Please Wait.....
Report
Nutmeg - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 100 Pages I Mordor Intelligence
The Nutmeg Market size is estimated at USD 2.74 billion in 2024, and is expected to reach USD 3.59 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
Key Highlights
-The increase in international trade due to the high popularity of Asian cuisines such as Indian and Thai dishes among the Western community and the high growth in the oleoresin industry are some of the factors driving the market growth for nutmeg during the forecast period.
-Nutmeg is a spice plant with a significant economic value, particularly the nutmeg and flower portions (mace), which can be used to make nutmeg oil. Nutmeg oil is one of the most popular essential oils on the international market. Nutmeg from Indonesia and India has a competitive advantage in the global market due to its distinct aroma and high oil yield. Smallholder plantations oversee all of the nutmeg growing in India and Indonesia.
-In the year 2021, the total nutmeg exports were valued at USD 1441.39 Million. Guatemala, India, and Indonesia were the key producers and they held a share of more than 70% of the total exports in 2021. Middle East countries such as Saudi Arbia and United Arab Emirates along with the United States were the prime import destinations for nutmeg products. The demand for nutmeg for these destination is anticipated to increase during the forecast period owing to increasing consumption.
Nutmeg Market Trends
Increasing International Trade of Nutmeg is Driving the Market
Nutmeg is widely used in Asian cuisines and it is becoming popular in many parts of the world. Europe is one of the major importers of Nutmeg. The rising popularity of ethnic cuisines, such as Indian and Thai, has spurred the demand for spices such as nutmeg among food manufacturers.
In Indonesia, the nutmeg trade is geared more toward export than domestic consumption. Nutmeg is commonly converted into sweets and syrup in the local market to add value from raw to processed form. Because marketing is limited to production areas, the marketing opportunity for sweets remains enormous. Nutmeg is primarily grown in the southern state of Kerala, although it has lately moved to the eastern state of Andhra Pradesh and the northeastern region of India.
The European Union is one of the fastest-growing export markets for Indonesian nutmeg. However, the European Union applies severe laws (private standards) to all imported products, including nutmeg, particularly in terms of health and food safety. The European people's health-conscious culture drives them to seek natural ingredients in the food they consume. The consumption of Indonesian nutmeg in the European Union is divided into two categories: dry nutmeg (whole nutmeg and powder nutmeg) and dried mace. Whole dried nutmeg is widely used for flavoring in the food industry, meat and dairy products (sausages, soups, spice mixes, baked goods, eggnog, ice cream, etc), as well as in the home. The increasing consumption is anticipated to grow the nutmeg trade during the forecast period.
Asia-Pacific Dominates the Market
Asian countries are the key consumers of Nutmeg spice. The popularity of this spice is explained by the wide range of regional dishes using it as a major spice ingredient and the age-old tradition of using it in medicine. Guatemala, India, and Indonesia are the key producers and export markets for nutmeg. The growth in the Oleoresins industry has further augmented the market growth for nutmeg in the region. Oleoresins from spices such as nutmeg are interesting ingredients for food manufacturers to create ethnic dishes.
Nutmeg is produced as a commercial crop with other spices and crops in a multidrop scenario. It is grown primarily in homesteads in Kerala and provides significant revenue to households. According to the Directorate of Arecanut & Spices Development, over 50,000 farmers in Kerala are involved in nutmeg cultivation.
The large Asian community which includes India and Indonesia lives across different parts of the globe and uses nutmeg as an ingredient in the garam masala employed to make seasonal curry dishes. With growing interest in Asian cuisines, the demand for nutmeg spice in Asia - Pacific is expected to grow during the forecast period. Oleoresin extractions for nutmeg take place in countries, such as India and Sri Lanka; so they have export opportunities in the region. With the rise in demand from the international community, the market for nutmeg is expected to grow during the forecast period.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain Analysis
5 MARKET SEGMENTATION
5.1 Geography
5.1.1 North Amercia
5.1.1.1 United States
5.1.1.2 Canada
5.1.1.3 Guatamela
5.1.2 Europe
5.1.2.1 Netherlands
5.1.2.2 United Kingdom
5.1.2.3 Germany
5.1.2.4 Spain
5.1.2.5 Italy
5.1.3 Asia - Pacific
5.1.3.1 India
5.1.3.2 Indonesia
5.1.3.3 Vietnam
5.1.3.4 Srilanka
5.1.3.5 China
5.1.3.6 Japan
5.1.4 South America
5.1.4.1 Brazil
5.1.5 Middle-East and Africa
5.1.5.1 South Africa
5.1.5.2 Egypt
5.1.5.3 Saudi Arabia
5.1.5.4 United Arab Emirates
6 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security