World - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingTurmeric Prices
Turmeric is a popular spice that has been used for centuries in various cuisines and traditional medicines. It is derived from the Curcuma longa plant, which is native to South Asia. The demand for turmeric has been increasing globally due to its various health benefits, resulting in fluctuations in its prices.
Factors Affecting Turmeric Prices
Several factors influence the prices of turmeric:
1. Supply and Demand
The primary factor determining turmeric prices is the balance between supply and demand. When the demand for turmeric exceeds the supply, prices tend to rise, and vice versa. The demand can vary due to factors such as changes in consumer preferences, health trends, and increased awareness of its health benefits.
2. Harvest Yield
The annual yield of turmeric depends on various factors like weather conditions, diseases, and pests. Any fluctuations in the yield affect the overall supply and can result in price variations. For instance, if there is a low yield due to unfavorable weather conditions or crop diseases, the prices may rise as the supply becomes limited.
3. Export and Import Policies
Turmeric is not only consumed domestically but also exported to different countries. Government policies related to import and export can impact the prices. Restrictions, duties, and tariffs imposed on turmeric trade can affect its availability and, consequently, its prices.
4. Currency Exchange Rates
Turmeric is bought and sold in different countries, and exchange rates play a vital role in determining its prices. Appreciation or depreciation of the currency can affect the cost of importing or exporting turmeric, ultimately influencing its prices.
Turmeric Price Trends
The prices of turmeric have experienced fluctuations over the years. However, there has been an overall upward trend due to an increase in demand and limited supply. In recent years, the interest in natural remedies and spices with health benefits has surged, contributing to the rising demand for turmeric.
In India, which is the largest producer and consumer of turmeric, the prices have been influenced by various factors like climate change, diseases, and export policies. Additionally, the fluctuation in the Indian rupee exchange rates has also impacted turmeric prices.
In the international market, the prices of turmeric are influenced by the demand from countries like the United States, the United Kingdom, and Germany. These countries have shown increased interest in turmeric due to its antioxidant and anti-inflammatory properties.
It is essential to note that the prices of turmeric can vary based on its form. Turmeric is available as whole turmeric, turmeric powder, and turmeric extracts. Each form has different production processes and may have varying prices based on their application.
Conclusion
The prices of turmeric are influenced by supply and demand dynamics, harvest yields, export and import policies, and currency exchange rates. The increasing global demand for turmeric and its health benefits have contributed to an overall upward trend in prices. However, fluctuations can occur due to various factors like weather conditions, diseases, and government policies. It is important for traders, consumers, and producers to stay updated on these factors to make informed decisions regarding turmeric prices.
This report provides an in-depth analysis of the global spice market. 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:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Company coverage:
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
- CONSUMPTION BY COUNTRY
- 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. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
- HARVESTED AREA AND YIELD BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- 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 -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 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
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Harvested Area, By Country, 2023
- Harvested Area, By Country, 2012-2023
- Yield, By Country, 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, 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, 2012–2023
This report provides an in-depth analysis of the global spice market.
This report provides an in-depth analysis of the global piper pepper market.
This report provides an in-depth analysis of the global pimenta pepper market.
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.
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.
The global spice market is expected to grow at a CAGR of over 3.5% from 2022 to 2025.
Among leading importers, China, India, and the U.S. saw the highest growth rates of imports over the past decade.
The lockdown caused a surge in household demand, and the costs of some spices were going through the roof during the pandemic.
The global spice market amounted to $33.1B in 2019, leveling off at the previous year. This figure reflects the total...
Driven by increasing demand for pepper worldwide, the market is expected to continue an upward consumption trend over the next seven-year period.
Global pepper consumption amounted to X thousand tons in 2015, going down by -X% against the previous year level.
Global pepper imports amounted to X thousand tons in 2015, picking up by +X% against the previous year level.
The global pepper market showed steady growth, rising from X thousand tons in 2007 to X thousand tons in 2015.