
Asia - Nutmeg, Mace and Cardamoms - Market Analysis, Forecast, Size, Trends and Insights
Asia: Market for Nutmeg, Mace And Cardamoms 2023
Market Size for Nutmeg, Mace And Cardamoms in Asia
In 2021, the Asian nutmeg, mace and cardamom market decreased by -11.5% to $X for the first time since 2011, thus ending a nine-year rising trend. In general, consumption, however, recorded a buoyant increase. As a result, consumption reached the peak level of $X, and then reduced in the following year.
Production of Nutmeg, Mace And Cardamoms in Asia
In value terms, nutmeg, mace and cardamom production contracted to $X in 2021 estimated in export price. Overall, production, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 22%. As a result, production attained the peak level of $X, and then dropped in the following year.
The countries with the highest volumes of production in 2021 were Indonesia (X tons), India (X tons) and Nepal (X tons), together comprising 86% of total production. Sri Lanka, Lao People's Democratic Republic, Myanmar and Bhutan lagged somewhat behind, together accounting for a further 13%.
From 2012 to 2021, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Bhutan (with a CAGR of +12.1%), while production for the other leaders experienced more modest paces of growth.
In 2021, the average yield of nutmeg, mace and cardamoms in Asia fell modestly to X kg per ha, stabilizing at the previous year's figure. The yield figure increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when the yield increased by 11%. The level of yield peaked at X kg per ha in 2018; however, from 2019 to 2021, 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 2021, approx. X ha of nutmeg, mace and cardamoms were harvested in Asia; leveling off at 2020 figures. The harvested area increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 11%. Over the period under review, the harvested area dedicated to nutmeg, mace and cardamom production reached the peak figure at X ha in 2020, and then reduced in the following year.
Exports of Nutmeg, Mace And Cardamoms
Exports in Asia
In 2021, shipments abroad of nutmeg, mace and cardamoms increased by 21% to X tons, rising for the second consecutive year after two years of decline. Total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of 23% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.
In value terms, nutmeg, mace and cardamom exports surged to $X in 2021. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2020 with an increase of 40%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in years to come.
Exports by Country
Indonesia was the largest exporting country with an export of around X tons, which resulted at 54% of total exports. India (X tons) took the second position in the ranking, distantly followed by Nepal (X tons). All these countries together held near 32% share of total exports. Vietnam (X tons), Sri Lanka (X tons), Myanmar (X tons) and Bhutan (X tons) held a little share of total exports.
Exports from Indonesia increased at an average annual rate of +6.4% from 2012 to 2021. At the same time, Vietnam (+20.9%), Myanmar (+7.8%), Bhutan (+6.3%), India (+5.5%), Sri Lanka (+3.9%) and Nepal (+1.6%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing exporter exported in Asia, with a CAGR of +20.9% from 2012-2021. While the share of Indonesia (+2.7 p.p.) and Vietnam (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Nepal (-4.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Indonesia ($X), India ($X) and Nepal ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 87% share of total exports.
Among the main exporting countries, India, with a CAGR of +9.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
In 2021, the export price in Asia amounted to $X per ton, rising by 3.5% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 20%. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in years to come.
There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was India ($X per ton), while Myanmar ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+3.8%), while the other leaders experienced mixed trends in the export price figures.
Imports of Nutmeg, Mace And Cardamoms
Imports in Asia
In 2021, the amount of nutmeg, mace and cardamoms imported in Asia reached X tons, growing by 9.3% on the previous year's figure. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.4% against 2017 indices. The most prominent rate of growth was recorded in 2020 with an increase of 40% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.
In value terms, nutmeg, mace and cardamom imports contracted to $X in 2021. In general, imports showed prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 52% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then shrank in the following year.
Imports by Country
The countries with the highest levels of nutmeg, mace and cardamom imports in 2021 were China (X tons), the United Arab Emirates (X tons), India (X tons) and Saudi Arabia (X tons), together reaching 60% of total import. Vietnam (X tons) held a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by Bangladesh (5.7%) and Pakistan (5.7%). Jordan (X tons), Yemen (X tons), Iraq (X tons), Singapore (X tons), Syrian Arab Republic (X tons) and Kuwait (X tons) took a little share of total imports.
From 2012 to 2021, the biggest increases were in China (with a CAGR of +108.3%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest nutmeg, mace and cardamom importing markets in Asia were Saudi Arabia ($X), the United Arab Emirates ($X) and China ($X), with a combined 53% share of total imports.
China, with a CAGR of +84.9%, saw the highest rates of growth with regard to 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
The import price in Asia stood at $X per ton in 2021, which is down by -15.8% against the previous year. Import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the import price increased by 32% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020, and then plummeted in the following year.
Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+15.8%), while the other leaders experienced more modest paces of growth.
Base Year | Historical Period | Forecast Period | Units |
---|---|---|---|
2022 | 2012-2022 | 2023-2030 | US$, Tons |
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for nutmeg, mace and cardamom in 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.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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