India Nutmeg & Mace Market- Trend Analysis & Forecasts
Description
India Nutmeg & Mace Market Overview:
India remains one of the world’s leading producers of nutmeg and mace, harvesting around 18.4 thousand tonnes of green nutmeg in 2022 across 20–24 thousand hectares, with production expected to grow at a steady 2.7% CAGR through 2030. The country ranks second globally after Indonesia, supported by favourable agro-climatic conditions and expanding cultivation in Kerala, Karnataka, and the Northeast. Trade activity is strong: in 2023/24, India exported about 5.14 thousand tonnes valued at USD 34.6 million, with whole nutmeg and mace contributing nearly 78% of export volume, while imports of 2.57 thousand tonnes—mainly mace—help balance domestic supply gaps. The market benefits from rising demand across food processing, flavouring, nutraceuticals, aromatherapy, and cosmetics, positioning India as a vital player in the global spice value chain.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the India nutmeg & mace market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Growth is driven by rising global demand for natural and organic spices, expanded food-processing and pharmaceutical use, and government export support; e-commerce and adoption of improved agronomy also boost market reach and yields. Forecast coverage to 2030 and historical data (2010–2023) underpin the positive outlook, with increased processing for nutmeg oil and oleoresins noted during COVID-period shifts in demand.
StatLedger
Market Restraints & Challenges
The market faces volatility from climate-driven supply swings and price fluctuations (prices rose from historical lows around INR 279.23/kg to INR 615/kg in 2024–25), fragmented smallholder production, limited storage and transport infrastructure, high organic-certification costs for small farmers, and stiff competition from other producing countries. Supply-chain bottlenecks and uneven market linkages constrain quality consistency and value addition.
Market Segmentation
India’s nutmeg and mace market is structured across type, form, application, and trade channels, each showing distinct demand patterns and value contributions. By type, nutmeg (dry kernel) accounts for the dominant share, while mace—though smaller in volume—commands a higher unit value and drives import dependence; together they form the core of India’s 5.14-thousand-tonne export basket in 2023/24. By form, whole spice leads both domestic and export sales (≈78% of outbound shipments), while processed derivatives such as powder, essential oil, and oleoresins are rising in importance due to growing demand from food processing, bakery, flavouring, and personal-care industries. Applications span retail consumption, industrial food use, nutraceuticals, and aromatics, each benefiting from India’s strengthening spice-processing ecosystem. Trade-wise, domestic consumption absorbs a steady base volume, while exports—largely whole nutmeg and select processed products—are shaped by key destinations like the UAE, EU, and US, with imports supplementing local shortages of premium mace grades.
Competitive Landscape
The industry blends large ingredient houses and regional spice players—Synthite, Tit-bit Foods, Nedspice, AVT-McCormick, Mane Kancor, Paras Spices, Everest, MDH and others—competing on quality, traceability and export networks; India retains moderate price-setting influence but premium positioning (organic/quality) is crucial against lower-priced competitors.
Outlook
With steady domestic demand and export opportunities (UAE alone took ~49% of India’s nutmeg & mace exports in 2023/24) and continuing product applications, the market is slated for sustained growth through 2030 provided India invests in supply-chain upgrades, storage, farmer aggregation and widening processing capacity to convert rising production into higher value exports.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2030
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Nutmeg (Dry) and Mace)
By Form (Whole and Processed)
By Application (Retail Sale, Food & Industrial Use, and Processed)
By Sales (Domestic Consumption and Exports/Imports)
• Companies Profiled: The market players include, Synthite Industries Ltd., Tit-bit Foods (India) Private Limited, Nedspice Group, AVT McCormick Ingredients Pvt. Ltd., Mane Kancor, Paras Spices Private Limited, Royal Spices (India) Private Limited, Immaculate Agro Spices Private Limited, Everest Spices, Badshah Masala, Suhana Masale, MDH Ltd., and DS Spiceco Pvt. Ltd., Others.
Please note: It will take 4-5 business days to deliver the report upon receipt the order.
India remains one of the world’s leading producers of nutmeg and mace, harvesting around 18.4 thousand tonnes of green nutmeg in 2022 across 20–24 thousand hectares, with production expected to grow at a steady 2.7% CAGR through 2030. The country ranks second globally after Indonesia, supported by favourable agro-climatic conditions and expanding cultivation in Kerala, Karnataka, and the Northeast. Trade activity is strong: in 2023/24, India exported about 5.14 thousand tonnes valued at USD 34.6 million, with whole nutmeg and mace contributing nearly 78% of export volume, while imports of 2.57 thousand tonnes—mainly mace—help balance domestic supply gaps. The market benefits from rising demand across food processing, flavouring, nutraceuticals, aromatherapy, and cosmetics, positioning India as a vital player in the global spice value chain.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the India nutmeg & mace market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis (export & import), including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Growth is driven by rising global demand for natural and organic spices, expanded food-processing and pharmaceutical use, and government export support; e-commerce and adoption of improved agronomy also boost market reach and yields. Forecast coverage to 2030 and historical data (2010–2023) underpin the positive outlook, with increased processing for nutmeg oil and oleoresins noted during COVID-period shifts in demand.
StatLedger
Market Restraints & Challenges
The market faces volatility from climate-driven supply swings and price fluctuations (prices rose from historical lows around INR 279.23/kg to INR 615/kg in 2024–25), fragmented smallholder production, limited storage and transport infrastructure, high organic-certification costs for small farmers, and stiff competition from other producing countries. Supply-chain bottlenecks and uneven market linkages constrain quality consistency and value addition.
Market Segmentation
India’s nutmeg and mace market is structured across type, form, application, and trade channels, each showing distinct demand patterns and value contributions. By type, nutmeg (dry kernel) accounts for the dominant share, while mace—though smaller in volume—commands a higher unit value and drives import dependence; together they form the core of India’s 5.14-thousand-tonne export basket in 2023/24. By form, whole spice leads both domestic and export sales (≈78% of outbound shipments), while processed derivatives such as powder, essential oil, and oleoresins are rising in importance due to growing demand from food processing, bakery, flavouring, and personal-care industries. Applications span retail consumption, industrial food use, nutraceuticals, and aromatics, each benefiting from India’s strengthening spice-processing ecosystem. Trade-wise, domestic consumption absorbs a steady base volume, while exports—largely whole nutmeg and select processed products—are shaped by key destinations like the UAE, EU, and US, with imports supplementing local shortages of premium mace grades.
Competitive Landscape
The industry blends large ingredient houses and regional spice players—Synthite, Tit-bit Foods, Nedspice, AVT-McCormick, Mane Kancor, Paras Spices, Everest, MDH and others—competing on quality, traceability and export networks; India retains moderate price-setting influence but premium positioning (organic/quality) is crucial against lower-priced competitors.
Outlook
With steady domestic demand and export opportunities (UAE alone took ~49% of India’s nutmeg & mace exports in 2023/24) and continuing product applications, the market is slated for sustained growth through 2030 provided India invests in supply-chain upgrades, storage, farmer aggregation and widening processing capacity to convert rising production into higher value exports.
Scope of the Report:
• Historical Years: 2018-2023
• Base Year: 2024
• Forecast Period: 2025-2030
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Nutmeg (Dry) and Mace)
By Form (Whole and Processed)
By Application (Retail Sale, Food & Industrial Use, and Processed)
By Sales (Domestic Consumption and Exports/Imports)
• Companies Profiled: The market players include, Synthite Industries Ltd., Tit-bit Foods (India) Private Limited, Nedspice Group, AVT McCormick Ingredients Pvt. Ltd., Mane Kancor, Paras Spices Private Limited, Royal Spices (India) Private Limited, Immaculate Agro Spices Private Limited, Everest Spices, Badshah Masala, Suhana Masale, MDH Ltd., and DS Spiceco Pvt. Ltd., Others.
Please note: It will take 4-5 business days to deliver the report upon receipt the order.
Table of Contents
141 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1. Objectives & Scope of the Study
- 2.2. Definitions & Economic Importance
- 2.3. Research Methodology
- 2.4. Factors and Decision Matrix Analysis
- 2.5. Limitations & Challenges
- 3. Commodity/ 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
- 4. India: Country Profile
- 5. India Nutmeg & Mace Market Growth Factors Analysis
- 5.1. Drivers and Restraints Analysis
- 5.2. Challenges and Opportunities Analysis
- 5.3. India Nutmeg & Mace Industry SWOT Analysis
- 5.4. India Nutmeg & Mace Market PESTEL Analysis
- 5.5. India Nutmeg & Mace Market Porter's Five Forces analysis
- 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
- 7. India Nutmeg & Mace Market: Demand Analysis
- 7.1. Domestic Demand
- 7.2. Export Demand
- 7.3. Nutmeg & Mace Supply Chain
- 7.4. Nutmeg & Mace Product Variants
- 8. India Nutmeg & Mace Market: Segmentation Analysis
- 8.1. By Type & Application
- 8.1.1. Nutmeg (Dry)
- 8.1.1.1. Processed for Nutmeg Oil and Oleoresin
- 8.1.1.2. Nutmeg (Dry) Retail and Commercial Use
- 8.1.2. Mace (Dry)
- 8.1.2.1. Whole Mace Retail Sales
- 8.1.2.2. Food and Industrial Consumption of Mace
- 8.1.2.3. Processed for Mace Oil and Oleoresin
- 8.2. By Form
- 8.2.1. Whole Nutmeg & Mace
- 8.2.2. Nutmeg Powder & Mace Powder
- 8.3. By Sales
- 8.3.1. Domestic Consumption
- 8.3.2. Exports/Imports
- 9. India Nutmeg & Mace Market: Trade (Export & Import) Analysis
- 9.1. Nutmeg Export & Import Trend
- 9.2. Mace Export & Import Trend
- 9.3. Top 10 Exporters of Nutmeg and Mace from India
- 9.4. U.S. Imports of Nutmeg and Mace (Value & Volume)
- 9.5. Netherland Imports of Nutmeg and Mace (Value & Volume)
- 10. India Nutmeg & Mace Market: Price Trend Analysis
- 10.1. Domestic Price Trend
- 10.2. Export Price Trend
- 10.3. Price Seasonality & Price Pattern Analysis
- 10.4. Price Events Analysis
- 11. Competitive Analysis
- 11.1. India Nutmeg & Mace Market Mapping
- 11.1.1. Nutmeg and Mace Buyers/Exporters & Sellers/ Importers
- 11.1.2. List of Key Countries Importing Pomegranate from India
- 11.2. Key Company Profiles
- 11.2.1. Synthite Industries Ltd.
- 11.2.2. Mane Kancor Ingredients Private Limited
- 11.2.3. Paras Spices Private Limited
- 11.2.4. Royal Spices (India) Private Limited
- 11.2.5. Immaculate Agro Spices Private Limited
- 11.2.6. Tit-bit Foods (India) Private Limited
- 11.2.7. Nedspice Group
- 11.2.8. AVT McCormick Ingredients Pvt. Ltd.
- 11.2.9. Everest Spices
- 11.2.10. Badshah Masala
- 11.2.11. Suhana Masale
- 11.2.12. MDH Ltd.
- 11.2.13. DS Spiceco Pvt. Ltd.
- 11.2.14. Kitchen Xpress Overseas Ltd.
- 11.2.15. Eastmade Spices & Herbs Pvt. Ltd.
- 12. Conclusion & Outlook
- 13. Appendix
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.