Key Market Indicators
Filipina spice consumption is projected to reach approximately 39,000 metric tons by 2028, from a similar figure in 2023, exhibiting a stagnant year-on-year compound annual growth rate (CAGR). Since 2019, demand in the Philippines has increased by 0.5% annually. In 2023, the country was ranked 26th in spice consumption, with Canada leading at 39,000 metric tons. Bangladesh, Indonesia, and Thailand secured the second, third, and fourth positions respectively. On the production front, Filipina spice output is expected to decrease slightly to about 29,000 metric tons by 2028, from 29,000 metric tons in 2023, reflecting a minor annual decline of 0.1%. Since 2019, the supply has remained stable with no significant change. In 2023, the Philippines was the 30th largest producer, with Hungary ahead at 29,000 metric tons. China, Nigeria, and Indonesia were the top three producers, occupying the second, third, and fourth ranks respectively.
