United Kingdom: Spice Market 2025

Spice Market Size in the UK

After two years of growth, the UK spice market decreased by X% to $X in 2022. The market value 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. Spice consumption peaked at $X in 2021, and then fell slightly in the following year.

Spice Exports

Exports from the UK

In 2022, shipments abroad of spices decreased by X% to X tons, falling for the second consecutive year after two years of growth. Overall, exports recorded a slight decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, spice exports contracted rapidly to $X in 2022. In general, total exports indicated mild 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. Based on 2022 figures, exports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Ireland (X tons) and the United States (X tons) were the main destinations of spice exports from the UK, together accounting for X% of total exports. France, Germany, the United Arab Emirates, Poland, Thailand, Italy, Spain, Belgium and Norway lagged somewhat behind, together accounting for a further X%.

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

In value terms, Ireland ($X), the United States ($X) and the Netherlands ($X) were the largest markets for spice exported from the UK worldwide, with a combined X% share of total exports. France, Germany, Poland, the United Arab Emirates, Spain, Italy, Thailand, Belgium and Norway lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Thailand, with a CAGR of X%, 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

In 2022, the average spice export price amounted to $X per ton, increasing 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 2014 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 Norway (X%), while the prices for the other major destinations experienced more modest paces of growth.

Spice Imports

Imports into the UK

In 2022, spice imports into the UK reduced to X tons, which is down by X% compared with the previous year. 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 in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, spice imports reduced modestly 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 being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

China (X tons), India (X tons) and Spain (X tons) were the main suppliers of spice imports to the UK, with a combined X% share of total imports. Vietnam, Turkey, Peru, Indonesia, the Netherlands, Brazil, Pakistan, Germany and France 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 Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

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

Peru, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spice import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average 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 France ($X per ton), while the price for Peru ($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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :