Enabling fast & safe transactions between buyers & Suppliers of agricultural produce.
This eBook aims to assist companies understand the history, current trends and opportunities in the spice trade.
Boasting a rich history and deep roots to culture, spice trading is a lucrative business which began in the Middle East over 4,000 years ago. The region is still known for being rich in authentic and organic spices. Over time, exploration for spices has led to the emergence of countless spice merchants and trading businesses. Spices such as cumin, cinnamon, pepper, and cloves were, and still are, widely used for cooking purposes. Additionally, medicinal use is also highlighted.
The Secrets of the Spice Trade eBook sheds light on the use of spices in our daily lives, continued growth in use & taste, trading, and the vast impact of spice on global economic culture. Americans, Europeans, Asians, and the world at- large consume a variety of spices and herbs in their cooking, which means they require significant amounts in thousands of metric tonnes. The implication of the increasing demand and taste for spices is far-reaching and a point of analysis.
Highlight of The Book
The Spice Business
The rising curiosity in international ethnic cuisine incorporated with the healthy living trend offers opportunities for exporters from developing countries.
Herbs and Spices
This section will focus on the 6 spices that are supplied to the world from developing countries. Herbs and spices have played an integral role in fortifying foods.
How Market Operates
The U.S. market for spices is massive, complex, and rapidly evolving. The U.S. food market introduces a huge range of new products every year, each with its own flavour profile.
The Spice Business
Spices are in high demand, especially as the gourmet food trend spreads worldwide. European and North American herbs and spices growth have luctuated in the last few years. Due to the Covid pandemic, the sales of spices that enhance immune function, such as Ginger, Curcuma, and Garlic, very quickly in 2020 and 2021. Growing consumer demand and the global spices market are projected to rise from
$17.75 billion in 2021 to $24.23 billion in 2028 at a CAGR of 4.55%.
The increase in CAGR is due to the demand and expansion of the spices market, which will revert to pre-pandemic levels once the pandemic vanishes. However, these spices come from various plant parts, including flowers, barks, fruits, buds, seeds, leaves, roots, and plant tops. Spices are typically utilized to enhance the flavor of foods and beverages, such as nutritious raw materials like turmeric and pepper.