Press Releases
Procurement Resource’s New Nutmeg Industry Intelligence Report (2022) - Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment
According to a new report by Procurement Resource titled, ‘Global Nutmeg Industry Report: Analysis and Forecast 2022-2027’, the global nutmeg market attained a volume of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of over 6% in the forecast period of 2022-2027 to reach a volume of above 180 thousand tonnes by 2027.
Category Driver
The global nutmeg market is expected to grow because of the increase in international commerce due to the expanding popularity of Asian cuisines such as Indian and Thai cuisines among the Western community and high growth in the oleoresin industry. It is mainly farmed and exported in Guatemala, India, and Indonesia, with main import destinations in Europe, the Middle East, and the United States. It's a spice that's popular in Asian cuisine and is getting momentum in other parts of the world. It is one of Europe's most popular spices. In addition, the rise of ethnic cuisines such as Indian and Thai has increased the demand for spices such as nutmeg among food makers.
Industry Developments in terms of Technology/Innovation/R&D/Sustainability
Researchers in the field of health discovered that the leading cause of death in the 2050s will not be diabetes or cancer. Instead, it will be anti-microbial resistance, also known as AMR. Spices in general, and nutmeg, will play an essential role, as evidenced by recent research findings, which reveal that spices, particularly nutmeg, have a high potential for producing antimicrobial peptides. Advances in biotechnology, microbiology, and nanotechnology have opened new possibilities for nutmeg. Other spices in the future, which can be tailored to the preferences of the current dominating generations, known as Millennials and Generation Z. Essential oils are a close substitute for nutmeg or spices in their product sectors. Both the number and quality of essential oils are on the rise. It indicates that demand has outpaced the supply of essential oils that have entered the market during the last 17 years, with rapid growth continued through 2020.
Key Findings of the Report:
- Large-scale disruptions due to the COVID 19 pandemic resulted in supply constraints and increased nutmeg prices.
- Detailed data of major regions of the world, including, North America, Asia Pacific, Europe, South America, Middle East, and Africa.
- Effects of Aflatoxin contamination of Nutmeg caused during the post-harvest stage.
- The industry report includes value chain analysis, cost structure, price movement, demand and price indicators, negotiation levers, and procurement best practices.
- Key suppliers in the report include McCormick & Co. Inc., Royal Spices, Eastmade Spices, Olam International, P. C. Kannan and Co., and Herbs Private Limited.
Why Choose Procurement Resource?
- The nutmeg industry report includes preferred sourcing strategies by key suppliers present in the category
- The report provides an overview of the production process along with recent technologies being positioned
- The information regarding price movement, price hedging, and demand-supply is also included in the report
- The nutmeg industry report further offers category-specific regional trends and market dynamics
- The report also covers supplier profiles including financial data, product portfolio, and recent category-based initiatives
- It provides extensive data pertaining to the demand, supply, cost, and pricing of nutmeg, along with an in-depth analysis on key indicators on category demand and pricing
- The nutmeg industry report provides category-based buyer and supplier negotiation levers and sourcing and procurement practices
- The report extensively assesses the demand influencing and restricting factors on a regional and global level
About Us:
At Procurement Resource we have a team of highly skilled and seasoned experts who undertake extensive research to deliver our customers the newest and most up-to-date sourcing and procurement reports, cost models, price analysis, benchmarking, and category insights, which support our clientele to simplify their procurement process. Procurement Resource ensures that our clients remain at the forefront of their industries by offering actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. We work with a varied collection of procurement teams across industries to get insights and real-time data that our customers can effectively execute. Our team also tracks the prices and production costs of a broad range of goods and commodities, thus, providing our clients with updated and reliable data. We, at Procurement Resource, with the help of the latest and cutting-edge methodologies in the industry, assist our clients to understand the supply chain, procurement, and industry environment to form strategies that ensure their optimum growth and success in every step.
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Procurement Resource’s New Health Economics and Outcomes Research (HEOR) Service Industry Intelligence Report (2022) -Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment
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Procurement Resource’s New Nutmeg Industry Intelligence Report (2022) - Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment
Email Delivery
According to a new report by Procurement Resource titled, ‘Global Nutmeg Industry Report: Analysis and Forecast 2022-2027’, the global nutmeg market attained a volume of about 130 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of over 6% in the forecast period of 2022-2027 to reach a volume of above 180 thousand tonnes by 2027.
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Procurement Resource’s New Integrated Facilities Management Industry Intelligence Report (2022) – Analyses the Key Sourcing Strategies, Demand Indicators, Price Drivers, and Supplier Assessment
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