Norway: Spice Market 2024

Spice Market Size in Norway

In 2022, the Norwegian spice market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Spice consumption peaked at $X in 2021, and then reduced in the following year.

Spice Exports

Exports from Norway

Spice exports from Norway skyrocketed to X tons in 2022, jumping by X% on 2021 figures. Over the period under review, exports, however, recorded a drastic downturn. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, spice exports reduced to $X in 2022. Overall, exports, however, recorded a perceptible decrease. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for spice exports from Norway, accounting for a X% share of total exports. Moreover, spice exports to Vietnam exceeded the volume sent to the second major destination, Sweden (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam stood at X.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for spice exported from Norway were Sweden ($X), Vietnam ($X) and Denmark ($X), together comprising X% of total exports.

In terms of the main countries of destination, Vietnam, with a CAGR of X.7%, 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 average spice export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price, however, continues to indicate a mild expansion. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2021, and then shrank rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to the UK ($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 Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into Norway

In 2022, supplies from abroad of spices decreased by X% to X tons, falling for the second year in a row after nine years of growth. Over the period under review, total imports indicated a noticeable 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 decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, spice imports shrank notably 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 in certain years. The growth pace was the most rapid in 2020 with an increase of X%. Imports peaked at $X in 2021, and then dropped significantly in the following year.

Imports by Country

China (X tons), India (X tons) and Brazil (X tons) were the main suppliers of spice imports to Norway, with a combined X% share of total imports. Germany, Vietnam, Indonesia, Spain, Guatemala, the Netherlands, Turkey, Sweden and the UK lagged somewhat behind, together comprising a further X%.

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

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

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers 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, reducing by X% against the previous year. Over the period under review, the import price showed a perceptible slump. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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