Mexico: Market for Spices Except Pepper or Ginger 2024

Market Size for Spices Except Pepper or Ginger in Mexico

In 2022, the Mexican market for spices except pepper or ginger increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption posted significant growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Spices Except Pepper or Ginger in Mexico

In value terms, spices except pepper or ginger production declined slightly to $X in 2022 estimated in export price. In general, production saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Spices except pepper or ginger production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The average yield of spices except pepper or ginger in Mexico was estimated at X tons per ha in 2022, with an increase of X% against the previous year. Over the period under review, the yield saw buoyant growth. The pace of growth was the most pronounced in 2021 when the yield increased by X% against the previous year. The spices except pepper or ginger yield peaked in 2022 and is expected to retain growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of spices except pepper or ginger were harvested in Mexico; therefore, remained relatively stable against the previous year. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the harvested area increased by X% against the previous year. The spices except pepper or ginger harvested area peaked at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Exports of Spices Except Pepper or Ginger

Exports from Mexico

In 2022, overseas shipments of spices except pepper or ginger increased by X% to X tons, rising for the fifth consecutive year after three years of decline. In general, exports posted a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, spices except pepper or ginger exports declined to $X in 2022. Over the period under review, exports saw a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted in the following year.

Exports by Country

The United States (X tons) was the main destination for spices except pepper or ginger exports from Mexico, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at X%.

In value terms, the United States ($X) also remains the key foreign market for spices except pepper or ginger exports from Mexico.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%.

Export Prices by Country

The average export price for spices except pepper or ginger stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the export price, however, posted temperate growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

Imports of Spices Except Pepper or Ginger

Imports into Mexico

In 2022, purchases abroad of spices except pepper or ginger decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Over the period under review, imports, however, continue to indicate resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, spices except pepper or ginger imports soared to $X in 2022. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its value 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, imports decreased by X% against 2020 indices. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of spices except pepper or ginger to Mexico, with a X% share of total imports. Moreover, spices except pepper or ginger imports from India exceeded the figures recorded by the second-largest supplier, Egypt (X tons), threefold. The third position in this ranking was held by the United States (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and the United States (X% per year).

In value terms, the largest spices except pepper or ginger suppliers to Mexico were India ($X), the United States ($X) and Turkey ($X), with a combined X% share of total imports. Spain, Egypt, Peru and Vietnam lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Egypt, with a CAGR of X%, recorded 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

In 2022, the average import price for spices except pepper or ginger amounted to $X per ton, growing by X% against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Spain ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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