Italy: Spice Market 2024

Spice Market Size in Italy

The Italian spice market reached $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Spice Production in Italy

In value terms, spice production totaled $X in 2022 estimated in export price. In general, production showed a slight decrease. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Spice production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

The average yield of spices in Italy amounted to less than X kg per ha in 2022, approximately mirroring the previous year. Overall, the yield saw a relatively flat trend pattern. 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 Italy stood at less than X ha, remaining constant against 2021 figures. Over the period under review, the harvested area recorded a relatively flat trend pattern.

Spice Exports

Exports from Italy

After four years of growth, overseas shipments of spices decreased by X% to X tons in 2022. Overall, total exports indicated a remarkable increase 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 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2021, and then reduced modestly in the following year.

In value terms, spice exports dropped slightly to $X in 2022. The total export 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 2014 when exports increased by X%. The exports peaked at $X in 2021, and then contracted slightly in the following year.

Exports by Country

India (X tons) was the main destination for spice exports from Italy, accounting for a X% share of total exports. Moreover, spice exports to India exceeded the volume sent to the second major destination, China (X tons), twofold. Bangladesh (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Bangladesh (X% per year).

In value terms, the largest markets for spice exported from Italy were India ($X), China ($X) and the UK ($X), together comprising X% of total exports. Germany, the Netherlands, France, Spain, Bangladesh, Thailand, Vietnam and Turkey lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Turkey, with a CAGR of X%, saw 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

In 2022, the average spice export price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Italy

In 2022, the amount of spices imported into Italy rose slightly to X tons, with an increase of X% compared with 2021. Over the period under review, total imports indicated a remarkable increase 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 2019 indices. The pace of growth was the most pronounced in 2016 with an increase of X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports amounted 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 remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), China (X tons) and Brazil (X tons) were the main suppliers of spice imports to Italy, with a combined X% share of total imports. India, France, Vietnam, Germany, Spain, Egypt, Indonesia, Iran, Peru and the UK lagged somewhat behind, together accounting for a further X%.

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

In value terms, France ($X), Germany ($X) and Spain ($X) constituted the largest spice suppliers to Italy, with a combined X% share of total imports. Vietnam, the Netherlands, India, Indonesia, China, Brazil, Iran, Egypt, Peru and the UK lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Peru, with a CAGR of X%, recorded the highest rates of growth with regard to 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 average spice import price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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