Report Asia - Spices - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Oct 18, 2022

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

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Asia: Spice Market 2022

Spice Market Size in Asia

The Asian spice market skyrocketed to $X in 2021, growing by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2012 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Spice Production in Asia

In value terms, spice production dropped to $X in 2021 estimated in export price. The total production indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +X% against 2012 indices. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2020, and then fell modestly in the following year.

India (X tons) remains the largest spice producing country in Asia, accounting for X% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, China (X tons), fivefold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume in India stood at +X%. The remaining producing countries recorded the following average annual rates of production growth: China (+X% per year) and Indonesia (+X% per year).

In 2021, the average yield of spices in Asia contracted slightly to X tons per ha, which is down by -X% against 2020. The yield figure increased at an average annual rate of +X% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the yield increased by X%. The level of yield peaked at X tons per ha in 2020, and then dropped modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area expanded slightly to X ha in 2021, rising by X% compared with 2020 figures. The harvested area increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to spice production reached the maximum in 2021 and is expected to retain growth in the immediate term.

Spice Exports

Exports in Asia

In 2021, the amount of spices exported in Asia stood at X tons, leveling off at the previous year. Total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, spice exports rose modestly to $X in 2021. The total export value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. The level of export peaked in 2021 and is likely to continue growth in years to come.

Exports by Country

India (X tons) and China (X tons) were the largest exporters of spices in 2021, resulting at approx. X% and X% of total exports, respectively. Vietnam (X tons) ranks next in terms of the total exports with an X% share, followed by Indonesia (X%). Thailand (X tons), Turkey (X tons), Iran (X tons) and Syrian Arab Republic (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest spice supplying countries in Asia were India ($X), China ($X) and Vietnam ($X), with a combined X% share of total exports. These countries were followed by Indonesia, Turkey, Iran, Thailand and Syrian Arab Republic, which together accounted for a further X, with a CAGR of +X%, saw 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 leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the other leaders experienced more modest paces of growth.

Spice Imports

Imports in Asia

In 2021, spice imports in Asia expanded remarkably to X tons, growing by X% compared with 2020 figures. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2013 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, spice imports totaled $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +X% against 2013 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of spice imports in 2021 were China (X tons), Bangladesh (X tons) and India (X tons), together reaching X% of total import. It was distantly followed by the United Arab Emirates (X tons), Malaysia (X tons), Saudi Arabia (X tons), Thailand (X tons) and Indonesia (X tons), together generating a X% share of total imports. Japan (X tons), Pakistan (X tons), Vietnam (X tons), Sri Lanka (X tons) and Nepal (X tons) took a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest spice importing markets in Asia were China ($X), India ($X) and Saudi Arabia ($X), together comprising X% of total imports.

In terms of the main importing countries, China, with a CAGR of +X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2021, declining by -X% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for spices in Asia?
+
India remains the largest spice consuming country in Asia, accounting for 50% of total volume. Moreover, spice consumption in India exceeded the figures recorded by the second-largest consumer, China, sevenfold. Indonesia ranked third in terms of total consumption with a 6.4% share.
What are the largest producers of spices in Asia?
+
The country with the largest volume of spice production was India, comprising approx. 55% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, China, fivefold. Indonesia ranked third in terms of total production with a 6.2% share.
What are the leading exporters of spices in Asia?
+
In value terms, India, China and Vietnam appeared to be the countries with the highest levels of exports in 2021, together comprising 70% of total exports. These countries were followed by Indonesia, Turkey, Iran, Thailand and Syrian Arab Republic, which together accounted for a further 16%.
What are the leading importers of spices in Asia?
+
In value terms, China, India and Saudi Arabia appeared to be the countries with the highest levels of imports in 2021, together comprising 37% of total imports.
What is the average export price for spices in Asia?
+
The export price in Asia stood at $2,563 per ton in 2021, surging by 2.8% against the previous year.
What is the average import price for spices in Asia?
+
In 2021, the import price in Asia amounted to $2,459 per ton, waning by -3.8% against the previous year.

This report provides an in-depth analysis of the spice market in Asia. 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:
• Afghanistan
• Armenia
• Bahrain
• Bhutan
• Brunei Darussalam
• Cambodia
• Cyprus
• Democratic People's Republic of Korea
• Georgia
• Jordan
• Kyrgyzstan
• Lao People's Democratic Republic
• Lebanon
• Macao SAR
• Maldives
• Mongolia
• Nepal
• Palestine
• Syrian Arab Republic
• Taiwan (Chinese)
• Tajikistan
• Timor-Leste
• Turkmenistan
• Yemen

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Asia, split by region and country
• Trade (exports and imports) in Asia
• 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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
CONSUMPTION BY COUNTRY
3.3
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
7.2
PRODUCTION BY COUNTRY
7.3
HARVESTED AREA AND YIELD BY COUNTRY
8. IMPORTS

The Largest Importers on The Market and How They Succeed

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Exporters on The Market and How They Succeed

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

11. COUNTRY PROFILES

The Largest Markets And Their Profiles

• Afghanistan
• Armenia
• Azerbaijan
• Bahrain
• Bangladesh
• Bhutan
• Brunei Darussalam
• Cambodia
• China
• Hong Kong SAR
• Macao SAR
• Cyprus
• Georgia
• India
• Indonesia
• Iran
• Iraq
• Israel
• Japan
• Jordan
• Kazakhstan
• Kuwait
• Kyrgyzstan
• Lebanon
• Malaysia
• Maldives
• Mongolia
• Myanmar
• Nepal
• Oman
• Pakistan
• Palestine
• Philippines
• Qatar
• Saudi Arabia
• Singapore
• South Korea
• Sri Lanka
• Syrian Arab Republic
• Taiwan (Chinese)
• Tajikistan
• Thailand
• Timor-Leste
• Turkey
• Turkmenistan
• United Arab Emirates
• Uzbekistan
• Vietnam
• Yemen
• Lao People's Democratic Republic
• Democratic People's Republic of Korea
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption, By Country, 2018–2022
Table 5:
Production, In Physical Terms, By Country, 2012–2022
Table 6:
Harvested Area, By Country, 2007-2022
Table 7:
Yield, By Country, 2007-2022
Table 8:
Imports, In Physical Terms, By Country, 2012–2022
Table 9:
Imports, In Value Terms, By Country, 2012–2022
Table 10:
Import Prices, By Country Of Destination, 2012–2022
Table 11:
Exports, In Physical Terms, By Country, 2012–2022
Table 12:
Exports, In Value Terms, By Country, 2012–2022
Table 13:
Export Prices, By Country Of Origin, 2012–2022
Table 14:
Producer Prices, By Major Producing Country, 2022
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Consumption, By Country, 2022
Figure 4:
Market Forecast To 2030
Figure 5:
Products: Market Size And Growth, By Type
Figure 6:
Products: Average Per Capita Consumption, By Type
Figure 7:
Products: Exports And Growth, By Type
Figure 8:
Products: Export Prices And Growth, By Type
Figure 9:
Production Volume And Growth
Figure 10:
Yield And Growth
Figure 11:
Exports And Growth
Figure 12:
Export Prices And Growth
Figure 13:
Market Size And Growth
Figure 14:
Per Capita Consumption
Figure 15:
Imports And Growth
Figure 16:
Import Prices
Figure 17:
Production, In Physical Terms, 2012–2022
Figure 18:
Production, In Value Terms, 2012–2022
Figure 19:
Area Harvested, 2012–2022
Figure 20:
Yield, 2012–2022
Figure 21:
Production, By Country, 2022
Figure 22:
Production, In Physical Terms, By Country, 2012–2022
Figure 23:
Harvested Area, By Country, 2022
Figure 24:
Harvested Area, By Country, 2007-2022
Figure 25:
Yield, By Country, 2007-2022
Figure 26:
Imports, In Physical Terms, 2012–2022
Figure 27:
Imports, In Value Terms, 2012–2022
Figure 28:
Imports, In Physical Terms, By Country, 2022
Figure 29:
Imports, In Physical Terms, By Country, 2012–2022
Figure 30:
Imports, In Value Terms, By Country, 2012–2022
Figure 31:
Import Prices, By Country, 2012–2022
Figure 32:
Exports, In Physical Terms, 2012–2022
Figure 33:
Exports, In Value Terms, 2012–2022
Figure 34:
Exports, In Physical Terms, By Country, 2022
Figure 35:
Exports, In Physical Terms, By Country, 2012–2022
Figure 36:
Exports, In Value Terms, By Country, 2012–2022
Figure 37:
Export Prices, 2012–2022
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