Middle East: Spice Market 2024

Spice Market Size in the Middle East

After three years of growth, the Middle Eastern spice market decreased by X% to $X in 2022. The total consumption indicated a prominent 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. The level of consumption peaked at $X in 2021, and then fell in the following year.

Spice Production in the Middle East

In value terms, spice production fell to $X in 2022 estimated in export price. The total production indicated a buoyant 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 2019 indices. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

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 key 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 yield of spices in the Middle East surged to X tons per ha, rising by X% compared with the previous year. The yield indicated buoyant 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 yield increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when the yield increased by X%. The level of yield peaked in 2022 and is likely to see steady growth in the near future. 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, waning by X% on the previous year's figure. The harvested area 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 was the most pronounced in 2016 with an increase of X%. The level of harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Spice Exports

Exports in the Middle East

Spice exports skyrocketed to X tons in 2022, picking up by X% on the year before. Over the period under review, exports recorded a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spice exports surged to $X in 2022. In general, exports saw strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Iran (X tons) represented the major exporter of spices, creating X% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Turkey (X%) and Syrian Arab Republic (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key 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 ($X) emerged as the largest spice supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Iran ($X), with a X% share of total exports. It was followed by Turkey, with a X% share.

In the United Arab Emirates, spice exports 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: Iran (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Spice Imports

Imports in the Middle East

In 2022, after three years of growth, there was significant decline in supplies from abroad of spices, when their volume decreased by X% to X tons. Total imports indicated a moderate 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 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, spice imports dropped to $X in 2022. Total imports indicated a prominent 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, imports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the largest importers of spices in 2022, recording approx. X% and X% of total imports, respectively. It was distantly followed by Turkey (X tons), Yemen (X tons) and Iran (X tons), together mixing up a X% share of total imports. The following importers - Oman (X tons), Iraq (X tons), Kuwait (X tons), Qatar (X tons), Israel (X tons) and Bahrain (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 leading importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Turkey ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Iran, Kuwait, Yemen, Iraq, Oman, Israel, Qatar and Bahrain lagged somewhat behind, together accounting for a further X%.

Iraq, with a CAGR of X%, recorded 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

In 2022, the import price in the Middle East amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Yemen ($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

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