Key Market Indicators
Sri Lanka's spice consumption is projected to climb to approximately 127,000 metric tons by 2028, up from 122,000 metric tons in 2023. This marks an annual growth rate of 0.7%. Since 2019, the demand for spices in Sri Lanka has increased by 0.5% each year. In the global ranking for 2023, Sri Lanka held the 14th position. Japan surpassed Sri Lanka with a consumption of 122,000 metric tons, while Bangladesh, Indonesia, and Thailand secured the 2nd, 3rd, and 4th spots, respectively. On the production front, Sri Lanka's spice output is set to reach roughly 121,000 metric tons by 2028, growing from 110,000 metric tons in 2023. This represents an annual growth rate of 1.5%. Since 2019, the country's spice supply has seen an average annual increase of 1.7%. In the 2023 global production ranking, Sri Lanka stood at 16th place, with Brazil ahead at 110,000 metric tons. China, Nigeria, and Indonesia took the 2nd, 3rd, and 4th positions, respectively.
