Europe: Spice Market 2024

Spice Market Size in Europe

After five years of growth, the Europe spice market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Over the period under review, the market hit record highs at $X in 2021, and then reduced modestly in the following year.

Spice Production in Europe

In value terms, spice production rose to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of spice production was Russia (X tons), 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.

From 2012 to 2022, the average annual growth rate of volume in Russia amounted to X%. The remaining producing countries recorded the following average annual rates of production growth: Romania (X% per year) and Hungary (X% per year).

The average spice yield soared to X tons per ha in 2022, growing by X% against the previous year. Overall, the yield, however, saw a relatively flat trend pattern. The level of yield peaked at X tons per ha in 2015; however, from 2016 to 2022, the yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of spices production in Europe reduced modestly to X ha, waning by X% on 2021. The total harvested area indicated a pronounced increase 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%. The level of harvested area peaked at X ha in 2021, and then reduced slightly in the following year.

Spice Exports

Exports in Europe

In 2022, shipments abroad of spices decreased by X% to X tons for the first time since 2018, thus ending a three-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 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then reduced in the following year.

In value terms, spice exports reduced to $X in 2022. The total export 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 throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

The Netherlands (X tons) and Spain (X tons) were the largest exporters of spices in 2022, amounting to approx. X% and X% of total exports, respectively. It was distantly followed by Russia (X tons) and Germany (X tons), together mixing up a X% share of total exports. Italy (X tons), Bulgaria (X tons), France (X tons), Poland (X tons), Belgium (X tons), Austria (X tons) and the UK (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Spain ($X) and Germany ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. France, Austria, Belgium, Poland, Italy, the UK, Russia and Bulgaria lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Russia, with a CAGR of X%, 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 more modest paces of growth.

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price recorded a slight downturn. The growth pace was the most rapid in 2013 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a 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 France ($X per ton), while Russia ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in Europe

After six years of growth, overseas purchases of spices decreased by X% to X tons in 2022. Total imports indicated perceptible growth 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. 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 tons in 2021, and then reduced in the following year.

In value terms, spice imports shrank slightly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then dropped in the following year.

Imports by Country

The Netherlands (X tons), Germany (X tons), Spain (X tons) and the UK (X tons) represented roughly X% of total imports in 2022. Russia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%). The following importers - Poland (X tons), Belgium (X tons), Italy (X tons), Austria (X tons), Sweden (X tons) and the Czech Republic (X tons) - together made up X% of total imports.

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

In value terms, Germany ($X), the Netherlands ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

France, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Europe stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform