Report Update Nov 1, 2024

Bulgaria - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Bulgaria

For the third year in a row, the Bulgarian nutmeg, mace and cardamom market recorded growth in sales value, which increased by 1.9% to $X in 2022. Over the period under review, consumption showed a measured expansion. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Exports of Nutmeg, Mace And Cardamoms

Exports from Bulgaria

In 2022, the amount of nutmeg, mace and cardamoms exported from Bulgaria dropped remarkably to X tons, which is down by -29.8% on 2021. Overall, exports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2014 when exports increased by 238% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports shrank dramatically to $X in 2022. Over the period under review, exports recorded a abrupt setback. The pace of growth was the most pronounced in 2014 when exports increased by 514%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Greece (X tons), Serbia (X kg) and Georgia (X kg) were the main destinations of nutmeg, mace and cardamom exports from Bulgaria, together comprising 70% of total exports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +86.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Serbia ($X) and Georgia ($X) were the largest markets for nutmeg, mace and cardamom exported from Bulgaria worldwide, together comprising 63% of total exports.

Greece, with a CAGR of +59.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per ton in 2022, with an increase of 6% against the previous year. Overall, the export price, however, continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 an increase of 82%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+4.4%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Bulgaria

In 2022, after two years of growth, there was decline in supplies from abroad of nutmeg, mace and cardamoms, when their volume decreased by -4.2% to X tons. Over the period under review, imports, however, recorded a prominent expansion. The growth pace was the most rapid in 2016 when imports increased by 132% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, nutmeg, mace and cardamom imports declined slightly to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 77% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell in the following year.

Imports by Country

Latvia (X tons), India (X tons) and Indonesia (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Bulgaria, with a combined 71% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +47.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), India ($X) and Indonesia ($X) constituted the largest nutmeg, mace and cardamom suppliers to Bulgaria, together accounting for 69% of total imports.

Latvia, with a CAGR of +40.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average nutmeg, mace and cardamom import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The growth pace was the most rapid in 2017 an increase of 16%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of nutmeg, mace and cardamom consumption in 2021 were India, China and Indonesia, together accounting for 47% of global consumption.

What are the largest producers of nutmeg, mace and cardamoms in the world?

The countries with the highest volumes of nutmeg, mace and cardamom production in 2021 were Indonesia, India and Guatemala, with a combined 83% share of global production. Nepal, Sri Lanka, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together accounting for a further 12%.

What are the leading suppliers of nutmeg, mace and cardamoms to Bulgaria?

In value terms, the largest nutmeg, mace and cardamom suppliers to Bulgaria were Indonesia, Latvia and Spain, together comprising 58% of total imports.

What are the leading importers of nutmeg, mace and cardamoms from Bulgaria?

In value terms, Serbia, Cyprus and Georgia were the largest markets for nutmeg, mace and cardamom exported from Bulgaria worldwide, with a combined 74% share of total exports. Greece, North Macedonia and Italy lagged somewhat behind, together accounting for a further 20%.

What is the average export price for nutmeg, mace and cardamoms in Bulgaria?

The average nutmeg, mace and cardamom export price stood at $12,824 per ton in 2021, jumping by 24% against the previous year.

What is the average import price for nutmeg, mace and cardamoms in Bulgaria?

In 2021, the average nutmeg, mace and cardamom import price amounted to $9,247 per ton, which is down by -13.6% against the previous year.

This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 702 - Nutmeg, mace, cardamoms

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023