U.S.: Market for Nutmeg, Mace And Cardamoms 2022

Market Size for Nutmeg, Mace And Cardamoms in the U.S.

In 2021, the U.S. nutmeg, mace and cardamom market increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +X% against 2017 indices. Nutmeg, mace and cardamom consumption peaked in 2021 and is likely to see gradual growth in years to come.

Exports of Nutmeg, Mace And Cardamoms

Exports from the U.S.

In 2021, after two years of growth, there was significant decline in overseas shipments of nutmeg, mace and cardamoms, when their volume decreased by -X% to X tonnes. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, the exports reached the peak of X tonnes, and then declined in the following year.

In value terms, nutmeg, mace and cardamom exports rose markedly to $X in 2021. In general, exports, however, recorded a slight decrease. The pace of growth appeared the most rapid in 2020 when exports increased by X% y-o-y. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Canada (X tonnes) was the main destination for nutmeg, mace and cardamom exports from the United States, with a X% share of total exports. Moreover, nutmeg, mace and cardamom exports to Canada exceeded the volume sent to the second major destination, Jamaica (X tonnes), fourfold. The third position in this ranking was occupied by the Netherlands (X tonnes), with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Canada totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jamaica (+X% per year) and the Netherlands (+X% per year).

In value terms, Canada ($X) remains the key foreign market for nutmeg, mace and cardamom exports from the United States, comprising X% of total exports. The second position in the ranking was occupied by the Netherlands ($X), with a X% share of total exports. It was followed by Jamaica, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Canada stood at -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+X% per year) and Jamaica (+X% per year).

Export Prices by Country

The average nutmeg, mace and cardamom export price stood at $X per tonne in 2021, with an increase of X% against the previous year. Over the period under review, the export price, however, saw a mild decrease. The growth pace was the most rapid in 2016 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was the Netherlands ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Nutmeg, Mace And Cardamoms

Imports into the U.S.

In 2021, overseas purchases of nutmeg, mace and cardamoms increased by X% to X tonnes, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of +X% over the period 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 2020 with an increase of X% year-to-year. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, nutmeg, mace and cardamom imports expanded significantly to $X in 2021. In general, imports enjoyed a moderate expansion. The pace of growth appeared the most rapid in 2020 when imports increased by X% y-o-y. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

Indonesia (X tonnes), India (X tonnes) and Guatemala (X tonnes) were the main suppliers of nutmeg, mace and cardamom imports to the United States, together accounting for X% of total imports. These countries were followed by Vietnam and Grenada, which together accounted for a further X 2012 to 2021, the biggest increases were in Vietnam (+X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest nutmeg, mace and cardamom suppliers to the United States were Guatemala ($X), Indonesia ($X) and India ($X), with a combined X% share of total imports. Vietnam and Grenada lagged somewhat behind, together comprising a further X terms of the main suppliers, Vietnam, with a CAGR of +X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average nutmeg, mace and cardamom import price amounted to $X per tonne, increasing by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X% y-o-y. Over the period under review, average import prices reached the maximum at $X per tonne in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Guatemala ($X per tonne), while the price for Vietnam ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guatemala (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform