The EU is still a promising market for Vietnamese spices

Herbs, Spices & Seasonings

Vietnam

Market & Price Trends

Published Oct 4, 2023

Tridge summary

Sales of functional spices that support immune function, such as ginger, turmeric, and garlic, have grown rapidly in Europe due to the Covid-19 pandemic. The European market also has a growing interest in sustainably sourced spices, with Germany, the UK, the Netherlands, and Spain offering the most opportunities. Europe is a leading region in importing spices, mostly from developing countries, and has higher import prices compared to other regions. Food safety and sustainability are key factors for European buyers, and certifications for food safety and organic production are important for exporters targeting the European market.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Statistics show that sales of functional spices that support immune function, such as ginger, turmeric and garlic, grew especially rapidly in 2020 and 2021 due to the Covid-19 epidemic. The European market is also marked by growing interest in sustainably sourced spices; In which, certification plays an important role. The European countries that offer the most opportunities are Germany, the UK, the Netherlands and Spain. Among the products most in demand are ginger and turmeric, while pepper, vanilla and cinnamon remain major market players in Europe. Nutmeg in particular has also seen significant growth recently. According to the Vietnam Trade Office in Belgium and the EU, this is one of the leading regions importing spices and flavorings, accounting for about 1/4 of the world's total imports. Notably, more than 95% of imports from outside Europe come from developing countries. The strong dependence on spice imports from developing countries also means that most trade in ...

Source: Vinanet