Report Update Nov 1, 2024

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

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Serbia: Market for Nutmeg, Mace And Cardamoms 2024

Market Size for Nutmeg, Mace And Cardamoms in Serbia

In 2022, the Serbian nutmeg, mace and cardamom market decreased by -88.9% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption showed a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2021, and then fell significantly in the following year.

Exports of Nutmeg, Mace And Cardamoms

Exports from Serbia

In 2022, approx. X tons of nutmeg, mace and cardamoms were exported from Serbia; with an increase of 334% on the previous year's figure. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 790% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, nutmeg, mace and cardamom exports expanded slightly to $X in 2022. In general, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2014 with an increase of 692% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X tons) was the main destination for nutmeg, mace and cardamom exports from Serbia, accounting for a 78% share of total exports. Moreover, nutmeg, mace and cardamom exports to Hungary exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X kg), sixfold. The third position in this ranking was held by Montenegro (X kg), with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hungary was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+20.2% per year) and Montenegro (+21.6% per year).

In value terms, Bosnia and Herzegovina ($X), Montenegro ($X) and Hungary ($X) appeared to be the largest markets for nutmeg, mace and cardamom exported from Serbia worldwide, with a combined 96% share of total exports. Croatia and North Macedonia lagged somewhat behind, together comprising a further 3.8%.

Croatia, with a CAGR of +35.5%, recorded the highest growth rate of the value of exports, in terms of 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

In 2022, the average nutmeg, mace and cardamom export price amounted to $X per ton, waning by -75.9% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2020 an increase of 29% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then declined significantly in the following year.

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 Bosnia and Herzegovina ($X per ton), while the average price for exports to Hungary ($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 (+0.2%), while the prices for the other major destinations experienced a decline.

Imports of Nutmeg, Mace And Cardamoms

Imports into Serbia

In 2022, after two years of growth, there was significant decline in supplies from abroad of nutmeg, mace and cardamoms, when their volume decreased by -46.6% to X tons. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 125%. Imports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, nutmeg, mace and cardamom imports shrank remarkably to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 104%. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

Grenada (X tons), Indonesia (X tons) and Spain (X tons) were the main suppliers of nutmeg, mace and cardamom imports to Serbia, together accounting for 97% of total imports.

From 2012 to 2022, the biggest increases were recorded for Grenada (with a CAGR of +47.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X), Grenada ($X) and Spain ($X) constituted the largest nutmeg, mace and cardamom suppliers to Serbia, with a combined 96% share of total imports.

Grenada, with a CAGR of +28.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, declining by -27.4% against the previous year. In general, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2014 when the average import price increased by 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Grenada ($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 (-3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in Serbia. 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:

Serbia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Serbia
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