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Summary and extracts
1 Market overview
1.1 Definition and presentation
Spices are substances that are used to season culinary preparations by adding a particular flavor and aroma to them. Spices can be found in many different forms: fruits, bulbs, flowers, leaves, bark or seeds. Among the most widely consumed types of spices in the world are pepper, various herbs and blends.
The world market for spices is growing rapidly and individuals are incorporating more and more spices into their cooking, especially because they are recognized for their benefits and for adding a particular flavor to the dish. Food manufacturers are also increasingly using spices to enhance the flavor of the products they sell. Global spice production is highly concentrated; the Asia-Pacific region accounts for more than three-quarters of world production, ahead of North America and Africa. In terms of consumption, India tops the list with more than a third of world consumption, well ahead of Indonesia and Bangladesh.
In Spain, the domestic use of spices is on an upward trend. The popularization of exotic cooking styles, especially among young people, is supporting the increase in spice purchases in supermarkets. In 2020, increased time spent at home and the closure of out-of-home outlets led to a 17% increase in volume and a 20% increase in value of spice sales in supermarkets. However, the emergence of covid-19 greatly affected sales to restaurants and hotels, which had their activity paralyzed for part of the last two years. The return to normality at the beginning of 2022 has, however, meant the recovery of this customer market and the outlook is positive for the Spanish market.
1.2 World market
The global spice market is expected to grow by *.*% annually until ****, reaching a market size of US$*.* billion. This growth is explained by consumers' search for new flavors and authenticity.
spice sales growth World, ****-****, billions of dollars Source: ****
The pepper segment accounted for **% of this market's revenue in ****. However, other ...
1.3 Spanish market
The INE data combine the turnover of the spices market with that of sauces and other condiments of NACE code ****. This is therefore a high estimate of the size of the spice manufacturing market.
evolution of spices turnover Spain, ****-****, million euros Source: ****
1.4 Foreign trade
Data on world trade in spices with the notable exception of pepper are collected on the UN Comtrade website under HS code ****: "Ginger, saffron, turmeric, turmeric, thyme, berries, curry and other spices."
Spanish spice exports generated $*** million in ****. The main buyers are Western countries, such as the United States (***).
Destination of ...
1.5 Effects of Covid-19
As a consequence of the Covid-** pandemic, the eating habits of Spaniards changed. Much of out-of-home consumption has shifted to home consumption, giving a boost to essential products for the family kitchen. This is especially true in the spices, herbs and other seasonings segment, which experienced a one-year value increase of ...
2 Demand analysis
2.1 Internal consumption
Domestic consumption of condiments and spices was *,*** tons or *** million euros. This represents a deceleration of -*.*% in volume and -*.*% in value compared to ****. It should be noted that Spanish households spend an average of *.**% of their food and beverage budget on spices.
Source: ****
As mentioned above, Spaniards are consuming ...
2.2 Use of spices in industry
The use of spices is not limited to the restaurant and food sectors. In fact, spices are used on a large scale in Spain:
By the food industry, especially industrial chocolate makers (***); By the cosmetics industry, especially during the industrial production process of perfumes and other care products; By private individuals ...
3 Market structure
3.1 Corporate structure
The spice industry in Spain is highly fragmented. There are only ** companies with a turnover of more than two million euros per year. Competition is fierce and investments are difficult to make. The industry leader produces **,*** tons of spices, with sales of ** million euros.
Production and sales of the main spice ...
3.2 Employment and business
In ****, the number of companies for NACE code **** was ***, compared to *** in ****, a decrease of -**%.
evolution of the number of companies in the spices and seasonings market Spain, ****-****, units Source: ****
On the other hand, gross operating surplus (***) increased by +*.*% in the period, reaching €*** million in ****.
eBITDA evolution of the ...
3.3 Protected designations of origin
In Spain, four spices have Protected Designation of Origin (***), registered in the official EU register. The cochineal from the Canary Islands is the most recent, hence the lack of information.
Source: ****
3.4 Phases of production
Broadly speaking, the production and marketing of spices involves four different stages: cultivation, processing, blending and branding:
Cultivation of spices: the cultivation of spices can be complicated due to the specificities of each spice produced. In fact, depending on the type of spice, techniques and climatic requirements may vary. Processing: The ...
4 Offer analysis
4.1 Production by product type
The supply of Spanish spices is very varied. It is dominated by paprika and pepper, which represent *** and *** tons respectively. saffron , with **.* tons produced, is more discreet, but generates a high turnover (***).
Spice supply by volume and value produced Spain, ****, tons and millions of euros Source: ****
4.2 Average consumer prices
Below are the prices applied by Todo Especias online store. The prices per gram decrease significantly with the quantity ordered. It is also interesting for the consumer to buy the products in bulk.
Source: ****
4.3 World price volatility
Vanilla is considered the most expensive spice in the world, second only to saffron. In fact, a kilo of vanilla costs an average of *** euros, far behind saffron which can be worth tens of thousands of euros, but far ahead of other spices such as cumin, pepper and others whose price ...
5 Regulation
5.1 Regulatory framework for the production of food flavors and spices
Flavorings are subject to regulatory harmonization at European level under Regulation EC/****/****. Regulation (***) No ****/**** lays down the conditions of use of flavourings. This regulation also specifies the prohibited flavors and substances, the maximum doses that may be used for certain flavors, as well as the labeling rules applicable at European level[***]. ...
6 Stakeholder positioning
6.1 Agent segmentation
- Jesús Navarro SA
- Ramón Sabater SA
- Conservas Dani
- Manufacturas Ceylan
- McCormick
List of charts presented in this market study
- Evolution of spices turnover
- Evolution of spices turnover
- Destination of spice exports
- Origin of spice imports
- Trade balance in the spice market
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