India Nutmeg & Mace Market

India nutmeg (green) production stood at 18.43 thousand tonnes in 2022 and is projected to grow at a CAGR of 2.76% from 2020 to 2030. India is a major producer and exporter of nutmeg, and it is the world's second-largest producer of nutmeg and mace after Indonesia. India produces nearly 14-18 thousand tonnes (green) of nutmeg and mace annually from an average area of 20-24 thousand hectares. India's mace output is insufficient to meet the country's domestic demand, hence imports, particularly from Indonesia, account for about half of the country's mace needs.

Importance of India in the Global Supply of Nutmeg & Mace

India plays a crucial role in the global nutmeg and mace supply chain, being one of the top producers and exporters of these spices. India's significant contribution is driven by its ability to produce large volumes at competitive prices, catering to both domestic and international markets. Additionally, India's extensive network of spice traders and exporters, coupled with government support for the spice industry, ensures a steady and reliable supply to global markets, solidifying its importance in the nutmeg and mace trade. Its contribution is vital in meeting the global demand, particularly in countries like the USA, the UAE, and Europe, where Indian nutmeg and mace are highly valued for their quality.

India Nutmeg & Mace Supply & Demand Trend

India's production of nutmeg and mace has seen a consistent upward trend, driven by favorable agricultural practices and government support. The demand, both domestic and international, has also been on the rise, fueled by the growing use of these spices in food processing, traditional medicine, and the cosmetics industry. The market is expected to continue its growth momentum, with increased production and demand through 2030.
Covid-19 has a significant impact on the production and export of nutmeg and mace in India. Because to the COVID-19 limits, India's nutmeg (green) production fell 3.8 percent in 2020 (financial year) compared to 2019. In the 2020 financial year, India's retail and commercial consumption of nutmeg (whole and ground form) decreased, but the quantity processed for nutmeg oil and oleoresin extraction soared. Nutmeg (dry) prices remained stable in 2019-2020 due to increased stocks (ending).

Market Growth Factors

India's nutmeg and mace market growth is propelled by several factors, including the rising global demand for organic and natural spices. The increasing application of nutmeg and mace in the food processing and pharmaceutical industries, driven by their flavoring and medicinal properties, is a key driver. The government's initiatives to boost spice exports, along with the adoption of improved farming techniques, are further contributing to market expansion. Additionally, the growth of e-commerce platforms has enhanced market access for Indian nutmeg and mace producers, thereby supporting market growth.

Market Restraints & Challenges

Despite the positive growth outlook, the India nutmeg and mace market faces several restraints and challenges. Fluctuating global prices, driven by variable climatic conditions and changing demand patterns, pose a significant challenge. Additionally, the market is vulnerable to supply chain disruptions, which can impact timely delivery and pricing. The limited availability of arable land and the high cost of organic certification for small-scale farmers are also critical barriers that could hinder market expansion. Additionally, the market is challenged by competition from other spice-producing countries that offer Nutmeg and Mace at competitive prices.

India Nutmeg & Mace Supply/Value Chain Bottlenecks/Challenges

The supply chain for Nutmeg and Mace in India is hindered by several bottlenecks. One of the primary challenges is the fragmented nature of the production process, where a large number of small-scale farmers with limited resources dominate the industry. This fragmentation often leads to inefficiencies in production and difficulties in maintaining consistent quality standards. Additionally, the lack of adequate storage facilities exacerbates post-harvest losses, reducing the overall marketable yield. The transportation infrastructure also poses a challenge, especially in remote growing regions, leading to delays and increased costs. Furthermore, the absence of robust market linkages between farmers, processors, and exporters limits the potential for value addition and hinders the industry's competitiveness on the global stage.

Price Setting Power of India in Global Nutmeg & Mace Value Chain

India holds moderate price-setting power in the global nutmeg and mace market due to its significant production volumes. However, this power is often diluted by global market forces, including competition from other producing countries and fluctuating demand. Nonetheless, India's emphasis on quality and organic production gives it a competitive edge in premium markets. India's active involvement in international spice trade agreements, coupled with its strategic initiatives to boost production and export capacities, provides the country with a significant competitive advantage.

Nutmeg & Mace Trade (Export & Import) Trend

India's nutmeg and mace export market has shown robust growth, with significant shipments to key markets such as the Middle East, Europe, and North America. The country's competitive pricing and high-quality standards have made it a preferred supplier globally. On the import side, India sources some nutmeg and mace to meet domestic demand, particularly during periods of lower domestic production. The balance of trade remains favorable, with exports far exceeding imports, contributing positively to the country's spice export revenues.
In 2023/24, nutmeg and mace exports made up 0.33 percent by volume and 0.78 percent by value (in INR terms) of India's total spice and spice product exports.
In 2023/24, India exported 5.14 thousand tonnes of nutmeg and mace for USD 34.63 million (in which around 94 percent is nutmeg & 6 percent is mace by value). UAE was the largest importer and accounted for 49% share in India’s total exports of nutmeg and mace in 2023/24, followed by Vietnam, Iraq, and Brazil. Top 10 countries import cumulatively accounted for a share of around 85% (by volume) in India’s exports of total nutmeg and mace in 2023/2024. Whole nutmeg and mace (neither crushed nor grounded) exports accounted for 78% in 2023-2024.
In the fiscal year 2023/24, India imported 2.57 thousand tonnes of nutmeg and mace. Indonesia and Sri Lanka account for the majority of import origin for India. India imports mace mostly to meet domestic demand when domestic output is insufficient. Nutmeg and mace imports, on the other hand, are mostly intended for re-export by Indian traders.

Nutmeg & Mace End-use Industries

Nutmeg and Mace find extensive use across various industries in India. The food and beverage industry is the largest consumer, utilizing these spices for flavoring and preserving a wide range of products. In the pharmaceutical industry, Nutmeg and Mace are valued for their medicinal properties and are used in the formulation of traditional and modern medicines. The personal care industry also incorporates these spices in products like toothpaste, soaps, and perfumes due to their aromatic and therapeutic qualities.

India Nutmeg & Mace Market Competitive Analysis

The competitive landscape of the Nutmeg and Mace market in India is characterized by a mix of large, well-established companies and smaller, regional players. The market competition is intense, with companies focusing on improving product quality, expanding their distribution networks, and enhancing their export capabilities. The report profiles key players involved in nutmeg and mace production, processing, trading, distribution, sales, and end-users. Players with a substantial impact/hold on the market are also highlighted in the research. Understanding the growth direction of the India nutmeg and mace market will be aided by a thorough mapping of the competitive landscape and a market development study.

Key Players in the India Nutmeg & Mace Market (Suppliers and Exporters)

        ■ Synthite Industries Ltd.
        ■ Tit-bit Foods (India) Private Limited
        ■ Nedspice Group
        ■ AVT McCormick Ingredients Pvt. Ltd.
        ■ Mane Kancor Ingredients Private Limited
        ■ Paras Spices Private Limited
        ■ Royal Spices (India) Private Limited
        ■ Immaculate Agro Spices Private Limited
        ■ Everest Spices
        ■ Badshah Masala
        ■ Suhana Masale
        ■ MDH Ltd.
        ■ DS Spiceco Pvt. Ltd.

Future Outlook

The future of the Nutmeg and Mace market in India looks promising, with projections indicating sustained growth up to 2030. The increasing global demand for natural and organic products is expected to drive higher export volumes, while domestic demand will also rise due to the expanding food processing and pharmaceutical industries. To capitalize on these opportunities, India will need to address existing challenges in the supply chain, improve infrastructure, and continue enhancing its cultivation practices. The adoption of modern agricultural techniques and expansion into new markets will further solidify India's position as a leading player in the global Nutmeg and Mace industry.

Report Coverage

India nutmeg & mace market report covers historical market data from 2010-2023 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.

Scope of the Report

Report Attributes	Details
Historical Years	2010–2022
Base Year	2023
Forecast Period	2024–2030
Units	Value (US$ Million) and Volume (Tonnes)
Report Coverage	Production, Consumption, Export, and Import
Segments Covered	By Type & Application
Geographies Covered	India
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., and more.

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Related Reports

        ■ Grenada Nutmeg & Mace Market – Trend Analysis & Forecast to 2030
        ■ Indonesia Nutmeg & Mace Market – Trend Analysis & Forecast to 2030
        ■ Sri Lanka Nutmeg & Mace Market – Trend Analysis & Forecast to 2030
        ■ USA Nutmeg & Mace Market – Trend Analysis & Forecast to 2030
        ■ Netherlands Nutmeg & Mace Market – Trend Analysis & Forecast to 2030

FAQs:

1. What is the production size of the India nutmeg and mace in 2022?
India nutmeg (green) production was 18.43 thousand tonnes in 2022.

2. What is the growth rate of India nutmeg and mace production?
India nutmeg and mace production is projected to grow at a CAGR of 2.76% during the forecast from 2020 to 2030.

3. What is the growth rate of India nutmeg and mace consumption?
During the forecast period from 2020 to 2030, India whole and ground nutmeg in retail and commercial use is expected to rise at a CAGR of 2.35 percent.

4. What are the key trends in the India nutmeg and mace market?
High competition from key producing countries (namely Indonesia) and re-export opportunities the importers are adopting to gain the margins of nutmeg and mace produce are the key trends in the market.

5. Which country is the largest importer market of nutmeg from India in 2023-24?
UAE was the largest importer of nutmeg from India in 2023-24.

Table of Contents: India Nutmeg & Mace Market – Trend Analysis & Forecast to 2030

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
            7.1.1. 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
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)
9. India Nutmeg & Mace Market: Price Trend Analysis
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 Ingredients Private Limited
                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.
                10.2.9. Everest Spices
                10.2.10. Badshah Masala
                10.2.11. Suhana Masale
                10.2.12. MDH Ltd.
            10.2.13. DS Spiceco Pvt. Ltd.
            10.2.14. Kitchen Xpress Overseas Ltd.
            10.2.15. Eastmade Spices & Herbs Pvt. Ltd.
11. Conclusion & Outlook
12. Appendix

Table 1: India Nutmeg & Mace Market Production Volume Details (2015-2025)
Table 2: India Nutmeg & Mace Production, Volume (Thousand Tonnes) (2015-2025)
Table 3: India Nutmeg Market, Demand Volume Details (Thousand Tonnes) (2015-2025)
Table 4: India Mace Market, Demand Volume Details (Tonnes) (2015-2025)
Table 5: India Nutmeg (Green) Area (1000 Ha.) & Production (1000 Tonnes) (2010-2030)
Table 6: India Nutmeg (Dry & Shelled) and Mace (Dry) Supply Trend (1000 Tonnes) (2010-2030)
Table 7: India State-wise Nutmeg and Mace (Green) Area, Production, & Yield, 2015-2023
Table 8: India Nutmeg Supply and Demand Analysis, Volume in Tonnes (2015-2025)
Table 9: India Nutmeg Consumption Trend (1000 Tonnes) (2015-2025)
Table 10: India Mace Supply and Demand Analysis, Volume in Tonnes (2015-2025)
Table 11: India Mace Consumption Trend (Tonnes) (2015-2025)
Table 12: India Nutmeg & Mace Export Trend (2010-2030)
Table 13: India Nutmeg & Mace Import Trend (2010-2030)
Table 14: India Nutmeg Export Trend (2010-2030)
Table 15: India Nutmeg Export Destinations by Volume (in %share) (2016-2023)
Table 16: Top 10 Companies Exporting Nutmeg from India in 2023 (Nutmeg Neither Crushed Nor Ground (in Shell & Shelled))
Table 17: Top 10 Companies Exporting Nutmeg from India in 2023 (Nutmeg Crushed or Ground)
Table 18: India Nutmeg Import Trend (2010-2030)
Table 19: India Mace Export Trend, by Value & Volume (2010-2030)
Table 20: Top 10 Companies Exporting Mace from India in 2023 (Mace Neither Crushed Nor Ground)
Table 21: Top 10 Companies Exporting Mace from India in 2023 (Mace Crushed or Ground)
Table 22: India Mace Import Trend (2010-2030)
Table 23: Top 10 Companies Exporting Nutmeg from India
Table 24: Top 10 Companies Exporting Mace from India
Table 25: List of Companies in Spices Industry
Table 26: Company Recent Developments
Table 27: Key Global Spices Companies
Table 28: List of Associations
Table 29: Key Spices Produced in India
Table 30: Key Companies involved in Global Nutmeg & Mace Trade

Figure 1: Nutmeg Crop Seasonality
Figure 2: India Population Dynamics, 2023
Figure 3: India Major Crop Area Trend, 2015 & 2023
Figure 4: India Rainfall Pattern (in MM)
Figure 5: India Livestock Population Dynamics
Figure 6: India: GDP Annual Growth & Exchange Rate Trend
Figure 7: India Spice & Spice Products Export Value & Volume
Figure 8: Global Spices & Seasonings Market – An Overview
Figure 9: India Nutmeg Area and Production Trend, 2010-2030
Figure 10: India Nutmeg (Dry & Shelled) & Mace (Dry) Supply Trend (1000 Tonnes)
Figure 11: India Nutmeg (Dry & Shelled) and Mace (Dry) Production Trend, (1000 Tonnes)
Figure 12: India State-wise Nutmeg Area Trend, 2015-2023 (Ha.)
Figure 13: India State-wise Nutmeg Production Trend, 2015-2023 (Tonnes)
Figure 14: India Domestic Consumption of Nutmeg (Dry & Shelled), 2015-2025 (1000 Tonnes)
Figure 15: India Domestic Consumption of Mace (Dry), 2015-2025 (1000 Tonnes)
Figure 16: Nutmeg & Mace Distribution Channel in Domestic Markets
Figure 17: Nutmeg & Mace Distribution Channel in Importing Nations
Figure 18: India Nutmeg Prices Vs. PepsiCo Revenue Trend
Figure 19: Nutmeg-based Product Variants Available in the Market
Figure 20: Mace-based Product Variants Available in the Market
Figure 21: Nutmeg & Mace-based Product Variants Available in the Market
Figure 22: Global Imports of Nutmeg & Mace, Value (USD Million), 2016-2023
Figure 23: India Nutmeg & Mace Export, Value & Volume, 2010-2030
Figure 24: India Nutmeg & Mace Import, Value & Volume, 2010-2030
Figure 25: India Nutmeg & Mace Export Destinations Share (by Volume), 2023/24
Figure 26: India Imports of Nutmeg & Mace by Origin Share (by Volume), 2023/24
Figure 27: India Nutmeg Export Trend, by Value & Volume, 2000-2030
Figure 28: Top 10 Companies Exporting Nutmeg (Whole in shell & Shelled) from India, %share by Value
Figure 29: Top 10 Companies Exporting Nutmeg (Crushed or Ground) from India, %share by Value
Figure 30: India Nutmeg Import Trend, 2000-2030
Figure 31: India Mace Export Trend, by Value & Volume, 2000-2030
Figure 32: Top 10 Companies Exporting Mace (Neither Crushed nor Ground)) from India, %share by Value
Figure 33: Top 10 Companies Exporting Mace (Crushed or Ground) from India, %share by Value
Figure 34: India Mace Import Trend, by Value & Volume (2000-2030)
Figure 35: U.S. Imports of Nutmeg, by Value & Volume (2015-2023)
Figure 36: U.S. Imports of Mace, by Value & Volume (2015-2023)
Figure 37: Netherlands Imports of Nutmeg, by Value & Volume (2015-2023)
Figure 38: Netherlands Imports of Mace, by Value & Volume (2015-2023)
Figure 39: India Nutmeg & Mace Price Trend, Annual Average Prices (Cochin Market), 2005-2030
Figure 40: India Nutmeg (With Shell) Price Trend, Monthly Average Prices, 2016-2023
Figure 41: India Nutmeg (Without Shell) Price Trend, Monthly Average Prices, 2016-2023
Figure 42: India Mace Price Trend, Monthly Average Prices, 2016-2023
Figure 43: Accreditation & Affiliations in India Spices Industry (Domestic & International)