Europe: Spice Market 2024

Spice Market Size in Europe

After three years of growth, the Europe spice market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then shrank modestly in the following year.

Spice Production in Europe

In value terms, spice production rose slightly to $X in 2022 estimated in export price. Overall, production, however, showed a pronounced decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Russia (X tons) constituted the country with the largest volume of spice production, comprising approx. X% of total volume. Moreover, spice production in Russia exceeded the figures recorded by the second-largest producer, Romania (X tons), twofold. Hungary (X tons) ranked third in terms of total production with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Russia totaled X%. In the other countries, the average annual rates were as follows: Romania (X% per year) and Hungary (X% per year).

In 2022, the average yield of spices in Europe surged to X tons per ha, picking up by X% on 2021 figures. Over the period under review, the yield recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha. From 2016 to 2022, the growth of the spice yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of spices in Europe fell to X ha, waning by X% compared with 2021 figures. The total harvested area indicated a perceptible increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, spice harvested area increased by X% against 2017 indices. The pace of growth was the most pronounced in 2019 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2021, and then reduced in the following year.

Spice Exports

Exports in Europe

In 2022, overseas shipments of spices increased by X% to X tons, rising for the fourth consecutive year after two years of decline. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2016 when exports increased by X%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, spice exports contracted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

The shipments of the three major exporters of spices, namely the Netherlands, Spain and Russia, represented more than half of total export. It was distantly followed by Germany (X tons), achieving a X% share of total exports. Italy (X tons), Bulgaria (X tons), France (X tons), Poland (X tons), Belgium (X tons), Austria (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. France, Russia, Austria, Belgium, Poland, Italy, the UK and Bulgaria lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Russia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, falling by X% against the previous year. In general, the export price showed a slight decline. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the other leaders experienced more modest paces of growth.

Spice Imports

Imports in Europe

In 2022, purchases abroad of spices decreased by X% to X tons for the first time since 2015, thus ending a six-year rising trend. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2021, and then fell slightly in the following year.

In value terms, spice imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The level of import peaked at $X in 2021, and then declined in the following year.

Imports by Country

The purchases of the four major importers of spices, namely the Netherlands, Germany, Spain and the UK, represented more than half of total import. France (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Russia (X%). Poland (X tons), Belgium (X tons), Austria (X tons), Italy (X tons), Sweden (X tons) and the Czech Republic (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

France, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Europe stood at $X per ton in 2022, remaining relatively unchanged against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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