Key Market Indicators
India's spice production is projected to hit 6,440 thousand metric tons by 2028, up from 5,950 thousand metric tons in 2023. This marks an average annual growth rate of 1.2%. Since 2019, the country's spice supply has increased by 2% year on year. In global rankings, China, Nigeria, and Indonesia hold the second, third, and fourth positions, respectively, in spice production. On the consumption front, India's spice usage is expected to reach 4,980 thousand metric tons by 2028, rising from 4,700 thousand metric tons in 2023, with an average annual growth rate of 0.9%. Since 2019, India's spice demand has grown by 1% annually. Bangladesh, Indonesia, and Thailand are the second, third, and fourth largest consumers of spices, respectively.
