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China - Spices - Market Analysis, Forecast, Size, Trends and Insights

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Spice Prices in China

China Spice Export Price in September 2022

In September 2022, the spice price amounted to $2,322 per ton (FOB, China), growing by 15% against the previous month. Over the period from January 2022 to September 2022, it increased at an average monthly rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($6,494 per ton), while the average price for exports to Bangladesh ($1,010 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

China Spice Export Prices by Type

There were significant differences in the average prices for the major types of exported product. In September 2022, the product with the highest price was nutmeg, mace and cardamoms ($37.6 per kg), while the average price for exports of ginger ($1,049 per ton) was amongst the lowest.

From January 2022 to September 2022, the most notable rate of growth in terms of prices was recorded for the following types: cinnamon (+7.1%), while the prices for the other products experienced more modest paces of growth.

China Spice Exports

In September 2022, exports of spices from China shrank to 56K tons, flattening at August 2022. Over the period under review, exports continue to indicate a perceptible shrinkage. The pace of growth appeared the most rapid in May 2022 with an increase of 21% against the previous month. Over the period under review, the exports reached the maximum at 83K tons in January 2022; however, from February 2022 to September 2022, the exports failed to regain momentum.

In value terms, spice exports rose notably to $131M (IndexBox estimates) in September 2022. In general, exports continue to indicate a noticeable descent. The most prominent rate of growth was recorded in March 2022 with an increase of 20% against the previous month. The exports peaked at 155K tons in January 2022; however, from February 2022 to September 2022, the exports remained at a lower figure.

China Spice Exports by Type

Ginger (31K tons), pimenta pepper (16K tons) and cinnamon (canella) (7.3K tons) were the main products of spice exports from China, together accounting for 97% of total exports. These products were followed by anise, badian, fennel and coriander, spices except pepper or ginger, piper pepper, cloves and nutmeg, mace and cardamoms, which together accounted for a further 3.2%.

From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by cinnamon (with a CAGR of +3.0%), while the other products experienced more modest paces of growth.

In value terms, pimenta pepper ($47M), cinnamon (canella) ($37M) and ginger ($33M) constituted the most exported types of spices from China worldwide, with a combined 89% share of total exports. These products were followed by anise, badian, fennel and coriander, spices except pepper or ginger, piper pepper, nutmeg, mace and cardamoms and cloves, which together accounted for a further 11%.

Cinnamon, with a CAGR of +10.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

China Spice Exports by Country

The United States (7.2K tons), the United Arab Emirates (5.3K tons) and Malaysia (4.5K tons) were the main destinations of spice exports from China, together comprising 30% of total exports. These countries were followed by Vietnam, Bangladesh, the Netherlands, Japan, Saudi Arabia, Spain, Mexico, Pakistan, the UK and South Korea, which together accounted for a further 45%.

From January 2022 to September 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +6.5%), while the other leaders experienced a decline.

In value terms, Vietnam ($29M) emerged as the key foreign market for spice exports from China, comprising 22% of total exports. The second position in the ranking was held by the United States ($12M), with an 8.9% share of total exports. It was followed by Malaysia, with an 8.8% share.

From January 2022 to September 2022, the average monthly rate of growth in terms of value to Vietnam stood at +13.1%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the United States (-1.0% per month) and Malaysia (-2.2% per month).

Source: IndexBox Market Intelligence Platform

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:

China

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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024