Tanzania Spice Market Is Expected to Reach Us$ 215.2 Million by 2018: Research Report

• Future Growth of this sector is expected to be organic spices and development of mechanized farming systems

• The major players in the market such as METL, Export Trading Group and ZSCT are expected to maintain focus on providing modern tools and knowledge to farmers in order to obtain higher yield and a superior quality of spices

Ken Research announced its latest publication on “Tanzania Spice Market Outlook to 2018” which provides a comprehensive analysis of the major spices produced in Tanzania. The report covers various aspects such as market size of Tanzanian spices, segmentation on the basis of revenue, production volume, organized and unorganized sector along with exports and imports. The report is useful for farmers, trading groups, processing companies, machinery manufacturers and new players venturing in the market.

The spices in Tanzanian farms have been majorly grown through traditional farming processes that use manual labor. However, due to lack of certification credentials by accredited international or local organizations, the exports of these spices have not showcased their full potential. Being an agrarian economy, Tanzanian government has taken several initiatives to develop their agriculture sector in order to boost their spice production levels. The spice industry in Tanzania has witnessed a consistent and robust growth in recent years on the account of rising demand of spices in local and international market fueled by expansion in spice production. The surge in growth is majorly originated from growth in clove and ginger production in the country. This growth segment has been largely led by domestic and international factors such as rise in prices and high demand. The spice industry in Tanzania is comprised of companies such as Mohammed Enterprise, Export Trading Group and Zanzibar State Trading Corporation which possess a strong portfolio of spice products. The revenues of the Tanzania spice industry have grown at a CAGR of 8.0%...