Northern America: Spice Market 2024

Spice Market Size in Northern America

For the fourth consecutive year, the North American 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% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Spice Production in Northern America

In value terms, spice production stood at $X in 2022 estimated in export price. Overall, production, however, saw a mild increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

The country with the largest volume of spice production was Canada (X tons), accounting for X% of total volume. Moreover, spice production in Canada exceeded the figures recorded by the second-largest producer, the United States (X tons), more than tenfold.

In Canada, spice production remained relatively stable over the period from 2012-2022.

The average spice yield amounted to X kg per ha in 2022, leveling off at the year before. Overall, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, the spice yield hit record highs at X tons per ha in 2017; however, from 2018 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 total area harvested in terms of spices production in Northern America fell modestly to X ha, approximately equating the previous year. In general, the harvested area, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 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 peak figure at X ha in 2019; however, from 2020 to 2022, the harvested area remained at a lower figure.

Spice Exports

Exports in Northern America

In 2022, shipments abroad of spices increased by X% to X tons, rising for the third consecutive year after four years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, spice exports rose significantly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States was the major exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by Canada (X tons), mixing up a X% share of total exports.

The United States was also the fastest-growing in terms of the spices exports, with a CAGR of X% from 2012 to 2022. At the same time, Canada (X%) displayed positive paces of growth. The United States (X p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United States ($X) remains the largest spice supplier in Northern America, comprising X% of total exports. The second position in the ranking was held by Canada ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to X%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the export price increased by X%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Spice Imports

Imports in Northern America

In 2022, supplies from abroad of spices decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. 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 2012 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2021, and then reduced slightly in the following year.

In value terms, spice imports stood at $X in 2022. Total imports 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The United States was the major importing country with an import of about X tons, which finished at X% of total imports. It was distantly followed by Canada (X tons), generating an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to spice imports into the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of X% from 2012-2022. While the share of Canada (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (X p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported spices in Northern America, comprising X% of total imports. The second position in the ranking was held by Canada ($X), with a X% share of total imports.

In the United States, spice imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, with an increase of X% against the previous year. Over the period from 2012 to 2022, 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 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%).

Source: IndexBox Platform

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