Global Spice Market 2025

Spice Market Size

In 2022, the global spice market decreased by X% to $X for the first time since 2011, thus ending a ten-year rising trend. In general, the total consumption indicated temperate 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, consumption increased by X% against 2012 indices. Global consumption peaked at $X in 2021, and then shrank slightly in the following year.

Spice Production

In value terms, spice production totaled $X in 2022 estimated in export price. The total output 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. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, global production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

India (X tons) remains the largest spice producing country worldwide, accounting for X% of total volume. Moreover, spice production in India exceeded the figures recorded by the second-largest producer, China (X tons), sixfold. The third position in this ranking was held by Nigeria (X tons), with a X% share.

In India, spice production increased at an average annual rate of X% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (X% per year) and Nigeria (X% per year).

In 2022, the global average spice yield shrank modestly to X tons per ha, which is down by X% on the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the yield attained the peak level of X tons per ha, and then dropped slightly in the following year. 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 worldwide totaled X ha, flattening at the previous year. 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 in certain years. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The global harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Spice Exports

Exports

After ten years of growth, shipments abroad of spices decreased by X% to X tons in 2022. In general, total exports indicated a buoyant 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, exports increased by X% against 2012 indices. The growth pace was the most rapid in 2017 with an increase of X%. The global exports peaked at X tons in 2021, and then dropped modestly in the following year.

In value terms, spice exports declined to $X in 2022. Overall, total exports 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 most prominent rate of growth was recorded in 2014 when exports increased by X%. Over the period under review, the global exports attained the maximum at $X in 2021, and then fell in the following year.

Exports by Country

In 2022, India (X tons) and China (X tons) represented the largest exporters of spicesin the world, together resulting at approx. X% of total exports. Vietnam (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Iran (X%). The following exporters - the United Arab Emirates (X tons), the Netherlands (X tons), Indonesia (X tons), Brazil (X tons), Thailand (X tons), Spain (X tons) and Peru (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 key exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest spice supplying countries worldwide were India ($X), China ($X) and Vietnam ($X), with a combined X% share of global exports. Indonesia, the Netherlands, the United Arab Emirates, Spain, Brazil, Peru, Iran and Thailand lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average spice export price amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Iran ($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 global leaders experienced more modest paces of growth.

Spice Imports

Imports

In 2022, after ten years of growth, there was significant decline in overseas purchases of spices, when their volume decreased by X% to X tons. Overall, total imports indicated strong growth 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 with an increase of X%. Global imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, spice imports shrank slightly to $X in 2022. In general, total imports indicated prominent 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, imports increased by X% against 2012 indices. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Global imports peaked at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, the United States (X tons), followed by China (X tons), Bangladesh (X tons) and India (X tons) were the key importers of spices, together comprising X% of total imports. The Netherlands (X tons), the United Arab Emirates (X tons), Malaysia (X tons), Germany (X tons), Pakistan (X tons), Saudi Arabia (X tons), Thailand (X tons), Indonesia (X tons) and Japan (X tons) held a little share of total imports.

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

In value terms, the United States ($X) constitutes the largest market for imported spices worldwide, comprising X% of global imports. The second position in the ranking was held by India ($X), with a X% share of global imports. It was followed by China, with a X% share.

In the United States, spice imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: India (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average spice import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Global import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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