Asia: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Asia

The Asian nutmeg, mace and cardamom market was estimated at $X in 2022, picking up by 7.2% against the previous year. Overall, consumption showed a prominent expansion. As a result, consumption reached the peak level of $X; afterwards, it flattened through to 2022.

Production of Nutmeg, Mace And Cardamoms in Asia

In value terms, nutmeg, mace and cardamom production expanded to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.7% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

The countries with the highest volumes of production in 2022 were India (X tons), Indonesia (X tons) and Nepal (X tons), together comprising 87% of total production. Sri Lanka, Lao People's Democratic Republic, Myanmar and Bhutan lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Myanmar (with a CAGR of +20.3%), while production for the other leaders experienced more modest paces of growth.

The average nutmeg, mace and cardamom yield fell to X kg per ha in 2022, which is down by -4.5% on 2021 figures. The yield figure increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 11%. Over the period under review, the nutmeg, mace and cardamom yield reached the peak level at X kg per ha in 2018; however, from 2019 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of nutmeg, mace and cardamoms were harvested in Asia; approximately reflecting the year before. The total harvested area indicated a notable expansion from 2012 to 2022: its figure increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nutmeg, mace and cardamom harvested area decreased by -0.2% against 2020 indices. The growth pace was the most rapid in 2018 when the harvested area increased by 11% against the previous year. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production attained the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports in Asia

In 2022, overseas shipments of nutmeg, mace and cardamoms decreased by -5.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Total exports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +33.0% against 2019 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 24%. The volume of export peaked at X tons in 2021, and then dropped in the following year.

In value terms, nutmeg, mace and cardamom exports reduced to $X in 2022. Overall, exports, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2020 when exports increased by 38% against the previous year. The level of export peaked at $X in 2021, and then declined in the following year.

Exports by Country

Indonesia represented the major exporter of nutmeg, mace and cardamoms in Asia, with the volume of exports finishing at X tons, which was near 53% of total exports in 2022. India (X tons) took the second position in the ranking, distantly followed by Nepal (X tons). All these countries together took near 33% share of total exports. The following exporters - Vietnam (X tons), Sri Lanka (X tons), Singapore (X tons) and the United Arab Emirates (X tons) - together made up 10% of total exports.

Exports from Indonesia increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Vietnam (+17.9%), the United Arab Emirates (+7.5%), Sri Lanka (+4.7%), India (+4.7%) and Nepal (+1.5%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +17.9% from 2012-2022. By contrast, Singapore (-4.6%) illustrated a downward trend over the same period. While the share of Indonesia (+3.2 p.p.) and Vietnam (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-2.6 p.p.) and Nepal (-3.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest nutmeg, mace and cardamom supplying countries in Asia were Indonesia ($X), India ($X) and Nepal ($X), with a combined 83% share of total exports. Sri Lanka, Vietnam, the United Arab Emirates and Singapore lagged somewhat behind, together accounting for a further 11%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +21.3%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, declining by -5.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 21%. Over the period under review, the export prices attained the peak figure at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.9%), while the other leaders experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports in Asia

For the fourth year in a row, Asia recorded growth in purchases abroad of nutmeg, mace and cardamoms, which increased by 11% to X tons in 2022. In general, imports recorded buoyant growth. The growth pace was the most rapid in 2020 with an increase of 37%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, nutmeg, mace and cardamom imports rose modestly to $X in 2022. Overall, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 53%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons), distantly followed by the United Arab Emirates (X tons), India (X tons), Saudi Arabia (X tons) and Bangladesh (X tons) were the largest importers of nutmeg, mace and cardamoms, together constituting 74% of total imports. The following importers - Pakistan (X tons), Jordan (X tons), Vietnam (X tons) and Turkey (X tons) - together made up 9.9% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of +100.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom importing markets in Asia were Saudi Arabia ($X), the United Arab Emirates ($X) and China ($X), together comprising 58% of total imports.

Among the main importing countries, China, with a CAGR of +70.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, reducing by -6.8% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, nutmeg, mace and cardamom import price decreased by -20.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 33% against the previous year. The level of import peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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