Spinach Market

The global spinach market is expected to continue its upward consumption trend, with a forecasted CAGR of +2.9% in volume and +5.1% in value from 2022 to 2030. China remains the largest consumer and producer of spinach, driving market growth. Imports and exports of spinach are also on the rise, showcasing positive trends in consumption and production worldwide.

Market Forecast

Driven by increasing demand for spinach worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market volume to 41M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market value to $85.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Spinach

Global spinach consumption rose slightly to 33M tons in 2022, with an increase of 2.5% on 2021. The total consumption volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The global spinach market value fell slightly to $57.5B in 2022, with a decrease of -3.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate prominent growth. Global consumption peaked at $59.4B in 2021, and then shrank slightly in the following year.

Consumption By Country

China (30M tons) remains the largest spinach consuming country worldwide, accounting for 93% of total volume.

In China, spinach consumption increased at an average annual rate of +4.3% over the period from 2012-2022.

In value terms, China ($51.6B) led the market, alone.

In China, the spinach market increased at an average annual rate of +9.8% over the period from 2012-2022.

In China, spinach per capita consumption expanded at an average annual rate of +3.8% over the period from 2012-2022.

Production

World Production of Spinach

In 2022, the amount of spinach produced worldwide expanded slightly to 33M tons, growing by 2.7% compared with the year before. The total output volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when the production volume increased by 5.3% against the previous year. Global production peaked in 2022 and is likely to see steady growth in the immediate term. The general positive trend in terms output was largely conditioned by notable growth of the harvested area and a noticeable increase in yield figures.

In value terms, spinach production dropped to $74B in 2022 estimated in export price. Over the period under review, production continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of 94% against the previous year. Over the period under review, global production attained the peak level at $79.1B in 2021, and then shrank in the following year.

Production By Country

China (31M tons) constituted the country with the largest volume of spinach production, comprising approx. 93% of total volume.

In China, spinach production expanded at an average annual rate of +4.3% over the period from 2012-2022.

Yield

The global average spinach yield totaled 35 tons per ha in 2022, almost unchanged from 2021 figures. The yield figure increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 11% against the previous year. The global yield peaked in 2022 and is expected to retain growth in years to come.

Harvested Area

The global spinach harvested area amounted to 935K ha in 2022, rising by 2.7% compared with 2021. Overall, the harvested area continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the harvested area increased by 3.7% against the previous year. The global harvested area peaked at 942K ha in 2014; however, from 2015 to 2022, the harvested area stood at a somewhat lower figure.

Imports

World Imports of Spinach

After ten years of growth, purchases abroad of spinach decreased by -11.6% to 218K tons in 2022. Over the period under review, total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.4% against 2012 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 18%. As a result, imports attained the peak of 247K tons, and then shrank in the following year.

In value terms, spinach imports shrank modestly to $489M in 2022. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 21%. Over the period under review, global imports reached the peak figure at $501M in 2021, and then shrank modestly in the following year.

Imports By Country

Canada (35K tons), Belgium (34K tons), the UK (26K tons), the United States (25K tons), Germany (19K tons), Mexico (14K tons), Singapore (13K tons), the Netherlands (8.7K tons), France (6.3K tons) and Poland (4.7K tons) represented roughly 85% of total imports in 2022.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +27.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($104M), the United States ($96M) and the UK ($60M) were the countries with the highest levels of imports in 2022, with a combined 53% share of global imports.

The United States, with a CAGR of +29.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average spinach import price amounted to $2,245 per ton, rising by 11% against the previous year. Over the last decade, it increased at an average annual rate of +4.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($3,862 per ton), while Belgium ($428 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+16.5%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Spinach

In 2022, shipments abroad of spinach increased by 15% to 388K tons, rising for the seventh year in a row after two years of decline. Overall, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 40%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, spinach exports skyrocketed to $930M in 2022. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of 43% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports By Country

In 2022, China (179K tons) was the main exporter of spinach, constituting 46% of total exports. The United States (48K tons) held a 12% share (based on physical terms) of total exports, which put it in second place, followed by Italy (9.6%), Spain (9.5%), Mexico (8.4%) and the Netherlands (4.5%). France (8.6K tons) took a relatively small share of total exports.

China was also the fastest-growing in terms of the spinach exports, with a CAGR of +37.9% from 2012 to 2022. At the same time, Italy (+16.0%), France (+15.2%), Mexico (+13.8%), Spain (+8.0%) and the United States (+5.6%) displayed positive paces of growth. By contrast, the Netherlands (-2.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and Italy increased by +40 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($443M) remains the largest spinach supplier worldwide, comprising 48% of global exports. The second position in the ranking was taken by the United States ($135M), with a 15% share of global exports. It was followed by Italy, with an 11% share.

In China, spinach exports expanded at an average annual rate of +57.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (+4.9% per year) and Italy (+16.9% per year).

Export Prices By Country

The average spinach export price stood at $2,396 per ton in 2022, remaining stable against the previous year. Over the last decade, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2015 an increase of 22% against the previous year. Over the period under review, the average export prices reached the peak figure at $2,398 per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($2,840 per ton), while France ($879 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform