Key Market Indicators
Nepal's spice consumption is projected to rise to approximately 168,000 metric tons by 2028, up from 160,000 metric tons in 2023. This marks an average annual growth rate of 0.7%. Since 2019, the country's demand for spices has increased by 0.6% each year. In 2023, Nepal ranked 10th in global spice consumption, with Nigeria surpassing it at the same 160,000 metric tons mark. Bangladesh, Indonesia, and Thailand took the second, third, and fourth spots, respectively. In terms of production, Nepal is expected to reach around 393,000 metric tons by 2028, an increase from 378,000 metric tons in 2023. This represents an average annual growth rate of 0.6%. Since 2019, Nepal's spice supply has also grown by 0.6% annually. In 2023, Nepal was the ninth-largest spice producer, with Ethiopia slightly ahead at 378,000 metric tons. China, Nigeria, and Indonesia occupied the second, third, and fourth positions in this ranking, respectively.
