Asia-Pacific: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Asia-Pacific

For the eleventh year in a row, the Asia-Pacific nutmeg, mace and cardamom market recorded growth in sales value, which increased by 1.2% to $X in 2022. Over the period under review, consumption posted a strong increase. The level of consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Production of Nutmeg, Mace And Cardamoms in Asia-Pacific

In value terms, nutmeg, mace and cardamom production rose modestly 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 growth pace was the most rapid in 2016 with an increase of 22%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat 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 accounting for 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.

In 2022, the average yield of nutmeg, mace and cardamoms in Asia-Pacific declined slightly to X kg per ha, reducing by -4.5% on the year before. The yield figure increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the yield increased by 11% against the previous year. The level of yield peaked at X kg per ha in 2018; however, from 2019 to 2022, the yield remained at a 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, the total area harvested in terms of nutmeg, mace and cardamoms production in Asia-Pacific totaled X ha, remaining relatively unchanged against 2021. The total harvested area indicated perceptible growth 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 with an increase of 11% against the previous year. The level of harvested area peaked 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-Pacific

In 2022, after two years of growth, there was significant decline in overseas shipments of nutmeg, mace and cardamoms, when their volume decreased by -6% to X tons. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +4.3% 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 +36.0% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 25%. As a result, the exports attained the peak of X tons, and then dropped in the following year.

In value terms, nutmeg, mace and cardamom exports reduced to $X in 2022. Overall, exports, however, saw a moderate increase. The pace of growth was the most pronounced in 2020 with an increase of 36% against the previous year. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, Indonesia (X tons) represented the key exporter of nutmeg, mace and cardamoms, constituting 55% of total exports. India (X tons) took the second position in the ranking, distantly followed by Nepal (X tons). All these countries together took approx. 34% share of total exports. Vietnam (X tons), Sri Lanka (X tons) and Singapore (X tons) followed a long way behind the leaders.

Exports from Indonesia increased at an average annual rate of +5.1% from 2012 to 2022. At the same time, Vietnam (+17.9%), 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-Pacific, with a CAGR of +17.9% from 2012-2022. By contrast, Singapore (-4.6%) illustrated a downward trend over the same period. Indonesia (+4.1 p.p.) and Vietnam (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Singapore and Nepal saw its share reduced by -2.6% and -3.4% from 2012 to 2022, respectively. 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-Pacific were Indonesia ($X), India ($X) and Nepal ($X), together accounting for 89% of total exports. Sri Lanka, Vietnam and Singapore lagged somewhat behind, together comprising a further 8.8%.

Vietnam, with a CAGR of +10.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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-Pacific stood at $X per ton in 2022, which is down by -6.3% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 18% against the previous year. The level of export peaked 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 India ($X per ton), while Nepal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.1%), while the other leaders experienced mixed trends in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in purchases abroad of nutmeg, mace and cardamoms, which increased by 7% to X tons in 2022. Overall, imports enjoyed resilient growth. The growth pace was the most rapid in 2021 with an increase of 39% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, nutmeg, mace and cardamom imports contracted to $X in 2022. Over the period under review, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when imports increased by 39% against the previous year. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

China was the main importing country with an import of about X tons, which reached 47% of total imports. India (X tons) ranks second in terms of the total imports with a 20% share, followed by Bangladesh (11%) and Pakistan (6.9%). The following importers - Vietnam (X tons), Singapore (X tons) and Japan (X tons) - together made up 7.9% of total imports.

China was also the fastest-growing in terms of the nutmeg, mace and cardamoms imports, with a CAGR of +100.6% from 2012 to 2022. At the same time, Bangladesh (+19.1%), India (+17.9%), Pakistan (+4.3%) and Japan (+2.7%) displayed positive paces of growth. By contrast, Vietnam (-3.2%) and Singapore (-4.5%) illustrated a downward trend over the same period. China (+47 p.p.), India (+6 p.p.) and Bangladesh (+4 p.p.) significantly strengthened its position in terms of the total imports, while Japan, Pakistan, Singapore and Vietnam saw its share reduced by -3.9%, -9.6%, -11.1% and -14.1% from 2012 to 2022, respectively.

In value terms, the largest nutmeg, mace and cardamom importing markets in Asia-Pacific were China ($X), India ($X) and Bangladesh ($X), with a combined 71% share of total imports.

China, with a CAGR of +70.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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-Pacific stood at $X per ton in 2022, falling by -20.2% against the previous year. Over the period under review, the import price saw a mild decline. The pace of growth was the most pronounced in 2019 when the import price increased by 23%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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