginger imports rose remarkably to $X in 2023. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

India was the major importing country with an import of about X tons, which reached X% of total imports. It was distantly followed by Bangladesh (X tons), Nepal (X tons) and Pakistan (X tons), together making up a X% share of total imports. Sri Lanka (X tons) held a little share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2023. At the same time, Bangladesh (X%), Pakistan (X%) and Nepal (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2023. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. India (X p.p.) and Bangladesh (X p.p.) significantly strengthened its position in terms of the total imports, while Nepal and Sri Lanka saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported spices except pepper or ginger in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total imports. It was followed by Nepal, with a X% share.

From 2012 to 2023, the average annual growth rate of value in India amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (X% per year) and Nepal (X% per year).

Import Prices by Country

In 2023, the import price in Southern Asia amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, showed a slight decrease. The most prominent rate of growth was recorded in 2016 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

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 India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Pakistan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform