Overview of the Global Market for Nutmeg, Mace And Cardamoms

Market Size for Nutmeg, Mace And Cardamoms

In 2022, the global nutmeg, mace and cardamom market decreased by -4.5% to $X, falling for the second year in a row after nine years of growth. In general, consumption, however, recorded a strong increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the global market failed to regain momentum.

Production of Nutmeg, Mace And Cardamoms

In value terms, nutmeg, mace and cardamom production rose to $X in 2022 estimated in export price. Over the period under review, production, however, saw a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 26%. Global production peaked 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 Guatemala (X tons), India (X tons) and Indonesia (X tons), with a combined 82% share of global production. Nepal, Sri Lanka, Lao People's Democratic Republic and Myanmar lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +20.3%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average nutmeg, mace and cardamom yield fell to X kg per ha, with a decrease of -11.8% compared with the previous year's figure. Over the period under review, the yield continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the yield increased by 16% against the previous year. As a result, the yield reached the peak level of X kg per ha. From 2021 to 2022, the growth of the average nutmeg, mace and cardamom yield failed to regain momentum. 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 worldwide; standing approx. at the year before. The harvested area increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the harvested area increased by 9.6%. The global harvested area peaked at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Exports of Nutmeg, Mace And Cardamoms

Exports

In 2022, overseas shipments of nutmeg, mace and cardamoms decreased by -0.7% to X tons, falling for the second consecutive year after four years of growth. In general, total exports indicated a tangible expansion 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 decreased by -4.9% against 2020 indices. The pace of growth was the most pronounced in 2020 with an increase of 38%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the global exports failed to regain momentum.

In value terms, nutmeg, mace and cardamom exports reduced markedly to $X in 2022. Over the period under review, exports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of 58% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the global exports remained at a somewhat lower figure.

Exports by Country

Guatemala (X tons) and Indonesia (X tons) represented the largest exporters of nutmeg, mace and cardamoms in 2022, recording approx. 39% and 28% of total exports, respectively. India (X tons) ranks next in terms of the total exports with a 12% share, followed by Nepal (5.5%). The following exporters - the Netherlands (X tons), Vietnam (X tons) and Sri Lanka (X tons) - each accounted for a 6% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +17.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Guatemala ($X), Indonesia ($X) and India ($X) constituted the countries with the highest levels of exports in 2022, with a combined 77% share of global exports. Nepal, the Netherlands, Sri Lanka and Vietnam lagged somewhat behind, together comprising a further 11%.

In terms of the main exporting countries, Vietnam, with a CAGR of +10.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global 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, declining by -21.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average export price increased by 32% against the previous year. The global export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+1.2%), while the other global leaders experienced more modest paces of growth.

Imports of Nutmeg, Mace And Cardamoms

Imports

For the fourth year in a row, the global market recorded growth in supplies from abroad of nutmeg, mace and cardamoms, which increased by 6.3% to X tons in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +101.2% against 2012 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 30%. Global imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, nutmeg, mace and cardamom imports shrank to $X in 2022. Over the period under review, imports posted resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of global imports remained at a lower figure.

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) represented the largest importers of nutmeg, mace and cardamoms, together making up 56% of total imports. The United States (X tons), Pakistan (X tons), Germany (X tons), the Netherlands (X tons), Egypt (X tons), Jordan (X tons) and Vietnam (X tons) held a little share of total imports.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and China ($X) constituted the countries with the highest levels of imports in 2022, with a combined 44% share of global imports.

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

Import Prices by Country

The average nutmeg, mace and cardamom import price stood at $X per ton in 2022, falling by -8.2% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by 28%. Over the period under review, average import prices hit record highs 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 ($X per ton), while China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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