Key Market Indicators
Nigerian spice production is projected to reach 1.25 million metric tons by 2028, rising from approximately 1.04 million metric tons in 2023. This represents a compound annual growth rate (CAGR) of 2.8%. The country's spice supply has seen a notable increase, growing by 6% annually since 2019. Meanwhile, spice consumption in Nigeria is expected to climb to 262 thousand metric tons by 2028, up from 257 thousand metric tons in 2023. This growth reflects a modest CAGR of 0.3%. Since 2019, Nigerian demand for spices has grown at an annual rate of 0.2%.
