Key Market Indicators
Iran's spice consumption is projected to increase to approximately 85,000 metric tons by 2028, up from 78,000 metric tons in 2023. This marks an average annual growth rate of 1.3%. Since 2019, the country's demand for spices has risen by an average of 1.1% per year. In 2023, Iran ranked 19th globally in spice consumption, with Ghana surpassing it at the same volume of 78,000 metric tons. Leading the rankings, Bangladesh, Indonesia, and Thailand occupied the second, third, and fourth positions, respectively. On the production front, Iranian spice output is expected to marginally decrease to around 69,000 metric tons by 2028, maintaining a steady rate from its 2023 level. Since 2019, there has been a slight annual decline of 0.3% in the country's spice supply. In 2023, Iran was also ranked 19th in spice production, with Egypt moving ahead with a production volume of 69,000 metric tons. China, Nigeria, and Indonesia were the second, third, and fourth largest producers, respectively.
