Chat with us, powered by LiveChat
Procurement Resource Thumbnail Book Image

Global Nutmeg Industry Report: By Application: Food Industry, Pharmaceutical and Cosmetic Industry; Country Overview; Value Chain Analysis; Production Process; Price Analysis; Market Dynamics: SWOT Analysis; Industry Best Practices: Sourcing Strategy, Procurement Model, Contract Structure, Negotiation Levers, Pricing Model, Key Factors Influencing the Quotation; Key Supplier Analysis, 2022-2027

Nutmeg Market Outlook


The Procurement Resource nutmeg industry report comprehensively analyses vital segments, nutmeg market trends, drivers, restraints, the competitive landscape, and other essential market aspects.

The global nutmeg market reached a value of about 134 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 4.5% in the forecast period of 2022-2027 to reach a value of around 167 thousand tonnes by 2027.


The prices of nutmeg in 2021-2022 are expected to be affected due to the rising cost of nutmeg and mace. The nutmeg market price rise can be attributed to the scarcity of the product in the market and several other difficulties that have led the farmers to demand higher prices. The critical demand indicator in the industry report is the highest category spender by region—Asia Pacific.

Industry Definition and Segmentation

Nutmeg is the seed or ground spice of several Myristica species. For example, myristica fragrans (fragrant nutmeg or true nutmeg) is a dark-leaved evergreen tree cultivated for two spices: nutmeg (from the seed) and mace (from the seed covering). It's also a commercial source of nutmeg butter and essential oil.

The nutmeg market comprises application segments such as food, pharmaceutical, and cosmetic industries. The report also includes major nutmeg-producing regions such as Indonesia, Guatemala, India, Nepal, Sri Lanka, Laos, Grenada, Bhutan, Tanzania, and others.

The Asia Pacific Region is Driving the Growth of the Industry

Nutmeg spice is primarily consumed in Asia and the Middle East and hence, these regions hold major nutmeg market share. Turmeric is popular because it is used in many different regional dishes and has a long history of use in medicine.

Nutmeg's leading producers and export markets are Guatemala, India, and Indonesia. The rise of the oleoresins industry has heightened the nutmeg market in the region. Spices like nutmeg contain oleoresins, which are fascinating elements for food makers to use in ethnic dishes. Nutmeg oleoresin extraction occurs in nations like India and Sri Lanka, providing regional export opportunities. These extractions are in high demand in Europe and the United States.

During the forecast period, the nutmeg market is expected to develop due to increased demand from the international community. Global trade is expanding the market, as the popularity of Asian cuisines like Indian and Thai grows among Westerners.

Additionally, the oleoresin industry is experiencing high growth rate, which is driving further expansion of the nutmeg market. It is grown and exported mainly in Guatemala, India, and Indonesia, with Europe, the Middle East, and the United States serving as significant import destinations. It is a spice commonly used in Asian cuisine and is gaining popularity in other parts of the world. For example, it is one of the most popular spices in Europe. This is affecting the nutmeg price in Europe.

The growing popularity of ethnic cuisines such as Indian and Thai has boosted the food producers' demand for spices like nutmeg. Nutmeg is a common ingredient in garam masala, a spice blend used in many Asian cuisines, particularly Indian and Indonesian.  For example, in the European Union, the Indonesian community in the Netherlands is a rather large consumer of nutmeg products. Such broad drivers are propelling the nutmeg market in the European Union.

The high cost is expected to hamper the growth of the market. Moreover, nutmeg procurement is affected by the frequent price fluctuations because of the rise in demands during festivals.

Aflatoxin Contamination of Nutmeg Caused During the Post-Harvest Stage

Some fungi, such as Aspergillus flavus, thrive due to the traditional method of sun-drying nutmeg. The dried nutmeg kernel must be aflatoxin-free before being traded because aflatoxin (AFs) is a hazardous secondary metabolite of A. flavus.

However, aflatoxin detection is inefficient and expensive, making it difficult to carry out at the farmer level. Technologies like high-performance liquid chromatography (HPLC), liquid chromatography-mass spectrometry (LC-MS), and enzyme-linked immune assay (ELISA) have been developed to test aflatoxin levels. However, these methods are tedious, expensive, and unsafe. As a result, a technology that can detect aflatoxin levels promptly, at a low cost, without damage, and readily, especially at the farmer level, is required.

Category Management Studies

Nutmeg and mace are used as spices because they have a lot of fragrant chemicals that make them flavourful. In addition, nutmeg, and mace, both dried and crushed, are commonly utilised in the culinary sector for their flavouring properties. The nutmeg seed contains 30-55% aromatic oil, 5-15% essential oil, and 24-40% fixed oil (or nutmeg butter).

End-Use Applications are Further Propelling the Global Procurement of Nutmeg

Nutmeg and mace are commonly used as spices in Grenada, particularly baking, dairy, and alcoholic beverages. Nutmeg is required in the distinctively flavourful Grenadian rum punch, and local nutmeg ice cream is delicious. Seasoning marine seafood with mace is a trend.

Warm ground nutmeg with a "soft candle" or petroleum jelly to make a balm. Massage stiff muscles and painful joints with diluted oil. The ripe open pods of the fruit are a wasted by-product of the nutmeg business. Pods make jams, jellies, and syrups, preserved in syrup, "cheese," and candied pods in the local area. Owing to its versatile utilisation there has been a rise in the nutmeg market demand.

As per the nutmeg market dynamics, the cracked shells are used as firewood mulch in the field and for distributing on pathways, nurseries, and greenhouse floors. The pods are served as a sweetmeat in the far east, sliced, salted, and cooked in rice recipes.

The leftover residue from the extraction of fixed oil is mixed with chopped pods, coated in a layer of dirt, and then covered with banana leaves. The edible mushroom Soletus moschocarganus is grown in this mixture. All these factors are impacting the nutmeg market price globally.

The critical zones for the nutmeg market can be allocated into North America, Europe, the Asia Pacific, South America, and the Middle East and Africa.

Nutmeg Market Key Players

  • Royal Spices
  • McCormick & Co. Inc.
  • Olam International
  • P. C. Kannan and Co.
  • East made Spices and Herbs Private Limited

Market Landscape

The global nutmeg market is greatly divided—a substantial measure of nutmeg is imported by Europe. For instance, the Netherland imports about 28% of the total European nutmeg trade. There is a massive demand for nutmeg spice in Asian communities, including India and Indonesia, that use it in the seasonal curry dishes. Because of this, the market is witnessing growth.

Key Initiatives by Companies

  • Vancouver based, Camino Minerals, is running three copper ventures in Peru – Maria Cecilia, Los Chapitos, and Plata Dorada that began in 2021.
  • Vizcachitas site in central Chile is progressed by Los Andes Copper. The deposited copper-molybdenum porphyry is built in 150 km northeast of Santiago.

1.    Executive Summary
2.    Global Nutmeg Market Snapshot

    2.1.    Nutmeg Market Outlook
    2.2.    Nutmeg Industry Analysis by Application
        2.2.1.    Food Industry
        2.2.2.    Pharmaceutical and Cosmetic Industry
    2.3.    Country Overview
        2.3.1.    Indonesia
        2.3.2.    Guatemala
        2.3.3.    India
        2.3.4.    Nepal
        2.3.5.    Sri Lanka
        2.3.6.    Laos
        2.3.7.    Grenada
        2.3.8.    Bhutan 
        2.3.9.    Tanzania
        2.3.10.    Others
3.    Impact of Recent Events 
4.    Covid-19 Impact on Supply Chain
5.    Nutmeg Value Chain Analysis
6.    Nutmeg Production Process
7.    Nutmeg Price Analysis (2019-21)
8.    Trade Analysis 
9.    Nutmeg Market Dynamics

    9.1.    Drivers & Constraints
    9.2.    Innovations & Trends
    9.3.    SWOT Analysis
    9.4.    Porter’s Five Forces
        9.4.1.    Buyer Power
        9.4.2.    Supplier Power
        9.4.3.    Threat of New entrants
        9.4.4.    Threat of Substitutes
        9.4.5.    Industry Rivalry
10.    Key Demand Indicators
11.    Key Price Indicators
12.    Industry Best Practices

    12.1.    Safety Criteria and Requirements
    12.2.    Procurement Model
    12.3.    Contract Structure
    12.4.    Pricing Model
    12.5.    Key Factors Influencing the Quotation
13.    Key Supplier Analysis
    13.1.    Royal Spices
    13.2.    McCormick & Company
    13.3.    Olam International
    13.4.    P. C. Kannan and Co.
    13.5.    Eastmade Spices and Herbs Private Limited

Request Sample
Key Questions Answered in the Report

In 2021, the global attained a value of around 134 thousand tonnes.

In the estimated phase of 2022-2027, the nutmeg market is expected to expand at a CAGR of 4.5%.

The nutmeg procurement strategies include contract terms, engagement models, negotiation levers, and sourcing strategies.

The current trends in nutmeg procurement are long-term contracts and negotiation strategies based on competitive pricing and sourcing.

The rapid increase in international commerce due to the rising popularity of Asian cuisines such as Indian and Thai foods among the Western community, and high growth in the oleoresin industry are expected to drive the nutmeg category growth.

The high cost is expected to hamper the growth of the market. Moreover, nutmeg procurement is affected by the frequent price fluctuations because of the rise in demands during festivals.

Royal Spices, McCormick & Co. Inc., Olam International, P. C. Kannan and Co., East made Spices and Herbs Private Limited are the critical suppliers of optical fibre.

Nutmeg is in great demand due to the rising popularity of Asian cuisines like Indian and Thai foods among the Western community.

The main cost components for the category include raw material, labour, utilities, and transport.

Indonesia, Guatemala, India, Nepal, Sri Lanka, Laos, Grenada, Bhutan, Tanzania, and others are the significant regions producing the commodity.

The nutmeg market in India is the largest distributor of product.

Analyst Review

The global nutmeg market attained a volume of nearly 134 thouand tonnes in 2021. It is expected to grow at a CAGR of 4.5% and projected to reach 167 thousand tonnes by 2027. The nutmeg industry comprises application segments such as food, pharmaceutical, and cosmetic industries.

The information also includes major nutmeg-producing regions such as Indonesia, Guatemala, India, Nepal, and others. Nutmeg spice is primarily consumed in Asia and the Middle East. The diversity of regional dishes that use it as a primary spice element and its long-standing practice in medicine gexplains the spice's popularity.

During the forecast period, the market for nutmeg is expected to grow due to increased demand from the international community. Some of the critical optical fibre suppliers in the nutmeg market are Royal Spices, McCormick & Co. Inc., Olam International, P. C. Kannan and Co.; East made Spices and Herbs Private Limited.

Procurement Resources' team of experts uses a combination of cutting-edge analytical tools and their expertise to explore the macro and micro aspects of the industry.

Compare test & Choose the Right Report Version for You

Why Procurement Resource?

RIGHT PEOPLE

At Procurement Resource our analysts are selected after they are assessed thoroughly on having required qualities so that they can work effectively and productively and are able to execute projects based on the expectations shared by our clients. Our team is hence, technically exceptional, strategic, pragmatic, well experienced and competent.

RIGHT METHODOLOGY

We understand the cruciality of high-quality assessments that are important for our clients to take timely decisions and plan strategically. We have been continuously upgrading our tools and resources over the past years to become useful partners for our clientele. Our research methods are supported by most recent technology, our trusted and verified databases that are modified as per the needs help us serve our clients effectively every time and puts them ahead of their competitors.

RIGHT PRICE

Our team provides a detailed, high quality and deeply researched evaluations in competitive prices, that are unmatchable, and demonstrates our understanding of our client’s resource composition. These reports support our clientele make important procurement and supply chains choices that further helps them to place themselves ahead of their counterparts. We also offer attractive discounts or rebates on our forth coming reports.

RIGHT SUPPORT

Our vision is to enable our clients with superior quality market assessment and actionable evaluations to assist them with taking timely and right decisions. We are always ready to deliver our clients with maximum results by delivering them with customised suggestions to meet their exact needs within the specified timeline and help them understand the market dynamics in a better way.

Similar Reports
Global HEOR Service Industry Report: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global HEOR market reached a value of about USD 1364.3 million in 2021. The industry is further expected to grow at a CAGR of about 12.81% in the forecast period of 2022-2027 to reach a value of around USD 2779.2 million by 2027.

Read More
Global Nutmeg Industry Report: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global nutmeg market reached a value of about 134 thousand tonnes in 2021. The industry is further expected to grow at a CAGR of about 4.5% in the forecast period of 2022-2027 to reach a value of around 167 thousand tonnes by 2027.

Read More
Global Artificial Intelligence Market: Size, Trend, Analysis and Forecast 2022-2027

Email Delivery   Price: $ 999.00

The global Artificial Intelligence Market reached a value of about USD 192 Billion in 2021. The industry is projected to grow at a CAGR of around 23% in the forecast period of 2022-2027 to reach a value of about USD 664.86 Billion by 2027.

Read More

NEWSLETTER

Get latest News About Procurement Resource
Subscribe for news

This site uses cookies (including third-party cookies) to record user’s preferences which help us to enhance our services. For further information review our Privacy Policy