Spices Except Pepper or Ginger Market

The demand for spices except pepper or ginger is on the rise globally, with an expected CAGR of +2.3% from 2022 to 2030, reaching a market volume of 4.1M tons and a value of $10.7B by the end of 2030. India is the largest consumer and producer of these spices, followed by Ethiopia and Turkey. The United States, Saudi Arabia, India, and China are the largest importers, while India and Iran dominate the export market. Price fluctuations are noted in both imports and exports, with Spain having the highest export price and Myanmar the lowest. Overall, the market for spices except pepper or ginger is forecasted to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for spices except pepper or ginger worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2022 to 2030, which is projected to bring the market volume to 4.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2022 to 2030, which is projected to bring the market value to $10.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Spices Except Pepper or Ginger

In 2022, consumption of spices except pepper or ginger decreased by -1.4% to 3.4M tons for the first time since 2018, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at 3.4M tons in 2021, and then shrank in the following year.

The size of the market for spices except pepper or ginger worldwide reached $7.4B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market attained the maximum level in 2022 and is likely to see steady growth in the immediate term.

Consumption By Country

India (1.3M tons) constituted the country with the largest volume of spices except pepper or ginger consumption, accounting for 38% of total volume. Moreover, spices except pepper or ginger consumption in India exceeded the figures recorded by the second-largest consumer, Ethiopia (306K tons), fourfold. Turkey (252K tons) ranked third in terms of total consumption with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume in India was relatively modest. In the other countries, the average annual rates were as follows: Ethiopia (+5.1% per year) and Turkey (+4.0% per year).

In value terms, India ($1.8B), China ($937M) and Turkey ($729M) appeared to be the countries with the highest levels of market value in 2022, with a combined 47% share of the global market. Bangladesh, Ethiopia, Pakistan, Iran, Yemen and Indonesia lagged somewhat behind, together accounting for a further 28%.

Iran, with a CAGR of +8.9%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of spices except pepper or ginger per capita consumption in 2022 were Turkey (2,949 kg per 1000 persons), Ethiopia (2,531 kg per 1000 persons) and Bangladesh (1,424 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Iran (with a CAGR of +8.8%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Spices Except Pepper or Ginger

For the fourth year in a row, the global market recorded growth in production of spices except pepper or ginger, which increased by 4.6% to 3.6M tons in 2022. The total output volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 9.7% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in years to come. The general positive trend in terms output was largely conditioned by a temperate expansion of the harvested area and modest growth in yield figures.

In value terms, spices except pepper or ginger production totaled $6.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.6% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 17%. Global production peaked at $6.8B in 2020; afterwards, it flattened through to 2022.

Production By Country

India (1.5M tons) constituted the country with the largest volume of spices except pepper or ginger production, accounting for 43% of total volume. Moreover, spices except pepper or ginger production in India exceeded the figures recorded by the second-largest producer, Iran (364K tons), fourfold. Ethiopia (309K tons) ranked third in terms of total production with an 8.6% share.

In India, spices except pepper or ginger production remained relatively stable over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Iran (+9.2% per year) and Ethiopia (+5.1% per year).

Yield

In 2022, the global average spices except pepper or ginger yield rose slightly to 2.5 tons per ha, surging by 1.6% against 2021 figures. The yield figure increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. As a result, the yield reached the peak level of 2.6 tons per ha. From 2018 to 2022, the growth of the average spices except pepper or ginger yield remained at a lower figure.

Harvested Area

In 2022, the global spices except pepper or ginger harvested area rose slightly to 1.5M ha, with an increase of 2.9% against the year before. Overall, the harvested area continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 31%. As a result, the harvested area attained the peak level of 1.6M ha. From 2019 to 2022, the growth of the global spices except pepper or ginger harvested area failed to regain momentum.

Imports

World Imports of Spices Except Pepper or Ginger

In 2022, overseas purchases of spices except pepper or ginger decreased by -3.1% to 691K tons for the first time since 2011, thus ending a ten-year rising trend. Overall, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 when imports increased by 18% against the previous year. Over the period under review, global imports reached the maximum at 713K tons in 2021, and then reduced in the following year.

In value terms, spices except pepper or ginger imports dropped to $2.2B in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 14% against the previous year. Global imports peaked at $2.4B in 2021, and then declined in the following year.

Imports By Country

In 2022, the United States (50K tons), Saudi Arabia (39K tons), India (39K tons), China (38K tons), Bangladesh (33K tons), the Netherlands (30K tons), the United Arab Emirates (30K tons), Germany (28K tons), Nigeria (23K tons), the UK (22K tons), Malaysia (19K tons) and Morocco (16K tons) was the largest importer of spices except pepper or ginger in the world, constituting 53% of total import. Belgium (16K tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +40.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest spices except pepper or ginger importing markets worldwide were the United States ($236M), Saudi Arabia ($179M) and Germany ($116M), with a combined 24% share of global imports. The UK, the United Arab Emirates, the Netherlands, India, Belgium, China, Nigeria, Bangladesh, Malaysia and Morocco lagged somewhat behind, together comprising a further 26%.

Bangladesh, with a CAGR of +33.7%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global 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 $3,149 per ton, which is down by -4.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 9.4% against the previous year. Global import price peaked at $3,627 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($4,752 per ton), while Bangladesh ($1,011 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Spices Except Pepper or Ginger

In 2022, approx. 894K tons of spices except pepper or ginger were exported worldwide; picking up by 26% against the year before. Over the period under review, total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% 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 +68.0% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spices except pepper or ginger exports contracted to $2B in 2022. In general, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when exports increased by 18% against the previous year. The global exports peaked at $2.3B in 2021, and then fell in the following year.

Exports By Country

India (280K tons) and Iran (229K tons) represented roughly 57% of total exports in 2022. It was distantly followed by Turkey (41K tons), comprising a 4.6% share of total exports. The following exporters - the Netherlands (40K tons), Myanmar (30K tons), the United Arab Emirates (23K tons), South Africa (22K tons), Pakistan (18K tons), Spain (14K tons) and Germany (14K tons) - together made up 18% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of +20.2%), while the other global leaders experienced more modest paces of growth.

In value terms, India ($446M) remains the largest spices except pepper or ginger supplier worldwide, comprising 22% of global exports. The second position in the ranking was taken by Iran ($175M), with an 8.7% share of global exports. It was followed by the Netherlands, with a 6.4% share.

In India, spices except pepper or ginger exports increased at an average annual rate of +4.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (+5.2% per year) and the Netherlands (+1.9% per year).

Export Prices By Country

The average export price for spices except pepper or ginger stood at $2,248 per ton in 2022, with a decrease of -28.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 21% against the previous year. The global export price peaked at $3,162 per ton in 2021, and then shrank notably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Spain ($7,770 per ton), while Myanmar ($583 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform