Saffron and cardamom are two spices that are most profitable to trade in global market. In 2020, global saffron market was pegged at $374.6 million and expected annual CAGR between 2020 and 2028 is pegged at 8.5% for it. This annual CAGR is expected to be achieved on the back of medicinal and cosmetic application of saffron. Saffron has notable health benefits and is a known source of antioxidants. Cardamom is second only to pepper in usage in food preparations and cardamom trade is comparable to saffron trade in profitability.
The Indian subcontinent has long been known to be one of the world’s top exporters of spices, and today, about 40% of all spices in the world are exported from India. In 2015, the five most exported Indian spices were cloves, cinnamon, cardamom, nutmeg, and black pepper. When you consider how well-loved these spices are in foreign markets such as Libya, it’s no wonder that India remains an industry leader in spices exports. Let’s take a closer look at how these top five Indian spices were exported to Libya in 2021.
The spice trade has been around since the time of the ancient Greeks, but its roots are actually much older than that. It’s been said that the spice trade began between the Mediterranean and India about 3,000 years ago, though some people believe it may have begun even earlier than that—and in a different region entirely. What we do know is that spices were incredibly valuable back then, which made people want to trade for them more than anything else. This led to both sailing voyages and land-based trading routes from Europe all the way to India, just to get their hands on this aromatic merchandise!
When you are looking for bulk spices, or spices in bulk, then it is good to purchase and trade them through Tradologie.com, as it is a leading B2B e-commerce and a global trading platform where all the transactions are done online only. Here we are going to discuss the benefits of trading spices in bulk through Tradologie.
The global demand for spices and herbs is rising, driven by changing population demographics, increasing disposable incomes, and an evolving consumer base. The demand for a more diverse food palette is also increasing. This is not just because of the growing multiculturalism in many countries, but also because of the rise in foreign travel and the influence that this has on cuisine.
The global export of black pepper is estimated to increase at a robust CAGR of 2.7% during 2017–2022. Geographically, India and Vietnam are the two leading exporters of black pepper in the world. In 2016, these two countries accounted for nearly 60% of worldwide black pepper exports.
India is the world’s largest producer of spices. The country produces 70 percent of the world’s ginger, turmeric, and chilies and 65 percent of its dry onions, according to the latest data from the Agricultural and Processed Food Products Export Development Authority (APEDA).
There are many buyers across the world eager to buy bulk spices from India – a country that is known as the home of spices. Indian spices come with exquisite aroma, texture, taste, and medicinal value. A long history of trading with the ancient civilizations of Rome and China makes India a favored destination when it comes to buying spices. Tradologie.com facilitates Indian spices exports.
The global spice market is driven by the increasing popularity of Indian cuisines in Europe and North America with a growing Asian immigrant population. The growth prospects look good, however, traders may face a few procurement challenges while buying bulk spices and establishing themselves in the market.
According to market research firms, the global spice market size has been valued at USD 5.86 billion in 2019 and is expected to grow at a CAGR (compound annual growth rate) of 6.5% between 2020 and 2027. There is an increasing demand for bulk spices grown organically that can help boost immunity and ensure general well-being when consumed every day. Global manufacturers are producing high-quality, appealing, and reliable products that are consistent in quality and can correlate with flavors of myriad regions.