Spinach Prices

Spinach Prices December 2023

In the fourth quarter of 2023, the price of spinach in the United States reached 1.78 USD/lb by December.

Spinach Price Trend, Market Analysis, and News

IMARC's latest publication, “Spinach Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” presents a detailed examination of the spinach market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of spinach at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed spinach price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting spinach pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.

Spinach Market Analysis

The global spinach market size reached 33.85 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 46.94 Million Tons, at a projected CAGR of 3.70% during 2023-2032.

• The spinach market is experiencing growth driven by the increasing awareness of health and wellness among consumers, as spinach is recognized for its high nutritional value, including vitamins, minerals, and antioxidants that promote overall health. For instance, a study by Texas A&M University Health Science Center suggests that eating spinach could help prevent colon cancer. The research, published in the journal Gut Microbes, used a model of familial adenomatous polyposis, showing that feeding freeze-dried spinach for 26 weeks significantly reduced tumors in the colon and small intestine. Spinach's antitumor effects are linked to increased gut microbiome diversity and beneficial changes in gene expression.
• The rising demand for organic and fresh product variant is also contributing to market expansion, with consumers seeking healthier and chemical-free options. For instance, according to a report by The Organic Research Centre, UK published in February 2024, the organic market grew 2 per cent in 2023 ending the year at £3.2 billion. Furthermore, organic products also witnessed encouraging growth on online portals, such as Amazon, with products certified by Soil Association Certification with the Climate Pledge Friendly badge seeing a 10 per cent sales boost.
• Additionally, the trend towards plant-based diets and vegetarianism is boosting spinach consumption, as it serves as a versatile ingredient in a variety of dishes. According to the Plant Based Foods Association (PBFA), 70% of U.S. citizens consumed plant-based foods in 2023, up from 66% in 2022. Plant-based foods were present in 60% of households in 2022, with an 80% repeat purchase rate. The annual retail sales of plant-based foods in the U.S. have surpassed $5 billion, with an annual growth rate of 18.4%.
• In line with this, the growth of the food service industry, including restaurants and catering services, is further propelling the market growth, with spinach being a popular choice for salads, smoothies, and gourmet dishes. Furthermore, advances in agricultural practices and technologies are improving spinach yield and quality, making it more accessible and affordable for consumers. For instance, spinach breeders are leveraging advanced technologies and molecular breeding methods to enhance spinach cultivation. At Bayer Crop Science, breeders use innovative techniques like marker-assisted selection and genomic insights. BASF employs molecular markers for important traits and high-density genotyping platforms for advanced mapping. Bejo Zaden, the agricultural seed brand, focuses on DNA structure insights to combine multiple traits effectively. Similarly, DeSeed, another market player, combines classic breeding with DNA marker-assisted breeding and light technology for speed breeding. KWS utilizes drones, AI, and marker-assisted selection.  
• Government initiatives promoting vegetable consumption and supporting agricultural production are also playing a crucial role in market growth. For instance, the Ministry of Agriculture in India is crucial in boosting the nation’s agricultural output and ensuring food security. Acknowledging the challenges faced by farmers, it has implemented numerous schemes to promote sustainable farming and enhance productivity. Programs such as the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) provide direct income support, while the Rashtriya Krishi Vikas Yojana (RKVY) focuses on comprehensive agricultural growth. The National Food Security Mission (NFSM) aims to increase staple food production. Besides this, the expansion of retail channels, including supermarkets, online platforms, and farmers' markets, is facilitating easier access to spinach, thereby driving its market demand.

Spinach News

The report covers the latest developments, updates, and trends impacting the price of spinach, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the spinach price trend.

Latest developments in the spinach industry:

• In September 2023, leading indoor spinach grower BrightFarms announced it has entered into an exclusive licensing deal with Element Farms to enhance sustainable agriculture. This partnership allows BrightFarms to distribute Element Farms' indoor-grown spinach throughout the Northeast under the BrightFarms brand, meeting the high consumer demand for locally grown spinach. BrightFarms highlighted that this collaboration strengthens their leadership in controlled environment agriculture (CEA) salads and expands their supply capabilities, leveraging both companies' successful spinach production models.
• In June 2024, BASF’s vegetable seed business, operating in the market under the Nunhems® brand announced the expansion of its distribution partnership with TS&L Seed Company to reach more growers, as per which the latter will distribute Nunhems® spinach, lettuce, watermelon, and melon seeds in Nevada, California, and Arizona.

Product Description

Spinach is a leafy green vegetable known for its high nutritional value and versatility in culinary uses. It is rich in vitamins A, C, and K, as well as minerals like iron, calcium, and magnesium. Spinach can be consumed raw in salads, cooked in various dishes, or blended into smoothies. Its tender leaves and mild flavor make it a popular ingredient in many cuisines worldwide. Spinach also contains antioxidants and fiber, contributing to numerous health benefits, including improved digestion, enhanced immune function, and reduced inflammation. As a cool-weather crop, spinach grows best in temperate climates and is often cultivated in both outdoor fields and controlled indoor environments to ensure a year-round supply.

Regional Coverage

The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the spinach price trend. 

Global Spinach Price

The report offers a holistic view of the global spinach pricing trends in the form of spinach price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of spinach, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed spinach demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Spinach Price

European spinach prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.

Detailed price information for spinach can also be provided for an extensive list of European countries.

North America Spinach Price

The analysis of spinach prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.

Specific spinach historical data within the United States and Canada can also be provided.

Middle East and Africa Spinach Price

The report explores the spinach pricing trends in the Middle East and Africa, considering factors like the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Spinach Price

The spinach pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.

This spinach price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Spinach Price

The analysis of spinach prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, agricultural output, and trade frameworks.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of spinach pricing, covering global and regional trends, spot prices at key ports, and a breakdown of FOB and CIF prices.
• The study examines factors affecting spinach price trend, including input costs, supply-demand shifts, and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The spinach price charts ensure our clients remain at the forefront of the industry.