U.S. - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSpice Price in the United States - 2023
Contents:
- Spice Price in the United States (CIF) - 2022
- Spice Price in the United States (FOB) - 2022
- Spice Imports in the United States
- Spice Exports in the United States
Spice Price in the United States (CIF) - 2022
The average spice import price stood at $3,995 per ton in 2022, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth was the most pronounced in 2014 when the average import price increased by 12%. Over the period under review, average import prices attained the peak figure at $4,619 per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($6,737 per ton), while the price for Mexico ($1,572 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Spice Price in the United States (FOB) - 2022
The average spice export price stood at $4,756 per ton in 2022, surging by 2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2016 when the average export price increased by 8% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($5,824 per ton), while the average price for exports to Thailand ($2,760 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 Japan (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.
Spice Imports in the United States
In 2022, after three years of growth, there was decline in overseas purchases of spices, when their volume decreased by -3.2% to 497K tons. The total import volume increased at an average annual rate of +5.1% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 12%.
In value terms, spice imports rose significantly to $2B in 2022. The total import value increased at an average annual rate of +5.0% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 11%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Spice in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 200 | 203 | 298 | 391 | 25.0% |
| India | 235 | 240 | 312 | 286 | 6.8% |
| Indonesia | 180 | 176 | 181 | 175 | -0.9% |
| China | 180 | 152 | 153 | 153 | -5.3% |
| Spain | 64.4 | 76.3 | 94.5 | 119 | 22.7% |
| Mexico | 87.5 | 93.7 | 102 | 105 | 6.3% |
| Peru | 59.1 | 82.7 | 88.7 | 96.5 | 17.8% |
| Brazil | 37.4 | 56.3 | 54.2 | 39.8 | 2.1% |
| Turkey | 34.4 | 43.0 | 45.0 | 39.7 | 4.9% |
| Others | 640 | 549 | 536 | 581 | -3.2% |
| Total | 1,717 | 1,673 | 1,865 | 1,987 | 5.0% |
Top Suppliers of Spice to the United States in 2022:
- China (92.5K tons)
- Vietnam (78.4K tons)
- India (76.2K tons)
- Mexico (67.0K tons)
- Peru (43.8K tons)
- Spain (27.4K tons)
- Indonesia (25.9K tons)
- Brazil (15.1K tons)
- Turkey (10.6K tons)
Spice Exports in the United States
For the fourth consecutive year, the United States recorded growth in overseas shipments of spices, which increased by 7.6% to 41K tons in 2022. The total export volume increased at an average annual rate of +8.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 12%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.
In value terms, spice exports expanded markedly to $193M in 2022. The total export value increased at an average annual rate of +10.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 17% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Spice in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 62.3 | 68.8 | 78.3 | 86.9 | 11.7% |
| Mexico | 13.7 | 12.4 | 12.6 | 16.0 | 5.3% |
| Saudi Arabia | 2.7 | 12.3 | 10.0 | 13.9 | 72.7% |
| Japan | 3.9 | 3.5 | 4.0 | 4.9 | 7.9% |
| United Kingdom | 5.4 | 6.4 | 3.7 | 3.9 | -10.3% |
| Costa Rica | 4.4 | 1.9 | 2.5 | 3.1 | -11.0% |
| Dominican Republic | 1.9 | 2.5 | 3.6 | 3.1 | 17.7% |
| Bahamas | 1.7 | 2.0 | 2.2 | 2.4 | 12.2% |
| Philippines | 1.0 | 1.4 | 1.1 | 2.3 | 32.0% |
| South Korea | 1.1 | 2.3 | 2.3 | 2.2 | 26.0% |
| Others | 45.2 | 54.9 | 54.8 | 54.3 | 6.3% |
| Total | 143 | 168 | 175 | 193 | 10.5% |
Top Export Markets for Spice from the United States in 2022:
- Canada (20.0K tons)
- Mexico (3.2K tons)
- Saudi Arabia (2.4K tons)
- Japan (0.9K tons)
- Bahamas (0.7K tons)
- Philippines (0.7K tons)
- Dominican Republic (0.7K tons)
- South Korea (0.7K tons)
- Costa Rica (0.6K tons)
- United Kingdom (0.5K tons)
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
-
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
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This report provides an in-depth analysis of the spice market in the U.S..
727
This report provides an in-depth analysis of the piper pepper market in the U.S..
532
This report provides an in-depth analysis of the pimenta pepper market in the U.S..
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.
1419
This report provides an in-depth analysis of the spice market in the U.S..
727
This report provides an in-depth analysis of the piper pepper market in the U.S..
532
This report provides an in-depth analysis of the pimenta pepper market in the U.S..
5019
This report provides an in-depth analysis of the global spice market.
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In August 2022, the spice price per ton stood at $4,278, with an increase of 4.1% against the previous month.
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In Apr 2022, the average import spice price per ton amounted to $4,490, rising by 8.6% against the previous month.
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In November 2022, the piper pepper price amounted to $5,223 per ton (CIF, US), waning by -2% against the previous month.
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In February 2023, the price of pimenta pepper was registered at $2,904 per metric ton, with a 5.5% increase compared to the previous month (CIF, US).
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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...
