The India nutmeg and mace market report covers historical market data from 2010-2020 and projections to 2030. The report also includes supply & demand and trade (import-export) market analysis. The decision matrix analysis helped in identifying the barriers and their implications on the value chain and different factors of relative significance to the India nutmeg & mace market are diligently tracked and their impact closely monitored for short, medium, and long-term market cycles. The report's contents cover an analysis of the aspects involved in the nutmeg and mace market such as the parent market, the evolution of the industry, innovative technologies in the manufacturing process, supply chain, and listing of key exporters.
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Table of Content
Sl. No. Content Page No.
1
INTRODUCTION
1.1 Objectives & Scope of the Study
1.2 Definitions & Economic Importance
1.3 Research Methodology
1.4 Factors and Decision Matrix Analysis
1.5 Limitations & Challenges
11-19
2 EXECUTIVE SUMMARY 20-24
3
COMMODITY/PRODUCT/MARKET OVERVIEW
3.1 Evolution/ Origin & Geographic/Agronomic Suitability
3.2 Nutmeg & Mace: Crop and Product Images
3.3 Nutmeg Crop Seasonality
3.4 Processing & Grading
3.5 Nutmeg & Mace Uses & Application Areas
25-37
4 INDIA: COUNTRY PROFILE 38-45
5 INDIA NUTMEG & MACE MARKET GROWTH FACTORS ANALYSIS 46-51
6
INDIA NUTMEG & MACE MARKET: SUPPLY ANALYSIS
6.1. Nutmeg (Green) Supply Analysis (Area & Production)
6.2. Nutmeg (Dry & Shelled) & Mace (Dry) Supply Analysis
6.3. State-wise Area & Production Of Nutmeg & Mace
52-61
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Table of Content
Sl. No. Content Page No.
7
INDIA NUTMEG & MACE MARKET: DEMAND ANALYSIS
7.1. Domestic Demand
7.1.1. Nutmeg (Dry)
7.1.1.1. Processed for Nutmeg Oil and Oleoresin
7.1.1.2. Nutmeg (Dry) Retail and Commercial Use
7.1.2. Mace (Dry)
7.1.2.1. Whole Mace Retail Sales
7.1.2.2. Food and Industrial Consumption of Mace
7.1.2.3. Processed for Mace Oil and Oleoresin
7.2. Export Demand
7.3. Nutmeg & Mace Supply Chain
7.4. Nutmeg & Mace Product Variants
62-74
8
INDIA NUTMEG & MACE MARKET: TRADE (EXPORT & IMPORT) ANALYSIS
8.1. Nutmeg Export & Import Trend
8.2. Mace Export & Import Trend
8.3. Top 10 Exporters of Nutmeg and Mace from India
8.4. U.S. Imports of Nutmeg and Mace (Value & Volume)
8.5. Netherland Imports of Nutmeg and Mace (Value & Volume)
75-98
9 INDIA NUTMEG & MACE MARKET: PRICE TREND ANALYSIS 99-104
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Table of Content
Sl. No. Content Page No.
10
COMPETITIVE ANALYSIS
10.1. List of Key Companies
10.2. Key Company Profiles
10.2.1. Synthite Industries Ltd.
10.2.2. Mane Kancor
10.2.3. Paras Spices Private Limited
10.2.4. Royal Spices (India) Private Limited
10.2.5 Immaculate Agro Spices Private Limited
10.2.6. Tit-bit Foods (India) Private Limited
10.2.7. Nedspice Group
10.2.8. AVT McCormick Ingredients Pvt. Ltd.
105-121
11 CONCLUSION (OPPORTUNITIES, SWOT ANALYSIS, AND CONCLUDING REMARKS) 122-125
12 APPENDIX 129-140
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List of Figures
Figure No. Figure Title Page No.
1 Nutmeg Crop Seasonality 28
2 India Population Dynamics, 2020 39
3 India Major Crop Area Trend, 2014 & 2019 41
4 India Rainfall Pattern (in MM) 42
5 India Livestock Population Dynamics 43
6 India: GDP Annual Growth & Exchange Rate Trend 44
7 India Spice & Spice Products Export Value & Volume (2008/09 to 2020/21) 47
8 Global Spices & Seasonings Market – An Overview 50
9 India Nutmeg Area and Production Trend, 2010-2030 53
10 India Nutmeg (Dry & Shelled) & Mace (Dry) Supply Trend, 2010-2030 (1000 Tonnes) 55
11 India Nutmeg (Dry & Shelled) and Mace (Dry) Production Trend, (1000 Tonnes), 2000-2030 57
12 India State-wise Nutmeg Area Trend, 2015-2020 (Ha.) 59
13 India State-wise Nutmeg Production Trend, 2015-2020 (Tonnes) 60
14 India Domestic Consumption of Nutmeg (Dry & Shelled), 2015-2025 (1000 Tonnes) 64
15 India Domestic Consumption of Mace (Dry), 2015-2025 (1000 Tonnes) 67
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List of Figures
Figure No. Figure Title Page No.
16 Nutmeg & Mace Distribution Channel in Domestic Markets 69
17 Nutmeg & Mace Distribution Channel in Importing Nations 69
18 India Nutmeg Prices Vs. PepsiCo Revenue Trend 70
19 Nutmeg-based Product Variants Available in the Market 71
20 Mace-based Product Variants Available in the Market 72
21 Nutmeg & Mace-based Product Variants Available in the Market 73
22 Global Imports of Nutmeg & Mace, Value (USD Million), 2016-2021 75
23 India Nutmeg & Mace Export, Value & Volume, 2010-2030 76
24 India Nutmeg & Mace Import, Value & Volume, 2010-2030 78
25 India Nutmeg & Mace Export Destinations Share (by Volume), 2020/21 80
26 India Imports of Nutmeg & Mace by Origin Share (by Volume), 2020/21 80
27 India Nutmeg Export Trend, by Value & Volume, 2000-2030 81
28 Top 10 Companies Exporting Nutmeg (Whole in shell & Shelled) from India, %share by Value 84
29 Top 10 Companies Exporting Nutmeg (Crushed or Ground) from India, %share by Value 85
30 India Nutmeg Import Trend, 2000-2030 86
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List of Figures
Figure No. Figure Title Page No.
31 India Mace Export Trend, by Value & Volume, 2000-2030 88
32 Top 10 Companies Exporting Mace (Neither Crushed nor Ground)) from India, %share by Value 90
33 Top 10 Companies Exporting Mace (Crushed or Ground) from India, %share by Value 91
34 India Mace Import Trend, by Value & Volume (2000-2030) 92
35 U.S. Imports of Nutmeg, by Value & Volume (2015-2021) 94
36 U.S. Imports of Mace, by Value & Volume (2015-2021) 95
37 Netherlands Imports of Nutmeg, by Value & Volume (2015-2020) 96
38 Netherlands Imports of Mace, by Value & Volume (2015-2020) 97
39 India Nutmeg & Mace Price Trend, Annual Average Prices (Cochin Market), 2005-2030 99
40 India Nutmeg (With Shell) Price Trend, Monthly Average Prices, 2016-2021 100
41 India Nutmeg (Without Shell) Price Trend, Monthly Average Prices, 2016-2021 101
42 India Mace Price Trend, Monthly Average Prices, 2016-2021 102
43 Accreditation & Affiliations In India Spices Industry (Domestic & International) 139
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List of Tables
Table No. Table Title Page No.
1 India Nutmeg & Mace Market Production Volume Details (2015-2025) 22
2 India Nutmeg & Mace Production, Volume (Thousand Tonnes) (2015-2025) 22
3 India Nutmeg Market, Demand Volume Details (Thousand Tonnes) (2015-2025) 23
4 India Mace Market, Demand Volume Details (Tonnes) (2015-2025) 23
5 India Nutmeg (Green) Area (1000 Ha.) & Production (1000 Tonnes) (2010-2030) 54
6 India Nutmeg (Dry & Shelled) and Mace (Dry) Supply Trend (1000 Tonnes) (2010-2030) 56
7 India State-wise Nutmeg and Mace (Green) Area, Production, & Yield, 2015-2020 58
8 India Nutmeg Supply and Demand Analysis, Volume in Tonnes (2015-2025) 63
9 India Nutmeg Consumption Trend (1000 Tonnes) (2015-2025) 65
10 India Mace Supply and Demand Analysis, Volume in Tonnes (2015-2025) 66
11 India Mace Consumption Trend (Tonnes) (2015-2025) 68
12 India Nutmeg & Mace Export Trend (2010-2030) 77
13 India Nutmeg & Mace Import Trend (2010-2030) 79
14 India Nutmeg Export Trend (2010-2030) 82
15 India Nutmeg Export Destinations by Volume (in %share) (2016-2020) 83
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List of Tables
Table No. Table Title Page No.
16 Top 10 Companies Exporting Nutmeg from India in 2021 (Nutmeg Neither Crushed Nor Ground (in Shell & Shelled)) 84
17 Top 10 Companies Exporting Nutmeg from India in 2021 (Nutmeg Crushed or Ground) 85
18 India Nutmeg Import Trend (2010-2030) 87
19 India Mace Export Trend, by Value & Volume (2010-2030) 89
20 Top 10 Companies Exporting Mace from India in 2021 (Mace Neither Crushed Nor Ground) 90
21 Top 10 Companies Exporting Mace from India in 2021 (Mace Crushed or Ground) 91
22 India Mace Import Trend (2010-2030) 93
23 Top 10 Companies Exporting Nutmeg from India 105
24 Top 10 Companies Exporting Mace from India 106
25 List of Companies in Spices Industry 107
26 Company Recent Developments 117
27 Key Global Spices Companies 129
28 List of Associations 132
29 Key Spices Produced in India 133
30 Key Companies involved in Global Nutmeg & Mace Trade 134
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Acronyms
Acronym Detail
E Estimated
P Projected
$EC Eastern Caribbean Dollars
FAO Food and Agricultural Organization
GCNA Grenada Co-operative Nutmeg Association
Kg Kilogram
lbs Pound
MT Metric Tonnes
GDP Gross Domestic Product
FOB Free on Board
U.K. United Kingdom
WHO World Health Organization
USD United States Dollar
APAC Asia Pacific
ASTA American Spice Trade Association
ESA European Spice Association
ITC International Trade Centre
NAFTA North American Free Trade Agreement
FSSAI Food Safety and Standards Authority of India
11. ToC
The study's objectives and scope are highlighted in the introduction chapter. This chapter also includes a definition of the study market as
well as its economic significance.
1 INTRODUCTION
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Scope of the Study
Primary Areas/Elements of Research & Analysis includes:
Competitive Assessment
Supply & Value Chain & Regulatory Framework Competition Mapping
Key Findings & Conclusion
Market Overview Market Trends & Drivers Analysis
Market Size Estimations & Forecasts Pricing Analysis
Trade (Export & Import) Analysis
To define, analyze, and measure the India nutmeg & mace market by examining it in terms of size, segments, trends, trade, and competitive
assessment.
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Objectives of the Study
To define, measure, and strategically analyze India nutmeg & mace commodity market with respect to supply-demand patterns, growth trends, and trade
(export & import) details
To investigate the structure, conduct, and performance of India nutmeg & mace market
To estimate and forecast market size in terms of volume (tonnes) and value (USD) for India nutmeg & mace
To strategically analyze country trade patterns that includes export and import of India nutmeg & mace
To provide detailed mapping of supply chain, pricing analysis, and regulatory details for India nutmeg & mace commodity
To strategically profile key players within the India nutmeg & mace market and to comprehensively analyze their products, services, and core competencies
To analyze market opportunities for stakeholders by identifying high-growth segments of India nutmeg & mace market
This research examines India nutmeg and mace as a commodity, with supply-demand and trade activities are measured in terms of value (USD) and volume (tonnes).
This report will provide detailed information to all stakeholders engaged in the nutmeg and mace supply chain.
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Definitions and Economic Importance
Source: Research Publications and StatLedger Analysis
Product Definition
Nutmeg (botanical name – Myristica fragrans) belongs to the family Myristicaceae. It produces two
separate spices, namely nutmeg and mace. Nutmeg is the kernel of the seed, and mace is the net-like
crimson-coloured leathery outer growth (aril) that covers the shell of the seed. Nutmeg and mace both
are used to flavor foods and beverages. They are used in a variety of sweet and savory dishes and as
medicine.
Economic Importance
Nutmeg plant economic value part is its fruit, which consists of flesh (77.8%), mace (4%), kernel
(5.1%), and seed (13.1%), and the most valuable parts are mace and seed. Nutmeg oil, which is the
essential or volatile oil of nutmeg, is approximately 12% by weight of the nutmeg seed.
Content
Common Name Country/Language
Jouza at-Teeb Arabic
Dou kou shu China
Jaiphal India
Muscade French
Muskatnu German
Moschokarido Greek
Pala Indonesia
Noce moscata Italian
Moscada Spanish
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Years Considered and Stakeholders Details
Years Considered for the Study:
The study has covered strategically analyzed market information related to nutmeg & mace commodity.
2000-2020
HISTORICAL YEARS
2021
BASE YEAR
2022
ESTIMATED YEAR
2023-2030
PROJECTED YEARS
Historical data from the year 2000 are
considered in estimation and projection
in this report.
Key Participants/Entities in the Supply Chain:
Key participants in the nutmeg & mace and by-products supply chain are listed below:
• Farmers/ crop producers
• Nutmeg & mace R&D majors, processors & procurers, and suppliers
• Nutmeg & mace traders, exporters, importers, distributors, and wholesale traders
• Nutmeg & mace end-users such as spice and condiments, confectioneries, pharmaceuticals, soft drinks manufacturers, personal care and cosmetics products
manufacturers, etc.
• Government organizations, NGO’s, associations, and industry bodies
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Research Approach
StatLedger Approach
✓ Understanding problem statement
✓ Feasibility check
✓ Project Acceptance
Linking Thoughts
✓ Background Study
✓ Research Sources
✓ Authenticity Check
Project Setup & Approach
✓ Analysis
✓ Data & Information Triangulation
✓ Validation
Primary Interviews
✓ Discussion Guide
✓ Cold calling & Mailing
✓ StatLedger Experts Panel
Internal Discussions
✓ Study Findings
✓ Solution Generation
✓ Recommendations
Outcome
✓ Revenue Strategies
✓Competitive Strategy Building
✓ Sustainability Models
1
2
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5
6
Research Design
Sample Pages
Research Methodology
The India Nutmeg & Mace Market research report is a result of thorough
secondary and primary research, followed by various data triangulation methods
and proprietary market estimation models. The figure shown here highlights the
research steps involved in conducting syndicated research study.
The report is an outcome of series of information and data collected and compiled
by StatLedger analysts through different means, including but not limited to,
▪ consolidating the existing research with information gathered from published
secondary sources (such as company websites, industry organizations &
associations, trade press, and national statistics),
▪ e-mail interactions or telephonic interviews with market participants/ players,
industry experts, exporters, and other supply chain stakeholders to collect the
information for completing the project;
▪ making inquiries with relevant government departments, associations/
organizations, regulatory bodies, etc.; and
▪ gathering a variety of published public information.
Post gathering the data and information through primary & secondary research,
market size estimation is performed by both top-down and bottom-up
approaches. Data triangulation carried out to further validate and strengthen the
findings to develop accurate and detailed market intelligence reports.
In analyzing market data, StatLedger take into account of various factors, such as
global and domestic economic growth, legislative changes, taxation changes,
social changes, product lifecycle, export and import trends, and the competitive
environment of the industry.
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Factors & Decision Metrix Analysis
NUTMEG & MACE MARKET
Crops under Cultivation
Economy Growth Farmer Profit Realization
End-use segments
Supply chain Patterns
Trade Revenue
Trade Patterns
Government Policies
Exchange Rates
Manufacturing Activities
Key Players in the Industry
Population
Technology Adoption Trend
Agricultural Land Holding
Weather Pattern
Farmer Spending Pattern
Factor analysis tool is applied to investigate the relationship between dependent and independent variables, to understand & analyze the complex behavior/pattern or
concepts that are not easily measured directly by collapsing a large number of variables into a few interpretable underlying factors.
Factors Considered for Nutmeg & Mace Commodity Market Study:
Factors given in the diagram above have a significant impact on the nutmeg & mace commodity market and are considered in market size estimation and forecasting.
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Limitations and Challenges
Assumptions:
The following assumptions are made to complete the overall market engineering process of the India nutmeg & mace market.
Limitations & Challenges:
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Definitions
HS Codes Referred:
HS Code Product Description
XX Nutmeg Neither Crushed Nor Ground
XX Nutmeg Neither Crushed Nor Ground (in Shell)
XX Nutmeg Neither Crushed Nor Ground (Shelled)
XX Nutmeg Crushed or ground
XX Mace
XX Mace Neither Crushed Nor Ground
XX Mace Crushed or Ground
XX Nutmeg Oil
XX Nutmeg Oleoresin and Butter
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▪ India is the world’s largest producer and consumer of spices and is also one of the leading spice exporting country. According to Spices Board of India,
spices exports from India witnessed a CAGR of 11.53% by volume and 9.21% by value (in terms of USD) during the period from 2010/11 to 2020/21. During
2020/21, a total of 1,565 thousand tonnes of spices and spice products valued USD 3.62 billion (INR 2.72 billion) have been exported from the Country. India
exports of spices & spice products attained an all-time record in terms of both volume and value in 2020/21, registering an increase of 30% in volume, 17%
in dollar terms (23% in rupee terms) of value compared to 2019/2020 exports.
▪ India produces nearly 12-15 thousand tonnes (with shell) of nutmeg and mace annually from an average area of 18-24 thousand hectares. India production
is not sufficient to meet its domestic requirement of mace and hence, nearly xx% of it’s mace requirement is met through the imports especially from
Indonesia.
▪ Kerala is the largest contributor of nutmeg & mace production and accounted for XX% share in India total production in 2020/21.
▪ Nutmeg and mace exports accounted for a share of XX% by volume and XX% by value (INR terms) in India total spice and spice products exports in
2020/21.
▪ India exported xx thousand tonnes of nutmeg and mace valued at INR 1.91 billion in 2020/21 (in which 98% is nutmeg & 2% is mace). UAE was the largest
importer and accounted for XX% share in India’s total exports of nutmeg and mace in 2020/21, followed by USA and Nigeria. Top 10 countries imports
cumulatively accounted for a share of XX% (by volume) in India’s exports of total nutmeg and mace in 2020/2021. Whole nutmeg and mace (neither crushed
nor grounded) exports accounted for XX% in 2020-2021.
▪ India imported xx thousand tonnes of nutmeg and mace worth of INR XX billion in 2020/21. Imports majorly comes from Indonesia and Sri Lanka. India
majorly imports mace to meet the domestic requirement where domestic production is not sufficient. On the other hand, nutmeg and mace imports are also
intended to meet the re-export purpose of India traders.
▪ Nutmeg and mace prices reached a peak price levels of 2013/2014. Nutmeg (without shell) prices stood at INR xx per kg in 2019-2020 due to the reduced
demand during COVID-19 period. Prices have recovered in 2020-2021 towards INR xx per kg on rising demand from major application sectors locally and
internationally.
Source: StatLedger Analysis
Executive Summary: Key Findings & Insights of the Study
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India Nutmeg & Mace – Key Insights & Findings
Source: StatLedger Analysis
• Nutmeg (dry & shelled) & mace (dry) consumption has remained mostly with a steady growth from
2006 and 2017 and witnessed a gradual increase for 2018 & 2019.
• The total demand stood at XX thousand tonnes in 2020.
• India nutmeg (green) production stood at XX thousand tonnes in 2020.
• Nutmeg (green) production is projected to expand at CAGR of XX% during the forecast period
from 2021 to 2030
INDIA
NUTMEG & MACE
EXPORTS
CONSUMPTION
PRODUCTION
AREA
• India nutmeg area harvested stood at XX thousand hectares in 2020.
• Area under nutmeg plantation is projected to expand at CAGR of XX% during the forecast period from 2021 to 2030
• India exported XX thousand tonnes of nutmeg and mace valued at INR XX billion in 2020/21. UAE is the major export
destination for India nutmeg & mace commodity.
• India imported XX thousand tonnes of nutmeg and mace valued at INR XX billion in 2020/21.
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India: Nutmeg & Mace Market Details (2015-2025)
India Nutmeg & Mace Market Production Volume Details (2015-2025)
Table 01:
Source: StatLedger Analysis
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
%CAGR
(2020-2025)
Area (1000 Ha) xx xx xx xx xx xx xx xx xx xx xx xx
Production
(with shell 1000 Tonnes)
xx xx xx xx xx xx xx xx xx xx xx xx
Yield (Kg/Ha) xx xx xx xx xx xx xx xx xx xx xx xx
India Nutmeg & Mace Production, Volume (Thousand Tonnes) (2015-2025)
Table 02:
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
%CAGR
(2020-2025)
Nutmeg
(Without Shell)
xx xx xx xx xx xx xx xx xx xx xx xx
Mace (Dry) xx xx xx xx xx xx xx xx xx xx xx xx
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India: Nutmeg & Mace Market Consumption Demand Details (2015-2025)
India Nutmeg Market, Demand Volume Details (Thousand Tonnes) (2015-2025)
Table 03:
Source: StatLedger Analysis
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
%CAGR
(2020-2025)
Whole Nutmeg Retail
Sales
xx xx xx xx xx xx xx xx xx xx xx xx
Domestic Grounded
Nutmeg Consumption
xx xx xx xx xx xx xx xx xx xx xx xx
Processed for Nutmeg Oil
& Oleoresin
xx xx xx xx xx xx xx xx xx xx xx xx
India Mace Market, Demand Volume Details (Tonnes) (2015-2025)
Table 04:
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
%CAGR
(2020-2025)
Whole Mace Retail Sales xx xx xx xx xx xx xx xx xx xx xx xx
Food & Industrial
Consumption
xx xx xx xx xx xx xx xx xx xx xx xx
Mace Processing for Oil
& Oleoresin
xx xx xx xx xx xx xx xx xx xx xx xx
25. ToC
This chapter provides contextual information on the properties of nutmeg crop, as well as its evolution, seasonality of crop, and cultivation & processing practices.
Properties and economic value of nutmeg & mace, oil, and meal and nutritional content of these are summarized.
3 COMMODITY OVERVIEW
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Commodity Brief: Evolution/ Origin & Geographic/ Agronomic Suitability
Evolution/ Origin
Nutmeg (Myristica spp.) belongs to the Myristicaceae family, consists 50 genera and 250 species. Myristica fragrance has the most economic value among all the
species and is originally from the Maluku Archipelago (the Banda Islands, Malaysia). Therefore, Maluku has an important role in the world economy as a producer of
high-quality of nutmeg. Nutmeg is grown in the tropical area of Asia, America, and Africa. The main countries of production of nutmeg are Indonesia, Grenada, Sri
Lanka, and India. There are two types of mace and nutmeg, West Indian (from Grenada) and East Indian (from Indonesia).
Geographic/ Agronomic Suitability and Crop Cultivation
The nutmeg tree is a large evergreen that grows to about 18 meters tall. It requires deep, well-drained loamy sandy soil and should be grown in the shade for the
first two to three years. The optimal growing temperature is between 20-30°C and the annual rainfall should be between 1500-2500mm.
Yield depends on the size and the age of the tree. Trees will start to bear fruit from around five to seven years old. The yield will increase considerably until the tree
is about twenty-five (peak period reaches after 20 years) and then more slowly until it reaches its maximum capacity at around thirty-five to forty years of age. Yields
can be above ten thousand nuts per tree.
Source: Research Publications and StatLedger Analysis
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Nutmeg & Mace: Crop and Product Images
Source: Research Publications and StatLedger Analysis
Nutmeg Tree Nutmeg Fruits
Nutmeg Fruit
Nutmeg & Mace
A fresh fruit will weigh around 60g while its seed
weighs 6-7g and mace weighs around 3-5g.
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Nutmeg Crop Seasonality
Nutmeg Crop Seasonality
Figure 01:
Harvesting
The tree starts to bear fruit when it is 5-8 years old. The fruits are ready for harvest in about 9 months after flowering.
On average, a healthy tree produces about 2,000 fruits per year, however the number of fruits produced can range
from a few hundred to over 10,000. When the fruit is fully ripe, the outer husk (pericarp) splits in two, revealing a
purplish-brown lustrous seed encircled by a red aril. Before harvesting, the fruits are usually left to split and fall to the
ground. They should be harvested as soon as possible, or the fruit's underside may get discoloured and possibly
mouldy. A tall pole is used in some locations to harvest opened pods directly from the tree. This produces a higher-
quality yield, but it may also harm blooms and younger fruit.
There are two peak periods of production in Grenada: January to March and June to September (peak harvest period).
Fruits are collected on a daily basis throughout this period. Fallen fruits are retrieved every two to three days for the
rest of the year.
In India, the main harvesting season is from June to August, while in Indonesia, the harvesting season lasts from May
to December. March and August through October are the peak harvest seasons in Indonesia.
Source: Research Publications and StatLedger Analysis
Country Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Indonesia
India
Sri Lanka
Grenada
Harvest
Crop Stages in India
Crop Stage Period
Non flowering Sept
Bud initiation Oct-Nov
Fruit development Dec-Mar
Fruit maturation Apr-May
Harvest Jun-Aug
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Processing
Primary Processing (Nutmeg Green)
Fruits are gathered and delivered to a processing facility. The mace (aril) must first be separated from the rest of the seed. By cutting the attachment of the red aril
(mace) to the base of the nut with a little pointed knife, the scarlet aril (mace) encircling the nut is removed (nutmeg). The nut must be handled with care to avoid
damage. Tipping the nuts onto a sloping cement floor from a height of three to four metres is an alternative way of shelling the nuts. Another alternative is to soak
the nuts in water for four to twelve hours before pressing the nut out with your thumb and fingertip.
Mace
Mace is a thin lacy substance that covers the kernel and accounts for only a little portion of its weight. Only 3-3.5kg of mace is found in every 100kg of nutmeg
(varies in producing countries). The amount of volatile oil in mace determines its quality. Mace is available in whole, broken, and ground forms on the market.
The mace is separated, flattened by hand, and dried in the sun on mats. This can take anything from two to four hours. Mace is cured by storage in the dark for four
months. This results in a brittle, pale yellow mace that commands a high price and is graded by size; the larger the mace, the higher the premium. The mace can be
sorted and packed after it has been graded.
Commercial mace consists of flattened lobed pieces, 2.5cm long and about 1mm thick. It has a nutmeg-like flavour and scent, but is more delicate.
Source: Research Publications and StatLedger Analysis
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Processing
Source: Research Publications and StatLedger Analysis
Fresh ripened fruits (in about 6-
8 months)
Nutmeg seed with
mace
Blanch in hot water at
750C for 2-5 minutes
Dried for 4 to 8 weeks under
sun/mechanical dryers at 40-
500C for about 5-6 hours
Dry in oven at 55-600C for about 3-4
hours
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Processing
Nutmeg
Green nutmegs are sorted to remove any broken, discolored, rotten, waterlogged, or mouldy seeds. The nutmegs are spread out to dry in the sun in their shells.
They are turned each day to prevent fermentation. The nutmegs are sufficiently dry when they rattle inside the shell. The drying time depends on the external
temperature, humidity, and airflow across the nutmegs, but generally takes about one week. Sometimes artificial dryers are used to speed up the process.
To produce shelled nutmegs, the dried seeds are cracked by tapping the end of the nuts with a small wooden mallet. If the nuts are tapped on the side there is a
possibility that the kernel may be bruised. Cracking the shell is often done by a centrifugal type of machine. The nuts are forced against the inside of the drum which
causes the shell to crack. After cracking the shells, the nuts are sorted. Whole kernels are separated from the broken pieces of kernel.
Quality Control and Grading of Nutmeg
The dried seeds are sorted using the flotation method. Lighter kernels (which are generally unsound) float to the surface of a tank and can be removed. The sound
kernels are sorted based on their quality and size. Good quality whole kernels are separated from the lower quality and broken kernels.
Grading
Nutmegs are graded according to their size. Sizing can be carried out using different mesh-sized sieves. Larger nutmegs (weighing about 8g) are considered
superior and are traded at a higher price. High quality or sound whole nutmegs are traded in grades which refer to their size in numbers of nutmegs per pound: 80s,
110s and 130s (110 to 287 nuts per kg), or ‘ABCD’ which is an assortment of various sizes.
Source: Research Publications and StatLedger Analysis
Nutmeg and mace are classified by origin (East Indian nutmeg and West Indian nutmeg) and grade. Whole nutmegs are grouped under three broad
quality classifications:
▪ Sound: Nutmegs which are used mainly for grinding and, to a lesser extent, for oleoresin extraction.
▪ Substandard: Nutmegs which are used for grinding, oleoresin extraction and essential oil distillation.
▪ Distilling: Poor-quality nutmegs used for essential oil distillation.
32. 32
Sample Pages
Processing
Packaging and Storage
Sorted kernels are bagged and labelled appropriately. They are usually packed into Hessian sacks or gunny bags. Nutmegs are usually sold whole, either with or
without the shell. Ground nutmeg is also available, but this is generally of inferior quality and can easily be adulterated. The taste and aroma of ground nutmeg
deteriorate very rapidly. Dried whole nutmegs have a long shelf life if they are stored in a dry place away from sunlight and insect infestation.
Adulterants
There are two nutmeg species that are found as adulterants of true nutmeg or mace: M. argentea (Macassar Nutmeg, Papua Nutmeg) from New Guinea and M.
malabarica (Bombay Nutmeg, Wild Nutmeg) from South India. The latter lacks fragrance, while the former has a very pungent aroma. Both adulterants can be
identified by the shape of their seeds: true Banda nutmegs are shaped like an egg while the two other species have seeds that are more acorn shaped than egg-
shaped.
Quality Specifications of India Whole Nutmeg
Source: Research Publications and StatLedger Analysis
Specification
Grades
AB Quality ABCD Quality
Quality AB ABCD
Appearance Whole nutmeg Whole nutmeg
Pieces Count per Kg. 200 To 215 Pieces Per Kg 250 To 260 Pieces Per Kg
Moisture 10% To 12% Maximum 10% To 15% Maximum
Aflatoxin 10% To 12% PPB 10% To 15% PPB
Broken 2% To 3% Maximum 2% To 3% Maximum
33. 33
Sample Pages
Nutmeg & Mace Uses & Application Areas
Content
Source: Research Publications and StatLedger Analysis
Forms or Derivatives of Nutmeg & Mace
Nutmeg
Mace
xx
xx
xx
xx
xx
xx
Products Made From Nutmeg
xx
xx
xx
xx
xx
xx
xx
xx
Sources of Trimyristin
Source % of Trimyristin
xx 76.7%
xx 19.9%
xx 17.5%
xx 14.1%
xx 6.5%
xx 3.0%
xx 1.0%
34. 34
Sample Pages
• Cosmetic industry: perfumes, male fragrances, after-shave lotion
• Food and Drink Industry- Meats, syrup, candies,
• Liqueur, Coco-cola
• Pharmaceutical Industry - Vicks rub, cough syrups, breathing tissues,
herbal balms, dental creams
• Most importers distil their own essential oil for the cosmetics
• Pharmaceutical purposes: ointments, shampoos, hand lotion, soaps,
plasters, candles, fatty acid derivatives
• Extracted with non-polar solvent (Flavoring processed foods)
• Extracted with polar solvent “Absolut of Nutmeg”
• Industrial use for flavoring
• Food products
• Meat products: sausages, frankfurters, bologna, soups, prepared
sauces, ketchup
• Dairy products: eggnog, ice cream, milk pudding
• Alcoholic Beverages: Rum punch
• Baking Products
• Domestic Culinary Use
Nutmeg Application Areas
Source: Research Publications and StatLedger Analysis
Nutmeg Seed
Whole Nutmeg Ground Nutmeg
Oleoresins
Butter
Essential Oils
Content
35. 35
Sample Pages
• Special gum extract used in perfumes, scented soaps, denture
and chewing gum
• Flavored processed foods and baking products
• Industrial culinary use as flavoring
• Sweet foods, cakes, doughnuts, fruit pies
• Dairy Products
• Cigarettes
• Chewed to mask foul breath
• Domestic culinary uses
Mace Application Areas
Source: Research Publications and StatLedger Analysis
Mace
Whole Ground
Oleoresins
Essential Oil
Content
36. 36
Sample Pages
The Principal Commercial Products Obtained from Nutmeg
Source: Research Publications and StatLedger Analysis
Nutmeg Fruit
Whole Nutmeg Seed Whole Mace
Ground Nutmeg Ground Mace
Volatile Oil Fixed Oil or Butter Oleoresins Volatile Oil Oleoresins
Trimyristin
Myristic Acid Glycerol
Camphene, d-Pinene,
Dipentene, Coriandrol, d-
Borneol, i-Terpineol,
Geraniol, Myristiein,
Safrole, Eugenol, Iso-
eugenol
37. ToC
This chapter provides country’s overview on macro indicators (GDP, Population Dynamics, etc.), agriculture & land use pattern, rainfall
details, and others.
4 INDIA: COUNTRY PROFILE
38. 38
Sample Pages
India: Country an Overview
Content
Source: CIA, World Bank, IMF, and StatLedger Analysis
India Economic Indicators
GDP (Current Prices) USD 2.71 Trillion
2020
Real GDP Growth Rate (y/y) -8%
2020
Rank in Global GDP 6
2020
Agriculture GDP Composition 16%
2019
Population (in Billion) 1.38
2020
Population Share in Global 17.70%
2020
Population Growth Rate (2015-2020) 1.04%
Labor Force (Million) 494.73
2020
Agriculture Labor Force 42.6%
2019
Merchandise Exports USD 276.23 Billion
2020
Merchandise Imports USD 371.92 Billion
2020
Ease of Doing Business Rank 63
2020
Country Fiscal Year 1 April – 31 March
39. 39
Sample Pages
India: GDP Annual Growth & Exchange Rate Trend
India: GDP Annual Growth & Exchange Rate Trend
Figure 06:
-10
-5
0
5
10
15
Annual
%
Change
India World
India GDP Growth Trend (2015-2026)
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14%
16%
40
45
50
55
60
65
70
75
80
Y-o-Y
%change
USDINR
USDINR Y-o-Y%Change
India Currency Performance (2010-2021)
Content Content
As on Aug 2021
Source: Related Research Publications, IMF, and StatLedger Analysis
40. ToC
This chapter provides India nutmeg and mace market growth factors analysis.
5 INDIA NUTMEG & MACE MARKET: GROWTH FACTORS
41. 41
Sample Pages
Spices Industry an Overview
Source: Related Research Publications, Yes Bank Publication, and StatLedger Analysis
Spices product range has evolved over time with technological advancement and interventions. The whole spice market can be divided into six broad categories.
Trade Segments for Spices
Content
Nutraceuticals
Oleoresins
Seasonings
Blended Spices
Ground Spices
Whole/Straight Spices
Content
42. 42
Sample Pages
India: Spices Export Trend Analysis
India Spice & Spice Products Export Value & Volume (2008/09 to 2020/21)
Figure 07:
Content
Source: Related Research Publications and StatLedger Analysis
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
0
200
400
600
800
1000
1200
1400
1600
1800
2000
Value
(in
USD
Billion)
Quantity
(in
1000
Tonnes)
Quantity (1000 Tonnes) Value (USD Billion)
43. 43
Sample Pages
India: Spices Market an Overview
Source: Related Research Publications and StatLedger Analysis
Content
Key Players
Brands
Customer Countries
MTR
MDH
Badshah
Suhana
Eastern Masala
U.S.
Catch
Everest
Ramdev
Others
China
UAE & Oman
Malaysia
Saudi Arabia
U.K. & Germany
South Africa
Australia
New Zealand
West Asia
Sri Lanka East Africa
Top 10 Exported Spices & Spice Products in 2020/21 (In terms of value):
Chilli, Mint products, Spice Oils & Oleoresins, Cumin, Turmeric, Pepper, Curry powders/paste, Cardamom
seeds, other spices (Tamarind, Asafoetida, and Cassia), and Garlic.
Content
Content
45. 45
Sample Pages
Global Spices & Seasonings Market – An Overview
Global Spices & Seasonings Market – An Overview
Figure 08:
Content
Source: Related Research Publications and StatLedger Analysis
North America
Europe
Asia Pacific
South America
Middle East & Africa
Global Spices & Seasonings Market, 2020
Content
Asia
Italian
Mexican
Others
Global Ethnic Food Market, 2020
46. ToC
This chapter provides India nutmeg and mace supply scenario. It includes information on area harvested, production, and yield trend details
for nutmeg and mace commodity.
6 INDIA NUTMEG & MACE MARKET: SUPPLY ANALYSIS
47. 47
Sample Pages
India: Nutmeg & Mace Market
Content
Source: Research Publications and StatLedger Analysis
Local Names of Nutmeg in India:
• Jaiphal (Hindi)
• Jaadhikai (Tamil)
• Jajikayi (Telugu)
• Jayiphal (Gujarati)
48. 48
Sample Pages
India Nutmeg Area and Production Trend, 2010-2030
Figure 09:
Content
Source: Research Publications and StatLedger Analysis
India: Nutmeg & Mace Supply Analysis (Area & Production)
49. 49
Sample Pages
India: Nutmeg (Green) Area & Production Trend
Content
India Nutmeg (Green) Area (1000 Ha.) & Production (1000 Tonnes) (2010-2030)
Table 05:
Source: Research Publications and StatLedger Analysis
Year Area Production
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year Area Production
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
51. 51
Sample Pages
India: Nutmeg (Dry & Shelled) & Mace (Dry) Supply
Content
India Nutmeg (Dry & Shelled) and Mace (Dry) Supply Trend (1000 Tonnes) (2010-2030)
Table 06:
Source: Research Publications and StatLedger Analysis
Year Nutmeg Mace
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year Nutmeg Mace
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
52. 52
Sample Pages
India: Nutmeg (Dry & Shelled) & Mace (Dry) Production Trend
India Nutmeg (Dry & Shelled) and Mace (Dry) Production Trend, (1000 Tonnes), 2000-2030
Figure 11:
Source: Research Publications and StatLedger Analysis
53. 53
Sample Pages
Attribute State 2015 2016 2017 2018 2019 2020
%CAGR
(2015-2020)
Area
(Ha.)
Kerala xx xx xx xx xx xx xx
Karnataka xx xx xx xx xx xx xx
Andaman Nicobar xx xx xx xx xx xx xx
Others xx xx xx xx xx xx xx
India Total xx xx xx xx xx xx xx
Production
(Tonnes)
Kerala xx xx xx xx xx xx xx
Karnataka xx xx xx xx xx xx xx
Andaman Nicobar xx xx xx xx xx xx xx
Others xx xx xx xx xx xx xx
India Total xx xx xx xx xx xx xx
Yield
(Kg/Ha)
Kerala xx xx xx xx xx xx xx
Karnataka xx xx xx xx xx xx xx
Andaman Nicobar xx xx xx xx xx xx xx
Others xx xx xx xx xx xx xx
India Total xx xx xx xx xx xx xx
India: State-wise Area & Production Of Nutmeg & Mace (Green)
Content
India State-wise Nutmeg and Mace (Green) Area, Production, & Yield, 2015-2020
Table 07:
Source: Research Publications, Spice Board of India, and StatLedger Analysis
54. 54
Sample Pages
India: State-wise Nutmeg Area Trend
India State-wise Nutmeg Area Trend, 2015-2020 (Ha.)
Figure 12:
Content
Source: Research Publications, Spice Board of India, and StatLedger Analysis
20,000 20,500 21,000 21,500 22,000 22,500 23,000 23,500 24,000 24,500
Area (Ha.)
Kerala
Karnataka
Andaman Nicobar
Others
55. 55
Sample Pages
India: State-wise Nutmeg Production Trend
India State-wise Nutmeg Production Trend, 2015-2020 (Tonnes)
Figure 13:
Content
Source: Research Publications, Spice Board of India, and StatLedger Analysis
12,500 13,000 13,500 14,000 14,500 15,000 15,500 16,000
Production (Tonnes)
Kerala
Karnataka
Andaman Nicobar
Others
56. ToC
This chapter provides India nutmeg and mace demand scenario (domestic as well as international).
7 INDIA NUTMEG & MACE MARKET: DEMAND ANALYSIS
57. 57
Sample Pages
India Domestic Consumption of Nutmeg & Mace
Source: Primary Respondents Views and StatLedger Analysis
Domestic Demand:
▪ Content
58. 58
Sample Pages
India Domestic Consumption of Nutmeg
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
CAGR
(2020-2025)
Area (Thousand Ha.) xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg (Green) Production xx xx xx xx xx xx xx xx xx xx xx xx
Yield (Kg/Ha.) xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg Dry Beg. Stocks xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg Dry Production xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg Dry Imports
(Whole & Grounded)
xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg Total Availability xx xx xx xx xx xx xx xx xx xx xx xx
Nutmeg Dry Exports
(Whole & Grounded)
xx xx xx xx xx xx xx xx xx xx xx xx
Domestic Nutmeg Use
(Whole & Grounded Nutmeg
Retail & Commercial Use)
xx xx xx xx xx xx xx xx xx xx xx xx
Processed for Nutmeg Oil
& Oleoresin
xx xx xx xx xx xx xx xx xx xx xx xx
Ending Stocks xx xx xx xx xx xx xx xx xx xx xx xx
India Nutmeg Supply and Demand Analysis, Volume in Tonnes (2015-2025)
Table 08:
Source: Primary Respondents Views and StatLedger Analysis
59. 59
Sample Pages
India: Domestic Nutmeg Consumption Analysis
India Domestic Consumption of Nutmeg (Dry & Shelled), 2015-2025 (1000 Tonnes)
Figure 14:
Content
Source: Primary Respondents Views and StatLedger Analysis
60. 60
Sample Pages
India: Nutmeg (Dry & Shelled) Consumption
▪ Content
India Nutmeg Consumption Trend (1000 Tonnes) (2015-2025)
Table 09:
Source: Primary Respondents Views and StatLedger Analysis
Year
Nutmeg Dry Exports
(Whole & Grounded)
Domestic Nutmeg Use
(Whole & Grounded Nutmeg
Retail & Commercial Use)
Processed for
Nutmeg Oil & Oleoresin
2015 xx xx xx
2016 xx xx xx
2017 xx xx xx
2018 xx xx xx
2019 xx xx xx
2020 xx xx xx
2021e xx xx xx
2022p xx xx xx
2023p xx xx xx
2024p xx xx xx
2025p xx xx xx
%CAGR
(2015-2025)
xx xx xx
61. 61
Sample Pages
India: Domestic Consumption of Mace
Attribute 2015 2016 2017 2018 2019 2020 2021e 2022p 2023p 2024p 2025p
CAGR
(2020-2025)
Mace (Dry) Beg. Stocks xx xx xx xx xx xx xx xx xx xx xx xx
Mace (Dry) Production xx xx xx xx xx xx xx xx xx xx xx xx
Mace (Dry) Imports
(Whole & Grounded)
xx xx xx xx xx xx xx xx xx xx xx xx
Mace Total Availability xx xx xx xx xx xx xx xx xx xx xx xx
Mace (Dry) Exports
(Whole & Grounded)
xx xx xx xx xx xx xx xx xx xx xx xx
Whole Mace Retail Sales xx xx xx xx xx xx xx xx xx xx xx xx
Food & Industrial
Consumption of Mace
xx xx xx xx xx xx xx xx xx xx xx xx
Processed for Mace Oil
& Oleoresin
xx xx xx xx xx xx xx xx xx xx xx xx
Ending Stocks xx xx xx xx xx xx xx xx xx xx xx xx
India Mace Supply and Demand Analysis, Volume in Tonnes (2015-2025)
Table 10:
Source: Primary Respondents Views and StatLedger Analysis
62. 62
Sample Pages
India: Domestic Mace Consumption Analysis
India Domestic Consumption of Mace (Dry), 2015-2025 (1000 Tonnes)
Figure 15:
Content
Source: Primary Respondents Views and StatLedger Analysis
63. 63
Sample Pages
India: Mace (Dry) Consumption
▪ Content
India Mace Consumption Trend (Tonnes) (2015-2025)
Table 11:
Source: Primary Respondents Views and StatLedger Analysis
Year
Mace (Dry) Exports
(Whole & Grounded)
Whole Mace
Retail Sales
Food & Industrial
Consumption of Mace
Processed for
Mace Oil & Oleoresin
2015 xx xx xx xx
2016 xx xx xx xx
2017 xx xx xx xx
2018 xx xx xx xx
2019 xx xx xx xx
2020 xx xx xx xx
2021e xx xx xx xx
2022p xx xx xx xx
2023p xx xx xx xx
2024p xx xx xx xx
2025p xx xx xx xx
%CAGR
(2015-2025)
xx xx xx xx
64. 64
Sample Pages
India: Nutmeg & Mace Supply Chain
Nutmeg & Mace Distribution Channel in Domestic Markets
Figure 16:
Source: Related Research Publications and StatLedger Analysis
Domestic Customers
xx
Grinder/ Processor
xx
xx
xx
xx
Wholesalers
Exporters
Nutmeg & Mace Distribution Channel in Importing Nations
Figure 17:
xx
Wholesaler
Retailer
xx
xx
xx
xx
xx
xx
65. 65
Sample Pages
India: Nutmeg & Mace End-users
India Nutmeg Prices Vs. PepsiCo Revenue Trend
Figure 18:
Source: Related Research Publications and StatLedger Analysis
2000
3000
4000
5000
6000
7000
8000
9000
200
300
400
500
600
700
800
900
PepsiCo
India
Revenue
in
INR
Crores
Nutmeg
(Without
Shell)
Prices
INR/Kg
Content
Content
Major Stakeholders in Nutmeg & Mace Value Chain
66. 66
Sample Pages
India: Nutmeg Product Variants
Nutmeg-based Product Variants Available in the Market
Figure 19:
Source: Research Publications and StatLedger Analysis
Note: Products given above are illustrative purpose
only. The brands may not be available in India
67. ToC
This chapter provides India nutmeg and mace trade information in terms of volume and value.
8 INDIA NUTMEG & MACE MARKET: TRADE ANALYSIS
68. 68
Sample Pages
India: Nutmeg & Mace Trade Analysis
Global Imports of Nutmeg & Mace, Value (USD Million), 2016-2021
Figure 22:
Source: Research Publications and StatLedger Analysis
Content
2016 2017 2018 2019 2020 2021
Nutmeg Mace
On CIF Price basis
69. 69
Sample Pages
India: Nutmeg & Mace Trade Analysis (Exports)
Content
Source: Related Research Publications and StatLedger Analysis
0.0
1.0
2.0
3.0
4.0
5.0
6.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
Export
Volume
(1000
Tonnes)
Export
Value
(Billion
INR)
Export Value (Billion INR) Export Volume (1000 Tonnes)
-xx% xx% xx%
Export Value (%CAGR)
-xx% xx% xx%
Export Volume(%CAGR)
India Nutmeg & Mace Export, Value & Volume, 2010-2030
Figure 23:
70. 70
Sample Pages
India: Nutmeg & Mace Export Trend
Content
India Nutmeg & Mace Export Trend (2010-2030)
Table 12:
Source: Research Publications and StatLedger Analysis
Year
Export Volume
(1000 Tonnes)
Export Value
(INR Billion)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Export Volume
(1000 Tonnes)
Export Value
(INR Billion)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
71. 71
Sample Pages
India: Nutmeg & Mace Trade Analysis (Imports)
India Nutmeg & Mace Import, Value & Volume, 2010-2030
Figure 24:
Content
Source: Related Research Publications and StatLedger Analysis
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
Import
Volume
(1000
Tonnes)
Import
Value
(Billion
INR)
Import Value (Billion INR) Import Volume (1000 Tonnes)
xx% xx% xx%
Import Value (%CAGR)
xx% xx% xx%
Import Volume(%CAGR)
72. 72
Sample Pages
India: Nutmeg & Mace Import Trend
Content
India Nutmeg & Mace Import Trend (2010-2030)
Table 13:
Source: Research Publications and StatLedger Analysis
Year
Import Volume
(1000 Tonnes)
Import Value
(INR Billion)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Import Volume
(1000 Tonnes)
Import Value
(INR Billion)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
73. 73
Sample Pages
India: Nutmeg & Mace Trade Analysis
India Nutmeg & Mace Export Destinations Share (by Volume),
2020/21
Figure 25:
Content
Source: Related Research Publications and StatLedger Analysis
UAE
US
Nigeria
Brazil
Egypt
Australia
Vietnam
Dominican Republic
South Africa
Bangladesh
Indonesia
Sri Lanka
Grenada
Others
India Imports of Nutmeg & Mace by Origin Share (by
Volume), 2020/21
Figure 26:
74. 74
Sample Pages
India: Nutmeg Trade Analysis (Export)
India Nutmeg Export Trend, by Value & Volume, 2000-2030
Figure 27:
Content
Source: Research Publications and StatLedger Analysis
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Export
Value(in
Billion
INR)
Export
Volume
(in
1000
Tonnes)
Export Volume (1000 Tonnes) Export Value (Billion INR)
75. 75
Sample Pages
India: Nutmeg Export Trend
Content
India Nutmeg Export Trend (2010-2030)
Table 14:
Source: Research Publications and StatLedger Analysis
Year
Export Volume (1000
Tonnes)
Export Value (INR Billion)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Export Volume (1000
Tonnes)
Export Value
(INR Billion)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
76. 76
Sample Pages
India: Nutmeg Trade Analysis (Exports)
Content
India Nutmeg Export Destinations by Volume (in %share) (2016-2020)
Table 15:
Source: Related Research Publications and StatLedger Analysis
2016-2017 2017-2018 2018-2019 2019-2020 2020-2021 2021-2022
Vietnam (41.61%) xx xx xx xx xx
UAE (16.49%) xx xx xx xx xx
USA (4.52%) xx xx xx xx xx
Brazil (4.42%) xx xx xx xx xx
Nigeria (2.78%) xx xx xx xx xx
Egypt (2.41%) xx xx xx xx xx
Pakistan(2.09%) xx xx xx xx xx
South Africa (1.93%) xx xx xx xx xx
Bangladesh (1.87%) xx xx xx xx xx
Iran (1.64%) xx xx xx xx xx
Others (20.25%) Others (15.26%) Others (26.78%) Others (25.65%) Others (26.51%) Others (22.63%)
77. 77
Sample Pages
Top 10 Companies Exporting Nutmeg from India, 2021
Top 10 Companies Exporting Nutmeg from India in 2021 (Nutmeg Neither Crushed Nor Ground (in Shell & Shelled))
Table 16:
Source: StatLedger Analysis
Sl. No. Company %share by value
1 xx xx
2 xx xx
3 xx xx
4 xx xx
5 xx xx
6 xx xx
7 xx xx
8 xx xx
9 xx xx
10 xx xx
Others xx%
Total 100%
HS Code: 9081120 & 9081110
Figure 28: Top 10 Companies Exporting Nutmeg (Whole in shell & Shelled) from
India, %share by Value
78. 78
Sample Pages
Top 10 Companies Exporting Nutmeg from India, 2021
Top 10 Companies Exporting Nutmeg from India in 2021 (Nutmeg Crushed or Ground)
Table 17:
Source: StatLedger Analysis
Sl. No. Company %share by value
1 xx xx
2 xx xx
3 xx xx
4 xx xx
5 xx xx
6 xx xx
7 xx xx
8 xx xx
9 xx xx
10 xx xx
Others xx%
Total 100%
HS Code: 9081200
Figure 29: Top 10 Companies Exporting Nutmeg (Crushed or Ground) from India,
%share by Value
79. 79
Sample Pages
India: Nutmeg Trade Analysis (Import)
India Nutmeg Import Trend, 2000-2030
Figure 30:
Content
Source: Research Publications and StatLedger Analysis
80. 80
Sample Pages
India: Nutmeg Import Trend
Content
India Nutmeg Import Trend (2010-2030)
Table 18:
Source: Research Publications and StatLedger Analysis
Year
Import Volume (1000
Tonnes)
Import Value (INR Billion)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Import Volume (1000
Tonnes)
Import Value
(INR Billion)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
81. 81
Sample Pages
India: Mace Trade Analysis (Export)
India Mace Export Trend, by Value & Volume, 2000-2030
Figure 31:
Content
Source: Research Publications and StatLedger Analysis
82. 82
Sample Pages
India: Mace Export Trend
Content
India Mace Export Trend, by Value & Volume (2010-2030)
Table 19:
Source: Research Publications and StatLedger Analysis
Year
Export Volume
(Tonnes)
Export Value
(INR Million)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Export Volume
(Tonnes)
Export Value
(INR Million)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
83. 83
Sample Pages
Top 10 Companies Exporting Mace from India, 2021
Top 10 Companies Exporting Mace from India in 2021 (Mace Neither Crushed Nor Ground)
Table 20:
Source: StatLedger Analysis
Sl. No. Company %share by value
1 xx xx
2 xx xx
3 xx xx
4 xx xx
5 xx xx
6 xx xx
7 xx xx
8 xx xx
9 xx xx
10 xx xx
Others xx%
Total 100%
HS Code: 9082100
Figure 32: Top 10 Companies Exporting Mace (Neither Crushed nor Ground)) from
India, %share by Value
84. 84
Sample Pages
Top 10 Companies Exporting Mace from India, 2021
Top 10 Companies Exporting Mace from India in 2021 (Mace Crushed or Ground)
Table 21:
Source: StatLedger Analysis
Sl. No. Company %share by value
1 xx xx
2 xx xx
3 xx xx
4 xx xx
5 xx xx
6 xx xx
7 xx xx
8 xx xx
9 xx xx
10 xx xx
Others xx%
Total 100%
HS Code: 9082200
Figure 33: Top 10 Companies Exporting Mace (Crushed or Ground) from India,
%share by Value
85. 85
Sample Pages
India: Mace Trade Analysis (Import)
India Mace Import Trend, by Value & Volume (2000-2030)
Figure 34:
Content
Source: Research Publications and StatLedger Analysis
86. 86
Sample Pages
India: Mace Import Trend
Content
India Mace Import Trend (2010-2030)
Table 22:
Source: Research Publications and StatLedger Analysis
Year
Import Volume
(1000 Tonnes)
Import Value
(INR Billion)
2010 xx xx
2011 xx xx
2012 xx xx
2013 xx xx
2014 xx xx
2015 xx xx
2016 xx xx
2017 xx xx
2018 xx xx
2019 xx xx
2020 xx xx
Year
Import Volume
(1000 Tonnes)
Import Value
(INR Billion)
2021e xx xx
2022p xx xx
2023p xx xx
2024p xx xx
2025p xx xx
2026p xx xx
2027p xx xx
2028p xx xx
2029p xx xx
2030p xx xx
CAGR (2020-2030) xx xx
87. 87
Sample Pages
U.S. Imports of Nutmeg, By Value & Volume (2015-2021)
U.S. Imports of Nutmeg, by Value & Volume (2015-2021)
Figure 35:
Source: Research Publications and StatLedger Analysis
2015 2016 2017 2018 2019 2020 2021
U.S. Imports of Nutmeg, by Value (USD Million) U.S. Imports of Nutmeg, by Value (2021)
Indonesia
India
Viet Nam
Grenada
Sri Lanka
Others
2015 2016 2017 2018 2019 2020 2021
U.S. Imports of Nutmeg, by Volume (Thousand Tonnes)
Nutmeg imports into the United States grew at a CAGR of XX% in value and
XX% in volume from 2016 to 2021.
In 2021, crushed or ground nutmeg accounted for XX% of total imports, up
from XX% in 2020.
The top nutmeg exporters to the U.S. are Indonesia, India, and Grenada. In
recent years, Vietnam's processed nutmeg (crushed/ground) exports to the
U.S. have surged.
88. 88
Sample Pages
U.S. Imports of Mace, By Value & Volume (2015-2021)
U.S. Imports of Mace, by Value & Volume (2015-2021)
Figure 36:
Source: Research Publications and StatLedger Analysis
2015 2016 2017 2018 2019 2020 2021
U.S. Imports of Mace, by Value (USD Million) U.S. Imports of Mace, by Value (2021)
84%
10%
2%
2%
2%
2015 2016 2017 2018 2019 2020 2021
U.S. Imports of Mace, by Volume (Tonnes)
Between 2016 and 2021, mace imports into the U.S. grew at a CAGR of
XX% by value and decline by volume by -5.51%.
In 2021, crushed or ground mace accounted for XX% of total mace imports,
compared to XX% in 2020. The top exporters of mace to the U.S. are
Indonesia and India.
89. 89
Sample Pages
Netherlands Imports of Nutmeg, By Value & Volume (2015-2020)
Netherlands Imports of Nutmeg, by Value & Volume (2015-2020)
Figure 37:
Source: Research Publications and StatLedger Analysis
2015 2016 2017 2018 2019 2020
Netherlands Imports of Nutmeg, by Value (USD Million) Netherlands Imports of Nutmeg, by Value (2020)
49%
10%
26%
3%
12%
2015 2016 2017 2018 2019 2020
Netherlands Imports of Nutmeg, by Volume (Thousand Tonnes)
The Netherlands imports of nutmeg have witnessed a negative CAGR
growth of -XX% by value and -XX% by volume during the period from
2015 to 2020.
Crushed or ground nutmeg accounted for XX% of total imports in 2019
and XX% in 2020 in the Netherlands. The top nutmeg exporters to the
Netherlands are Indonesia, Grenada, Vietnam, and Grenada. In 2020,
Vietnam was the top supplier of processed nutmeg (crushed/ground),
accounting for XX% of total imports of mace.
90. 90
Sample Pages
Netherlands Imports of Mace, By Value & Volume (2015-2020)
Netherlands Imports of Mace, by Value & Volume (2015-2020)
Figure 38:
Source: Research Publications and StatLedger Analysis
2015 2016 2017 2018 2019 2020
Netherlands Imports of Mace, by Value (USD Million) Netherlands Imports of Mace, by Value (2020)
80%
10%
7%
3%
2015 2016 2017 2018 2019 2020
Netherlands Imports of Mace, by Volume (Tonnes)
Between 2015 and 2020, mace imports into the Netherlands grew
at a CAGR of XX% in terms of value and XX% in terms of volume.
In 2020, crushed or ground mace accounted for XX% of total
mace imports in the Netherlands, up from XX% in 2019. The top
exporters of mace to the Netherlands are Indonesia and Belgium.
91. ToC
This chapter provides India nutmeg and mace price analysis and forecasts to 2030.
9 INDIA NUTMEG & MACE MARKET: PRICE ANALYSIS
92. 92
Sample Pages
India: Nutmeg & Mace Price Trend Analysis (India Cochin Market)
India Nutmeg & Mace Price Trend, Annual Average Prices (Cochin Market), 2005-2030
Figure 39:
Content
Source: Related Research Publications and StatLedger Analysis
93. 93
Sample Pages
India: Nutmeg (With Shell) Price Trend Analysis (India Cochin Market)
India Nutmeg (With Shell) Price Trend, Monthly Average Prices, 2016-2021
Figure 40:
Content
Source: Related Research Publications and StatLedger Analysis
170.00
377.80
120
170
220
270
320
370
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Prices
in
INR/Kg
2016-17 2017-18 2018-19 2019-20 2020-21 2021-22
Harvest Period:
Increased arrivals
Lean Period: Stocking
94. 94
Sample Pages
India: Nutmeg (Without Shell) Price Trend Analysis (India Cochin Market)
India Nutmeg (Without Shell) Price Trend, Monthly Average Prices, 2016-2021
Figure 41:
Content
200
250
300
350
400
450
500
550
600
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Prices
in
INR/Kg
Source: Research Publications and StatLedger Analysis
95. 95
Sample Pages
India: Mace Price Trend Analysis (India Cochin Market)
India Mace Price Trend, Monthly Average Prices, 2016-2021
Figure 42:
Content
Source: Research Publications and StatLedger Analysis
200
400
600
800
1000
1200
1400
1600
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Prices
in
INR/Kg
96. 96
Sample Pages
India Nutmeg & Mace Price Drivers
Source: Research Publications and StatLedger Analysis
Factors SHORT - TERM LONG - TERM
MID - TERM
Weather & Output
Carryover Stocks
Food Industry Growth
Export Demand
New Plantations
Competitor Country
Economy
Factors That Affect
Nutmeg & Mace Prices
Note: Short Term – 6-12 Months, Mid Term – 1-2 year, Long Term - >2 Years
Some Other Factors that significantly impact the
price of India Nutmeg and Mace Prices:
• Content
97. ToC
This chapter examines the competitive landscape for India nutmeg and mace markets. The chapter profiles the major players in the India
nutmeg and mace business.
10 INDIA NUTMEG & MACE MARKET: COMPETITIVE ANALYSIS
98. 98
Sample Pages
Top 10 Companies Exporting Nutmeg from India, 2021
Top 10 Companies Exporting Nutmeg from India
Table 23:
Source: StatLedger Analysis
Sl. No. Exporting Company
1 xx
2 xx
3 xx
4 xx
5 xx
6 xx
7 xx
8 xx
9 xx
10 xx
11 xx
12 xx
13 xx
14 xx
15 xx
Sl. No. Exporting Company
16 xx
17 xx
18 xx
19 xx
20 xx
21 xx
22 xx
23 xx
24 xx
25 xx
26 xx
27 xx
28 xx
29 xx
30 xx
99. 99
Sample Pages
Top 10 Companies Exporting Mace from India, 2021
Top 10 Companies Exporting Mace from India
Table 24:
Source: StatLedger Analysis
Sl. No. Exporting Company
1 xx
2 xx
3 xx
4 xx
5 xx
6 xx
7 xx
8 xx
9 xx
10 xx
11 xx
12 xx
13 xx
14 xx
15 xx
Sl. No. Exporting Company
16 xx
17 xx
18 xx
19 xx
20 xx
21 xx
22 xx
23 xx
24 xx
25 xx
26 xx
27 xx
28 xx
29 xx
30 xx
100. 100
Sample Pages
India: List Of Companies
List of Companies in Spices Industry
Table 25:
Source: StatLedger Analysis
Sl. No. Company Headquarter Business Email
1 xx New Delhi, India Global Spice Merchants and Investors exports@royalspices.com
2 xx New Delhi, India Exporter info@royalagrofood.com
3 xx U.P. (India)
Manufacturer of Royal Masale (Domestic Supplier
of Spice Products)
sales.tasty@gmail.com
4 xx Kerala (India)
Manufacturer of spices and other food products
with a presence in both International and Domestic
Market
info@synthite.com
5 xx Mumbai, (India) Global Exporter jabs@jabsinternational.com
6 xx Gujarat (India)
Manufacturer of spices and other food products
with a presence in both International and Domestic
Market
mkt@kxol.in
7 xx Gujarat (India) Domestic Supplier & Exporter mktg@ramdev.co.in
8 xx Mumbai, (India) Supplier & Exporter of Spice and Spice Products marketing@swanispice.com
101. 101
Sample Pages
India: List Of Companies
List of Companies in Spices Industry
Table 25:
Source: StatLedger Analysis
Sl. No. Company Headquarter Business Email
9 xx Kochi, Kerala Processor mail@Kancor.in
10 xx Kochi, Kerala Processor and Exporter info@universaloleoresins.com
11 xx Mumbai, Maharashtra Sourcing, Processing, and Distribution kkcdipak@vsnl.com
12 xx Chochin, Kerala Exporter manish@bafnaenterprises.com
13 xx Kochi, Kerala Sourcing, Processing and Distribution
14 xx Singapore Sourcing, Processing and Distribution spices@olamnet.com
15 xx Haryana, India Processor, Distributor; Raw Material Supplier welcome@parasspices.com
16 xx Bangalore, India Sourcing, Processing, and Distribution Nalini.rao@mtrfoods.com
102. 102
Sample Pages
Synthite Industries Ltd.
Synthite is a market leader in the natural base ingredients space in India, with global leadership in the
specific spice products. It is a major spice company and accounts for more than 30-35% share in the global
oleoresin market.
The company accounts for almost 40% of Indian exports of spice oils and oleoresins, derives 70-75% of
revenue is from the overseas market. Exports to 70 countries around the globe, also lend considerable
geographical diversity.
Synthite focuses on innovating value added food ingredients based on scientific understanding of the
customers’ application. Synthite has over 1200 employees and 6 manufacturing units across South India.
The company has six subsidiaries: Synthite (USA) Inc, Synthite Lanka Pvt Ltd, Synthite (Xinjiang) Biotech
Co Ltd, China, Synthite Brazil, Synthite Beijing and Synthite Vietnam. Subsidiaries in the US and Brazil act
as marketing hubs, while the Sri Lankan & Vietnam unit serves as a procurement arm. The subsidiary at
Xinjiang, China, has a manufacturing set-up and will be used both as a procurement arm and export unit,
while the Beijing subsidiary has a blending unit.
Key customer groups
• Food & Beverage Processing Industry
• Fragrance and Flavor Products Manufacturer
• Meat Processors
Source: Company Websites, Research Publications and StatLedger Analysis
Primary Business Activity
Procurement, Processing, Distributor, Food Safety, Quality and Service
Company
Synthite Industries Ltd.
Headquarter
Kolenchery, Kerala, India
Establishment
1972
Revenue/Sales
~USD 210 Million
Contact Details
Synthite Industries Pvt. Ltd.
Synthite Valley, Kolenchery, Kerala 682 311, India.
Phone: 91-484-3051227
Fax: 91-484-3051351
Email: info@synthite.com
Website URL: www.synthite.com
Employee Strength
~2500
Product portfolio includes:
Oleoresins, essential oils, natural food colors, health ingredients, herb extracts, floral concretes and
absolutes, antioxidants, and spices (including whole, grounded and crushed).
103. 103
Sample Pages
Companies Developments
Company Recent Developments
Table 26:
Source: Company Websites, Research Publications and StatLedger Analysis
Company Name Development
September 2021 xx
September, 2021 xx
June, 2021 xx
September 2020 xx
July 2020 xx
June 2020 xx
104. 104
Sample Pages
Companies Developments
Company Recent Developments
Table 26:
Source: Company Websites, Research Publications and StatLedger Analysis
Company Name Development
October 2019 xx
April 2019 xx
February, 2018 xx
January 2018 xx
October, 2017 xx
February 2017 xx
105. 105
Sample Pages
Companies Developments
Company Recent Developments
Table 26:
Source: Company Websites, Research Publications and StatLedger Analysis
Company Name Development
July 2015 xx
April, 2015 xx
2014 xx
106. ToC
The final thoughts on the India nutmeg and mace market are presented in this chapter. Key contents covered in the chapter are SWOT
Analysis and Opportunities existing in the market value chain.
11 INDIA NUTMEG & MACE MARKET: CONCLUSION
107. 107
Sample Pages
India Nutmeg Industry Swot Analysis
This section highlights & analyzes the SWOT analysis of the nutmeg and mace industry.
Source: Research Publications and StatLedger Analysis
STRENGTHS
• Content
WEAKNESSES
• Content
OPPORTUNITIES
• Content
THREATS
• Content
108. 108
Sample Pages
Opportunities & Challenges
Source: Research Publications and StatLedger Analysis
CHALLENGES
Content
OPPORTUNITIES
Content
111. 111
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