Key Market Indicators
Benin's spice consumption is projected to increase to 79,000 metric tons by 2028, up from 76,000 metric tons in 2023, according to recent data. This represents a compound annual growth rate (CAGR) of 0.7%. Since 2019, the country's demand for spices has grown by 0.8% annually. In 2023, Benin ranked 20th globally in spice consumption, with Iran slightly ahead at 76,000 metric tons. Bangladesh, Indonesia, and Thailand hold the second, third, and fourth spots, respectively. In contrast, Benin's spice production is expected to decrease over the same period. By 2028, production is forecasted to drop to 37,000 metric tons from the current 47,000 metric tons in 2023, reflecting a CAGR decline of 3.7%. Since 2019, the nation's spice supply has decreased by 0.8% annually. In 2023, Benin ranked 24th in spice production, trailing Peru, which also produced 47,000 metric tons. China, Nigeria, and Indonesia occupy the second, third, and fourth positions in production rankings.
