Key Market Indicators
**Peruvian Spice Consumption to Decline by 2028** Peruvian spice consumption is projected to decrease to approximately 5,600 metric tons by 2028, down from 6,000 metric tons in 2023. This represents an average annual decline of 1%. Since 2019, the demand for spices in Peru has remained stable. In 2023, Peru ranked 63rd in the world for spice consumption, with Chile slightly ahead at 6,000 metric tons. Leading the global ranking were Bangladesh, Indonesia, and Thailand, occupying the second, third, and fourth positions respectively. **Peruvian Spice Production on a Slow Rise** On the production front, Peruvian spice output is expected to reach around 52,800 metric tons by 2028, up from 52,000 metric tons in 2023. This marks a modest average annual growth rate of 0.2%. Since 2019, the country's spice production has seen a yearly increase of 0.4%. In 2023, Peru was ranked 22nd globally in spice production, with Malaysia surpassing it at 52,000 metric tons. China, Nigeria, and Indonesia were the top three producers, holding the second, third, and fourth positions, respectively.
