China - Spices - Market Analysis, Forecast, Size, Trends and Insights
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View PricingChina's November 2023 Spice Export Plunges to $52M
China Spice Exports
In November 2023, shipments abroad of spices decreased by -20% to 26K tons, falling for the second consecutive month after two months of growth. In general, exports showed a abrupt setback. The pace of growth appeared the most rapid in March 2023 with an increase of 31% month-to-month. As a result, the exports attained the peak of 74K tons. From April 2023 to November 2023, the growth of the exports remained at a somewhat lower figure.
In value terms, spice exports declined significantly to $52M (IndexBox estimates) in November 2023. Over the period under review, exports saw a deep slump. The most prominent rate of growth was recorded in March 2023 when exports increased by 29% month-to-month. As a result, the exports attained the peak of $214M. From April 2023 to November 2023, the growth of the exports remained at a somewhat lower figure.
| COUNTRY | Export Value of Spice in China (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | |
| United States | 9.5 | 11.8 | 13.5 | 14.8 | 18.9 | 19.4 | 17.7 | 18.6 | 15.4 | 11.9 | 17.1 | 11.6 | 5.6 |
| Vietnam | 22.2 | 23.8 | 14.6 | 31.5 | 24.3 | 11.2 | 7.6 | 6.5 | 7.0 | 4.6 | 4.5 | 4.1 | 4.2 |
| Japan | 11.1 | 9.1 | 12.7 | 9.9 | 13.9 | 13.6 | 12.8 | 11.0 | 10.2 | 8.5 | 10.5 | 4.8 | 3.8 |
| Malaysia | 15.3 | 16.2 | 15.4 | 13.4 | 16.2 | 11.1 | 12.7 | 12.9 | 12.5 | 11.6 | 10.8 | 3.2 | 3.4 |
| Bangladesh | 3.5 | 1.6 | 2.1 | 2.2 | 3.5 | 2.0 | 2.4 | 2.1 | 3.9 | 6.6 | 2.3 | 2.7 | 2.0 |
| United Arab Emirates | 5.6 | 5.8 | 7.4 | 5.8 | 13.2 | 7.4 | 6.5 | 8.5 | 11.6 | 16.5 | 15.8 | 5.5 | 0.8 |
| Spain | 12.2 | 16.0 | 20.0 | 16.7 | 18.9 | 19.2 | 19.0 | 16.8 | 13.5 | 8.9 | 5.8 | 0.5 | 0.6 |
| Others | 54.9 | 67.2 | 71.4 | 72.0 | 106 | 91.3 | 71.8 | 75.7 | 86.3 | 114 | 97.5 | 42.8 | 31.6 |
| Total | 134 | 151 | 157 | 166 | 214 | 175 | 150 | 152 | 160 | 182 | 164 | 75.3 | 51.9 |
Exports by Country
Vietnam (3.1K tons), the United States (3K tons) and Malaysia (2.6K tons) were the main destinations of spice exports from China, with a combined 33% share of total exports.
From November 2022 to November 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of -1.5%), while the other leaders experienced a decline.
In value terms, the largest markets for spice exported from China were the United States ($5.6M), Vietnam ($4.2M) and Japan ($3.8M), with a combined 26% share of total exports.
Among the main countries of destination, the United States, with a CAGR of -4.3%, 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 a decline.
Exports by Type
Ginger (20K tons) was the largest type of spice exported from China, accounting for a 78% share of total exports. Moreover, ginger exceeded the volume of the second product type, cinnamon (canella) (4.3K tons), fivefold. Anise, badian, fennel and coriander (1K tons) ranked third in terms of total exports with a 3.8% share.
From November 2022 to November 2023, the average monthly rate of growth in terms of the volume of export of ginger amounted to -2.8%. With regard to the other exported products, the following average monthly rates of growth were recorded: cinnamon (canella) (-3.3% per month) and anise, badian, fennel and coriander (+1.3% per month).
In value terms, ginger ($33M) remains the largest type of spice exported from China, comprising 64% of total exports. The second position in the ranking was held by cinnamon (canella) ($11M), with a 21% share of total exports. It was followed by anise, badian, fennel and coriander, with an 11% share.
From November 2022 to November 2023, the average monthly rate of growth in terms of the export volume of ginger was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: cinnamon (canella) (-7.7% per month) and anise, badian, fennel and coriander (-0.3% per month).
Export Prices by Country
In November 2023, the spice price stood at $1,993 per ton (FOB, China), reducing by -13.7% against the previous month. Over the period under review, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 11% m-o-m. Over the period under review, the average export prices attained the maximum at $3,268 per ton in August 2023; however, from September 2023 to November 2023, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In November 2023, the country with the highest price was Pakistan ($2,910 per ton), while the average price for exports to Malaysia ($1,281 per ton) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the spice market in China. 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:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in China
- 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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
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8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012-2024
- Imports, In Value Terms, By Country, 2012-2024
- Import Prices, By Country, 2012-2024
- Exports, In Physical Terms, By Country, 2012-2024
- Exports, In Value Terms, By Country, 2012-2024
- Exports Prices, By Country, 2012-2024
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LIST OF FIGURES
- Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, by Product
- Average Per Capita Consumption, by Product
- Exports and Growth, by Product
- Export Prices and Growth, by Product
- Production Volume and Growth
- Yield and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Harvested Area: Historical Data (2012–2024) and Forecast (2025–2035)
- Yield: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms, by Country, 2024
- Imports, in Physical Terms, by Country, 2012-2024
- Imports, in Value Terms, by Country, 2012-2024
- Import Prices, by Country, 2012-2024
- Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Physical Terms, by Country, 2024
- Exports, in Physical Terms, by Country, 2012-2024
- Exports, in Value Terms, by Country, 2012-2024
- Export Prices, by Country, 2012-2024
