Key Market Indicators
Guyanese spice production is projected to reach approximately 7,600 metric tons by 2028, up from 6,000 metric tons in 2023. This represents an average annual growth rate of 3.6%. Since 2019, Guyanese spice supply has increased by 3.7% per year. In the global ranking for 2023, Guyana was positioned at number 48, with Bulgaria slightly ahead at 6,000 metric tons. The top three producers in this ranking were China, Nigeria, and Indonesia, occupying the second, third, and fourth spots respectively. On the consumption side, Guyanese spice consumption is expected to rise to about 3,300 metric tons by 2028 from 3,000 metric tons in 2023, reflecting a compound annual growth rate (CAGR) of 1.4%. Since 2019, the country's demand for spices has remained stable. In 2023, Guyana was ranked 81st in terms of spice consumption, just behind Kazakhstan, which also consumed 3,000 metric tons. The leading consumers in this category included Bangladesh, Indonesia, and Thailand, holding the second, third, and fourth positions respectively.
