Spice Market

Spice market: find new statistics provided by an Ai-driven market research platform. Statistics contain production, companies, consumption, exports, trade, imports, market prices, and market size. There is a breakdown by region, including the Middle East, Latin America, the U.S., Africa, China, the U.K., EU, and Russia. Market dynamics and outlook to 2030 are also provided in the reports.

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Spice - World's Largest Markets

In value terms, India led the market, alone. The second position in the ranking was occupied by Ethiopia. It was followed by Indonesia.

In India, the spice market decreased by an average annual rate of -10.9% over the period from 2018-2020. The remaining consuming countries recorded the following average annual rates of market growth: Ethiopia (-0.3% per year) and Indonesia (-6.2% per year).

Spice Prices

Spice - Top Importers

In value terms, the United States ($1.7B) constitutes the largest market for imported spices worldwide, comprising 15% of global imports. The second position in the ranking was occupied by Germany ($625M), with a 5.3% share of global imports. It was followed by Saudi Arabia, with a 5.3% share.

In the United States, spice imports shrank by an average annual rate of -1.7% over the period from 2018-2020. In the other countries, the average annual rates were as follows: Germany (-2.1% per year) and Saudi Arabia (+26.6% per year).

Spice - Top Exporters

In value terms, the largest spice supplying countries worldwide were India ($2.5B), China ($1.7B) and Vietnam ($955M), with a combined 43% share of global exports. Indonesia, the Netherlands, Spain, Brazil, Peru, Turkey, Iran and Thailand lagged somewhat behind, together accounting for a further 21%.

Peru recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Spice - Market Forecast

Driven by rising demand for spice worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.

Spice - Top Companies

AJINOMOTO CO., INC., McCormick & Company Incorporated, H.J. Heinz Supply Chain Europe B.V., FRUTAROM INDUSTRIES LTD, S&B FOODS INC., HOUSE FOODS CORPORATION, K+s Montana Holdings, LLC, K+s Salt LLC, KIKKOMAN FOOD PRODUCTS COMPANY, Griffith Foods Group Inc., Dongwon Home Food Co., LTD., OLAM VIETNAM LIMITED - DAK NONG FACTORY, Mizkan America Holdings, Inc, IKEDA TOHKA INDUSTRIES CO., LTD., MC FOOD SPECIALTIES INC., JM Swank, LLC, ARIAKE JAPAN CO., LTD., YAMASA CORPORATION, Inner Mongolia Lantai Industrial Co., Ltd., EBARA FOODS INDUSTRY,INC.

Spice - Product Coverage

• HS 0905 - Vanilla
• HS 0906 - Cinnamon and cinnamon-tree flowers
• HS 0907 - Cloves; (whole fruit, cloves and stems)
• HS 0908 - Nutmeg, mace and cardamoms
• HS 0909 - Seeds of anise, badian, fennel, coriander, cumin, caraway or juniper
• HS 091010 - Spices; ginger
• HS 091011 - Spices; ginger, neither crushed nor ground
• HS 091012 - Spices; ginger, crushed or ground
• HS 090411 - Spices; pepper (of the genus piper), neither crushed nor ground
• HS 090412 - Spices; pepper (of the genus piper), crushed or ground
• HS 091010 - Spices; ginger
• HS 091011 - Spices; ginger, neither crushed nor ground
• HS 091012 - Spices; ginger, crushed or ground
• HS 091020 - Spices; saffron
• HS 091030 - Spices; turmeric (curcuma)
• HS 091040 - Herbs; thyme, bay leaves
• HS 091050 - Curry
• HS 091091 - Spices; mixtures of 2 or more products of different headings
• HS 091099 - Spices; n.e.c. in heading no. 0910
• HS 090420 - Spices; fruits of the genus capsicum or pimenta, dried or crushed or ground
• HS 090421 - Spices; fruits of the genus Capsicum or Pimenta, dried, neither crushed nor ground
• HS 090422 - Spices; fruits of the genus Capsicum or Pimenta, crushed or ground

Source: IndexBox Market Intelligence Platform