Key Market Indicators
Indonesia's spice consumption is projected to climb to approximately 519,000 metric tons by 2028, up from around 472,000 metric tons in 2023, reflecting an annual growth rate of 1.5%. Since 2019, the country's demand for spices has increased by 2% each year. In 2023, Indonesia ranked third in spice consumption, surpassed by Bangladesh, which also recorded a consumption of 472,000 metric tons. The leading countries in spice consumption were Bangladesh, Indonesia, and Thailand, occupying the second, third, and fourth spots, respectively. On the production front, Indonesia's spice output is expected to decline slightly, reaching about 636,000 metric tons by 2028 from 651,000 metric tons in 2023, with an annual decrease rate of 0.4%. Since 2019, there has been no significant change in Indonesia's spice supply. In 2023, Indonesia ranked fourth in spice production, following Nigeria, which produced 651,000 metric tons. China, Nigeria, and Indonesia were the second, third, and fourth largest producers of spices, respectively.
