Report Update: May 1, 2024

Slovakia - Spices - Market Analysis, Forecast, Size, Trends and Insights

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Spice Price in Slovakia - 2023

Spice Price in Slovakia (CIF) - 2022

The average spice import price stood at $3,756 per ton in 2022, leveling off at the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 27%. As a result, import price reached the peak level of $4,824 per ton. From 2016 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($11,539 per ton), while the price for Albania ($1,371 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Spice Price in Slovakia (FOB) - 2022

In 2022, the average spice export price amounted to $4,829 per ton, with an increase of 2.5% against the previous year. Over the period under review, the export price, however, saw a mild slump. The growth pace was the most rapid in 2015 when the average export price increased by 80% against the previous year. As a result, the export price attained the peak level of $8,756 per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($4,981 per ton), while the average price for exports to Poland ($3,931 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 the Czech Republic (-1.3%), while the prices for the other major destinations experienced a decline.

Spice Imports in Slovakia

For the fourth consecutive year, Slovakia recorded growth in purchases abroad of spices, which increased by 8.2% to 5.1K tons in 2022. The total import volume increased at an average annual rate of +10.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 12% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

In value terms, spice imports rose sharply to $19M in 2022. The total import value increased at an average annual rate of +15.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 34%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Import of Spice in Slovakia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	1.1	1.4	1.4	2.7	34.9%
Czech Republic	1.2	2.8	2.5	2.4	26.0%
Vietnam	1.1	2.5	0.7	2.2	26.0%
Hungary	1.6	2.3	2.4	2.2	11.2%
Germany	0.9	2.1	2.5	2.2	34.7%
Netherlands	0.3	1.3	1.8	1.8	81.7%
Slovenia	N/A	N/A	1.6	1.7	6.3%
Poland	0.9	1.6	1.9	1.3	13.0%
Austria	0.2	1.1	1.0	1.2	81.7%
Lithuania	0.2	0.2	0.1	0.2	0.0%
Albania	0.3	0.2	0.1	0.2	-12.6%
China	0.6	N/A	0.2	N/A	-42.3%
Others	4.2	1.4	1.3	1.2	-34.1%
Total	12.6	16.9	17.6	19.2	15.1%

Top Suppliers of Spice to Slovakia in 2022:

China (undefined tons)
Spain (874.5 tons)
Slovenia (672.2 tons)
Czech Republic (662.9 tons)
Netherlands (508.6 tons)
Germany (496.4 tons)
Hungary (484.3 tons)
Vietnam (395.7 tons)
Poland (312.8 tons)
Austria (214.4 tons)
Lithuania (141.0 tons)
Albania (113.6 tons)

Spice Exports in Slovakia

Spice exports from Slovakia expanded notably to 1.4K tons in 2022, growing by 12% against the previous year's figure. Overall, total exports indicated a prominent increase from 2019 to 2022: its volume increased at an average annual rate of +17.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.7% against 2019 indices. The growth pace was the most rapid in 2020 when exports increased by 25% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, spice exports rose sharply to $6.7M in 2022. Over the period under review, total exports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +62.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 34% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Export of Spice in Slovakia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Czech Republic	3.0	3.5	3.6	4.1	11.0%
Hungary	0.6	1.2	1.6	2.1	51.8%
Poland	0.1	0.5	0.4	0.2	26.0%
Others	0.4	0.3	0.2	0.2	-20.6%
Total	4.1	5.5	5.8	6.7	17.8%

Top Export Markets for Spice from Slovakia in 2022:

Czech Republic (826.5 tons)
Hungary (457.8 tons)
Poland (59.8 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the spice market in Slovakia. 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:

Slovakia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Slovakia
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
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
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023