Report Southern Asia - Spices - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Sep 21, 2022

Southern Asia - Spices - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

Pricing Plan

You will receive a PDF copy of the report by email within 24 hours (Mon - Fri).

By clicking «Buy the Report», you agree to our Terms of Service, Privacy Policy and Licenses. We'll occasionally send you account related emails.

Southern Asia: Spice Market 2022

Spice Market Size in Southern Asia

The South Asian spice market soared to $X in 2021, growing by X% against the previous year. Overall, consumption, however, saw a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Spice Production in Southern Asia

In value terms, spice production declined 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 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of production peaked at $X in 2020, and then contracted in the following year.

The country with the largest volume of spice production was India (X tons), accounting for X% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, Bangladesh (X tons), more than tenfold. Nepal (X tons) ranked third in terms of total production with a X% share.

In India, spice production increased at an average annual rate of +X% over the period from 2012-2021. The remaining producing countries recorded the following average annual rates of production growth: Bangladesh (+X% per year) and Nepal (+X% per year).

The average spice yield declined slightly to X tons per ha in 2021, which is down by -X% against the year before. The yield figure increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of yield peaked at X tons per ha in 2018; however, from 2019 to 2021, the yield failed to regain momentum. 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 to X ha in 2021, with an increase of X% on the previous year. The harvested area 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 growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the harvested area dedicated to spice production attained the peak figure in 2021 and is likely to see gradual growth in the immediate term.

Spice Exports

Exports in Southern Asia

In 2021, shipments abroad of spices increased by X% to X tons, rising for the fifth year in a row after two years of decline. Total exports indicated temperate growth 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 2016 indices. The growth pace was the most rapid in 2014 with an increase of 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 surged to $X in 2021. Total exports indicated a buoyant 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, exports increased by +X% against 2013 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

India dominates exports structure, resulting at X tons, which was near X% of total exports in 2021. Sri Lanka (X tons) and Pakistan (X tons) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +X% from 2012 to 2021. At the same time, Sri Lanka (+X%) and Pakistan (+X%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +X% from 2012-2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest spice supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports.

From 2012 to 2021, the average annual growth rate of value in India totaled +X%. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (+X% per year) and Pakistan (+X% per year).

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Sri Lanka ($X per ton), while India ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Southern Asia

For the fifth year in a row, Southern Asia recorded growth in supplies from abroad of spices, which increased by X% to X tons in 2021. Total imports indicated resilient 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 2012 indices. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, spice imports rose to $X in 2021. Over the period under review, imports continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

Imports by Country

Bangladesh (X tons) and India (X tons) represented roughly X% of total imports in 2021. Pakistan (X tons) held the next position in the ranking, followed by Sri Lanka (X tons) and Nepal (X tons). All these countries together took approx. X% share of total imports.

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

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) constituted the countries with the highest levels of imports in 2021, together accounting for X% of total imports.

In terms of the main importing countries, Bangladesh, with a CAGR of +X%, saw the highest growth rate of 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 Southern Asia stood at $X per ton in 2021, shrinking by -X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+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 Southern Asia?
+
The country with the largest volume of spice consumption was India, accounting for 78% of total volume. Moreover, spice consumption in India exceeded the figures recorded by the second-largest consumer, Bangladesh, eightfold. The third position in this ranking was taken by Nepal, with a 6.1% share.
What are the largest producers of spices in Southern Asia?
+
India remains the largest spice producing country in Southern Asia, comprising approx. 85% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, Bangladesh, more than tenfold. Nepal ranked third in terms of total production with a 5.1% share.
What are the leading suppliers of spices in Southern Asia?
+
In value terms, India remains the largest spice supplier in Southern Asia, comprising 79% of total exports. The second position in the ranking was taken by Sri Lanka, with a 13% share of total exports.
What are the leading importers of spices in Southern Asia?
+
In value terms, the largest spice importing markets in Southern Asia were India, Bangladesh and Pakistan, together accounting for 82% of total imports.
What is the average export price for spices in Southern Asia?
+
The export price in Southern Asia stood at $2,500 per ton in 2021, surging by 3% against the previous year.
What is the average import price for spices in Southern Asia?
+
In 2021, the import price in Southern Asia amounted to $1,781 per ton, with a decrease of -9.2% against the previous year.

This report provides an in-depth analysis of the spice market in Southern 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
• Bhutan
• Maldives
• Nepal

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Production in Southern Asia, split by region and country
• Trade (exports and imports) in Southern 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
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

• Afghanistan
• Bangladesh
• Bhutan
• India
• Maldives
• Nepal
• Pakistan
• Sri Lanka
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
Webinar: Decarbonisation and Your Business Strategy - Zero Net Carbon Buildings

Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!



Tuesday, February 22nd, 2022 @ 04:00 pm ET

Webinar: Decarbonisation and Your Business Strategy - Tools and Marketplaces

Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!



Tuesday, February 8th, 2022 @ 04:00 pm ET

Webinar: Decarbonisation and Your Business Strategy - Steps and Practices

Join us in our latest webinar series to get insights from industry experts and engage in a productive discussion!



Tuesday, January 25th, 2022 @ 04:00 pm ET