According to a forecast, Vietnam’s organic spices will experience impressive growth. It is suitable with the rapidly expanding trend of organic food in the world. The European market continues to increase spice imports, particularly from developing countries.
In 2021, Europe was the second largest market for importing spices and flavorings, holding a 28% market share. Notably, over 95% of Europe’s imports from outside the region came from developing countries.
Vietnam’s organic spices
From 2019 to 2021, the European market continued to increase spice imports, particularly from developing countries. During this period, imports of spices and flavorings grew at an annual rate of 9%. The value reached €1.8 billion, accounting for 60% of Europe’s total imports.
Due to the characteristics of the European market, the main spice import markets will remain stable in the coming years. Opportunities for spices from businesses will largely depend on their ability to meet requirements of quality, pricing, and certifications.
European countries offering the most opportunities include Germany, the United Kingdom, the Netherlands, and Spain. Based on import statistics, the spices with the best market share in Europe are ginger, turmeric, pepper, cinnamon, and nutmeg.
Round cassia cut from Vietnam
The increasing demand for organic spices will open new opportunities for exporters from developing countries. In addition, the rising demands from buyers and changes in regulations will require spice producers enhance the quality standards.
Most mandatory requirements for importing spices into the European countries are related to food safety. These controls include regular inspections at the arrival ports or at the importer’s facilities. The purpose of these controls is to verify whether the products comply with legal requirements.
The import markets for various products shows significant potential. Vietnam’s organic spices have established a strong position in international markets. Vietnam’s cinnamon plantations cover about 150,000 hectares, accounting for 17% of the global cinnamon cultivation area. Vietnam is currently the largest exporter of cinnamon in the world.
Organic star anise from Vietnam
As for star anise, a native species owned by very few countries, Vietnam and China dominate its production. Products made from cinnamon, star anise, and medicinal plants are gaining increasing attention and expanding export markets due to changes in consumer awareness and preferences.
Currently, Vietnamese cinnamon and star anise have strong presence in various regions. There are increasing trends of using organic spices as materials in many industries such as food, cosmetics, and pharmaceuticals. In addition, along with the signing of numerous free trade agreements, Vietnamese cinnamon and star anise products have additional momentum and opportunities for development.
Vietnamese source: https://haiquanonline.com.vn/tiem-nang-xuat-khau-gia-vi-va-huong-lieu-178901.html