The global spices market shows significant volume concentration in India, leading with 43.51 thousand metric tons in 2023, followed by countries such as Bangladesh and Indonesia with 4.49 and 4.37 thousand metric tons, respectively. Noteworthy positive growth over the past two years is observed in Vietnam, Ethiopia, and Iran among others, indicating expanding spice production capabilities. Conversely, countries like Pakistan, Japan, Myanmar, and United Arab Emirates have experienced slight decreases in their spice volume shares.
Future trends to watch in the global spices market include India's continued dominance and potential shifts in smaller but growing markets such as Iraq, Argentina, and Portugal. Additionally, changes in demand in developed countries such as the United States and European nations could influence global supply chain dynamics. Lastly, the incorporation of technology in agriculture and potential climate-related disruptions are critical factors that might reshape the market landscape.
Top countries in Spices Market Size Volume Share by Country (Thousand Metric Tons)
# | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 India | 43.51 | 2023 | +1.29% | +1% | View data |
2 | 2 Bangladesh | 4.49 | 2023 | 0% | +0.041% | View data |
3 | 3 Indonesia | 4.37 | 2023 | +1.94% | +1.98% | View data |
4 | 4 Thailand | 3.9 | 2023 | +1.45% | +0.43% | View data |
5 | 5 China | 3.88 | 2023 | 0% | 0% | View data |
6 | 6 Vietnam | 3.05 | 2023 | +3.13% | +2.56% | View data |
7 | 7 United States | 2.98 | 2023 | +0.31% | +0.25% | View data |
8 | 8 Pakistan | 2.87 | 2023 | +0.32% | -0.13% | View data |
9 | 9 Ethiopia | 2.74 | 2023 | +3.5% | +2.16% | View data |
10 | 10 Nigeria | 2.38 | 2023 | +0.39% | +0.24% | View data |