Hello viewers, welcome to Big Man Business Youtube channel, Today, we’re going to be talking about Spices.
A spice is a seed, fruit, root, bark, or other plant substance primarily used for flavoring or coloring food. Spices are distinguished from herbs, which are the leaves, flowers, or stems of plants used for flavoring or as a garnish. Spices are sometimes used in medicine, religious rituals, cosmetics or perfume production.
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Top 5 Countries with their Annual Production and Exportation of Spices:
India is the largest producer of spices in the Global Market. It produces more than 75 varieties of spices. Also, the nation exports these Indian spices to the world in Bulk.
In 2020, India produced 2,176,908.62 Metric Tons of spices. The major produce was from the state of Kerala which is the world’s capital of spice.
The major reason behind India being the largest producer and exporter of spices is its multi climatic season.
Its exportation of spices like chili export stood at 497,550 tons, cumin export at 206,400 tons, turmeric export at 175,600 tons, and cardamom export at 930 tons.
The total spices exported from April 2020 to February 2021 were 3.56 billion dollars. Though the Indian spices are exported to 185 countries, China with 24 percent, and the US with 16 percent are the two major consumers of Indian spices.
Ginger spice was produced more in quantity, accounting for a 178 percent increase in volume at 50,410 tons, and a 129 percent growth in value, which stood at INR 449.05 Crores.
In 2020, Asia, Europe, America, and Africa were the top importers of Indian Spices.
India is the home of various useful spices like turmeric, clove, coriander, cardamom, fenugreek, cumin, and many more. These large varieties of spices form credible Indian Spices Industry.
Turkey: India is followed by Turkey, which is the second-largest producer of spices in the world. It produced 251,893.45 Metric Tons of spices during 2020. Turkish spices play an essential role in the cuisines of the Southeastern Countries. Turkey exported 75 types of spices. The spices types that stand out were thyme, bay leaf, sage, and cumin. Thyme export was reached to the peak as its sales stood at 57.3 Million US Dollars.
Fresh spices in Turkey are available at local bazaars, wholesale markets, and large format supermarkets. Infact, more exotic spices such as black cumin and sumac powder can be found in Turkish markets with ease.
China, the Syrian Arab Republic, and India were the highest three importers of Turkish spices with a share group of 22 percent, 19.9 percent, and 14.2 percent respectively.
Bangladesh: With 167,205.03 Metric Tons of Spice production, Bangladesh comes on the third rank for producing spices during 2020. It is considered in the top 5 rankings in spice producing countries. Kuwait, China, Indonesia, and India were the most popular nations for importing spices from Bangladesh. Bangladesh exports spices after getting their evaluation list on the board.
China: China is the fourth largest producer of spices in the world. In 2020, China produced 104,766.23 Metric Tons of spices. Spice Export in China stood at 737 million US dollars that’s more than India’s exportation of spices in the fiscal year 2019 to 2020. Five spices are majorly grown in China, such as Star Anise, Fennel Seeds, Whole Cloves, Cinnamon stick, and Szechuan Peppercorns which are quite famous in the Multi cuisine world.
Indonesia: Indonesia gets itself on the fifth largest spice producing country in the world as it cultivated 96,849.28 metric tons of spice in the financial year 2020. Indonesia holds various spices like Cinnamon, vanilla, nutmeg, cloves, pepper, and ginger. Spices are Indonesia’s fourth largest exported commodities after fish, shrimp, and coffee. Pepper was something in the category of spices that boosted Indonesia’s economic growth.
Australia, Japan, Germany, Peru, and Canada were the country for importing spices from Indonesia. They all played an important role in boosting up the production of spices in Indonesia.
Countries With The Highest Spice Consumption:
Spices have the power to make food tasty, savory, aromatic, and sweet. The preference of spice varies from one region of the world to the other. In the Middle and the Far East, spices are an integral part of the food culture, and food cannot be prepared or served without spicy ingredients. The following are countries with the spiciest foods.
Which Countries Have The Spiciest Cuisine:
Thailand: There are several ways to circumvent spicy food at a Thai restaurant in Europe or North America, but it is a lot harder to find unspiced food in Thailand. The Thai threshold for spicy is much higher than most countries, and what foreigners consider extremely spicy is usually just another flavor for the locals. Spices in Thailand range from curry, hot pepper, and ginger. Restaurants that serve spicy dishes have a competitive edge over other restaurants.
India: Spicy food in India means adding cardamom, garlic, chilies, coriander, and hot pepper. Food in India is a balance of heat and flavor. When one thinks of spicy Indian food, the spicy Goanese curry Vindaloo comes into mind. However, Rajasthani laal maas is much spicy and hotter, it was initially prepared using game meat and the spice was used to mask the gamey taste. However, the game meat trade is banned in India and the dish is prepared using goat meat. A favorite cuisine in South India is the chicken 65. No one can pinpoint why the number 65 is attached to it, but one of the theories state that it requires precisely 65 varieties of spices to get the flavor right.
China: Spicy food is not ubiquitous in China except for the provinces of Sichuan, Hunan, Guizhou, and Yunnan. Tourists visiting these provinces should prepare themselves for food covered in a blanket of garlic, scallions, and diced chili peppers. Other parts of China consume spices depending on the native food in the region. Chinese restaurants across the globe prepare spices that are typical of Chinese cuisine.
Colombia: Colombians hardly use hot peppers in their dishes. However, this is not to say that Colombian food is without flavor. The country has some of the spiciest cuisines in the world. Cilantro, parsley, and chives are the most popular spices in the country. Colombians prefer fresh food and therefore consume products harvested directly from the farm without undergoing any form of process. It is also common for the natives to sprinkle powdered chili on fruits especially pineapples and mangoes along with lime juice.
OVERVIEW OF THE GLOBAL SPICE MARKET:
The global spices market size was valued at 5.86 billion dollars in 2019 and is expected to expand at a compound annual growth rate of 6.5 percent from 2020 to 2027. Increasing demand for authentic cuisines globally is one of the foremost factors driving the consumption of spices. The growing fondness towards enjoying various kinds of flavors in foods and snacks is likely to prompt manufacturers to produce high quality, appealing, and reliable products that can maintain consistent standards globally. Spices can alter the taste of specific cuisines and correlate with flavors of various regions. For instance, the Middle East and Southeast Asia are likely to contribute to fusions, which is expected to gain presence in the market over the forecast period.
Spices are seeds, dried fruits, roots, and barks used to give flavor, aroma, and color to food. Several spices from various origins and cuisines are available in various forms, including ground, crushed, and whole. Each of these spices provides a unique flavor, aroma, and taste to the food. Some of the commonly used spices are cinnamon, black pepper, cumin seeds, nutmeg, cloves, chili powder, turmeric, ginger, and garlic.
Retail and e commerce portals are among the sought after destinations for the distribution of spices. Retailers such as Walmart, Kroger’s, and Tesco are serving consumers with self labeled products to establish their presence in the market and sustain the competition. However, retailers are also facilitating the availability of products with a higher affinity to showcase their product content through transparent packaging and those with a higher shelf life.
Besides the household consumption of spices, most of the fast food chains such as Domino’s, McDonald’s, and Starbucks are favorably inclined towards the use of chili flakes, black pepper, dried ginger powders, and parsley to enhance the flavor in any product. Apart from these chains, restaurants, bars, and resorts are also focusing on providing consumers a taste of different culinary from selected regions, which is a part of diving into global trends.
The modern day use of spices is limited to taste and flavor but they are extensively used for their health benefits. Many of these act as an antioxidant and thus are used to treat certain health conditions. Spice companies have also started new advertising campaigns to encourage consumers to try recipes at home. Manufacturers like McCormick and Kerry are widely campaigning on social media platforms such as Pinterest, Facebook, and Twitter to create awareness regarding the use of various spices.
Pepper accounted for more than 15.0 percent share of the global revenue in 2019. Turmeric is expected to register the fastest CAGR of 7.1 percent from 2020 to 2027. Powdered spices are used as marinades, rubs, snack mix and flavoring agents for curries. The whole spice segment is expected to register the fastest CAGR of 6.8 percent from 2020 to 2027. Asia Pacific held the largest share of over 35.0 percent in 2019. China is one of the largest consumers of spices in Asia Pacific.
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