U.S. - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingU.S. Spice Price Grows Slightly to $4,278 per Ton After Sharp Decline in July
U.S. Spice Import Price per Ton August 2022
In August 2022, the spice price per ton stood at $4,278, with an increase of 4.1% against the previous month. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in April 2022 an increase of 8.6% against the previous month. Over the period under review, average import prices hit record highs at $4.6 per kg in June 2022; however, from July 2022 to August 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($6.2 per kg), while the price for Mexico ($1.6 per kg) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by China (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Spice Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was vanilla ($166 per kg), while the price for ginger ($1.2 per kg) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by nutmeg, mace and cardamom (+4.8%), while the prices for the other products experienced more modest paces of growth.
U.S. Spice Imports
For the fifth month in a row, the United States recorded decline in purchases abroad of spices, which decreased by -2.5% to 39K tons in August 2022. Overall, imports saw a slight slump. The growth pace was the most rapid in March 2022 when imports increased by 25% m-o-m. As a result, imports reached the peak of 47K tons. From April 2022 to August 2022, the growth of imports remained at a somewhat lower figure.
In value terms, spice imports reached $167M (IndexBox estimates) in August 2022. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2022 with an increase of 24% month-to-month. Over the period under review, imports hit record highs at $204M in April 2022; however, from May 2022 to August 2022, imports stood at a somewhat lower figure.
U.S. Spice Imports by Type
Pimenta pepper (13K tons), piper pepper (8.6K tons) and ginger (7.9K tons) were the main products of spice imports to the United States, together comprising 74% of total imports. Spices except pepper or ginger, anise, badian, fennel and coriander, cinnamon (canella), nutmeg, mace and cardamoms, cloves and vanilla lagged somewhat behind, together accounting for a further 26%.
From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by clove (with a CAGR of +7.4%), while imports for the other products experienced mixed trend patterns.
In value terms, the most traded types of spices in the United States were piper pepper ($43M), pimenta pepper ($36M) and vanilla ($30M), with a combined 65% share of total imports. Spices except pepper or ginger, cinnamon (canella), ginger, anise, badian, fennel and coriander, nutmeg, mace and cardamoms and cloves lagged somewhat behind, together accounting for a further 35%.
U.S. Spice Imports by Country
Vietnam (7.8K tons), India (6.5K tons) and China (6K tons) were the main suppliers of spice imports to the United States, with a combined 52% share of total imports.
From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +4.2%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Vietnam ($39M), India ($23M) and Indonesia ($13M) appeared to be the largest spice suppliers to the United States, together accounting for 45% of total imports. These countries were followed by China, Spain, Peru, Mexico and Brazil, which together accounted for a further 25%.
In terms of the main suppliers, Brazil, with a CAGR of +4.6%, saw 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.
This report provides an in-depth analysis of the spice market in the U.S.. 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:
- United States
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the U.S.
- 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:
- 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
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- 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 -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- 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
- 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 Of Origin, 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, By Country Of Destination, 2012–2023
