MENA: Spice Market 2024

Spice Market Size in MENA

After four years of growth, the MENA's spice market decreased by X% to $X in 2022. The total consumption indicated resilient 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. The level of consumption peaked at $X in 2021, and then declined in the following year.

Spice Production in MENA

In value terms, spice production totaled $X in 2022 estimated in export price. The total production indicated a resilient expansion 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% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Turkey (X tons), Iran (X tons) and Yemen (X tons), with a combined X% share of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Turkey (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

In 2022, the average spice yield in MENA soared to X tons per ha, picking up by X% on 2021. The yield figure 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. The most prominent rate of growth was recorded in 2019 when the yield increased by X%. The level of yield peaked in 2022 and is likely to continue growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The spice harvested area declined to X ha in 2022, therefore, remained relatively stable against 2021. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the harvested area dedicated to spice production reached the peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Spice Exports

Exports in MENA

In 2022, shipments abroad of spices was finally on the rise to reach X tons after four years of decline. Overall, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spice exports skyrocketed to $X in 2022. In general, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iran represented the major exporting country with an export of around X tons, which reached X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%) and Syrian Arab Republic (X%). The following exporters - Tunisia (X tons), Egypt (X tons) and Morocco (X tons) - together made up X% of total exports.

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

In value terms, the United Arab Emirates ($X) emerged as the largest spice supplier in MENA, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with an X% share of total exports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, shrinking by X% against the previous year. Overall, the export price continues to indicate a pronounced decline. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in MENA

In 2022, supplies from abroad of spices decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. The total import volume 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 growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2021, and then fell in the following year.

In value terms, spice imports fell to $X in 2022. Total imports indicated a strong 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. The growth pace was the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the key importers of spices in MENA, together amounting to approx. X% of total imports. Turkey (X tons) ranks next in terms of the total imports with a X% share, followed by Morocco (X%), Yemen (X%) and Iran (X%). The following importers - Egypt (X tons), Oman (X tons), Iraq (X tons), Algeria (X tons), Kuwait (X tons), Libya (X tons) and Qatar (X tons) - together made up X% of total imports.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Egypt ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Morocco, Turkey, Iran, Kuwait, Yemen, Iraq, Oman, Qatar, Algeria and Libya lagged somewhat behind, together comprising a further X%.

Iraq, with a CAGR of X%, saw the highest growth rate of 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 MENA stood at $X per ton in 2022, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the 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 Egypt ($X per ton), while Libya ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform