Key Market Indicators
Malaysian Spice Production is on track to reach 55,000 metric tons by 2028, up from 52,000 metric tons in 2023. This marks an average annual growth rate of 0.9%. Since 2019, the country's supply has seen a yearly increase of 1.2%. In 2023, Malaysia ranked 22nd in the world for spice production, with Romania slightly ahead at 52,000 metric tons. The top three spots were occupied by China, Nigeria, and Indonesia, respectively. On the consumption front, Malaysian spice intake is projected to hit 160,000 metric tons by 2028, up from 158,000 metric tons in 2023. This represents a modest compound annual growth rate (CAGR) of 0.2%. Since 2019, the country's demand has remained stable. Malaysia ranked 11th globally in spice consumption in 2023, with Nepal edging out at the same 158,000 metric tons. The leading consumers were Bangladesh, Indonesia, and Thailand, holding the second, third, and fourth positions, respectively.
