The spice trade has never collapsed. It has just grown and grown.

In 2010, $6bn of spices were exported globally, and the value of spice trade was growing at over 20% per year.

comtrade.un.org/pb/FileFetch.aspx?docID=4079&type...

India was the largest exporter. In 2014, India exported $2.4bn of spices. China was the second largest.

http://www.indianspices.com/html/s0420sts.htm India’s main exports were turmeric, pepper, capsicums and cumin seeds. China’s main exports (to the EU) were ginger and capsicums.

81% of world production of herbs and spices came from Asia.

In 2014, the EU imported about $3bn of spices.

The largest suppliers of spices to the EU were China, India, Vietnam, Indonesia, Brazil, Peru, Thailand, Turkey, Madagascar, and Syria, in that order.

The EU also exported (including exports between EU members) about $2bn of herbs and spices in 2014, with the biggest exporters being, Netherlands, Spain, Germany, Bulgaria, Italy, France, UK, Belgium, Austria, Poland, in that order. (EU exports were mostly herbs, with Chilies and peppers being the largest category, followed by anise, badian, fennel, coriander)

http://www.cbi.eu/sites/default/files/trade-statistics-europe-spices-herbs-2015.pdf

The USA is the worlds largest spice importing and consuming country. 40% of the USA spice consumption is grown in the USA, while 60% is imported. The largest markets imported from are Indonesia, Mexico, India, Canada, and China. (The USA imports spices from more than 50 countries, but the 5 countries above account for over half the value).

http://www.ers.usda.gov/publications/aib-agricultural-information-bulletin/aib709.aspx

The spice trade is alive and kicking. It is no longer nearly as dominant a trade in comparison to other goods as it once was. Spice cultivation has spread around the world, and competition and cheap global transport has meant that the price of spices to consumers is (relatively) much less than it once was, but this is still an important trade.