China - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSpice Price in China - 2023
Contents:
- Spice Price in China (FOB) - 2022
- Spice Price in China (CIF) - 2022
- Spice Exports in China
- Spice Imports in China
Spice Price in China (FOB) - 2022
The average spice export price stood at $2,040 per ton in 2022, with a decrease of -9.3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. The pace of growth was the most pronounced in 2020 an increase of 20% against the previous year. The export price peaked at $2,249 per ton in 2021, and then declined in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($5,356 per ton), while the average price for exports to Bangladesh ($801 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.
Spice Price in China (CIF) - 2022
In 2022, the average spice import price amounted to $2,683 per ton, with an increase of 8.5% against the previous year. Overall, the import price posted a modest expansion. The pace of growth appeared the most rapid in 2013 an increase of 69% against the previous year. The import price peaked at $6,356 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($4,692 per ton), while the price for Myanmar ($1,010 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+6.1%), while the prices for the other major suppliers experienced a decline.
Spice Exports in China
In 2022, overseas shipments of spices decreased by -5.5% to 745K tons, falling for the second year in a row after two years of growth. Over the period under review, exports continue to indicate a noticeable setback. The pace of growth was the most pronounced in 2020 with an increase of 5.8% against the previous year. As a result, the exports reached the peak of 886K tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, spice exports dropped to $1.5B in 2022. The total export value increased at an average annual rate of +1.3% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 27% against the previous year. As a result, the exports reached the peak of $1.9B. From 2021 to 2022, the growth of the exports failed to regain momentum.
| Export of Spice in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 105 | 201 | 239 | 194 | 22.7% |
| Malaysia | 136 | 234 | 182 | 154 | 4.2% |
| Spain | 121 | 128 | 156 | 149 | 7.2% |
| United States | 132 | 149 | 145 | 132 | 0.0% |
| Japan | 118 | 118 | 135 | 130 | 3.3% |
| Mexico | 62.9 | 46.5 | 67.1 | 69.4 | 3.3% |
| United Arab Emirates | 34.3 | 66.5 | 57.8 | 56.5 | 18.1% |
| Netherlands | 87.0 | 120 | 97.1 | 54.8 | -14.3% |
| Thailand | 54.7 | 61.8 | 76.2 | 43.6 | -7.3% |
| Bangladesh | 75.0 | 59.1 | 40.5 | 39.9 | -19.0% |
| Pakistan | 78.0 | 81.6 | 72.1 | 33.9 | -24.3% |
| Saudi Arabia | 38.7 | 51.2 | 36.3 | 29.8 | -8.3% |
| United Kingdom | 30.1 | 45.0 | 38.2 | 27.1 | -3.4% |
| Others | 390 | 499 | 430 | 403 | 1.1% |
| Total | 1,463 | 1,861 | 1,772 | 1,519 | 1.3% |
Top Export Markets for Spice from China in 2022:
- United States (77.7K tons)
- Malaysia (68.3K tons)
- Spain (63.9K tons)
- United Arab Emirates (57.5K tons)
- Netherlands (50.6K tons)
- Bangladesh (49.9K tons)
- Japan (42.6K tons)
- Vietnam (36.3K tons)
- Saudi Arabia (29.3K tons)
- Mexico (23.0K tons)
- United Kingdom (20.7K tons)
- Pakistan (20.4K tons)
- Thailand (18.1K tons)
Spice Imports in China
In 2022, after three years of growth, there was significant decline in purchases abroad of spices, when their volume decreased by -33.1% to 262K tons. Over the period under review, total imports indicated a temperate increase from 2019 to 2022: its volume increased at an average annual rate of +2.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 27%.
In value terms, spice imports reduced remarkably to $704M in 2022. In general, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 50% against the previous year.
| Import of Spice in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 389 | 521 | 672 | 462 | 5.9% |
| Indonesia | 31.4 | 130 | 179 | 141 | 65.0% |
| Vietnam | 24.3 | 42.5 | 37.4 | 27.2 | 3.8% |
| Myanmar | 24.5 | 6.3 | 6.4 | 26.7 | 2.9% |
| Georgia | 2.9 | 7.4 | 10.2 | 11.6 | 58.7% |
| Others | 21.9 | 36.9 | 64.3 | 35.0 | 16.9% |
| Total | 494 | 744 | 969 | 704 | 12.5% |
Top Suppliers of Spice to China in 2022:
- India (179.8K tons)
- Indonesia (30.1K tons)
- Myanmar (26.4K tons)
- Vietnam (9.1K tons)
- Georgia (8.7K tons)
This report provides an in-depth analysis of the spice market in China. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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
-
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
1756
This report provides an in-depth analysis of the spice market in China.
773
This report provides an in-depth analysis of the piper pepper market in China.
463
This report provides an in-depth analysis of the pimenta pepper market in China.
5019
This report provides an in-depth analysis of the global spice market.
6739
This report provides an in-depth analysis of the global piper pepper market.
897
This report provides an in-depth analysis of the global pimenta pepper market.
1756
This report provides an in-depth analysis of the spice market in China.
773
This report provides an in-depth analysis of the piper pepper market in China.
463
This report provides an in-depth analysis of the pimenta pepper market in China.
5019
This report provides an in-depth analysis of the global spice market.
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During the period from April 2023 to November 2023, the exports of Spice experienced a slight decline. In terms of value, the spice exports dropped significantly to $52M in November 2023.
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In value terms, piper pepper imports declined dramatically to $2.7M in April 2023.
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The price of Pimenta Pepper in June 2023, at $2,997 per ton (FOB, China), remained relatively stable compared to the previous month.
490
Explore the top import markets for spice worldwide, including the United States, India, China, Germany, and the United Arab Emirates. Discover key statistics and market insights from the IndexBox market intelligence platform.
406
The global spice market is forecast to reach a value of $54.1 billion by 2030, growing at a CAGR of around 4.1% during 2022-2030.
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The global spice market is expected to grow at a CAGR of over 3.5% from 2022 to 2025.
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Among leading importers, China, India, and the U.S. saw the highest growth rates of imports over the past decade.
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The lockdown caused a surge in household demand, and the costs of some spices were going through the roof during the pandemic.
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The global spice market amounted to $33.1B in 2019, leveling off at the previous year. This figure reflects the total...
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Driven by increasing demand for pepper worldwide, the market is expected to continue an upward consumption trend over the next seven-year period.
