Report Latin America and the Caribbean - Spices - Market Analysis, Forecast, Size, Trends and Insights for 499$
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Latin America and the Caribbean - Spices - Market Analysis, Forecast, Size, Trends and Insights
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Latin America and the Caribbean: Spice Market 2022

Spice Market Size in Latin America and the Caribbean

The Latin American spice market reduced slightly to $X in 2021, remaining relatively unchanged against the previous year. The market 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 level of consumption peaked at $X in 2020, and then reduced slightly in the following year.

Spice Production in Latin America and the Caribbean

In value terms, spice production fell to $X in 2021 estimated in export price. The total production indicated a buoyant increase from 2012 to 2021: its value 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, production increased by +X% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

The countries with the highest volumes of production in 2021 were Mexico (X tons), Brazil (X tons) and Peru (X tons), together comprising X% of total production. These countries were followed by Guatemala, Guyana, Colombia and Jamaica, which together accounted for a further X 2012 to 2021, the biggest increases were in Guyana (with a CAGR of +X%), while production for the other leaders experienced more modest paces of growth.

In 2021, the average spice yield in Latin America and the Caribbean shrank slightly to X tons per ha, dropping by -X% against the year before. The yield figure 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 pace of growth appeared the most rapid in 2017 when the yield increased by X% against the previous year. The level of yield peaked at X tons per ha in 2020, and then dropped slightly 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.

In 2021, the spice harvested area in Latin America and the Caribbean stood at X ha, remaining constant against the year before. The harvested area 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 in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of harvested area peaked in 2021 and is likely to see steady growth in the near future.

Spice Exports

Exports in Latin America and the Caribbean

In 2021, after nine years of growth, there was decline in shipments abroad of spices, when their volume decreased by -X% to X tons. Total exports indicated a resilient 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 2012 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, spice exports expanded remarkably to $X in 2021. Total exports indicated a strong expansion from 2012 to 2021: its value 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, exports increased by +X% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of X%. The level of export peaked in 2021 and is expected to retain growth in years to come.

Exports by Country

In 2021, Brazil (X tons) and Peru (X tons) were the largest exporters of spices in Latin America and the Caribbean, together finishing at approx. X% of total exports. Mexico (X tons) held the next position in the ranking, followed by Guatemala (X tons). All these countries together held near X% share of total exports. The following exporters - Colombia (X tons), Costa Rica (X tons) and Argentina (X tons) - each resulted at a X% share of total exports.

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

In value terms, Guatemala ($X), Brazil ($X) and Peru ($X) were the countries with the highest levels of exports in 2021, with a combined X% share of total exports.

Guatemala, 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 Latin America and the Caribbean amounted to $X per ton, growing by X% against the previous year. Over the last nine-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably countryorigin: the country with the highest price was Guatemala ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Latin America and the Caribbean

In 2021, the amount of spices imported in Latin America and the Caribbean fell slightly to X tons, waning by -X% against the year before. The total import volume increased at an average annual rate of +X% 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 2015 with an increase of X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, spice imports rose notably to $X in 2021. The total import 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 in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

In 2021, Mexico (X tons) was the main importer of spices, creating X% of total imports. Brazil (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Argentina (X%), Peru (X%) and Chile (X%). Colombia (X tons), Guatemala (X tons), the Dominican Republic (X tons), Curacao (X tons), Ecuador (X tons) and Trinidad and Tobago (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to spice imports into Mexico stood at +X%. At the same time, Argentina (+X%), Chile (+X%), the Dominican Republic (+X%), Guatemala (+X%), Peru (+X%), Ecuador (+X%), Colombia (+X%), Brazil (+X%) and Trinidad and Tobago (+X%) displayed positive paces of growth. Moreover, Argentina emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +X% from 2012-2021. By contrast, Curacao (-X%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Argentina and Chile increased by +X and +X percentage points, respectively. Curacao (-X p.p.) and Mexico (-X p.p.) saw their shares reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported spices in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Brazil ($X), with a X% share of total imports. It was followed by Peru, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mexico stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: Brazil (+X% per year) and Peru (+X% per year).

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, increasing by X% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably countrydestination: the country with the highest price was the Dominican Republic ($X per ton), while Trinidad and Tobago ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for spices in LatAmerica and the Caribbean?
+
Mexico constituted the country with the largest volume of spice consumption, accounting for 42% of total volume. Moreover, spice consumption in Mexico exceeded the figures recorded by the second-largest consumer, Peru, threefold. Brazil ranked third in terms of total consumption with a 10% share.
What are the largest producers of spices in LatAmerica and the Caribbean?
+
The countries with the highest volumes of production in 2021 were Mexico, Brazil and Peru, with a combined 74% share of total production. Guatemala, Guyana, Colombia and Jamaica lagged somewhat behind, together comprising a further 19%.
What are the leading suppliers of spices in LatAmerica and the Caribbean?
+
In value terms, the largest spice supplying countries in Latin America and the Caribbean were Guatemala, Brazil and Peru, together comprising 88% of total exports.
What are the leading importers of spices in LatAmerica and the Caribbean?
+
In value terms, Mexico constitutes the largest market for imported spices in Latin America and the Caribbean, comprising 41% of total imports. The second position in the ranking was held by Brazil, with a 10% share of total imports. It was followed by Peru, with a 7.9% share.
What is the average export price for spices in LatAmerica and the Caribbean?
+
The export price in Latin America and the Caribbean stood at $4,242 per ton in 2021, surging by 11% against the previous year.
What is the average import price for spices in LatAmerica and the Caribbean?
+
In 2021, the import price in Latin America and the Caribbean amounted to $3,739 per ton, with an increase of 9.8% against the previous year.

This report provides an in-depth analysis of the spice market in Latin America and the Caribbean. 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:
• Anguilla
• Antigua and Barbuda
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• British Virgin Islands
• Cayman Islands
• Costa Rica
• Curacao
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Saint Kitts and Nevis
• Saint Lucia
• Saint Maarten (Dutch part)
• Saint Vincent and the Grenadines
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Latin America and the Caribbean, split by region and country
• Trade (exports and imports) in Latin America and the Caribbean
• 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
GLOSSARY AND SPECIFIC TERMS
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 PRODUCTS

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 2012–2021
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 2012–2021
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

• Anguilla
• Antigua and Barbuda
• Argentina
• Aruba
• Bahamas
• Barbados
• Belize
• Bolivia
• Brazil
• British Virgin Islands
• Cayman Islands
• Chile
• Colombia
• Costa Rica
• Cuba
• Curacao
• Dominica
• Dominican Republic
• Ecuador
• El Salvador
• Falkland Islands (Malvinas)
• French Guiana
• Grenada
• Guadeloupe
• Guatemala
• Guyana
• Haiti
• Honduras
• Jamaica
• Martinique
• Mexico
• Montserrat
• Nicaragua
• Panama
• Paraguay
• Peru
• Saint Kitts and Nevis
• Saint Lucia
• Saint Vincent and the Grenadines
• Saint Maarten (Dutch part)
• Suriname
• Trinidad and Tobago
• Turks and Caicos Islands
• United States Virgin Islands
• Uruguay
• Venezuela
• Puerto Rico
LIST OF TABLES
Table 1:
Key Findings In 2021
Table 2:
Market Volume, In Physical Terms, 2012–2021
Table 3:
Market Value, 2012–2021
Table 4:
Per Capita Consumption, By Country, 2015–2021
Table 5:
Production, In Physical Terms, By Country, 2012–2021
Table 6:
Harvested Area, By Country, 2012–2021
Table 7:
Yield, By Country, 2012–2021
Table 8:
Imports, In Physical Terms, By Country, 2012–2021
Table 9:
Imports, In Value Terms, By Country, 2012–2021
Table 10:
Import Prices, By Country Of Destination, 2012–2021
Table 11:
Exports, In Physical Terms, By Country, 2012–2021
Table 12:
Exports, In Value Terms, By Country, 2012–2021
Table 13:
Export Prices, By Country Of Origin, 2012–2021
Table 14:
Producer Prices, By Major Producing Country, 2021
Table 15:
Producer Prices Index - Annual Data (2004-2006=100), By Major Producing Country
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2021
Figure 2:
Market Value, 2012–2021
Figure 3:
Consumption, By Country, 2021
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, 2012–2021
Figure 18:
Production, In Value Terms, 2012–2021
Figure 19:
Area Harvested, 2012–2021
Figure 20:
Yield, 2012–2021
Figure 21:
Production, By Country, 2021
Figure 22:
Production, In Physical Terms, By Country, 2012–2021
Figure 23:
Harvested Area, By Country, 2021
Figure 24:
Harvested Area, By Country, 2012–2021
Figure 25:
Yield, By Country, 2012–2021
Figure 26:
Imports, In Physical Terms, 2012–2021
Figure 27:
Imports, In Value Terms, 2012–2021
Figure 28:
Imports, In Physical Terms, By Country, 2021
Figure 29:
Imports, In Physical Terms, By Country, 2012–2021
Figure 30:
Imports, In Value Terms, By Country, 2012–2021
Figure 31:
Import Prices, By Country, 2012–2021
Figure 32:
Exports, In Physical Terms, 2012–2021
Figure 33:
Exports, In Value Terms, 2012–2021
Figure 34:
Exports, In Physical Terms, By Country, 2021
Figure 35:
Exports, In Physical Terms, By Country, 2012–2021
Figure 36:
Exports, In Value Terms, By Country, 2012–2021
Figure 37:
Export Prices, 2012–2021
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