Eastern Europe: Spice Market 2024

Spice Market Size in Eastern Europe

For the sixth consecutive year, the East European spice market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2022 and is expected to retain growth in the immediate term.

Spice Production in Eastern Europe

In value terms, spice production stood at $X in 2022 estimated in export price. The total production indicated a temperate increase 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Russia (X tons) remains the largest spice producing country in Eastern Europe, comprising approx. X% of total volume. Moreover, spice production in Russia exceeded the figures recorded by the second-largest producer, Romania (X tons), fourfold. Hungary (X tons) ranked third in terms of total production with a X% share.

In Russia, spice production increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Romania (X% per year) and Hungary (X% per year).

In 2022, the average spice yield in Eastern Europe surged to X tons per ha, picking up by X% against the previous year. In general, the yield continues to indicate a relatively flat trend pattern. Over the period under review, the spice yield hit record highs at X tons per ha in 2015; however, from 2016 to 2022, 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.

In 2022, the spice harvested area in Eastern Europe fell to X ha, waning by X% on 2021 figures. The total harvested area indicated temperate growth from 2012 to 2022: its figure 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, spice harvested area increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2019 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to spice production reached the maximum at X ha in 2021, and then shrank in the following year.

Spice Exports

Exports in Eastern Europe

In 2022, overseas shipments of spices decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a strong expansion from 2012 to 2022: its volume 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, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spice exports fell to $X in 2022. Total exports indicated buoyant growth 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, exports increased by X% against 2014 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then dropped in the following year.

Exports by Country

In 2022, Russia (X tons) was the main exporter of spices, committing X% of total exports. It was distantly followed by Bulgaria (X tons), Poland (X tons), Lithuania (X tons) and the Czech Republic (X tons), together constituting a X% share of total exports. The following exporters - Ukraine (X tons) and Romania (X tons) - each finished at a X% share of total exports.

Russia was also the fastest-growing in terms of the spices exports, with a CAGR of X% from 2012 to 2022. At the same time, the Czech Republic (X%), Poland (X%), Lithuania (X%) and Romania (X%) displayed positive paces of growth. By contrast, Bulgaria (X%) and Ukraine (X%) illustrated a downward trend over the same period. While the share of Russia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Romania (X p.p.), Ukraine (X p.p.) and Bulgaria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest spice supplying countries in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), with a combined X% share of total exports.

Among the main exporting countries, Russia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, waning by X% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price 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, spice export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Eastern Europe

In 2022, supplies from abroad of spices increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Total imports indicated a temperate expansion from 2012 to 2022: its volume 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 increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, spice imports reduced modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then fell slightly in the following year.

Imports by Country

Russia (X tons) and Poland (X tons) represented the largest importers of spices in 2022, accounting for approx. X% and X% of total imports, respectively. The Czech Republic (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Romania (X%), Hungary (X%) and Ukraine (X%). The following importers - Bulgaria (X tons) and Latvia (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest spice importing markets in Eastern Europe were Poland ($X), Russia ($X) and the Czech Republic ($X), together comprising X% of total imports. Romania, Hungary, Ukraine, Latvia and Bulgaria lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Latvia, 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

In 2022, the import price in Eastern Europe amounted to $X per ton, reducing by X% against the previous year. In general, the import price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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