Report Southern Asia - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Mar 1, 2025

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

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Southern Asia: Market for Nutmeg, Mace And Cardamoms 2025

Market Size for Nutmeg, Mace And Cardamoms in Southern Asia

In 2022, the South Asian nutmeg, mace and cardamom market decreased by -2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, saw a buoyant increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Production of Nutmeg, Mace And Cardamoms in Southern Asia

In value terms, nutmeg, mace and cardamom production rose to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of 36% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

India (X tons) constituted the country with the largest volume of nutmeg, mace and cardamom production, comprising approx. 73% of total volume. Moreover, nutmeg, mace and cardamom production in India exceeded the figures recorded by the second-largest producer, Nepal (X tons), fivefold. The third position in this ranking was taken by Sri Lanka (X tons), with an 8.8% share.

In India, nutmeg, mace and cardamom production expanded at an average annual rate of +9.2% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Nepal (+4.0% per year) and Sri Lanka (+8.7% per year).

The average nutmeg, mace and cardamom yield dropped to X kg per ha in 2022, with a decrease of -8.1% on 2021 figures. The yield indicated a remarkable increase from 2012 to 2022: its figure increased at an average annual rate of +5.9% 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 yield increased by +9.6% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 38%. Over the period under review, the nutmeg, mace and cardamom yield reached the peak level at X kg per ha in 2021, and then fell in the following year. 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 Southern Asia; stabilizing at the year before. The harvested area increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the harvested area increased by 13% 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 Southern Asia

After three years of growth, overseas shipments of nutmeg, mace and cardamoms decreased by -1.7% to X tons in 2022. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +54.7% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 27% against the previous year. As a result, the exports attained the peak of X tons, and then declined in the following year.

In value terms, nutmeg, mace and cardamom exports contracted notably to $X in 2022. Over the period under review, exports, however, recorded a moderate increase. The pace of growth appeared the most rapid in 2021 when exports increased by 44%. As a result, the exports reached the peak of $X, and then dropped sharply in the following year.

Exports by Country

India represented the main exporting country with an export of about X tons, which accounted for 60% of total exports. Nepal (X tons) ranks second in terms of the total exports with a 28% share, followed by Sri Lanka (9.1%). Bhutan (X tons) followed a long way behind the leaders.

Exports from India increased at an average annual rate of +4.7% from 2012 to 2022. At the same time, Sri Lanka (+4.7%), Bhutan (+1.6%) and Nepal (+1.5%) displayed positive paces of growth. Moreover, Sri Lanka emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +4.7% from 2012-2022. From 2012 to 2022, the share of India increased by +5.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest nutmeg, mace and cardamom supplier in Southern Asia, comprising 72% of total exports. The second position in the ranking was taken by Nepal ($X), with an 18% share of total exports. It was followed by Sri Lanka, with a 7.8% share.

In India, nutmeg, mace and cardamom exports increased at an average annual rate of +5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nepal (+0.3% per year) and Sri Lanka (+1.5% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, declining by -16.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 18%. The level of export peaked at $X per ton in 2021, and then dropped markedly 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 a decline in the export price figures.

Imports of Nutmeg, Mace And Cardamoms

Imports in Southern Asia

In 2022, after three years of growth, there was significant decline in overseas purchases of nutmeg, mace and cardamoms, when their volume decreased by -8.7% to X tons. Over the period under review, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 73%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, nutmeg, mace and cardamom imports declined to $X in 2022. In general, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 55% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped in the following year.

Imports by Country

India was the major importing country with an import of around X tons, which reached 50% of total imports. Bangladesh (X tons) held the second position in the ranking, distantly followed by Pakistan (X tons). All these countries together took near 44% share of total imports. Afghanistan (X tons) and Nepal (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +44.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Bangladesh ($X) and Pakistan ($X) were the countries with the highest levels of imports in 2022, with a combined 93% share of total imports. Afghanistan and Nepal lagged somewhat behind, together accounting for a further 6.9%.

Afghanistan, with a CAGR of +45.8%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in Southern Asia amounted to $X per ton, flattening at the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price 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, nutmeg, mace and cardamom import price increased by +63.0% against 2014 indices. The pace of growth was the most pronounced in 2019 when the import price increased by 23% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced slightly in the following year.

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 Bangladesh ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (+14.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of nutmeg, mace and cardamom consumption was India, accounting for 71% of total volume. Moreover, nutmeg, mace and cardamom consumption in India exceeded the figures recorded by the second-largest consumer, Pakistan, sevenfold. The third position in this ranking was occupied by Bangladesh, with a 7.8% share.
India remains the largest nutmeg, mace and cardamom producing country in Southern Asia, comprising approx. 74% of total volume. Moreover, nutmeg, mace and cardamom production in India exceeded the figures recorded by the second-largest producer, Nepal, fivefold. Sri Lanka ranked third in terms of total production with a 7.5% share.
In value terms, India remains the largest nutmeg, mace and cardamom supplier in Southern Asia, comprising 80% of total exports. The second position in the ranking was occupied by Nepal, with a 13% share of total exports. It was followed by Sri Lanka, with a 6.6% share.
In value terms, India, Bangladesh and Pakistan constituted the countries with the highest levels of imports in 2021, with a combined 94% share of total imports. Afghanistan lagged somewhat behind, accounting for a further 3.5%.
In 2021, the nutmeg, mace and cardamom export price in Southern Asia amounted to $12,456 per ton, rising by 17% against the previous year.
In 2021, the nutmeg, mace and cardamom import price in Southern Asia amounted to $9,764 per ton, remaining constant against the previous year.

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

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in Southern Asia, split by region and country
  • Trade (exports and imports) in Southern Asia
  • 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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030
  4. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY
    3. HARVESTED AREA AND YIELD BY COUNTRY
  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY
  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY
  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Afghanistan
    • Bangladesh
    • Bhutan
    • India
    • Maldives
    • Nepal
    • Pakistan
    • Sri Lanka
  12. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption, By Country, 2018–2024
    5. Production, In Physical Terms, By Country, 2012–2024
    6. Harvested Area, By Country, 2012-2024
    7. Yield, By Country, 2012-2024
    8. Imports, In Physical Terms, By Country, 2012–2024
    9. Imports, In Value Terms, By Country, 2012–2024
    10. Import Prices, By Country Of Destination, 2012–2024
    11. Exports, In Physical Terms, By Country, 2012–2024
    12. Exports, In Value Terms, By Country, 2012–2024
    13. Export Prices, By Country Of Origin, 2012–2024
  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Consumption, By Country, 2024
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Yield And Growth
    12. Exports And Growth
    13. Export Prices And Growth
    14. Market Size And Growth
    15. Per Capita Consumption
    16. Imports And Growth
    17. Import Prices
    18. Production, In Physical Terms, 2012–2024
    19. Production, In Value Terms, 2012–2024
    20. Area Harvested, 2012–2024
    21. Yield, 2012–2024
    22. Production, By Country, 2024
    23. Production, In Physical Terms, By Country, 2012–2024
    24. Harvested Area, By Country, 2024
    25. Harvested Area, By Country, 2012-2024
    26. Yield, By Country, 2012-2024
    27. Imports, In Physical Terms, 2012–2024
    28. Imports, In Value Terms, 2012–2024
    29. Imports, In Physical Terms, By Country, 2024
    30. Imports, In Physical Terms, By Country, 2012–2024
    31. Imports, In Value Terms, By Country, 2012–2024
    32. Import Prices, By Country, 2012–2024
    33. Exports, In Physical Terms, 2012–2024
    34. Exports, In Value Terms, 2012–2024
    35. Exports, In Physical Terms, By Country, 2024
    36. Exports, In Physical Terms, By Country, 2012–2024
    37. Exports, In Value Terms, By Country, 2012–2024
    38. Export Prices, 2012–2024

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