Key Market Indicators
Myanmar's spice consumption is projected to decline to approximately 105,000 metric tons by 2028, down from 112,000 metric tons in 2023. This marks an annual decrease of 1% in the compound annual growth rate (CAGR). The demand for spices in Myanmar has been on a downward trend, falling 1% each year since 2019. In 2023, Myanmar ranked 15th in global spice consumption, with Sri Lanka surpassing it at 112,000 metric tons. Bangladesh, Indonesia, and Thailand held the second, third, and fourth positions, respectively. On the production front, Myanmar's spice output is expected to rise slightly, reaching around 144,000 metric tons by 2028 from 141,000 metric tons in 2023. This represents a modest average annual growth of 0.3%. Since 2019, the country's spice supply has seen a 0.6% year-on-year increase. In 2023, Myanmar was ranked 12th globally in spice production, with Pakistan overtaking it at 141,000 metric tons. China, Nigeria, and Indonesia occupied the second, third, and fourth spots in the production rankings, respectively.
