Key Market Indicators
Bangladeshi spice production is projected to reach approximately 430,000 metric tons by 2028, up from around 410,000 metric tons in 2023. This marks an average annual growth rate of 0.8%. Since 2019, the country's spice supply has seen a consistent year-on-year increase of 0.8%. In 2023, Bangladesh ranked sixth in global spice production. Vietnam led the rankings with a production output of 410,000 metric tons, followed by China, Nigeria, and Indonesia occupying the second, third, and fourth positions, respectively. On the consumption front, Bangladeshi spice intake is expected to hit about 488,000 metric tons by 2028, up slightly from 485,000 metric tons in 2023. This represents a modest average annual growth rate of 0.1%. Since 2019, the country's demand for spices has remained stable with no significant year-on-year increase. In 2023, Bangladesh ranked second in global spice consumption, trailing only India, which also reported a consumption of 485,000 metric tons. Indonesia and Thailand followed Bangladesh in the third and fourth positions, respectively.
