Key Market Indicators
Hungarian spice consumption is projected to hit 30,000 metric tons by 2028, up from 29,000 metric tons in 2023. This marks an average annual growth rate of 0.7%. However, since 2019, Hungary's demand has shown no significant change. In 2023, Hungary ranked 32nd in global spice consumption, with South Africa leading slightly ahead at 29,000 metric tons. Meanwhile, Bangladesh, Indonesia, and Thailand secured the second, third, and fourth positions, respectively. On the production front, Hungary's spice output is expected to reach 30,700 metric tons by 2028, climbing from 30,000 metric tons in 2023. This represents a compound annual growth rate of 0.3%. Notably, since 2019, Hungarian spice supply has seen a yearly increase of 0.7%. In 2023, Hungary was ranked 29th in global spice production, with Tunisia surpassing it at 30,000 metric tons. The top spots were occupied by China, Nigeria, and Indonesia, in that order.
