Market Insights Consumer Food Sauces & Spices

Spices & Culinary Herbs - Cyprus

Cyprus

Revenue in the Salt & Other Spices market amounts to US$20.18m in 2024. The market is expected to grow annually by 4.51% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$10,530m in 2024).
In relation to total population figures, per person revenues of US$15.91 are generated in 2024.
In the Salt & Other Spices market, volume is expected to amount to 0.71m kg by 2029. The Salt & Other Spices market is expected to show a volume growth of 2.9% in 2025.
The average volume per person in the Salt & Other Spices market is expected to amount to 0.5kg in 2024.

Key regions: United Kingdom, Spain, Japan, India, South Korea

Market

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Analyst Opinion

The Spices & Culinary Herbs Market in Cyprus is experiencing minimal growth due to factors such as low consumer awareness and limited availability of products. Despite the convenience of online services, the market's growth rate remains stagnant.

Customer preferences: The Spices & Culinary Herbs Market within the Sauces & Spices Market is experiencing a rise in demand for organic and locally sourced products. As consumers become more health-conscious, they are also seeking out options that align with their values and support sustainability. This trend is also influenced by the growing interest in traditional and authentic flavors, as well as the popularity of plant-based diets. These shifts in consumer preferences are driving the market towards offering a wider variety of high-quality and ethically sourced spices and herbs.

Trends in the market: In Cyprus, there is a rising trend in the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market market towards incorporating locally sourced and organic ingredients. This is driven by consumer demand for healthier and sustainable options. Additionally, there is a growing interest in exotic and international flavors, leading to an increase in the import of spices and herbs. These trends are significant as they reflect changing consumer preferences and have the potential to disrupt traditional supply chains. Industry stakeholders should consider diversifying their product offerings and sourcing strategies to stay competitive and meet evolving consumer demands.

Local special circumstances: In Cyprus, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market market is heavily influenced by the country's rich history and Mediterranean climate. The use of locally grown herbs and spices, such as oregano, thyme, and rosemary, is deeply ingrained in Cypriot cuisine and culture. Additionally, the country's geographical location and proximity to other Mediterranean countries have led to a fusion of flavors and spices in its cuisine. Moreover, regulations on the use of certain herbs and spices in traditional dishes, such as halloumi cheese and souvlaki, have also shaped the market dynamics.

Underlying macroeconomic factors: The Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market in Cyprus is greatly influenced by macroeconomic factors such as trade policies, consumer preferences, and the overall health of the national economy. Cyprus is a prominent exporter of spices and culinary herbs, and thus, its market is impacted by global economic trends and trade agreements. Moreover, the country's stable economy and increasing consumer demand for natural and organic food products have also contributed to the growth of the Spices & Culinary Herbs Market. Additionally, government initiatives to promote the use of local spices and herbs in the food industry have further fueled market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.