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World - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGlobal Spice Market 2024
Spice Market Size
The global spice market reached $X in 2023, remaining constant against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2012 indices. Global consumption peaked in 2023 and is expected to retain growth in the near future.
Spice Production
In value terms, spice production dropped to $X in 2023 estimated in export price. The total output value 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 most prominent rate of growth was recorded in 2021 with an increase of X%. Global production peaked at $X in 2022, and then reduced in the following year.
India (X tons) constituted the country with the largest volume of spice production, accounting for X% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, China (X tons), sixfold. The third position in this ranking was taken by Bangladesh (X tons), with a X% share.
In India, spice production expanded at an average annual rate of X% over the period from 2012-2023. The remaining producing countries recorded the following average annual rates of production growth: China (X% per year) and Bangladesh (X% per year).
In 2023, the global average spice yield totaled X tons per ha, flattening at the year before. The yield figure increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha; afterwards, it flattened through to 2023. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The global spice harvested area contracted modestly to X ha in 2023, approximately mirroring the year before. The harvested area 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 2016 when the harvested area increased by X% against the previous year. The global harvested area peaked at X ha in 2022, and then shrank in the following year.
Spice Exports
Exports
In 2023, the amount of spices exported worldwide expanded sharply to X tons, increasing by X% on 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 in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, the global exports reached the peak figure at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.
In value terms, spice exports expanded significantly to $X in 2023. The total export value 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 pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The global exports peaked at $X in 2021; afterwards, it flattened through to 2023.
Exports by Country
In 2023, India (X tons) represented the largest exporter of spices, committing X% of total exports. China (X tons) ranks second in terms of the total exports with a X% share, followed by Vietnam (X%). Indonesia (X tons), Brazil (X tons), the Netherlands (X tons), Nigeria (X tons), Peru (X tons), Turkey (X tons), Spain (X tons), Mexico (X tons), Guatemala (X tons) and Thailand (X tons) held a little share of total exports.
Exports from India increased at an average annual rate of X% from 2012 to 2023. At the same time, Nigeria (X%), Brazil (X%), Mexico (X%), Vietnam (X%), Turkey (X%), Thailand (X%), Guatemala (X%) and Peru (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. The Netherlands, Spain, China and Indonesia experienced a relatively flat trend pattern. While the share of Vietnam (X p.p.) and Brazil (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Indonesia (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, India ($X) remains the largest spice supplier worldwide, comprising X% of global exports. The second position in the ranking was taken by Vietnam ($X), with an X% share of global exports. It was followed by China, with a X% share.
In India, spice exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (X% per year) and China (X% per year).
Export Prices by Country
The average spice export price stood at $X per ton in 2023, with a decrease of X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guatemala ($X per ton), while Nigeria ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the other global leaders experienced more modest paces of growth.
Spice Imports
Imports
In 2023, global imports of spices rose slightly to X tons, picking up by X% against 2022. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2023, the growth of global imports remained at a somewhat lower figure.
In value terms, spice imports rose modestly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, global imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.
Imports by Country
India (X tons) and the United States (X tons) represented roughly X% of total imports in 2023. China (X tons) took the next position in the ranking, followed by Malaysia (X tons), Pakistan (X tons) and Bangladesh (X tons). All these countries together took near X% share of total imports. The following importers - Indonesia (X tons), Japan (X tons), the United Arab Emirates (X tons), the UK (X tons), the Netherlands (X tons), Sri Lanka (X tons) and Germany (X tons) - together made up X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of X%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the largest spice importing markets worldwide were the United States ($X), India ($X) and China ($X), together accounting for X% of global imports.
China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average spice import price amounted to $X per ton, leveling off at the previous year. Overall, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2023, import prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($X per ton), while Pakistan ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other global leaders experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the global spice market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 687 - Pepper
- FCL 689 - Pimento
- FCL 692 - Vanilla
- FCL 693 - Cinnamon (canella)
- FCL 698 - Cloves
- FCL 702 - Nutmeg, mace, cardamoms
- FCL 711 - Anise, badian, fennel
- FCL 720 - Ginger
- FCL 723 - Spices nes
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Yield And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Area Harvested, 2012–2023
- Yield, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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