Article Publishing
Date: Mar 17, 2021
The Spice Market to Be Supported by Rising Household Demand During the Pandemic
IndexBox has just published a new report: 'World - Spices - Market Analysis, Forecast, Size, Trends, and Insights.' Here is a summary of the report's key findings.
The pandemic forced us to change the way we live. People started to eat more at home, which caused some changes in the distribution channels of spices. During the lockdown, the drop in demand from retail was offset by a sharp surge in household demand.
The most exported spices in 2020 were chili pepper (2.6 million tonnes were exported) and caraway (1.53 million tonnes). There were also increases in cardamom exports (up to 369% as compared to 2019) and turmeric (up to 42%). The growing popularity of these spices during the pandemic was associated with a widely held view on their ability to increase human immunity. During the year, there were sharp jumps in the prices of some spices, such as ginger. (IndexBox estimates)
The leading exporter and producer of spices, India increased exports of these products by 19% between April and September 2020 compared to the same period the previous year. in the first 3 quarters of 2020, India exported over 800 thousand tons of spices. The total Indian exports reached over 900 thousand tons in 2020.
Driven by increasing demand for spice worldwide, the market is expected to continue an upward consumption trend over the next decade.
Global Spice Exports to Keep on Growing
For the fourth consecutive year, the global market recorded growth in spices' overseas shipments, which increased by 1% to 3.4M tonnes in 2019. The total export volume increased at an average annual rate of +3.3% over the period from 2012 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations observed in certain years. The pace of growth was the most pronounced in 2014 when exports increased by 14% year-to-year. Over the period under review, global exports hit record highs in 2019 and are likely to see gradual growth in years to come.
In value terms, spice exports contracted to $10.1B (IndexBox estimates) in 2019. The total export value increased at an average annual rate of +4.0% from 2012 to 2019; the trend pattern indicated some noticeable fluctuations recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when exports increased by 18% year-to-year. Global exports peaked at $10.5B in 2018 and then reduced modestly in the following year.
India (905K tonnes) and China (798K tonnes) represented roughly 51% of spices' total exports in 2019. It was distantly followed by Viet Nam (277K tonnes), creating an 8.2% share of total exports. The following exporters - Indonesia (128K tonnes), the Netherlands (109K tonnes), Brazil (106K tonnes), Spain (87K tonnes), Thailand (82K tonnes), Peru (58K tonnes), and Turkey (56K tonnes) - together made up 19% of total exports.
In value terms, India ($1.8B), China ($1.3B), and Viet Nam ($824M) were the countries with the highest levels of exports in 2019, together comprising 39% of global exports. These countries were followed by Indonesia, the Netherlands, Spain, Brazil, Turkey, Peru, and Thailand, which accounted for a further 19%.
Source: IndexBox Platform
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
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 2025.
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
+ 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
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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
2.1
KEY FINDINGS
2.2
MARKET TRENDS
This Chapter is Available Only for the Professional Edition
PRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS
Finding New Products to Diversify Your Business
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
9.1
EXPORTS FROM 2007–2020
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
11. COUNTRY PROFILES
The Largest Markets and Their Profiles
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
LIST OF TABLES
Table 1:
Key Findings in 2020
Table 2:
Market Volume, in Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption, by Country, 2018–2020
Table 5:
Production, in Physical Terms, by Country, 2007–2020
Table 6:
Harvested Area, by Country, 2007-2020
Table 7:
Yield, by Country, 2007-2020
Table 8:
Imports, in Physical Terms, by Country, 2007–2020
Table 9:
Imports, in Value Terms, by Country, 2007–2020
Table 10:
Import Prices, by Country of Destination, 2007–2020
Table 11:
Exports, in Physical Terms, by Country, 2007–2020
Table 12:
Exports, in Value Terms, by Country, 2007–2020
Table 13:
Export Prices, by Country of Origin, 2007–2020
Table 14:
Producer Prices, by Major Producing Country, 2020
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), by Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, in Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Consumption, by Country, 2020
Figure 4:
Market Forecast to 2030
Figure 5:
Products: Market Size and Growth, by Type
Figure 6:
Products: Average Per Capita Consumption, by Type
Figure 7:
Products: Exports and Growth, by Type
Figure 8:
Products: Export Prices and Growth, by Type
Figure 9:
Production Volume and Growth
Figure 10:
Yield and Growth
Figure 11:
Exports and Growth
Figure 12:
Export Prices and Growth
Figure 13:
Market Size and Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports and Growth
Figure 16:
Import Prices
Figure 17:
Production, in Physical Terms, 2007–2020
Figure 18:
Production, in Value Terms, 2007–2020
Figure 19:
Area Harvested, 2007–2020
Figure 20:
Yield, 2007–2020
Figure 21:
Production, by Country, 2020
Figure 22:
Production, in Physical Terms, by Country, 2007–2020
Figure 23:
Harvested Area, by Country, 2020
Figure 24:
Harvested Area, by Country, 2007-2020
Figure 25:
Yield, by Country, 2007-2020
Figure 26:
Imports, in Physical Terms, 2007–2020
Figure 27:
Imports, in Value Terms, 2007–2020
Figure 28:
Imports, in Physical Terms, by Country, 2020
Figure 29:
Imports, in Physical Terms, by Country, 2007–2020
Figure 30:
Imports, in Value Terms, by Country, 2007–2020
Figure 31:
Import Prices, by Country, 2007–2020
Figure 32:
Exports, in Physical Terms, 2007–2020
Figure 33:
Exports, in Value Terms, 2007–2020
Figure 34:
Exports, in Physical Terms, by Country, 2020
Figure 35:
Exports, in Physical Terms, by Country, 2007–2020
Figure 36:
Exports, in Value Terms, by Country, 2007–2020
Figure 37:
Export Prices, 2007–2020
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