MENA: Spice Market 2024

Spice Market Size in MENA

In 2022, the MENA's spice market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. The total consumption indicated a prominent increase 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. Over the period under review, the market reached the peak level at $X in 2021, and then dropped modestly in the following year.

Spice Production in MENA

In value terms, spice production skyrocketed to $X in 2022 estimated in export price. The total production indicated a strong increase 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, production increased by X% against 2012 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

The countries with the highest volumes of production in 2022 were Turkey (X tons), Iran (X tons) and Yemen (X tons), together accounting for X% of total production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Turkey (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

The average spice yield skyrocketed to X tons per ha in 2022, increasing by X% against the previous year's figure. The yield indicated a resilient increase from 2012 to 2022: its figure 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, spice yield increased by X% against 2018 indices. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of spices were harvested in MENA; remaining stable against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the harvested area dedicated to spice production attained the maximum at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Spice Exports

Exports in MENA

In 2022, overseas shipments of spices were finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports enjoyed a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, spice exports surged to $X in 2022. Total exports indicated a remarkable increase 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 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Iran (X tons) represented the major exporter of spices, committing X% of total exports. The United Arab Emirates (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%) and Syrian Arab Republic (X%). Tunisia (X tons), Egypt (X tons) and Morocco (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X) emerged as the largest spice supplier in MENA, comprising X% of total exports. The second position in the ranking was taken by Iran ($X), with an X% share of total exports. It was followed by Turkey, with a X% share.

In the United Arab Emirates, spice exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Iran (X% per year) and Turkey (X% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 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 Egypt ($X per ton), while Iran ($X per ton) was amongst the lowest.

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

Spice Imports

Imports in MENA

After three years of growth, purchases abroad of spices decreased by X% to X tons in 2022. 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 throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, spice imports reduced to $X in 2022. Total imports indicated a prominent 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. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2021, and then declined modestly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the main importers of spices in MENA, together resulting at approx. X% of total imports. It was distantly followed by Turkey (X tons), Morocco (X tons), Yemen (X tons) and Iran (X tons), together generating a X% share of total imports. Egypt (X tons), Oman (X tons), Kuwait (X tons), Iraq (X tons), Algeria (X tons), Libya (X tons) and Qatar (X tons) followed a long way behind the leaders.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Egypt ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Morocco, Turkey, Kuwait, Iran, Yemen, Oman, Iraq, Qatar, Algeria and Libya lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2020; however, from 2021 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 Egypt ($X per ton), while Libya ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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